Distributable Funds. The term "Distributable Funds" of the Partnership shall mean the excess from time to time of (A) the total of (i) cash held by the Partnership, including without limitation, cash proceeds derived from operations ("Operating Revenues"), plus (ii) net proceeds received from any sale or refinancing of all or a portion of property, proceeds of casualty insurance and condemnation awards not currently required for rebuilding, restoration, repair or operation ("Sale Proceeds"), less (B) the working capital requirements of the Partnership (as determined by the General Partner) and such reserves as may be established by the General Partner from time to time.
Appears in 5 contracts
Samples: North American Pipe Corp, North American Pipe Corp, North American Pipe Corp
