Distributions for Taxes. (a) The Partnership shall distribute to each Partner in one or more payments, including payments described in paragraph (b) from time to time during each year, but in no event later than March 1 of the year immediately following such year, an aggregate cash sum equal to the product of (i) Tax Amounts in respect of the taxable year, or portion thereof, for which such distribution is being made and (ii) the Partner's Percentage Interest. In addition, the Partnership shall make additional pro rata distributions as are necessary to reflect adjustments, as determined in good faith by the board of directors of the General Partner, to any item affecting Tax Amounts, as reflected on the Partnership's tax return, as it may be amended from time to time, or as a result of a concluded tax audit.
(b) In addition to the certificates required by Section 5.7, the Partnership shall furnish the Partners with such information as they shall reasonably request from time to time respecting estimates of the Partnership's taxable income or loss (and items thereof) for any fiscal year or portion thereof. If, in any year, any Partner shall be required to make federal, state or local estimated income tax payments under applicable law and regulations, then, at least thirty (30) days prior to the date (the "Estimated Payment Date") upon which any such payments are due, the Partnership shall deliver to each Partner the certificates required by Section 5.7, indicating the amount (the "Estimated Payment") of the tax in respect of the respective Tax Amounts due on the Estimated Payment Date, and not later than fifteen (15) days prior to such Estimated Payment Date, the Partnership shall pay to such Partner an amount equal to such Estimated Payment. The amount of each Estimated Payment received by such Partner shall be treated as a non-interest bearing advance against the amounts distributable in respect of such Partner's pro rata share of Tax Amounts to such Partner for such year. If the aggregate amount of the Estimated Payments received by a Partner for any year shall exceed the distribution to which such Partner actually is entitled under paragraph (a) above, such Partner shall forthwith repay such excess to the Partnership on or before the date set forth in paragraph (a) above, unless such excess shall have been paid to taxing authorities in which event such excess shall be applied to reduce the amount otherwise distributable pursuant to this Section 6.2 in respect of the Partnership'...
Distributions for Taxes. 30 Section 6.3.
Distributions for Taxes. The Administrative General Partner shall also distribute after the completion of each calendar year such amounts of Cash From Sales or Financings (when considered with prior Distributions of Adjusted Cash from Operations) sufficient to allow a Limited Partner in a 25% federal income tax bracket to pay the income taxes due with respect to Net Income derived by him from the Sale or Disposition giving rise to such tax liability.
Distributions for Taxes. Subject to any restrictions imposed by third-party loans made to the Company, the Board shall make distributions from Distributable Cash Flow to the Members, pro rata in proportion to each Member’s Percentage Interest, within ninety (90) days after the end of each fiscal year of the Company (including any short fiscal year of the Company) in an aggregate amount sufficient such that the amount of distributions received by each Member pursuant to this Section 9.1A for such year and pursuant to Section 9.1B(iv) during such year equals or exceeds its estimated income tax liability for such year. For this purpose, the estimated income tax liability of a Member for a year equals (i) the highest normal (exclusive of personal holding company, accumulated income, alternative minimum tax and other similar taxes) combined federal and state income tax rate in effect for individuals or corporations (whichever is higher) for such year multiplied by (ii) the net taxable income of the Company for such year allocated to such Member. The calculation of net taxable income under this paragraph shall not include any built-in gain or built-in loss (if any) allocated to a Member under this Agreement under the principles of Section 704(c) of the IRC. Such distributions are hereinafter referred to as “Tax Distributions”. Tax Distributions, if any, shall be in cash and shall be treated as an advance of each Member’s distributions pursuant to Section 9.
Distributions for Taxes. (a) The Partnership shall distribute to each Partner in one or more payments, including payments described in paragraph (b) from time to time during each year, but in no event later than March 1 of the year immediately following such year, an aggregate cash sum equal to the product of (i) Tax Amounts in respect of the taxable year, or portion thereof, for which such distribution is being made and (ii) the Partner's Percentage Interest. In addition, the Partnership shall make additional pro rata distributions as are necessary to reflect adjustments, as determined in good faith by the board of directors of the General Partner, to any item affecting Tax Amounts, as reflected on the Partnership's tax return, as it may be amended from time to time, or as a result of a concluded tax audit.
(b) In addition to the certificates required by Section 5.7, the Partnership shall furnish the Partners with such information as they shall reasonably request from time to time respecting estimates of the Partnership's taxable income or loss (and items thereof) for any fiscal year or portion thereof. If, in any year, any Partner shall be required to make federal, state or local estimated income tax payments under applicable law and regulations, then, at least thirty (30) days prior to the date (the "Estimated Payment Date") upon which any such payments are due, the Partnership shall deliver to each Partner the certificates required by Section 5.7, indicating the amount (the
Distributions for Taxes. Unless otherwise unanimously agreed to by the Members, the Company shall, to the extent it has Available Cash, annually make distributions to the Members in proportion to their Percentage Interests to permit the Members to pay Federal income taxes with respect to their allocable shares of income from the Company for such taxable year. Such annual distributions shall be made within ninety (90) days of the close of the Company’s taxable year in question. For purposes of this Section 4.2.1, and unless otherwise unanimously agreed to by the Members, the Managers shall assume that the Members’ income from the Company is subject to the highest marginal federal income tax rate applicable to individuals.
Distributions for Taxes. If the Managing General Partner determines that distributions under the preceding paragraph 4.2 are insufficient to enable the Partners to pay federal and state income taxes attributable to Partnership items, then the Partnership shall make additional distributions as the Managing General Partner decides for that purpose.
Distributions for Taxes. Before March 15 of the year following the end of a fiscal year the accountants employed by the Partnership shall determine the marginal amount of federal, state and local income taxes incurred by each Partner on such Partner's allocable share of the Profits and Losses of the Partnership for such fiscal year. Before March 31 following such March 15 the Partnership shall distribute to each Partner in respect of such fiscal year, but only after giving priority to the distributions provided for in Section 4.1(a), an amount equal to the EXCESS (if any) OF such marginal taxes OVER the aggregate amount otherwise distributed to such Partner in respect of such fiscal year.
Distributions for Taxes. During the first two years after the Final Closing Date, the Managing General Partner shall also distribute after the completion of each calendar year such amounts of Cash From Sales or Refinancings (when considered with prior distributions of Distributable Cash From Operations) sufficient to allow a Limited Partner in a 25% federal income tax bracket to pay the income taxes due with respect to Net Income derived by him from the Sale or Disposition giving rise to such Cash From Sales or Refinancings.
Distributions for Taxes. Subject to the provisions of Section 9.5, the Company shall annually distribute to each Member an amount of cash sufficient in amount to pay any state and federal income taxes on income earned by the Company and allocated to such Member, based upon the assumption that each Member pays federal and state income taxes at the marginal rate then applicable to the Member whose marginal combined federal and state income tax rate (taking into account the deductibility of state income taxes for federal income tax purposes) is the highest of any Member.
