Distribution of Net Income. A. All Net Income, if any, of the Partnership for each calendar year shall be distributed in the following order of priority:
(i) Each Limited Partner shall be paid at least annually (with respect to such Limited Partner's Capital Contribution), from time to time, a total amount of cash equal to the product of Net Income times a percentage, calculated annually, which shall equal the product of the following three factors: (a) one-fourth of one percent (.0025) multiplied by (b) the quotient of $1,900,000 divided by the sum of the General Partners' Adjusted Capital Contributions multiplied by (c) the quotient of the total Capital Contribution of the respective Limited Partner divided by $25,000. This calculation of percentage of participation shall be made at the end of each calendar year and used in distributing Net Income earned during the following year. Notwithstanding the foregoing, for the year 1987 each Limited Partner shall be paid (with respect to such Limited Partner's Capital Contribution) a total amount of cash equal to the product of Net Income times a percentage which shall equal the product of the following three factors: (a) one-fourth of one percent (.0025) multiplied by (b) the quotient of $1,900,000 divided by $24,251,182 multiplied by (c) the quotient of the total Capital Contribution of the respective Limited Partner divided by $25,000.
(ii) Each Class I Subordinated Limited Partner shall be paid within 30 days after the end of each calendar quarter (on a non-cumulative basis) an amount of cash equal to 25% of the product of (a) the one year Constant Maturity Treasury Rate as currently disclosed in the Federal Reserve Statistical Released H.15 (the "Treasury Rate") plus 150 basis points times (b) the current Capital Contribution of the Class I Subordinated Limited Partner. The applicable Treasury Xxxx Rate shall be the Treasury Xxxx Rate as stated for the week ended just prior to or on the last business day of the preceding calendar year; provided however that no such payment shall be made to any Class I Subordinated Limited Partner if for the prior calendar quarter the Partnership did not have Net Income sufficient to pay the full amount due all Class I Subordinated Limited Partners pursuant to this Section 8.1A(ii). If any payment is not made, as herein above provided, the Partnership shall never be required to make such missed payment in the future. No payment made pursuant to this Section 8.1A(ii) shall be considered a guaranteed pay...
Distribution of Net Income. Initial distribution of net income will occur within six (6) months of receipt of proceeds from marketing and/or commercialization of intellectual property. Subsequent distribution will be made semi-annually on or about June 1 and December 1 each year. If an infringement suit or claim of patent or copyright invalidity is brought against the University, external intermediary, and/or Creator during the life of the patent or copyright, the net income distribution attributable to that patent or copyright may be halted during the pendency of the suit, and adjusted accordingly for expenses from defending such suits or claims, and for any settlement or judgment.
Distribution of Net Income. (a) The Board of Governors shall determine annually what part of the Fund's net income shall be placed to reserve and what part, if any, shall be distributed.
(b) If any distribution is made, there shall first be distributed a two percent non-cumulative payment to each member on the amount by which seventy-five percent of its quota exceeded the Fund's average holdings of its currency during that year. The balance shall be paid to all members in proportion to their quotas. Payments to each member shall be made in its own currency.
Distribution of Net Income. An amount equal to 50% of the Distributable Net Income (as hereinafter defined) shall be distributed to each party from time to time, as determined by the Management Committee. "Distributable Net Income" for any period shall mean the excess, if any, of (i) the net income (computed without regard to any deduction for depreciation of Venture assets) for such period over (ii) the aggregate net losses for all prior periods to the extent not offset against net income for prior periods in computing "Distributable Net Income" for such prior periods.
Distribution of Net Income. Article 36 After approval of the annual report, the net income of the Bank shall be distributed at the discretion of the Council of the Bank and may be added to the reserve capital or used for other purposes.
Article 37 The procedure for admission of new members and withdrawal from the Bank is defined in Articles VII and IX of the Agreement.
Distribution of Net Income. Client shall cause the Net Income of the Proposed Project to be distributed as follows: First, until the first $3,000,000.00 of the EB‐5 Financing is returned to the EB‐5 investors, 80% of the cash will be returned to the EB‐5 investors and 20% to owners of the Owner Entity. Second, after the first $3,000,000.00 of the EB‐5 Financing is returned to the EB‐5 investors and until the entire amount of the EB‐5 Financing has been returned to the EB‐5 investors, 70% of the cash will be returned to the EB‐5 investors and 30% to owners of the Owner Entity. Third, after the entire amount of the EB‐5 Financing has been returned to the EB‐5 investors, 100% of the cash will be returned to owners of the Owner Entity.
Distribution of Net Income. While the Surviving Settlor is living, the Trustees shall pay to or use and apply for the benefit of the Surviving Settlor all the net income in monthly or other convenient installments, but not less frequently than quarterly.
Distribution of Net Income. Distribution to Owner will be net of Agent's commissions, advertising and/or other authorized expenses, as well as Hawaii State General Excise Tax to which Agent will pay on behalf of Owner, if so instructed in writing, as long as Agent is holding sufficient funds in the Owner’s account. Such net income will be disbursed to the Owner by the 15th day of each month unless Owner instructs payment on a later date, or Tenant fails to pay rent on time. Any deposits made after the 15th will be reflected in the following month.
Distribution of Net Income. Any Net Income resulting from the sale of Mineral Products for distribution to the Participants shall be calculated by the Operator separately for each Participant at the end of each calendar month and shall be paid monthly within fifteen (15) days after the end of each calendar month following payment to the Management Committee by each Participant of its respective Cost Share outstanding as at the end of that calendar month. Until such time as Yukon Inc. has recovered its $1,000,000 contribution, the Management Committee shall allocate and pay the first 75% of any Net Income from the sale of Mineral Products to Yukon Inc. The remaining 25% of such Net Income shall be distributed to the Participants in accordance with their respective Interests. After Yukon Inc. has been repaid its $1,000,000 contribution, all Net Income shall be distributed to the Participants in accordance with their respective Interests.
Distribution of Net Income. (a) Net Income shall be distributed at least at the end of each calendar year to each partner in accordance with his or her Partnership percentage, as set forth in paragraph 1.2 above. Notwithstanding, the managing partner will attempt to distribute net income more frequently, when and if any exist. Such provisional distributions shall be at the discretion of the managing partner, or shall be made if commanded by a majority vote.
(b) The percentages set forth on paragraph 1.2 above may be changed by a unanimous vote of the partners.
(c) The Partners shall bear net losses and expenses, excluding draws of anticipated net income by any partner, in the same ratio as they share Net Income. No partner shall be required to contribute additional capital in order to pay salaries or draws of anticipated net income for any other partner.
(d) Any partner’s distribution of net profits shall be net of any draws by that partner of anticipated net profits.
