Common use of DISTRIBUTION OF TAX RESERVE Clause in Contracts

DISTRIBUTION OF TAX RESERVE. Within 60 days after the end of each Joint Venture fiscal year during which a Tax Reserve has been created, the Joint Venture shall distribute such Tax Reserve (less any amounts withheld pursuant to Articles 1441, 1442, 1445 or 1446 of the Code, unless otherwise provided in Article 6.2(g)) to the Members, such distribution to be allocated among the Members based on each Member's Percentage Interest.

DISTRIBUTION OF TAX RESERVE. Within 60 days after the end of each Joint Venture fiscal year during which a Tax Reserve has been created, the Joint Venture shall distribute such Tax Reserve (less any amounts withheld pursuant to Articles Sections 1441, 1442, 1445 or 1446 of the Code, unless otherwise provided in Article Section 6.2(g)) to the MembersPartners, such distribution to be allocated among the Members Partners based on each MemberPartner's Percentage Interest.