Distributions of Operating Cash Sample Clauses

Distributions of Operating Cash. Subject to Section 10(a), Operating Cash, if any, shall be distributed to the Members, at such times as the Board of Managers may determine, in the following manner: one hundred percent (100%) to Members with an Unreturned Capital Contribution on a pro-rata basis in proportion to their Percentage Interests until such time as all Unreturned Capital Contributions are repaid in full, and thereafter to all Members on a pro-rata basis in proportion to their Percentage Interests. The Company shall be operated to maximize the returns to Members in the following manner: (i) the Company’s sole purpose shall be for web and app based marketplace for consumer goods and such purpose may only be amended by a vote of more than two thirds of the Members, (ii) all expenditures shall be made using reasonable business judgment and in good faith to maximize the return to Members (balancing present and future returns as the Board reasonably determines); and (iii) all salaries, bonuses, fees, benefits and expenses shall be reasonably determined by the Board (it being recognized that Members who are employees of or are otherwise service providers to the Company shall not use salaries, bonuses, benefits, fees or expenses as a method of maximizing income from the Company to the detriment of distributions to other Members).
Sample 1
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Distributions of Operating Cash. Operating Cash shall be distributed to the Members, pro rata based on the Members’ respective Capital Ratios, except that no Operating Cash shall be distributed to the Members until all Default Loans and Priority Loans are paid in full.
Sample 1
Distributions of Operating Cash. Distributions of Operating Cash shall be made in the following order and priority: (a) First, to the Limited Partners, pro rata and pari passu, in repayment of all outstanding principal and accrued interest on the Partners’ Default Loans, until each Default Loan has been repaid in full, and without regard to when such Default Loans were made or mature. (b) Second, to Investor LP, until Investor LP has received a nominal preferred return of 9.0% per year, on a cumulative basis, compounded monthly on the last day of each calendar month, on all such Partner’s Unreturned Capital Contributions (the “Investor Preferred Return”). To the extent that Investor LP does not receive the full amount of its accrued Investor Preferred Return as of the last day of any calendar month, then the amount of the unpaid Investor Preferred Return (the “Investor Accrual”) will accrue and be entitled to a return thereon equal to the Investor Preferred Return. (c) Third, to Investor LP, until Investor LP has received a nominal preferred return of 9.0% per year, on a cumulative basis, compounded monthly on the last day of each calendar month, on all such Partner’s Investor Accrual. (d) Fourth, to Investor LP, until Investor LP has received any then outstanding Investor Accrual. For purposes of further certainty, Operator Partners confirm that, in addition to the Investor Preferred Return payable pursuant to subsection (b) and the compounded return on the Investor Accrual payable pursuant to subsection (c), the Investor Accrual will be fully paid pursuant to this subsection (d) before any amounts are paid to Operator LP in accordance with the provisions of subsections (e), (f) and (g) below. Notwithstanding the foregoing, Operator LP shall have the right, but not the obligation, on not less than three (3) Business Days’ prior written notice to the other Partners, to make additional Capital Contributions to the Partnership, at any time, to pay all (or any part) of the then outstanding Investor Accrual (“Operator Contributions to Pay Investor Accrual”), in which event, promptly following the funding of such contributions to the Partnership, the amount so contributed shall be distributed by the Partnership to Investor LP as a payment of the Investor Accrual. (e) Fifth, to Operator LP, until Operator LP has received a nominal preferred return of 9.0% per year, on a cumulative basis, compounded monthly on the last day of each calendar month, on all such Partner’s Unreturned Capital Contribu...
Sample 1
Distributions of Operating Cash. Except as set forth in Section 6.6(c), Operating Cash for any particular period shall be distributed to the Members in proportion to their Percentage Interests. Quarterly distributions shall be made on the last day of each calendar quarter unless such day is not a Business Day in which event the distribution shall be made on the last Business Day of such quarter. Annual distributions shall be made on December 31 of each year unless such day is not a Business Day in which event the distribution will be made on the last Business Day of the year.
Sample 1
Distributions of Operating Cash. The Company shall cause distributions of Operating Cash to be made in the following order and priority: (a) first, to the Members, pro rata and pari passu based on the outstanding principal and accrued but unpaid interest of the Members’ outstanding Default Loans, Priority Loans and Advancement Loans, in repayment of (x) first, any unpaid accrued interest and (y) then to the outstanding principal thereof, until each Default Loan, Priority Loan and Advancement Loan has been repaid in full; (b) second, 100% to Jxxxxxxx until Jxxxxxxx has received the Management Distribution Amount; and (c) third, to the Members, pro rata and pari passu, based on the Members’ respective Percentage Interests.
Sample 1

Related to Distributions of Operating Cash

  • 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.

  • 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.

  • Distributions of Available Cash From Operating Surplus Available Cash that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or Section 6.5 shall be distributed as follows, except as otherwise contemplated by Section 5.6(b) in respect of additional Partnership Interests issued pursuant thereto (including pursuant to Article V with respect to the Preferred Units): (a) First, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the Minimum Quarterly Distribution for such Quarter; (b) Second, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the First Target Distribution over the Minimum Quarterly Distribution for such Quarter; (c) Third, (i) to the General Partner in accordance with its Percentage Interest; (ii) 13% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (c), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Second Target Distribution over the First Target Distribution for such Quarter; (d) Fourth, (i) to the General Partner in accordance with its Percentage Interest; (ii) 23% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (d), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Third Target Distribution over the Second Target Distribution for such Quarter; and (e) Thereafter, (i) to the General Partner in accordance with its Percentage Interest; (ii) 48% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (e); provided, however, if the Minimum Quarterly Distribution, the First Target Distribution, the Second Target Distribution and the Third Target Distribution have been reduced to zero pursuant to the second sentence of Section 6.6(a), the distribution of Available Cash that is deemed to be Operating Surplus with respect to any Quarter will be made solely in accordance with Section 6.4(e).

  • 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 of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • 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.

  • Net Asset Value, Distributions, and Redemptions Section 1. Determination of Net Asset Value, Net Income, and Distributions. Subject to Article III, Section 6 hereof, the Trustees, in their absolute discretion, may prescribe and shall set forth in the By-laws or in a duly adopted resolution of the Trustees such bases and time for determining the per Share net asset value of the Shares of any Series and the declaration and payment of dividends and distributions on the Shares of any Series, as they may deem necessary or desirable.

  • FINANCIAL CONTRIBUTIONS (§5.d): Owner shall use reasonable efforts to seek contributions and grants from Capital Metro Transit Authority (CMTA) and Xxxxxx County.

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