Distributions on Common Units Sample Clauses

Distributions on Common Units. (a) For each full quarter ending on or prior to the Conversion Date, distributions on Class A Units shall be paid from Net LNG Sales Proceeds on each Quarterly Distribution Date following such declaration by the Board to the Members holding Class A Units as they appear on the Schedule A at the close of business on the relevant record date for such distribution. (b) For any distributions of Available Cash following the Conversion Date, distributions on Common Units shall be paid from Available Cash on a quarterly basis on each Quarterly Distribution Date following such declaration by the Board to the Members holding Common Units as they appear on the Schedule A at the close of business on the relevant record date for such distribution. Notwithstanding anything to the contrary, (i) any distributions on Class A Units pursuant to this Section 6.02(b) concurrently with or following a distribution of a Special Class B Distribution Amount shall be reduced (without duplication) by an amount in the aggregate equal to such Special Class B Distribution Amount, if any (it being understood and agreed, for the avoidance of doubt, after such aggregate reduction has occurred one time, such reduction shall no longer apply in respect of such Special Class B Distribution Amount) and (ii) any distributions on Class B Units pursuant to this Section 6.02(b) concurrently with or following a distribution of a Special Class A Distribution Amount shall be reduced (without duplication) by an amount in the aggregate equal to such Special Class A Distribution Amount, if any (it being understood and agreed, for the avoidance of doubt, after such aggregate reduction has occurred one time, such reduction shall no longer apply in respect of such Special Class A Distribution Amount).
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Distributions on Common Units. (a) For each full quarter ending on or prior to the Commercial Operation Date, distributions on Common Units shall be paid from Net LNG Sales Proceeds on the Quarterly Distribution Date following such declaration by the Managing Member to the Members holding Common Units as they appear on the Schedule A at the close of business on the relevant record date for such distribution. (b) Except as set forth in Section 6.02(a), prior to the eighth anniversary of the Closing Date, distributions on Common Units shall be paid from Available Cash on a quarterly basis on each Quarterly Distribution Date following such declaration by the Managing Member to the Members holding Common Units as they appear on the Schedule A at the close of business on the relevant Quarterly Distribution Date only for so long as at the time of any such distribution (i) the Company has redeemed for cash any Accrued Distributions that have previously cumulated and accrued and (ii) the requisite amount of distribution in cash on the Preferred Units is made on such Quarterly Distribution Date such that no Accrued Distribution is made or outstanding on such Quarterly Distribution Date. (c) Following the eighth anniversary of the Closing Date but prior to the Redeemed in Full Date, except for Permitted Tax Distributions, (i) no distributions on Common Units shall be declared or paid and (ii) the Company shall use all Available Cash to effect Redemptions as soon as reasonably practicable and in any event on each Quarterly Distribution Date. (d) Following the Redeemed in Full Date, distributions on Common Units shall be paid from Available Cash on a quarterly basis on each Quarterly Distribution Date following such declaration by the Managing Member to the Members holding Common Units as they appear on the Schedule A at the close of business on the relevant record date for such distribution.
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Distributions on Common Units. Commencing on April 30, 2021, so long as (i) the Partnership has made all required Quarterly Distributions (in cash or PIK Units), made all required Tax Distributions with respect to the Senior Preferred Units and PIK Units and paid all Senior Preferred Additional Amounts then due and owing; (ii) the Partnership has previously or contemporaneously with the distribution redeemed all PIK Units (if any) outstanding in accordance with the terms of this Amendment; (iii) the Partnership is not in, and will not be in, breach of any of the provisions set forth in Section 10 both immediately before and after giving effect to such distribution (including compliance with the Liquidity Covenant); (iv) the Partnership Leverage is below 7.00 (or 7.25 through May 15, 2022) both immediately before and after giving effect to distributions under this Section 6; and (v) the Partnership has delivered an officer’s certificate signed by the chief financial officer of the Partnership that such conditions have been satisfied, then the Partnership shall be permitted on each such date the foregoing conditions are satisfied to make distributions of Available Cash with respect to its Common Units. For the avoidance of doubt, the Partnership shall not be permitted to make distributions with respect to its Common Units prior to April 30, 2021.
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Distributions on Common Units. Notwithstanding the foregoing, if on a Distribution Payment Date (i) the amount of the distribution that would be paid with respect to a Series A-2 Preferred Unit if such Series A-2 Preferred Unit had been converted into Common Units as provided herein is greater than (ii) the amount of the distribution that otherwise would be paid with respect to such Series A-2 Preferred Unit, the Preferential Distribution payable with respect to such Series A-2 Preferred Unit shall be the distribution described in (i) above. The determination to be made in (i) in the preceding sentence shall be based upon the distribution payment date for the Common Units that occurs simultaneously with, or immediately precedes, the applicable Distribution Payment Date.
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Distributions on Common Units. The Company may, in its sole discretion, make distributions to the Member(s) holding Common Units with respect to such Units from time to time. Distributions to the Member(s) holding Common Units shall be made in the amounts and at the times determined by the Company, irrespective of whether the Company has made distributions to the Member(s) holding Preferred Units for the relevant period.
Sample 1
Distributions on Common Units. (a) For each full quarter ending on or prior to the Commercial Operation Date, distributions on Common Units shall be paid from Net LNG Sales Proceeds on the Quarterly Distribution Date following such declaration by the Managing Member to the Members holding Common Units as they appear on the Schedule A at the close of business on the relevant record date for such distribution.
Sample 1

Related to Distributions on Common Units

  • Class B Units Class B Unitholders shall not be entitled to vote in any matters relating to the Company, unless otherwise reserved to the Members by the Act. In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount. The Class B Preferred Return Amount shall not be required to be paid annually but shall accrue and become payable at the earlier of (x) the fifth (5th) anniversary of the Effective Time, or (y) a liquidation of, or a taxable sale of substantially all of the assets of, the Company. Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount. On the seventh (7th) anniversary of the Effective Time, each Class B Unitholder may, at its option and in accordance with the notice and other procedural provisions set forth in Section 11.01(a) (the “7 Year Put Option”), sell all (but not less than all) of its Class B Units to the Company for an amount equal to such Class B Unitholder’s Class B Preferred Return Base Amount plus any outstanding and accrued Class B Preferred Return Amount of such Class B Unitholder (the “Class B Option Consideration”) and, upon the exercise of the 7 Year Put Option by any Class B Unitholder, the Company shall purchase all of such holder’s Class B Units for the Class B Option Consideration. Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.

  • Dividends, Distributions and Redemptions To enable each Fund to pay dividends or other distributions to shareholders of each such Fund and to make payment to shareholders who have requested repurchase or redemption of their shares of each such Fund (collectively, the "Shares"), the Custodian shall release cash or Securities insofar as available. In the case of cash, the Custodian shall, upon the receipt of Instructions, transfer such funds by check or wire transfer to any account at any bank or trust company designated by each such Fund in such Instructions. In the case of Securities, the Custodian shall, upon the receipt of Special Instructions, make such transfer to any entity or account designated by each such Fund in such Special Instructions.

  • Restrictions on Distributions No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E and (B) as described in the Registration Statement and the Prospectus and as prohibited by applicable law.

  • Distributions in Shares Whenever the Depositary receives any distribution on Deposited Securities consisting of a dividend in, or free distribution of, Shares, the Depositary may deliver to the Owners entitled thereto, in proportion to the number of American Depositary Shares representing those Deposited Securities held by them respectively, an aggregate number of American Depositary Shares representing the amount of Shares received as that dividend or free distribution, subject to the terms and conditions of this Deposit Agreement with respect to the deposit of Shares and issuance of American Depositary Shares, including withholding of any tax or governmental charge as provided in Section 4.11 and payment of the fees and expenses of the Depositary as provided in Section 5.9 (and the Depositary may sell, by public or private sale, an amount of the Shares received (or American Depositary Shares representing those Shares) sufficient to pay its fees and expenses in respect of that distribution). In lieu of delivering fractional American Depositary Shares, the Depositary may sell the amount of Shares represented by the aggregate of those fractions (or American Depositary Shares representing those Shares) and distribute the net proceeds, all in the manner and subject to the conditions described in Section 4.1. If and to the extent that additional American Depositary Shares are not delivered and Shares or American Depositary Shares are not sold, each American Depositary Share shall thenceforth also represent the additional Shares distributed on the Deposited Securities represented thereby. If the Company declares a distribution in which holders of Deposited Securities have a right to elect whether to receive cash, Shares or other securities or a combination of those things, or a right to elect to have a distribution sold on their behalf, the Depositary may, after consultation with the Company, make that right of election available for exercise by Owners in any manner the Depositary considers to be lawful and practical. As a condition of making a distribution election right available to Owners, the Depositary may require satisfactory assurances from the Company that doing so does not require registration of any securities under the Securities Act of 1933.

  • Restrictions on Subsidiary Distributions Except as provided herein, no Credit Party shall, nor shall it permit any of its Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of Borrower to (a) pay dividends or make any other distributions on any of such Subsidiary’s Equity Interests owned by Borrower or any other Subsidiary of Borrower, (b) repay or prepay any Indebtedness owed by such Subsidiary to Borrower or any other Subsidiary of Borrower, (c) make loans or advances to Borrower or any other Subsidiary of Borrower, or (d) transfer, lease or license any of its property or assets to Borrower or any other Subsidiary of Borrower other than restrictions (i) imposed by law or by any Credit Document, (ii) in agreements evidencing Indebtedness permitted by Section 6.1(k) that impose restrictions on the property so acquired, and any amendments, modifications, extensions or renewals thereof (including any such extension or renewal arising as a result of an extension, renewal or refinancing of any Indebtedness containing such restriction or condition) that do not materially expand the scope of any such restriction or condition taken as a whole, (iii) by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, licenses, Joint Venture agreements and similar agreements entered into in the ordinary course of business, (iv) that are or were created by virtue of any transfer of, agreement to transfer or option or right with respect to any property, assets or Equity Interests not otherwise prohibited under this Agreement, (v) in the case of any Subsidiary that is not directly or indirectly wholly owned by Borrower, restrictions and conditions imposed by its Organizational Documents or any related joint venture, shareholders’ or similar agreement; provided that such restrictions and conditions apply only to such Subsidiary and to any Equity Interests in such Subsidiary, or (vi) identified on Schedule 6.5, and any amendments, modifications, extensions or renewals thereof (including any such extension or renewal arising as a result of an extension, renewal or refinancing of any Indebtedness containing such restriction or condition) that do not materially expand the scope of any such restriction or condition taken as a whole.

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