Determination of Variable Distributions Sample Clauses
The Determination of Variable Distributions clause establishes the method by which variable amounts, such as payments or allocations, are calculated and distributed under the agreement. Typically, this clause outlines the specific variables involved, the formula or process for determining their values, and the timing or conditions under which distributions are made. By providing a clear framework for calculating and distributing variable amounts, this clause ensures transparency and predictability, reducing the risk of disputes over how such amounts are determined and allocated.
Determination of Variable Distributions. Subject to Sections 2(c) and 2(d) and the terms of the Limited Partnership Agreement, any Variable Distribution in respect of any Fiscal Year commencing with Fiscal Year 2016 may be comprised of:
(i) other than with respect to Fiscal Year 2016, a PSI Distribution in an amount calculated in accordance with the terms of the Limited Partnership Agreement consisting of a combination of (A) a PSI Cash Distribution, including grants of Deferred Cash Interests, and (B) a PSI Class D Unit Distribution; and
(ii) a Performance Distribution in an amount determined in the sole discretion of the PMC Chairman consisting of a combination of (A) cash distributions from one or more of the Operating Partnerships, including grants of Deferred Cash Interests (collectively, the “Performance Cash Distribution” and, together with the PSI Cash Distribution for such Fiscal Year, a “Variable Cash Distribution”), and (B) a Performance Class D Unit Distribution (together with the PSI Class D Unit Distribution for such Fiscal Year, a “Variable Class D Unit Distribution”).
Determination of Variable Distributions