Distributions on Units Clause Samples
Distributions on Units. Any quarterly or special distribution paid with respect to Units credited to you shall also be credited to you and shall be converted into additional Units at such intervals as may be established by the Committee, but in any event no less frequently than annually. The price per Unit used for such conversion shall be based on:
(i) For Units purchased from one or more holders of outstanding Units, the cost paid by the Company for such Units as determined pursuant to the purchase and pricing methodologies generally used under the Partners Plan, reduced, at the discretion of the Committee, by the applicable commissions and purchase transaction fees; and
(ii) For Units newly issued and acquired directly from Holding, a price equal to the average regular session closing price of the Units reflected on the NYSE composite tape for the date such distributions are paid.
Distributions on Units. Subject to Section 5.1(b), the Board may declare and make Distributions in respect of Units in such amounts and at such times as it shall determine. Any such distribution shall be made pro rata in accordance with the Units owned.
Distributions on Units. The Board shall cause the Company to make Distributions in respect of each Unit as and to the extent provided in Section 10.2 relating thereto; provided that nothing in this Section 10.1 shall require the Board to make a Distribution on any Unit if and to the extent the Company is prohibited from making such Distribution (i) by the terms of any loan agreement or other indebtedness of the Company or (ii) as otherwise limited by Section 10.3.
Distributions on Units. All distributions paid or made with respect to the Collateral Units during the Security Term shall be paid by the General Partner directly to the Collateral Account. All distributions in connection with any reorganization or recapitalization of the Company (including any merger) paid or made with respect to the Collateral Units while the Security Agreement is in effect shall be deposited into such account.