Distributions of Net Profits Sample Clauses

Distributions of Net Profits. 13.2.1 Subject also to the provisions of clause 13.2.2 below, the Companies shall not make any profit distribution pursuant to this Clause 13 (to the extent proposed) if: (a) there is insufficient cash available; (b) it would render the company insolvent; (c) the Board resolves that the company would be left with insufficient funds to meet any current or future contemplated obligations or contingencies; (d) it would materially adversely affect the ability of the company to comply with the Business Plan during the following Financial Year; (e) it would be a distribution in specie; (f) it would be in contravention of the Act; (g) it would be in contravention of the Scheme of Delegation; or (h) the Directors have acted contrary to their duties. 13.2.2 The income and property of HFL Homes shall only be applied to promote the objects of HFL Homes and except as provided below, and only in accordance with the requirements of section 122 of the Housing and Regeneration Act 2008, no part of the income or property of HFL Homes may be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to any Shareholder of HFL Homes. This shall not prevent any payment in good faith by HFL Homes of: (a) reasonable and proper remuneration to any Shareholder for any goods, supplies, works or services supplied to HFL Homes; (b) interest on money lent by a Shareholder to HFL Homes at a reasonable and proper rate and repayment of that money; (c) reasonable and proper rent for premises demised or let by a Shareholder to HFL Homes; and (d) reasonable and proper consideration for premises acquired by HFL Homes from the Shareholder.
Sample 1
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Distributions of Net Profits. 12.2.1 The Company shall not make any profit distribution pursuant to this Clause 12 (to the extent proposed) if: (a) there is insufficient cash available; (b) it would render the company insolvent; (c) the Board resolves that the company would be left with insufficient funds to meet any current or future contemplated obligations or contingencies; (d) it would materially adversely affect the ability of the company to comply with the Business Plan during the following Financial Year; (e) it would be a distribution in specie; (f) it would be in contravention of the Act; (g) it would be in contravention of the Scheme of Delegation; or (h) the Directors have acted contrary to their duties.
Sample 1
Distributions of Net Profits 
Sample 1

Related to Distributions of Net Profits

  • Distributions of Net Cash Flow The Net Cash Flow of the Partnership for each calendar year, shall be distributed to the Partners from time to time, in the discretion of the General Partner, in accordance with the Percentage Interests of the Partners.

  • Allocations of Net Profits and Net Losses Except as otherwise set forth herein, Net Profits and Net Losses shall be allocated for each Fiscal Year to the Members in proportion to their respective Capital Accounts.

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Allocations of Net Income and Net Loss Except as otherwise provided in this Agreement, after giving effect to the special allocations in subparagraph 1(c) and paragraph 2, Net Income, Net Loss and, to the extent necessary, individual items of income, gain, loss or deduction, of the Partnership for each fiscal year or other applicable period of the Partnership shall be allocated among the General Partner and Limited Partners in accordance with their respective Percentage Interests.

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

  • Distributions to Members Section 9.1

  • Distributions of Available Cash An amount equal to 100% of Available Cash with respect to each fiscal quarter of the Partnership shall be distributed simultaneously to the Members in proportion to their relative Percentage Interests within forty-five days after the end of such quarter.

  • Distributions Cumulative Notwithstanding the foregoing, distributions on the Series A Preferred Units will accrue whether or not the terms and provisions set forth in Section 16.2.C hereof at any time prohibit the current payment of distributions, whether or not the Partnership has earnings, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are authorized.

  • Distributions of Distributable Cash Except as otherwise provided in Article VII hereof, Distributable Cash for each Fiscal Year may be distributed to the Holders at such times, if any, and in such amounts as shall be determined in the sole discretion of the Trustees. In exercising such discretion, the Trustees shall distribute such Distributable Cash so that Holders that are regulated investment companies can comply with the distribution requirements set forth in Code Section 852 and avoid the excise tax imposed by Code Section 4982.

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