Common use of Distribution of Reserves Clause in Contracts

Distribution of Reserves. Any reserve amounts so withheld will be deposited by the Managing Member in an interest bearing account at a major bank headquartered in New York City. Upon determination by the Managing Member that circumstances no longer require the retention of any amount reserved pursuant to this Agreement, the Managing Member shall pay such sum to the Members (or their respective Legal Representative), along with any interest earned on such account, at the earliest practicable time.

Distribution of Reserves. Any reserve amounts so withheld will be deposited by the Managing Member Partner in an interest bearing account at a major bank headquartered in New York City. Upon determination by the Managing Member Partner that circumstances no longer require the retention of any amount reserved pursuant to this Agreement, the Managing Member Partner shall pay such sum to the Members Partner (or their respective his Legal Representative), along with any interest earned on such account, at the earliest practicable time.

Distribution of Reserves. Any reserve amounts so withheld will be deposited by the Managing Member in an interest bearing account at a major bank headquartered in New York City. Upon determination by the Managing Member that circumstances no longer require the retention of any amount reserved pursuant to this Agreement, the Managing Member shall pay such sum to the Members (or their respective Legal Representative), along with any interest earned on such account, at the earliest practicable time.. 40 DB1/ 109886103.10