Common use of Distributions from Operations Clause in Contracts

Distributions from Operations. Not less frequently than on a quarterly basis, the General Partner, after providing for the Partnership's debts, obligations, capital needs and reserves as required by the manager of the Venue, shall make distributions of all Distributable Cash to the Partners in accordance with each of their respective Participating Percentages. The Partners agree that payments to lenders which have made Permitted Loans, affiliated with the Partnership or otherwise, have a priority over distributions to the Partners. Solely with respect to the lender from which the General Partner obtains a Permitted Loan to fund a redemption or purchase under Article VII of this Partnership Agreement and/or Section 19.2.B of the Lease, payments to such lender shall be deemed to be (i) a part of Distributable Cash and (ii) a distribution to the General Partner for the purpose of calculating the amount of available Distributable Cash to be paid to the Partners. The payments, if any, to a lender of a Permitted Loan that are deemed to be received by General Partner for calculation of Distributable Cash shall be treated as a distribution to the General Partner. To the extent there is Distributable Cash available, then the Limited Partner shall receive a distribution which equals on a proportionate basis the deemed distribution received by the General Partner. To the extent there are not sufficient funds to make the distribution, then the Limited Partner shall receive a priority distribution as to the General Partner's distribution from the next distribution of Distributable Cash.

Distributions from Operations. Not less frequently than on a quarterly basis, the General Partner, after providing for the Partnership's ’s debts, obligations, capital needs and reserves as required by the manager of the Venue, shall make distributions of all Distributable Cash to the Partners in accordance with each of their respective Participating Percentages. The Partners agree that payments to lenders which have made Permitted Loans, affiliated with the Partnership or otherwise, have a priority over distributions to the Partners. Solely with respect to the lender from which the General Partner obtains a Permitted Loan to fund a redemption or purchase under Article VII of this Partnership Agreement and/or Section 19.2.B of the Lease, payments to such lender shall be deemed to be (i) a part of Distributable Cash and (ii) a distribution to the General Partner for the purpose of calculating the amount of available Distributable Cash to be paid to the Partners. The payments, if any, to a lender of a Permitted Loan that are deemed to be received by General Partner for calculation of Distributable Cash shall be treated as a distribution to the General Partner. To the extent there is Distributable Cash available, then the Limited Partner shall receive a distribution which equals on a proportionate basis the deemed distribution received by the General Partner. To the extent there are not sufficient funds to make the distribution, then the Limited Partner shall receive a priority distribution as to the General Partner's ’s distribution from the next distribution of Distributable Cash.