Common use of Distributions or Withdrawals Clause in Contracts

Distributions or Withdrawals. The Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar year as follows: (1) Aggregate, annual Distributions not to exceed twenty-five percent (25%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s net worth is at least one percent (1%) of its Total Assets; (2) Aggregate annual Distributions not to exceed fifty percent (50%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least twenty percent (20%) of its Total Assets; (3) Aggregate annual Distributions not to exceed seventy-five percent (75%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least thirty percent (30%) of its Total Assets; or (4) There is no limit on aggregate, annual Distributions if, after making such aggregate, annual Distributions, the Awardee’s Net Worth is at least forty percent (40%) of its Total Assets.

Distributions or Withdrawals. The Awardee Before Project Completion, the Subrecipient shall not, without the prior written approval of RUSthe Department or granted a waiver request for publicly traded companies by the Department, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation allocated to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar fiscal year as follows: (1a) Aggregate, annual Distributions not to exceed twenty-five percent (25%) of the prior calendar fiscal year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeSubrecipient’s net worth is at least one percent (1%) of its Total Assets; (2b) Aggregate annual Distributions not to exceed fifty percent (50%) of the prior calendar fiscal year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeSubrecipient’s Net Worth is at least twenty percent (20%) of its Total Assets; (3c) Aggregate annual Distributions not to exceed seventy-five percent (75%) of the prior calendar fiscal year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeSubrecipient’s Net Worth is at least thirty percent (30%) of its Total Assets; or (4d) There is no limit on aggregate, annual Distributions if, after making such aggregate, annual Distributions, the AwardeeSubrecipient’s Net Worth is at least forty percent (40%) of its Total Assets.

Distributions or Withdrawals. (a) The Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar year as follows: (1) Aggregate, annual Distributions not to exceed twenty-five percent (25%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeBorrower’s net worth is at least one percent (1%) of its Total Assets; (2) Aggregate annual Distributions not to exceed fifty percent (50%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeBorrower’s Net Worth is at least twenty percent (20%) of its Total Assets; (3) Aggregate annual Distributions not to exceed seventy-five percent (75%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeBorrower’s Net Worth is at least thirty percent (30%) of its Total Assets; or (4) There is no limit on aggregate, annual Distributions if, after making such aggregate, annual Distributions, the AwardeeBorrower’s Net Worth is at least forty percent (40%) of its Total Assets.

Distributions or Withdrawals. (a) The Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar fiscal year as follows: (1) Aggregate, annual Distributions not to exceed twenty-five percent (25%) of the prior calendar year’s fiscal year Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s net worth is at least one percent (1%) of its Total Assets; (2) Aggregate annual Distributions not to exceed fifty percent (50%) of the prior calendar year’s fiscal year Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least twenty percent (20%) of its Total Assets; (3) Aggregate annual Distributions not to exceed seventy-five percent (75%) of the prior calendar year’s fiscal year Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least thirty percent (30%) of its Total Assets; or (4) There is no limit on aggregate, annual Distributions if, after making such aggregate, annual Distributions, the Awardee’s Net Worth is at least forty percent (40%) of its Total Assets.

Distributions or Withdrawals. (a) The Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar year as follows: (1) Aggregate, annual Distributions not to exceed twenty-five percent (25%) of the t he prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the AwardeeBorrower’s net worth is at least one percent (1%) of its Total Assets; (2) Aggregate annual Distributions not to exceed fifty percent (50%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least twenty percent (20%) of its Total Assets;aggregate (3) Aggregate annual Distributions not to exceed seventy-five percent (75%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least thirty percent (30%) of its Total Assets; orsuch (4) There is no limit on aggregate, annual Distributions if, after making such aggregate, annual Distributions, the AwardeeBorrower’s Net Worth is at least forty percent (40%) of its Total Assets.

Distributions or Withdrawals. The Before Project Completion, the Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar year as follows: (1a) Aggregate, annual Distributions not to exceed twenty-five percent (25%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s net worth is at least one percent (1%) of its Total Assets; (2b) Aggregate annual Distributions not to exceed fifty percent (50%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least twenty percent (20%) of its Total Assets; (3c) Aggregate annual Distributions not to exceed seventy-five percent (75%) of the prior calendar year’s Net Income or Margins may be made if, after such aggregate annual Distributions, the Awardee’s Net Worth is at least thirty percent (30%) of its Total Assets; or (4d) There is no limit on aggregate, annual Distributions if, after making such aggregate, annual Distributions, the Awardee’s Net Worth is at least forty percent (40%) of its Total Assets.