Distribution Policy. Notwithstanding any other provision of this Agreement, distributions will be made only to Member(s) with positive Adjusted Capital Account Balances (calculated following all allocations for the period ending immediately prior to the distribution) and then to each such Member only to the extent of such Member’s positive Adjusted Capital Account Balance.
Distribution Policy. The ordinary income, capital appreciation (realized and unrealized), and principal (both historic dollar value and any principal contributions, accumulations, additions, or reinvestments) allocable to the Fund, net of the fees and expenses set forth in this Agreement, may be committed, granted, or expended pursuant to the distribution (or spending) policy of the Foundation, as such policy may be amended from time to time by the Foundation, solely for purposes described in this Agreement or in Code Section 170(c)(1) or (2)(B) to organizations described in Code Section 509(a)(1), 509(a)(2), or 509(a)(3); provided, however, that such purposes are consistent with the exempt status and purposes of the Foundation. The Foundation’s distribution (or spending) policy, as applied to endowments such as the Fund, shall be designed to take into account total return concepts of investment and spending, with the goal of preserving the real spending power of endowments over time while balancing the need for consistent spending to support the charitable and similar exempt purposes of such endowments.
Distribution Policy. The Company shall distribute the full amount of Operating Profits for each Class B Payment Period as a capital payment or dividend to the Company’s Securityholders on the terms, and subject to the provisions, of this Agreement.
Distribution Policy. Alcoa and Alumina agree that each Enterprise Company must, by the 20th day of the month immediately following the relevant Calculation Date, make a Distribution of:
Distribution Policy. It is intended that there be sufficient distributions from each Fund with respect to each of the Fund’s taxation years so that the Fund is not liable for any non-refundable tax under Part I of the Tax Act, other than alternative minimum tax. The provisions of this Article shall be interpreted so as to give effect to this intention.
Distribution Policy. Distributions of Distributable Cash from the Company may be made at any time as determined by the Board, in their sole and absolute discretion. Distributions will only be made to the extent Distributable Cash is available to the Company, as determined by the Board in its sole and absolute discretion, without requiring (i) the sale or pledge of Company assets at a time or on terms that the Board believes are not in the best interests of the Company, or (ii) a reduction in reserves that the Board determines are necessary or desirable for working capital or other Company purposes.
Distribution Policy. The General Partner may in its sole discretion make distributions of cash or securities at any time and from time to time; provided, however, that no securities will be distributed in kind to the Partners until the earlier to occur of:
Distribution Policy. (a) Subject to Paragraph (b) below, the Company shall distribute Distributable Funds only when, as and if determined by the Board of Managers. Distributable Funds on any distribution date shall be distributed to the Members in the following order of priority:
Distribution Policy. Notwithstanding anything to the contrary in this Agreement and provided that, at all times, the Representatives must comply with applicable laws, the Company shall pay dividends from time to time consistent with the terms specified in “SECTION 10: DISTRIBUTION POLICY” of the Charter with any reference to “each Enterprise Company” and “such Enterprise Company’ being read as a reference to “the Company” and references to “Alcoa and Alumina” being read as references to “the Members”. Distributions are subject to the allocation rules set forth in Section 3.1 of the Tax Protocol.
Distribution Policy. Subject to Acquisition Completion, the Parties agree that they will take all necessary or desirable actions to ensure that the members of the Board of Directors of ITA and the member of the Board of Directors of ASUR appointed by each of them shall propose and cause ASUR and its subsidiaries from time to time to distribute in each financial year (a) (x) no less than 70% of the net profit after tax and retained earnings available for distribution pursuant to applicable law and in no event more than the amount of Excess Cash (as calculated pursuant to Exhibit 3 hereto) for the year 2007, (y) no less than 80% of such net profit and retained earnings for the year 2008 and (z) 100% of such net profit and retained earnings thereafter plus (b) up to the maximum amount of the remaining Excess Cash whether by means of capital reductions (subject to obtaining the approval from ASUR’s operating committee, board of directors and shareholders, as necessary), or otherwise pursuant to applicable law; it being understood that the Parties also agree that ASUR shall distribute interim and final dividends (the “Distribution Policy”). FCP shall vote, and FCP shall cause any and all of his affiliates to vote, their shares in ASUR so as to implement the Distribution Policy. Unless otherwise agreed with CPH, FCP shall not be entitled to, and shall cause any and all of his affiliates not to, make or support or cause any of their appointees, proxy holders, trustees or other to make or support any distribution proposals not in compliance with the Distribution Policy. Failure to comply with this obligation shall constitute a material breach of the ITA Shareholders Agreement, dated as of November 25, 1998 as amended (the “ITA SHA”) by FCP, unless otherwise agreed by the Parties.
