DISPOSITION OF EARNINGS Sample Clauses

DISPOSITION OF EARNINGS. Net income generated by the Auxiliary shall be used solely to benefit the District. The Board of Directors of the Auxiliary, subject to the terms and conditions of the District's Regulations Concerning Auxiliary Organizations, shall establish provisions for the acceptance, management and investment of gifts.
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DISPOSITION OF EARNINGS. Income generated by the Foundation in excess of costs and provisions for equipment, maintenance, reserves, and working capital shall be used to benefit the District's instructional program in Viticulture and Winery Technology. Capital provisions shall be established by the Board of Directors of the Foundation ensure fulfillment by the Foundation of this agreement. The Board of Directors of the Auxiliary, subject to the terms and conditions of the District's Regulations Concerning Auxiliary Organizations, shall establish provisions for the acceptance, management and investment of gifts.
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DISPOSITION OF EARNINGS. Net income generated by the Foundation shall be used solely to benefit the College. Provisions for the acceptance, management and investment of gifts shall be established by the Board of Directors of the Foundation to insure the good stewardship and fiduciary responsibilities of the Foundation for endowment and other gifts.
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DISPOSITION OF EARNINGS. Net earnings derived from the operations of the Friends of Fullerton College Foundation shall be used solely to benefit the College/NOCCCD and its students or used for reserves as established by the Board of Directors of the Friends of Fullerton College Foundation.
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DISPOSITION OF EARNINGS. During the term of this Trust, all earnings received by the Trust, net of expenses and taxes, shall be returned to the Company and distributed to the participants that elect to currently receive such distributions, or shall be invested in additional Common Shares by those who elect to have their share of the earnings reinvested.
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Related to DISPOSITION OF EARNINGS

  • Excess Cash Flow No later than ten (10) Business Days after the date on which the financial statements with respect to each fiscal year of Holdings ending on or after December 31, 2019 in which an Excess Cash Flow Period occurs are required to be delivered pursuant to Section 5.01(a) (each such date, an “ECF Payment Date”), the Borrower shall, if and to the extent Excess Cash Flow for such Excess Cash Flow Period exceeds $1,375,000, make prepayments of Term Loans in accordance with Section 2.10(h) and (i) in an aggregate amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow for the Excess Cash Flow Period then ended (for the avoidance of doubt, including the $1,375,000 floor referenced above) (B) minus $1,375,000 minus (C) at the option of the Borrower, the aggregate principal amount of (x) any Term Loans, Incremental Term Loans, Revolving Loans or Incremental Revolving Loans (or, in each case, any Credit Agreement Refinancing Indebtedness in respect thereof), in each case prepaid pursuant to Section 2.10(a), Section 2.16(b)(B) or Section 10.02(e)(i) (or pursuant to the corresponding provisions of the documentation governing any such Credit Agreement Refinancing Indebtedness) (in the case of any prepayment of Revolving Loans and/or Incremental Revolving Loans, solely to the extent accompanied by a corresponding permanent reduction in the Revolving Commitment), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date) and (y) the amount of any reduction in the outstanding amount of any Term Loans or Incremental Term Loans resulting from any assignment made in accordance with Section 10.04(b)(vii) of this Agreement (or the corresponding provisions of any Credit Agreement Refinancing Indebtedness issued in exchange therefor), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date), and in the case of all such prepayments or buybacks, to the extent that (1) such prepayments or buybacks were financed with sources other than the proceeds of long-term Indebtedness (other than revolving Indebtedness to the extent intended to be repaid from operating cash flow) of Holdings or its Restricted Subsidiaries and (2) such prepayment or buybacks did not reduce the amount required to be prepaid pursuant to this Section 2.10(f) in any prior Excess Cash Flow Period (such payment, the “ECF Payment Amount”).

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