Distributions of Partnership Assets. Subject to restrictions under applicable law, or otherwise under this Agreement, the General Partner may elect from time to time to make distributions of cash deemed available, giving due regard to Partnership income, its debts and obligations then owing, and the need for reasonable reserves against debts and obligations coming due in the future. Distributions will be made in accordance with Percentage Interests to Partners (or their assignees) of record on the actual date of the distribution. Neither the Partnership nor any General Partner will incur any liability for making distributions in accordance with this provision.
Distributions of Partnership Assets. Subject to restrictions under applicable law, or otherwise under this Agreement, the General Partner may elect from time to time to make distributions of cash deemed available in accordance with Section 6.4(a), giving due regard to Partnership income, its debts and obligations then owing, and the need for reasonable reserves against debts and obligations coming due in the future. In addition, the General Partner may make distributions under Article 8 in accordance with the priority set forth in Section 6.4(a). Distributions will be made in accordance with the provisions of this Section 6.4 to Partners (or their assignees) of record on the actual date of the distribution. Neither the Partnership nor any General Partner will incur any liability for making distributions in accordance with this provision.
(a) The General Partner may distribute available cash from time to time to the Partners, or any Partnership assets or property after satisfying Partnership liabilities pursuant to Article 8, in the following manner and order of priority:
(i) First: to the Class D Limited Partners in payment of their unpaid Class D Preferred Return, applied in the order of its chronological accumulation (oldest to newest), and secondarily, with respect to Class D Preferred Return of equivalent age from the date of the respective Class D Capital Contributions, applied pro-rata in accordance with the amount of such unpaid Class D Preferred Return payable to each Class D Limited Partner at the time of such distribution, until each Class D Limited Partner has received cumulative distributions pursuant to this clause (i) in an amount equal to the Class D Preferred Return on all Class D Capital Contributions made by such Class D Limited Partner to the Partnership;
(ii) Second: to the Class D Limited Partners, pro-rata in accordance with their respective Class D Sharing Ratios, until the Class D Limited Partners have received cumulative distributions pursuant to this clause (ii) in an aggregate amount equal to their aggregate Class D Capital Contributions;
(iii) Third: to the Class C Limited Partners in payment of their unpaid Class C Preferred Return, applied in the order of its chronological accumulation (oldest to newest), and secondarily, with respect to Class C Preferred Return of equivalent age from the date of the respective Class C Capital Contributions, applied pro-rata in accordance with the amount of such unpaid Class C Preferred Return payable to each Class C Limited Part...
Distributions of Partnership Assets. In its sole discretion, the General Partner may distribute, 99% to the Unitholders and 1% to the General Partner, Partnership property other than cash. combinations of cash and property, and additional Units, Depositary Units, or other securities of the Partnership which have been authorized and issued pursuant to the terms of this Agreement.
