Distribution of Available Cash. Subject to the provisions of this Section 7, the Company's available cash shall be distributed to the Members, in such amounts and only at such times as determined by the Governing Board, in proportion to their respective Percentage Interests. In no event shall any cash distribution be made to the Members unless and until rent due under the Facilities Lease and fees due under the Franchise Agreement are fully paid in the year of any distribution.
Distribution of Available Cash. Periodically, but not less ------------------------------ frequently than quarterly, the Available Cash if any, shall be distributed to the Partners pro rata, in accordance with their respective Partnership Percentages.
Distribution of Available Cash. 8 4.4 Distribution of Net Proceeds from Terminating Capital Transaction .........................................8 4.5 Distribution in Cash Only .....................................8 4.6 Minimum Allocations and Distributions to the General Partner ..8 ARTICLE V MANAGEMENT OF PARTNERSHIP; ADMINISTRATIVE FEE ............................8 5.1 Rights, Powers and Duties of the General Partner ..............8 5.2
Distribution of Available Cash. (a) The holders of the outstanding units of Series B Units shall be entitled to receive, when, as and if declared by the General Partner, out of funds legally available for the payment of distributions of Available Cash, cumulative cash distributions of Available Cash at the rate of 9.85% per annum of the $25.00 per unit liquidation preference of the Series B Units (equivalent to an annual rate of $2.4625 per unit). Such distributions of Available Cash shall accrue daily, shall accrue and be cumulative from (but excluding) July 30, 1999 (the “Original Issue Date”) and shall be payable quarterly in arrears in cash on March 31, June 30, September 30 and December 31 (each, a “Distribution Payment Date”) of each year, commencing September 30, 1999; provided that if any Distribution Payment Date is not a Business Day (as hereinafter defined), then the distributions which would otherwise have been payable on such Distribution Payment Date may be paid on the next succeeding Business Day with the same force and effect as if paid on such Distribution Payment Date and no interest or additional distribution of Available Cash or other sum shall accrue on the amount so payable for the period from and after such Distribution Payment Date to such next succeeding Business Day. The period from and including the Original Issue Date to but excluding the first Distribution Payment Date, and each subsequent period from and including a Distribution Payment Date to but excluding the next succeeding Distribution Payment Date, is hereinafter called a “Distribution Period”. Distributions of Available Cash shall be payable to holders of record as they appear in the Partnership Agreement at the close of business on the applicable record date (each, a “Record Date”), which shall be the 15th day of the calendar month in which the applicable Distribution Payment Date falls or such other date designated by the General Partner for the payment of distributions of Available Cash that is not more than 30 nor less than ten days prior to such Distribution Payment Date. The amount of any distribution of Available Cash payable for any Distribution Period, or portion thereof, shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The distributions of Available Cash payable on any Distribution Payment Date or any other date shall include distributions of Available Cash accrued to but excluding such Distribution Payment Date or other date, as the case may be.
Distribution of Available Cash. A. First, Available Cash is distributed as per the following percentages until the Class A Members have received an amount equal to their respective Unpaid Cash Returns, if any: Class M Member: 4.63% Class A Members: 95.37% 7.B. Second, any remaining Available Cash with respect to such year shall be distributed among all the Members in accordance with their respective Membership Percentages.
Distribution of Available Cash. Except as provided in Section 7.02 or Section 7.03 hereof, all Available Cash shall be distributed by the Partnership within 60 days after the end of each Amphitheater Season to the Partners in proportion to their respective Percentage Interests.
Distribution of Available Cash. No less than twenty percent (20%) of the Available Cash shall be distributed to the Members on monthly or quarterly basis (chosen at the Manager’s discretion) according to their Percentage Interests after payment of all operating expenses.
Distribution of Available Cash. Subject to Sec. 18-607 of the Act, within 90 days after the end of each calendar year, Available Cash, if any, shall be distributed to the Members, pro rata in accordance with their respective Percentage Interests, in an amount equal to the product of (a) the Company's taxable income (as determined by the Company's accountant) for such calendar year, multiplied by (b) the highest combined federal and state marginal income tax rate applicable to a Member and in effect from time to time. Additional distributions may be made at the discretion of a Majority in Interest of the Members.
Distribution of Available Cash. The Available Cash of the Company, if any, shall be distributed to the Members, in equal parts, in amounts and at such time as determined by the Board.
Distribution of Available Cash. (a) Subject to the restrictions set forth in Section 10.3 and in addition to any other distributions required by this Article X, at the end of each calendar month during each Fiscal Year, the Company shall distribute all Available Cash to the Members in accordance with their Percentage Interests.
(b) For purposes of this Section 10.2 and Article X, “Members” shall be limited to Members who at the time of the applicable distribution are entitled to receive distributions hereunder.
(c) Any amounts withheld pursuant to the Code or any provision of any state or local tax law with respect to any payment, distribution or allocation to the Company or the Members shall be treated as amounts distributed to the Members pursuant to this Article X for all purposes of this Agreement. The Board is authorized to withhold from distributions and to pay over to any federal, state or local government any amounts required to be so withheld pursuant to the Code or any provision of any other federal, state or local law and shall allocate such amounts to those Members with respect to which such amounts were withheld.
(d) In the event that the Company or any Member thereof becomes liable as a result of a failure to withhold and remit taxes in respect of payments or allocations made to any other Member or any affiliate thereof under this Agreement or any related agreement (including the Importer Agreement), then, in addition to, and without limiting, any other indemnities for which such other Member may be liable in respect of this Agreement or any related agreement, such other Member shall indemnify and hold harmless the Company or the other Members, as the case may be, in respect of all such taxes, including interest and penalties, and any expenses incurred in connection with such liability. The provisions contained in this Section 10.2(d) shall survive the termination of the Company and the withdrawal of any Member.
