Distribution of Distributable Funds Sample Clauses

Distribution of Distributable Funds. (a) The Managers shall calculate and determine the amount of Distributable Funds for each applicable period. Except as provided in Sections 5.2(b), 6.1(b) or 13.3 or otherwise provided hereunder, Distributable Funds, if any, shall be distributed to the Members, in proportion to their Percentage Interests, on the 15th day of each month or from time to time as determined by the Managers. (b) Any distributions otherwise payable to a Member under this Agreement shall be applied first to satisfy amounts due and payable on account of the indemnity and/or contribution obligations of such Member under this Agreement and/or any other agreement delivered by such Member to the Company or any other Member but shall be deemed distributed to such Member for purposes of this Agreement.

Distribution of Distributable Funds. Except as provided in Sections 5.2(b), 6.2, 6.3, 6.4 or 13.3 or otherwise provided hereunder, Distributable Funds, if any, shall be distributed to the Partners quarterly or from time to time as determined by the General Partner. Such Distributable Funds shall be distributed in the following order and priority (in each case commencing with clause (a) followed in order by clauses (b) and (c) below, to the extent applicable at the time of such distribution, after taking into account all prior Capital Contributions and distributions, including without limitation, any Capital Contributions made since the date of the immediately preceding distribution): (a) First, to the Partners in proportion to their respective Percentage Interests until both of Starwood and JVP shall realize through Distributions actually received an 10% Internal Rate of Return (the amount necessary at any time to be distributed to Starwood and JVP to result in such realization by Starwood and JVP of an 10% Internal Rate of Return is herein referred to as the “First Priority Amount”); provided, that if either Partner receives its First Priority Amount before the other Partner, then 100% of Distributions shall be made to such other Partner until it has also received its First Priority Amount; (b) Second, the balance, if any, of such Distributable Funds remaining after the distributions pursuant to Section 6.1(a) shall be distributed to the Partners in proportion to their respective Second Tier Percentage Interests until, and to the extent necessary such that, Starwood and JVP shall realize through all Distributions theretofore received under this subsection (b) and subsection (a) above a 20% Internal Rate of Return (the amount, in excess of the First Priority Amount, necessary at any time to be distributed to Starwood and JVP to result in such realization by Starwood and JVP of a 20% Internal Rate of Return in the aggregate (i.e., an aggregate return including, and not in addition to, the First Priority Amount) is herein referred to as the “Second Priority Amount”); provided, that if either Partner receives its Second Priority Amount before the other Partner, then 100% of Distributions shall be made to such other Partner until it has also received its Second Priority Amount; and (c) Third, the balance, if any, of such Distributable Funds remaining after the distributions pursuant to Sections 6.1(a) and (b) shall be distributed to the Partners in proportion to their respective Third Tier Percen...

Distribution of Distributable Funds. (a) The Management Committee shall calculate and determine the amount of Distributable Funds for each applicable period. Except as provided in Sections 5.2(b), 6.1 or 13.3 or otherwise provided hereunder, Distributable Funds, if any, shall be distributed to the Members, on a monthly basis based on a calendar year, so long as the Loan is outstanding. Thereafter, such distributions shall be made on the 15th day of each month or from time to time as determined by the Management Committee. (b) Any Distributions otherwise payable to a Member under this Agreement shall be applied first to satisfy amounts due and payable on account of the indemnity and/or contribution obligations of such Member under this Agreement and/or any other agreement delivered by such Member to the Company or any other Member but shall be deemed distributed to such Member for purposes of this Agreement. (c) Distributable Funds shall be distributed in the following order and priority: (1) First, to such Members who shall have made additional Capital Contributions with respect to the Default Amount of a Defaulting Member under Section 5.2(b)(3) in proportion to the aggregate sum of the accrued but unpaid Preferred Return with respect to such additional Capital Contributions until each such Member shall realize through Distributions and actually received the Preferred Return with respect to such additional Capital Contributions; (2) Second, to such Members who shall have made additional Capital Contributions with respect to the Default Amount of a Defaulting Member under Section 5.2(b)(3) in proportion to the aggregate sum of such additional Capital Contributions until each such Member shall realize through Distributions and actually received an amount equal to such additional Capital Contributions; (3) Third, to the Members in proportion to the aggregate sum of the accrued but unpaid Preferred Return with respect to the Additional Capital Contributions of a Member under Section 5.2(a) until each such Member shall realize through Distributions and actually received the Preferred Return with respect to such Additional Capital Contributions; (4) Fourth, to the Members in proportion to the aggregate sum of the Additional Capital Contributions of the Members under Section 5.2(a) until each such Member shall realize through Distributions and actually receives an amount equal to such Additional Capital Contributions; (5) Fifth, to the Members in proportion to their respective Percentage Interests ...

Distribution of Distributable Funds. In the event cash or cash equivalents held by the JVC exceed the net anticipated cash requirements (excluding such items as reserves and capital expansion plans) of the JVC for the immediately-following semi-annual period (as set forth in the Annual Budget and Business Plan (the “Business Plan”) or any subsequent approved budget), such excess cash shall be applied in the following order: (1) to the repayment of all outstanding loans from Members or its Affiliates to maintain the JVC’s debt/equity ratio required under the then-existing Business Plan; and (2) to the Members as a distribution in accordance with Section 8.2 and 8.3. Any JVC distribution of cash or property must be approved by the JVC Board of Directors and shall be distributed to each Member in proportion to its respective Percentage Interest immediately prior to such distribution.

Distribution of Distributable Funds. Within twenty (20) days following the end of each Fiscal Quarter, the Manager shall make a preliminary calculation of the amount of Distributable Funds for such Fiscal Quarter and shall promptly deliver such calculations to the Board for its approval in accordance with Section below. Distributable Funds, if any, shall be distributed to the Members in accordance the provisions of this Agreement within thirty (30) days of the end of the Fiscal Quarter in accordance with each Member’s Percentage Interest as set forth in Section .

Distribution of Distributable Funds. The Manager shall calculate and determine the amount of Distributable Funds for each applicable period. Except as provided in Sections 5.2(b), 6.1(b) or 13.3 or otherwise provided hereunder, Distributable Funds, if any, shall be distributed to the Members, in proportion to their Percentage Interests, on the 15th day of each month.

Distribution of Distributable Funds. (a) The Management Committee shall calculate and determine the amount of Distributable Funds for each applicable period. Except as provided in Sections 5.2(b), 6.1 or 13.3 or otherwise provided hereunder, Distributable Funds, if any, shall be distributed to the Members, on a monthly basis based on a calendar year, so long as either of the Loans is outstanding. Thereafter, such distributions shall be made on the 15th day of each month or from time to time as determined by the Management Committee. (b) Any Distributions otherwise payable to a Member under this Agreement shall be applied first to satisfy amounts due and payable on account of the indemnity and/or contribution obligations of such Member under this Agreement and/or any other agreement delivered by such Member to the Company or any other Member but shall be deemed distributed to such Member for purposes of this Agreement. (c) During the first twenty four (24) months of the Initial Term (as defined in the Management Agreement), if Distributable Funds for any calendar quarter (to be determined as soon as reasonably practicable following the expiration of such calendar quarter) are insufficient to satisfy the Minimum Return for all Members for such calendar quarter, then the Property Management Fee due to Property Manager for such calendar quarter pursuant to the Management Agreement shall be withheld from the Property Manager and treated as Distributable Funds payable to the Members, up to the amount necessary to satisfy the Minimum Return for all Members for such calendar quarter. The balance of any Property Management Fees payable with respect to such calendar quarter, if any, shall be paid to Property Manager in accordance with the Property Management Agreement. The portions of the Property Management Fee withheld from the Property Manager and distributed to the Members pursuant to this Section shall be referred to herein as the “Deferred Management Fees.” If Distributable Funds for any calendar quarter are independently sufficient to meet the Minimum Return for such quarter with respect to all Members after payment of the Property Management Fee to Property Manager with respect to such calendar quarter, then the Property Manager shall be entitled to payment of any existing Deferred Management Fees from any excess Distributable Funds (i.

Distribution of Distributable Funds. Except as provided in Section 10.3, Distributable Funds, if any, shall be distributed to the Members not less frequently than each fiscal quarter and at the times determined by the Management Committee as follows: (a) First, to Novartis until Novartis has received cumulative distributions for the current Fiscal Year and all prior Fiscal Years equal to the Novartis Preferred Return for all such Fiscal Years. (b) Second, remaining Distributable Funds shall be distributed as follows: (i) 70% to Novartis and 30% to Noven until the cumulative amount distributed to the Members under this Section 7.1(b)(i) equals the amount of Net Income allocated to the Members for all prior Fiscal Years under Section 6.1(a)(ii)(A) plus an amount equal to the product of $30,000,000 multiplied by the Vivelle Quarterly Net Income Ratio; (ii) 60% to Novartis and 40% to Noven until the cumulative amount distributed to the Members under this Section 7.1(b)(ii) equals the amount of Net Income allocated to the Members for all prior Fiscal Years under Section 6.1(a)(ii)(B) plus an amount equal to the product of $10,000,000 multiplied by the Vivelle Quarterly Net Income Ratio; and (iii) Thereafter, to the Members in proportion to their respective Percentage Interests.

Distribution of Distributable Funds. (a) General Partner shall cause the Partnership to, as soon as reasonably practical as determined by General Partner in accordance with the Performance Standard (and in any event, no less frequently than quarterly), make Distributions of Distributable Funds to the Partners in the following order of priority: (1) First, (x) to the Partners that have an accrued and unpaid Preferred Return Amount, pari passu and pro rata in proportion to their aggregate accrued and unpaid Preferred Return Amounts, until the accrued and unpaid Preferred Return Amount of each Partner is reduced to zero; and thereafter (y) to the Partners that have Undistributed Preferred Contributions, pari passu and pro rata in proportion to their aggregate Undistributed Preferred Contributions, until the Undistributed Preferred Contributions of each Partner is reduced to zero; (2) Second, to the Partners pari passu and pro rata in proportion to their respective Percentage Interests until Investor Partner has received a cumulative ten percent (10%) Internal Rate of Return; (3) Third, thirty percent (30%) to the LXP Partners pro rata in proportion to their respective Percentage Interests, and seventy percent (70%) to Investor Partner, pari passu until Investor Partner has received a cumulative fifteen percent (15%) Internal Rate of Return; and (4) Thereafter, forty-five percent (45%) to the LXP Partners pro rata in proportion to their respective Percentage Interests, and fifty-five percent (55%) to Investor Partner, pari passu. (b) Notwithstanding anything to the contrary, if General Partner is replaced for Cause in accordance with Section 8.1(c)(i), then commencing as of the Removal Date, Distributable Funds shall thereafter no longer be distributed in accordance with Sections 5.1(a)(2) – (4) but shall instead thereafter be Distributed to the Partners first in accordance with Section 5.1(a)(1) and thereafter in proportion to their respective Percentage Interests.

Distribution of Distributable Funds. (a) The Management Committee shall calculate and determine the amount of Distributable Funds for each applicable period. Except as provided in Sections 5.2(b), 6.1(b) or 13.3 or otherwise provided hereunder, Distributable Funds, if any, shall be distributed to the Members, in proportion to their Percentage Interests, on a semi-annual basis based on a calendar year, so long as the Loan is outstanding. Thereafter, such distributions shall be made on the 15th day of each month or from time to time as determined by the Management Committee. (b) Any distributions otherwise payable to a Member under this Agreement shall be applied first to satisfy amounts due and payable on account of the indemnity and/or contribution obligations of such Member under this Agreement and/or any other agreement delivered by such Member to the Company or any other Member but shall be deemed distributed to such Member for purposes of this Agreement.