Common use of Distributions on Excess Interests Clause in Contracts

Distributions on Excess Interests. Any distributions (whether as dividends, distributions upon liquidation, dissolution or winding up or otherwise) on Excess Interests shall be paid to the Excess Interest Trust for the benefit of the Charitable Beneficiary. Upon liquidation, dissolution or winding up, the Purported Record Transferee shall receive the lesser of (a) the amount of any distribution made upon liquidation, dissolution or winding up or (b) the price paid by the Purported Record Transferee for the Interests, or if the Purported Record Transferee did not give value for the Interests, the Market Price of the Interests on the day of the event causing the Interests to be held in trust. Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the Venture that the Interests with respect to which the dividend or distribution was made had been exchanged for Excess Interests shall be repaid by the Purported Record Transferee to the Excess Interest Trust for the benefit of the Charitable Beneficiary.

Distributions on Excess Interests. Any distributions (whether as dividendsperiodic distributions, distributions upon liquidation, dissolution or winding winding-up or otherwise) on Excess Interests shall be paid to the Excess Interest Interests Trust for the benefit of the Charitable Beneficiary. Upon liquidation, dissolution or winding winding-up, the Purported Record Transferee shall receive the lesser of (ai) the amount of any distribution made upon liquidation, dissolution or winding winding-up or (bii) the price paid by the Purported Record Transferee for the Membership Interests, or if the Purported Record Transferee did not give value for the Membership Interests, the Market Excess Interests Price of the Partnership Interests on the day of the event causing the Partnership Interests to be held in trust. Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the Venture Partnership that the Partnership Interests with respect to which the dividend or distribution was made had been exchanged for Excess Interests shall be repaid by the Purported Record Transferee to the Excess Interest Interests Trust for the benefit of the Charitable Beneficiary.

Distributions on Excess Interests. Any distributions (whether as dividends, distributions upon liquidation, dissolution or winding up or otherwise) on Excess Interests shall be paid to the Excess Interest Trust for the benefit of the Charitable Beneficiary. Upon liquidation, dissolution or winding upup of the Venture, the Purported Record Transferee shall receive the lesser of (a) the amount of any distribution made upon liquidation, dissolution or winding up or (b) the price paid by the Purported Record Transferee for the Interests, or if the Purported Record Transferee did not give value for the Interests, the Market Price of the Interests on the day of the event causing the Interests to be held in trust. Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the Venture that the Interests with respect to which the dividend or distribution was made had been exchanged for Excess Interests shall be repaid by the Purported Record Transferee to the Excess Interest Trust for the benefit of the Charitable Beneficiary.

Distributions on Excess Interests. Any distributions (whether as dividendsperiodic distributions, distributions upon liquidation, dissolution or winding winding-up or otherwise) on Excess Interests shall be paid to the Excess Interest Interests Trust for the benefit of the Charitable Beneficiary. Upon liquidation, dissolution or winding winding-up, the Purported Record Transferee shall receive the lesser of (a) the amount of any distribution made upon liquidation, dissolution or winding winding-up or (b) the price paid by the Purported Record Transferee for the Interests, or if the Purported Record Transferee did not give value for the Interests, the Market Excess Interest Price of the Interests on the day of the event causing the Interests to be held in trust. Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the Venture Partnership that the Interests with respect to which the dividend or distribution was made had been exchanged for Excess Interests shall be repaid by the Purported Record Transferee to the Excess Interest Interests Trust for the benefit of the Charitable Beneficiary.