Distribution and Payments from DBNY Sample Clauses

Distribution and Payments from DBNY. The Board or the Regional Executive Committee will distribute money or other property of DBNY (i) to the Parties pursuant to this Section 2 on an annual basis, upon certification by the Board or Regional Executive Committee, which certification shall be effectuated on a timely basis, in amounts described in Section 3(a) of the Revenue Sharing Agreement, or (ii) to Affiliate within 60 days after calculating a decrease in Branch Equity the Excess Distribution (as such terms are defined in the Revenue Sharing Agreement) as described in Section 3(d) of the Revenue Sharing Agreement, or (iii) to Affiliate on the Termination Date in the amount described in Section 3(c) of the Revenue Sharing Agreement, and the Parties agree that no such distributions or payments will or may be made other than pursuant to this Section 2(f) or Section 3 of the Revenue Sharing Agreement. The distributions and payments described in Sections 3(a) and 3(b) of the Revenue Sharing Agreement and made pursuant to this Section 2(f) must be made such that DBAG receives an amount of money or property with an aggregate fair market value (as reasonably determined by person(s) or firm(s) to be designated by the Board (or the Regional Executive Committee, if so authorized by the Board)) equal to the DBAG Share of the aggregate amount of money and fair market value of property being distributed or paid, as DBAG’s share of Net Profits or as DBAG’s pro rata share of any Return of Capital, as the case may be, and Affiliate receives an amount of money or property with an aggregate fair market value (as reasonably determined by person(s) or firm(s) to be designated by the Board (or the Regional Executive Committee, if so authorized by the Board)) equal to the Distribution Amount or Affiliate’s pro rata share of any Return of Capital, as the case may be. Any property of DBNY distributed pursuant to this Section 2(f) will thereafter no longer be subject to the sharing arrangement between the Parties as set forth in this Agreement and the Revenue Sharing Agreement.
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Related to Distribution and Payments from DBNY

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  • COMPENSATION AND PAYMENTS 1.1 The Owner shall pay the Contractor to furnish all labor, equipment, materials and incidentals necessary for the construction of the Work described in the Specifications and shown on the Drawings the Contract Amount as shown below. Base Bid $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Total Contract Amount $0.00

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  • When Must Distributions from a Xxxx XXX Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.

  • How Are Distributions from a Xxxx XXX Taxed for Federal Income Tax Purposes Amounts distributed to you are generally excludable from your gross income if they (i) are paid after you attain age 59½, (ii) are made to your beneficiary after your death, (iii) are attributable to your becoming disabled, (iv) subject to various limits, the distribution is used to purchase a first home or, in limited cases, a second or subsequent home for you, your spouse, or you or your spouse’s grandchild or ancestor, or (v) are rolled over to another Xxxx XXX. Regardless of the foregoing, if you or your beneficiary receives a distribution within the five-taxable-year period starting with the beginning of the year to which your initial contribution to your Xxxx XXX applies, the earnings on your account are includable in taxable income. In addition, if you roll over (convert) funds to your Xxxx XXX from another individual retirement plan (such as a Traditional IRA or another Xxxx XXX into which amounts were rolled from a Traditional IRA), the portion of a distribution attributable to rolled-over amounts which exceeds the amounts taxed in connection with the conversion to a Xxxx XXX is includable in income (and subject to penalty tax) if it is distributed prior to the end of the five-tax-year period beginning with the start of the tax year during which the rollover occurred. An amount taxed in connection with a rollover is subject to a 10% penalty tax if it is distributed before the end of the five-tax-year period. As noted above, the five-year holding period requirement is measured from the beginning of the five-taxable-year period beginning with the first taxable year for which you (or your spouse) made a contribution to a Xxxx XXX on your behalf. Previously, the law required that a separate five-year holding period apply to regular Xxxx XXX contributions and to amounts contributed to a Xxxx XXX as a result of the rollover or conversion of a Traditional IRA. Even though the holding period requirement has been simplified, it may still be advisable to keep regular Xxxx XXX contributions and rollover/ conversion Xxxx XXX contributions in separate accounts. This is because amounts withdrawn from a rollover/conversion Xxxx XXX within five years of the rollover/conversion may be subject to a 10% penalty tax. As noted above, a distribution from a Xxxx XXX that complies with all of the distribution and holding period requirements is excludable from your gross income. If you receive a distribution from a Xxxx XXX that does not comply with these rules, the part of the distribution that constitutes a return of your contributions will not be included in your taxable income, and the portion that represents earnings will be includable in your income. For this purpose, certain ordering rules apply. Amounts distributed to you are treated as coming first from your non-deductible contributions. The next portion of a distribution is treated as coming from amounts which have been rolled over (converted) from any non-Xxxx IRAs in the order such amounts were rolled over. Any remaining amounts (including all earnings) are distributed last. Any portion of your distribution which does not meet the criteria for exclusion from gross income may also be subject to a 10% penalty tax. Note that to the extent a distribution would be taxable to you, neither you nor anyone else can qualify for capital gains treatment for amounts distributed from your account. Similarly, you are not entitled to the special five- or ten- year averaging rule for lump-sum distributions that may be available to persons receiving distributions from certain other types of retirement plans. Rather, the taxable portion of any distribution is taxed to you as ordinary income. Your Xxxx XXX is not subject to taxes on excess distributions or on excess amounts remaining in your account as of your date of death. You must indicate on your distribution request whether federal income taxes should be withheld on a distribution from a Xxxx XXX. If you do not make a withholding election, we will not withhold federal or state income tax. Note that, for federal tax purposes (for example, for purposes of applying the ordering rules described above), Xxxx IRAs are considered separately from Traditional IRAs.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

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