Development Period Distributions Sample Clauses

Development Period Distributions. (a) Prior to the Transition Date, distributions shall be made at such times and in such aggregate amounts determined by the Managing Member. Any such distributions shall be made as set forth in Section 7.2(b), Section 7.2(c), and Section 7.2(d). The Members acknowledge that no distributions are expected to be made prior to the Transition Date. (b) Subject to repayments of amounts due under a Subscription Facility or other Company indebtedness, during the Development Period, distributions of available cash will be preliminarily apportioned among each of Members on the basis of their relative Investment Contributions. The amount so apportioned to the Managing Member shall be distributed to the Managing Member and the amount so apportioned to each other Member shall be distributed between the Managing Member and such other Member as follows (the “Development Period Waterfall”): (i) First, 100% to such Member until such Member has received distributions pursuant to this Section 7.2(b)(i) equal to such Member’s aggregate Investment Contributions; (ii) Second, 100% to such Member until such Member has received distributions pursuant to this Section 7.2(b)(ii) equal to the aggregate amount of such Member’s Cost Contributions; (iii) Third, 100% to such Member until the Unpaid Preferred Return of such Member has been reduced to zero; (iv) Fourth, (A) 50% to such Member and (B) 50% to the Managing Member, until the Managing Member has received cumulative distributions under this Section 7.2(b)(iv) with respect to such Member equal to 15% of all distributions made to such Member pursuant to Section 7.2(b)(iii) and made or being made to such Member and the Managing Member pursuant to this Section 7.2(b)(iv); and (v) Fifth, (A) 85% to such Member and (B) 15% to the Managing Member. (c) Notwithstanding the priorities set forth in Section 7.2(b), the Managing Member shall have the authority to cause the Company to make distributions pursuant to this Section 7.2(c) to the Managing Member (subject to Section 6.6) based on the excess of the Managing Member’s anticipated Tax Amount in respect of its Development Period Carried Interest for such fiscal year, over the amount of distributions previously made to such Member pursuant to Section 7.2(b) with respect to such fiscal year. Such distributions shall be treated for all purposes hereof, other than this Section 7.2(c), as advances of distributions pursuant to Section 7.2(b), and thus shall reduce dollar for dollar the amoun...
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Related to Development Period Distributions

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Distribution Compliance Period The Purchaser agrees not to resell, pledge or transfer any Purchased Shares within the United States or to any U.S. Person, as each of those terms is defined in Regulation S, during the 40 days following the Closing Date.

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • Development Phase contractual phase initiated with the approval of ANP for the Development Plan and which is extended during the Production Phase while investments in xxxxx, equipment, and facilities for the Production of Oil and Gas according to the Best Practices of the Oil Industry are required.

  • Planning Period All observations must be conducted openly and with full knowledge of the employee.

  • Contract Distribution The Employer will provide all current and new employees with a link to the new Agreement. Each department or unit will maintain a paper copy of the contract accessible to all employees.

  • Carry Forward to a Subsequent Year If you do not withdraw the excess contribution, you may carry forward the contribution for a subsequent tax year. To do so, you under-contribute for that tax year and carry the excess contribution amount forward to that year on your tax return. The six percent excess contribution penalty tax will be imposed on the excess amount for each year that it remains as an excess contribution at the end of the year. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

  • Development Activities The Development activities referred to in item “b” of paragraph 3.1 include: studies and projects of implementation of the Production facilities; drilling and completion of the Producing and injection xxxxx; and installation of equipment and vessels for extraction, collection, Treatment, storage, and transfer of Oil and Gas. The installation referred to in item “c” includes, but is not limited to, offshore platforms, pipelines, Oil and Gas Treatment plants, equipment and facilities for measurement of the inspected Production, wellhead equipment, production pipes, flow lines, tanks, and other facilities exclusively intended for extraction, as well as oil and gas pipelines for Production Outflow and their respective compressor and pumping stations.

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