Common use of Distributions of Net Cash Flow Clause in Contracts

Distributions of Net Cash Flow. Distributions of Net Cash Flow to the Members shall be made as follows: (a) quarterly, to the Members in proportion to and to the extent of their relative Percentage Interests, an amount not in excess of the Tax Distribution for the Taxable Year; provided, however, that distributions under this Section 4.1(a) shall be treated as advance distributions under Section 4.1(b), with the result that distributions otherwise made under Section 4.1(b) to such Member shall be reduced by the amount of advances made pursuant to this Section 4.1(a); and (b) upon the approval of and in the amount so approved by the Management Committee acting in its sole discretion, to the Members in proportion to their relative Percentage Interests.

Appears in 2 contracts

Samples: Operating Agreement (Seacor Smit Inc), Operating Agreement (Chiles Magellan LLC)

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Distributions of Net Cash Flow. Distributions of Net Cash Flow to the Members shall be made as follows: (a) quarterly, to the Members in proportion to and to the extent of their relative Percentage Interests, an amount not in excess of the Tax Distribution for the Taxable Year; provided, however, that distributions under this Section 4.1(a) shall be treated as advance distributions under Section 4.1(b), with the result that distributions otherwise made under Section 4.1(b) to such Member shall be reduced by the amount of advances made pursuant to this Section 4.1(a)); and (b) upon the approval of and in the amount so approved by the Management Committee acting in its sole discretion, to the Members in proportion to their relative Percentage Interests.

Appears in 1 contract

Samples: Operating Agreement (Duberstein Gary K)

Distributions of Net Cash Flow. Distributions Except as otherwise provided in Section 3.8, distributions of Net Cash Flow to the Members shall be made as follows: (a) quarterly, to the Group A Members and Group B Members in proportion to and to the extent of their relative Percentage Interests, an amount not in excess of the Tax Distribution for the Taxable Year; provided, however, that distributions under this Section 4.1(a) shall be treated as advance distributions under Section 4.1(b), with the result that distributions otherwise made under Section 4.1(b) to such Member shall be reduced by the amount of advances made pursuant to this Section 4.1(a)); and (b) upon the approval of and in the amount so approved by the Management Committee acting in its sole discretion, to the Group A Members and Group B Members in proportion to their relative Percentage Interests.

Appears in 1 contract

Samples: Operating Agreement (Greenmarine Acquisition Corp)

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Distributions of Net Cash Flow. Distributions of Net Cash Flow to the Members shall be made as follows: (a) quarterly, to the Members in proportion to and to the extent of their relative Percentage Interests, an amount not in excess of the Tax Distribution for the Taxable Year; providedPROVIDED, howeverHOWEVER, that distributions under this Section 4.1(a) shall be treated as advance distributions under Section 4.1(b), with the result that distributions otherwise made under Section 4.1(b) to such Member shall be reduced by the amount of advances made pursuant to this Section 4.1(a); and (b) upon the approval of and in the amount so approved by the Management Committee acting in its sole discretion, to the Members in proportion to their relative Percentage Interests.

Appears in 1 contract

Samples: Operating Agreement (Chiles Offshore LLC)

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