Distributions; Priority Sample Clauses

The "Distributions; Priority" clause defines the order and manner in which payments or distributions are made among parties, typically in the context of investments, partnerships, or liquidation events. It specifies which parties receive distributions first and how remaining amounts are allocated, often distinguishing between preferred and common stakeholders or outlining a waterfall structure. This clause ensures that the agreed-upon hierarchy of payments is followed, thereby providing clarity and predictability regarding financial entitlements and reducing the risk of disputes over distribution proceeds.
Distributions; Priority. Distributable Assets will be distributed at such times as are determined by the Board of Managers, subject to Section 4.4, in the order and priority set forth below: (a) First, $240,779,400 to the Preferred Unitholders pro rata in accordance with each such Unitholder’s aggregate Unreturned Preferred Capital. (b) Second, until such time as the Class M Unitholders have received aggregate distributions pursuant to this Section 4.1(b) in the amount of $17,258,360: (i) 91.28% to the Preferred Unitholders, pro rata in accordance with each such Unitholder’s aggregate Unreturned Preferred Capital, (ii) 1.72% to the Class G Unitholders, pro rata in accordance with the respective number of Class G Units held by each such Unitholder immediately prior to such distribution, and (iii) 7% to the Class M Unitholders, pro rata in accordance with the respective number of Class M Units held by each such Unitholder immediately prior to such distribution. (c) Third, until such time as each Preferred Unitholder’s Unreturned Preferred Capital has been reduced to zero, (i) 89.28% to the Preferred Unitholders, pro rata in accordance with each such Unitholder’s aggregate Unreturned Preferred Capital, (ii) 1.72% to the Class G Unitholders, pro rata in accordance with the respective number of Class G Units held by each such Unitholder immediately prior to such distribution, and (iii) 9% to the Class O Unitholders, pro rata in accordance with the respective number of Class O Units held by each such Unitholder immediately prior to such distribution. (d) Fourth, if any Class N Units remain outstanding at the time of such distribution, $3,500,000 to the Class N Unitholders, pro rata in accordance with the respective number of Class N Units held by each such Unitholder immediately prior to such distribution. (e) Fifth, until such time as the Class O Unitholders have received aggregate distributions pursuant to this Section 4.1(e) and Section 4.1(c) in the amount of $13,500,000, (i) 89.28% to the Class A Unitholders, pro rata in accordance with each such Unitholder’s Unreturned Class A Capital, (ii) 1.72% to the Class G Unitholders, pro rata in accordance with the respective number of Class G Units held by each such Unitholder immediately prior to such distribution, and (iii) 9% to the Class O Unitholders, pro rata in accordance with the respective number of Class O Units held by each such Unitholder immediately prior to such distribution. (f) Sixth, until such time as each Class A Unithol...
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Distributions; Priority. Except as otherwise provided in this ARTICLE 5 or Section 9.3, distributions shall be shared among the Members as follows: (i) First, to pay any outstanding Temporary Advances and any interest accrued thereon; and (ii) Second, to the Members as distributions in respect of their interests in the Fund in proportion to their respective Membership Interest Percentages.
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Distributions; Priority. (a) To the extent of Distributable Cash, non-liquidating Distributions shall be made to the Members pursuant to the terms hereof and at such time and in such manner as is determined by the Board in its sole discretion. All Distributions shall be made to the Persons shown on the records of the Company to have been a Member of the Company as of the record date selected by the Board, which record date must be no earlier than the date the Board determines that a Distribution is to be made. Distributions will be made in such form as the Board determines (such as cash or other Property). (b) Distributable Cash, when distributed, shall be distributed to, and among, the Members, pari passu and pro rata, according to their respective Economic Interest. (c) Except as expressly provided above, no Member shall have a priority right over any other Member as to Distributions. (d) Notwithstanding the forgoing or anything contained herein to the contrary, the parties hereby acknowledge and agree that, if (and only to the extent that) a Member shall have any outstanding Member Obligations as of the date of any Distribution made pursuant to this Section, the Company shall be permitted, and is otherwise and directed, to retain such Distribution(s) in payment of Member Obligations until paid in full.
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Distributions; Priority. Distributable Assets will be distributed at such times as are determined by the Board of Managers, subject to Section 4.4, in the order and priority set forth below: (a) first, 100% of the Distributable Assets shall be distributed to the Preferred Unitholders pro rata in accordance with each such Unitholder’s Unreturned Preferred Capital, until each such Unitholder’s Unreturned Preferred Capital has been reduced to zero; (b) second, after the required distributions pursuant to subparagraph (a) above, 100% of the Distributable Assets shall be distributed to the Class A Unitholders, pro rata in accordance with each such Unitholder’s Unretumed Class A Capital, until each such Unitholder’s Unretumed Class A Capital has been reduced to zero; (c) third, (A) after the required distributions pursuant to subparagraphs (a) and (b) above, 100% of the Distributable Assets shall be distributed to the Preferred Unitholders, (i) pro rata in accordance with the aggregate amount of such Unitholders’ Current Preferred Return, until each such Unitholder’s Current Preferred Return has been reduced to zero; and (ii) thereafter, pro rata in accordance with each such Unitholder’s remaining Unpaid Preferred Return, until each such Unitholder’s Unpaid Preferred Return has been reduced to zero; (B) after the required distributions pursuant to subparagraph (A) of this Section 4.1(c), 100% of the Distributable Assets shall be distributed to the Class B Unitholders, pro rata in accordance with each such Unitholder’s Unretumed Class B Capital, until each such Unitholder’s Unretumed Class B Capital has been reduced to zero; and (C) after the required distributions pursuant to subparagraphs (A) and (B) of this Section 4.1(c), 100% of the Distributable Assets shall be distributed to the Class C Unitholders, pro rata in accordance with each such Unitholder’s Unretumed Class C Capital, until each such Unitholder’s Unretumed Class C Capital has been reduced to zero; and (d) fourth, after the required distributions pursuant to subparagraphs (a), (b) and (c) above, all remaining Distributable Assets shall be distributed as follows: (i) eighty-seven percent (87%) to the Class A Unitholders, ratably among such Unitholders based on the aggregate number of Class A Units held by each such Unitholder immediately prior to such distribution; (ii) a percentage, equal to the product of (x) five percent (5.00%) multiplied by (y) the Class B Fraction, to the Class B Unitholders, pro rata in accordance wit...
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Related to Distributions; Priority

  • Priority of Distributions On each Distribution Date, the Indenture Trustee shall first make the payments in sub-clause (z) below and then shall make the following deposits and distributions in the amounts and in the order of priority set forth below: (a) to the Servicer, the Primary Servicing Fee due on that Distribution Date; (b) to the Administrator, the Administration Fee due on that Distribution Date and all prior unpaid Administration Fees; (c) to the Class A Noteholders, the Class A Noteholders’ Interest Distribution Amount, pro rata based on amounts payable as Class A Noteholders’ Interest Distribution Amount; (d) to the Class B Noteholders, the Class B Noteholders’ Interest Distribution Amount; (e) to the Reserve Account, the amount, if any, necessary to reinstate the balance of the Reserve Account to the Specified Reserve Account Balance; (f) to the Class A Noteholders, until the principal balance of such class is paid in full, the Class A Noteholders’ Principal Distribution Amount; (g) to the Class B Noteholders, until the principal balance of such class is paid in full, the Class B Noteholders’ Principal Distribution Amount; (h) to the Indenture Trustee, the Eligible Lender Trustee and the Delaware Trustee, pro rata, based on amounts due, any unpaid fees and expenses due under Section 6.7 of the Indenture or Sections 8.1 and 8.3 of the Trust Agreement, as applicable, including, without limitation, any indemnity amounts, to the extent such amounts have not been paid by the Administrator or paid pursuant to sub-clause (z) below; (i) to the Servicer, the aggregate unpaid amount of the Carryover Servicing Fee, if any; (j) in the event the Trust Student Loans are not sold pursuant to Section 6.1(a) below or Section 4.4 of the Indenture, on each subsequent Distribution Date, an accelerated payment of principal shall be paid, first, to the Class A Noteholders until the Outstanding Amount of the Class A Notes is paid in full and reduced to zero, and second, to the Class B Noteholders until the Outstanding Amount of the Class B Notes is paid in full and reduced to zero, as set forth in Section 2.8 above; provided that the amount of such distribution shall not exceed the Outstanding Amount of the Class A Notes or the Class B Notes, as applicable, after giving effect to all other payments in respect of principal of the Class A Notes and the Class B Notes to be made on such Distribution Date; and (k) to the Excess Distribution Certificateholder (initially, Navient CFC), any remaining amounts after application of the preceding clauses. Notwithstanding the foregoing:

  • Priority as to Distributions (i) Except as provided in Section 16.2.C.(ii) below, no distributions shall be declared or paid or set apart for payment and no other distribution of cash or other property may be declared or made on or with respect to any Parity Preferred Unit or Junior Unit as to distributions (other than a distribution paid in Junior Units as to distributions and upon liquidation) for any period, nor shall any Junior Units or Parity Preferred Units as to distributions or upon liquidation be redeemed, purchased or otherwise acquired for any consideration (and no funds shall be paid or made available for a sinking fund for the redemption of such units) and no other distribution of cash or other property may be made, directly or indirectly, on or with respect thereto by the Partnership (except by conversion into or exchange for Junior Units as to distributions and upon liquidation, and except for the redemption of Partnership Interests corresponding to any REIT Series A Preferred Shares or any other REIT shares of any other class or series of capital stock ranking, as to dividends or upon liquidation, on parity with or junior to the Series A Preferred Stock to be purchased by the General Partner pursuant to the Charter to the extent necessary to preserve the General Partner’s status as a real estate investment trust, provided that such redemption shall be upon the same terms as the corresponding stock purchase pursuant to the Charter), unless full cumulative distributions on the Series A Preferred Units for all past periods and the then current period shall have been or contemporaneously are (i) declared and paid in cash or (ii) declared and a sum sufficient for the payment thereof in cash is set apart for such payment. (ii) When distributions are not paid in full (and a sum sufficient for such full payment is not so set apart) upon the Series A Preferred Units and any other Parity Preferred Units as to distributions, all distributions declared upon the Series A Preferred Units and such other classes or series of Parity Preferred Units as to the payment of distributions shall be declared pro rata so that the amount of distributions declared per Series A Preferred Unit and each such other class or series of Parity Preferred Units shall in all cases bear to each other the same ratio that accrued distributions per Series A Preferred Unit and such other class or series of Parity Preferred Units (which shall not include any accrual in respect of unpaid distribution on such other class or series of Parity Preferred Units for prior distribution periods if such other class or series of Parity Preferred Unit does not have a cumulative distribution) bear to each other. No interest, or sum of money in lieu of interest, shall be payable in respect of any distribution payment or payments on the Series A Preferred Units which may be in arrears.

  • Priorities of Distributions (a) On each Distribution Date, based solely on the information contained in the Servicer's Certificate, the Trustee shall withdraw from the Certificate Account (to the extent funds are available therein) (1) the amount payable to the Trustee pursuant to Section 3.11(b)(ii) and shall pay such funds to itself, and (2) the Pool Distribution Amount for each Loan Group, in an amount as specified in written notice received by the Trustee from the Servicer no later than the Business Day following the related Determination Date, and shall apply such funds (or be deemed to apply such funds, as applicable), first to the payment to itself of the amount payable with respect to such Loan Group pursuant to Section 3.11(b)(i) and then to distributions in respect of the Uncertificated Lower-Tier Interests as specified in this Section 5.02(a) and the Class 1-A-R Certificate in respect of the Class R-L Interest. Distributions shall be made on the Certificates in the fo▇▇▇wing order of priority and to the extent of such funds, paying priorities (i) and (ii) to each Group from the applicable Pool Distribution Amount and priorities (iii) and (iv) from the remaining combined Pool Distribution Amounts, in the following order of priority and to the extent of such funds: (i) to each Class of Class A Certificates of such Group, an amount allocable to interest equal to the Interest Distribution Amount for such Class and any shortfall being allocated among such Classes in proportion to the amount of the Interest Distribution Amount that would have been distributed in the absence of such shortfall; (ii) to the Class A Certificates of a Group, in an aggregate amount up to the Senior Principal Distribution Amount for such Group, such distribution to be allocated among such Classes in accordance with Section 5.02(b) and; (iii) to each Class of Subordinate Certificates, subject to paragraph (d) below, in the following order of priority: (A) to the Class B-1 Certificates, an amount allocable to interest equal to the Interest Distribution Amount for such Class for such Distribution Date; (B) to the Class B-1 Certificates, an amount allocable to principal equal to its Pro Rata Share for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero; (C) to the Class B-2 Certificates, an amount allocable to interest equal to the Interest Distribution Amount for such Class for such Distribution Date; (D) to the Class B-2 Certificates, an amount allocable to principal equal to its Pro Rata Share for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero; (E) to the Class B-3 Certificates, an amount allocable to interest equal to the Interest Distribution Amount for such Class for such Distribution Date; (F) to the Class B-3 Certificates, an amount allocable to principal equal to its Pro Rata Share for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero; (G) to the Class B-4 Certificates, an amount allocable to interest equal to the Interest Distribution Amount for such Class for such Distribution Date; (H) to the Class B-4 Certificates, an amount allocable to principal equal to its Pro Rata Share for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero; (I) to the Class B-5 Certificates, an amount allocable to interest equal to the Interest Distribution Amount for such Class for such Distribution Date; (J) to the Class B-5 Certificates, an amount allocable to principal equal to its Pro Rata Share for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero; (K) to the Class B-6 Certificates, an amount allocable to interest equal to the Interest Distribution Amount for such Class for such Distribution Date; and (L) to the Class B-6 Certificates, an amount allocable to principal equal to its Pro Rata Share for such Distribution Date until the Class Certificate Balance thereof has been reduced to zero; and (iv) to the Holder of the Class 1-A-R Certificate, any amounts remaining in the Upper-Tier Certificate Sub-Account and any remaining Pool Distribution Amounts. No Class of Certificates will be entitled to any distributions with respect to the amount payable pursuant to clause (ii) of the definition of "Interest Distribution Amount" after its Class Certificate Balance has been reduced to zero. All distributions in respect of the Interest Distribution Amount for a Class will be applied first with respect to the amount payable pursuant to clause (i) of the definition of "Interest Distribution Amount," and second with respect to the amount payable pursuant to clause (ii) of such definition. On each Distribution Date, the Trustee shall distribute any Reimbursement Amount sequentially to the Classes of Certificates then outstanding which bore the loss to which such Reimbursement Amount relates beginning with the most senior of such Classes of Certificates, up to, with respect to each Class, the amount of loss borne by such Class. Any Reimbursement Amount remaining after the application described in the preceding sentence shall be included in the applicable Pool Distribution Amount. (b) from Loan Group 2 Principal Distribution Amounts to Uncertificated Lower-Tier Interests beginning with the numeral "2," (c) from Loan Group 3 Principal Distribution Amounts to Uncertificated Lower-Tier Interests beginning with the numeral "3" and (d) from Loan Group 4 Principal Distribution Amounts to Uncertificated Lower-Tier Interests beginning with the numeral "4."

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Priorities of Distribution (a) On each Distribution Date, the Securities Administrator shall allocate from amounts then on deposit in the Distribution Account in the following order of priority and to the extent of the Available Funds remaining and, on such Distribution Date, shall make distributions on the Certificates in accordance with such allocation: (i) to the Supplemental Interest Trust and to the holders of each Class of LIBOR Certificates in the following order of priority: (A) to the Supplemental Interest Trust, the sum of (x) all Net Swap Payments and (y) any Swap Termination Payment owed to the Swap Provider other than a Defaulted Swap Termination Payment; (B) concurrently, (1) from the Interest Remittance Amount related to the Group I Mortgage Loans, to the Class A-1 Certificates, the related Accrued Certificate Interest Distribution Amounts and Unpaid Interest Amounts for the Class A-1 Certificates; (2) from the Interest Remittance Amount related to the Group II Mortgage Loans, pro rata (based on the Accrued Certificate Interest Distribution Amounts and Unpaid Interest Amounts distributable to the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates) to the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, the related Accrued Certificate Interest Distribution Amounts and Unpaid Interest Amounts for the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates; (3) provided, that if the Interest Remittance Amount for either Loan Group is insufficient to make the related payments set forth clause (1) or (2) above, any Interest Remittance Amount relating to the other Loan Group remaining after payment of the related Accrued Certificate Interest Distribution Amounts and Unpaid Interest Amounts will be available to cover that shortfall; (C) from any remaining Interest Remittance Amounts, to the Class M-1 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (D) from any remaining Interest Remittance Amounts, to the Class M-2 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (E) from any remaining Interest Remittance Amounts, to the Class M-3 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (F) from any remaining Interest Remittance Amounts, to the Class M-4 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (G) from any remaining Interest Remittance Amounts, to the Class M-5 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (H) from any remaining Interest Remittance Amounts, to the Class M-6 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (I) from any remaining Interest Remittance Amounts, to the Class M-7 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (J) from any remaining Interest Remittance Amounts, to the Class M-8 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (K) from any remaining Interest Remittance Amounts, to the Class M-9 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; (L) from any remaining Interest Remittance Amounts, to the Class B-1 Certificates, the Accrued Certificate Interest Distribution Amount for such Class; and (M) from any remaining Interest Remittance Amounts, to the Class B-2 Certificates, the Accrued Certificate Interest Distribution Amount for such Class. (ii) (A) on each Distribution Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, to the holders of the Class or Classes of LIBOR Certificates then entitled to distributions of principal as set forth below, an amount equal to the Principal Distribution Amount in the following order of priority: (a) sequentially: