Distributions Prior to Liquidation. Any cash or other assets of the Company which are available for distribution shall be distributed to the Member at such times and in such amounts as the Member may determine.
Distributions Prior to Liquidation. Cash Available for ------------------------------------- Distribution, if any, shall be distributed at times and in amounts which the General Partner may, in its reasonable discretion, determine. Amounts not distributed in liquidation of the Partnership shall be distributed as follows:
(i) First, 99 percent to the Limited Partners in proportion to and to the extent of their Unreturned Capital Balances and one percent to the General Partner until all Unreturned Capital Balances have been reduced to zero;
(ii) Then, 84 percent to Limited Partner A, 15 percent to Limited Partner B and 1 percent to the General Partner. Notwithstanding the foregoing, the General Partner may in its sole and absolute discretion and at any time make a distribution to the Limited Partners in proportion to their respective Unreturned Capital Account balances.
Distributions Prior to Liquidation. Notwithstanding Section 6.3(b) of the Partnership Agreement and except as otherwise provided in Paragraph 8, prior to the liquidation of the Partnership in accordance with Section 12.4 of the Partnership Agreement, in the sole discretion of the General Partner, cash or other property of the Partnership shall be distributed to the Partners in the following order and priority; provided, however, that distributions pursuant to clause i below shall be made in cash only:
i. First, 100% to the Series A Preferred Unitholders (ratably among the Series A Preferred Unitholders based on the aggregate Unpaid Series A Preferred Yield of each such Series A Preferred Unitholder’s Series A Preferred Units accrued through the last day of the immediately preceding calendar quarter), until the aggregate Unpaid Series A Preferred Yield of each such Series A Preferred Unit accrued through the last day of the immediately preceding calendar quarter has been reduced to zero; and then
ii. Second, in respect of each calendar year, 100% to the Common Unitholders and the Subordinated Unitholders, apportioned in accordance with Sections 6.3, 6.4 and 6.5 of the Partnership Agreement, as applicable, until there has been distributed pursuant to this Paragraph 13(c)(ii) an aggregate amount in respect of such calendar year equal to 10% of the aggregate Interest Fair Market Value of the outstanding Common Units and Subordinated Units as of the first day of such calendar year; and then
iii. Finally, 100% to the Common Unitholders and the Subordinated Unit holders, on the one hand, and the Series A Preferred Unitholders, on the other hand, Pro Rata. Amounts distributed to the Common and Subordinated Unitholders pursuant to Paragraph 13(c)(i) shall be apportioned in accordance with Sections 6.3, 6.4 and 6.5 of the Partnership Agreement, as applicable. Distributions under this Paragraph 13(c) shall be made to the Unitholders each calendar quarter no later than thirty (30) days following the last day of each calendar quarter. The General Partner shall be entitled to establish record dates for the payment of distributions and adopt any other procedures deemed by the General Partner to be necessary or appropriate in order to effect the provisions of this Paragraph 13(c). Subject to the contractual obligations of the Partnership and the Partnership Act and other Applicable Laws, the Partnership shall distribute to the Unitholders an aggregate amount of cash with respect to each calendar year (for p...
Distributions Prior to Liquidation. A. Subject to Sections 5.3 and 5.4, and except to the extent deemed necessary by the General Partner to reserve for Committed Investments pursuant to 6.2.M, Operating Receipts for each fiscal year (or fractional portion thereof) shall be distributed to the Partners in proportion to their respective Percentages of Contributed Capital. Such distributions shall be made by the General Partner within ninety (90) days after the close of each fiscal year and at such other time or times as the General Partner shall determine.
B. Subject to Sections 5.3 and 5.4, and except to the extent deemed necessary by the General Partner to reserve for Committed Investments pursuant to 6.2.M, the General Partner shall, each calendar quarter on or before the fifteenth (15/th/) day after the end of such quarter, make distributions of all Investment Receipts and shall distribute such Investment Receipts as follows:
(1) First, to the Partners in proportion to their Percentages of Contributed ------ Capital, until such Partners have received from all distributions then or theretofore made pursuant to this Section 5.2.B(1), on a cumulative basis, an amount of distributions equal to the sum of (i) their Capital Contributions Allocable to Liquidated Portfolio Securities and (ii) all Management Fees that have been paid out of the Capital Contributions of the Limited Partners to the Management Company as of any date on which a distribution pursuant to this Section 5.2 will be made;
(2) Second, twenty percent (20%) to the Partners in proportion to their ------- Percentages of Contributed Capital and eighty percent (80%) to the General Partner until the General Partner has received pursuant to this Section 5.2.B(2) an amount of distributions equal to twenty percent (20%) of the amounts distributed to the Partners in proportion to their Percentages of Contributed Capital pursuant to (A) clause (i) of Section 5.2.B(1), but only to the extent of the amount of Capital Contributions Allocable to Portfolio Securities attributable to expenses set forth in Sections 6.5.A(1) and (4) that have been allocated to a particular Portfolio Security and (B) clause (ii) of Section 5.2.B(1); and
(3) Third, thereafter, eighty percent (80%) to the Partners in proportion to ------ their Percentages of Contributed Capital and twenty percent (20%) to the General Partner. For purposes of this Agreement, all amounts distributed to the General Partner pursuant to Sections 5.2.B(2) and 5.2.B(3) (other than in propor...
Distributions Prior to Liquidation. 3.5.1 Subject to Sections 3.6 and 3.7, Available Cash for each Fiscal Year (or fractional portion thereof) shall be distributed to the Members at such time or times determined by the Managing Member (but not less frequently than annually) in proportion to their respective Capital Account balances.
3.5.2 The Managing Member shall endeavor (if practical and reasonable to do so in light of the circumstances of the Company) to distribute, if available, sufficient amounts of Available Cash to the Members in accordance with this Section 3.5 to enable all Members to make timely payment of any Federal, state, local and foreign income tax liabilities incurred by them as a result of their participation in the Company.
Distributions Prior to Liquidation. 37 Article 16.
Distributions Prior to Liquidation. Except as otherwise provided in this Agreement and subject to the limitations provided herein, and subject to all Mandatory Tax Distributions having been made, Distributions may be made to the Members at such times and in such amounts as the Board may determine. Distributions shall be made to the Members as follows:
(a) first, to the holders of the Class A Units until they have received from the Company and Community Connect an amount equal to the Combined Capital Contributions (excluding Mandatory Tax Distributions);
(b) second, to the Members on a per Unit basis in proportion to each Member’s Percentage Interest.
Distributions Prior to Liquidation. Prior to the dissolution of the Company and the commencement of the liquidation of its assets and winding up of its affairs, the Member, promptly following the end of its fiscal year and at such other times as it may deem appropriate, will determine and distribute the Company’s “net available cash flow” to the Member. For purposes of this Agreement, “net available cash flow” means the excess of gross cash receipts (exclusive of initial and additional capital contributions and, except to the extent the Member determines otherwise, proceeds received from any borrowings by the Company) over cash disbursements, without deduction for depreciation, cost recovery deductions, and other non-cash charges, for (a) ail operating costs, (b) all principal and interest payments on debts (including payments of Member loans), (c) all asset acquisition costs and capital costs necessary for the maintenance, repair, and improvement of the Company’s assets, and (d) reasonable reserves, as determined by the Member,
Distributions Prior to Liquidation. 3.6.1 Subject to Sections 3.7, 3.8 and Article Five, Available Cash for each fiscal year (or fractional portion thereof) shall be distributed to the Members at such time or times determined by the Managing Members (but not less often than annually) in proportion to their respective allocations of Net Operating Profits and Net Realized Capital Gains as determined pursuant to ARTICLE III; provided, however, that Available Cash may first be applied to the payment of expenses incurred by the Company in the sale or other disposition of Portfolio Securities or any other expenses with respect to which the Company does not receive sufficient cash to pay such expenses. In the event the Company is unable, for any reason, to pay any portion of such expenses, the amount not paid shall be carried forward, as a priority item, without interest, to be paid out of Available Cash or on liquidation. Final distributions of Available Cash for each Fiscal Year, determined in accordance with the provisions of this Section 3.6, shall be made as soon as practicable following such Fiscal Year.
3.6.2 In addition to any other obligations hereunder including that set forth in Schedule 5.2(h), the Managing Members shall endeavor (if practical and reasonable to do so in light of the circumstances of the Company) to distribute, if available, sufficient amounts of Available Cash to the Members in accordance with this Section 3.6 to enable such Members to make timely payment of any Federal, state, local and foreign income tax liabilities incurred by them as a result of their participation in the Company.
Distributions Prior to Liquidation. Except as provided in Section 5.1(b), all cash of the Partnership available for distribution shall be distributed at such times and in such amounts as the Management Committee shall determine. All distributions of cash pursuant to this Section 5.1(a) shall be allocated between the Partners in proportion to their Percentage Interests.
