Distributions to Non-Settling Participants and Disposition of Escrowed Funds Sample Clauses

Distributions to Non-Settling Participants and Disposition of Escrowed Funds. Amounts specified on the FERC Refund Allocation Matrix as payable to Market Participants who, by not making the election provided in Article 9, become Non-Settling Participants will be retained in the Reliant Refund Escrow until issuance of the FERC Refund Determination. If FERC determines that Reliant owes refunds pursuant to the FERC Refund Determination or interest pursuant to the FERC Interest Determination to any Non-Settling Participant, it shall be paid first from the amounts retained in relation to Non-Settling Participants in the Reliant Refund Escrow, until such funds are exhausted, with any balance to be paid pursuant to Section 6.8. To the extent that amounts set aside for Non-Settling Participants in the Reliant Refund Escrow are in excess of the amount necessary to pay such Non-Settling Participants pursuant to the FERC Refund Determination and the FERC Interest Determination, the remaining amount from the Non-Settling Participant set-aside will be transferred to the California Litigation Escrow.
Sample 1
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Distributions to Non-Settling Participants and Disposition of Escrowed Funds. Amounts specified on the FERC Refund Proceeding Allocation Matrix as payable to Market Participants who, by not making the election provided in Article 9, become Non-Settling Participants will be retained in the Enron Refund Escrow until issuance of the FERC Refund Determination. If FERC determines that Enron owes refunds pursuant to the FERC Refund Determination or interest pursuant to the FERC Interest Determination to any Non-Settling Participant, it shall be paid first from the amounts retained in relation to Non-Settling Participants in the Enron Refund Escrow, until such funds are exhausted, with any balance to be paid by Enron. To the extent that amounts set aside for Non- Settling Participants in the Enron Refund Escrow for the October 2, 2000 through June 20, 2001 period are in excess of the amount necessary to pay such Non- Settling Participants pursuant to the FERC Refund Determination and the FERC Interest Determination, the remaining amount from the Non-Settling Participant set-aside will be paid to Enron; provided, however, that no distribution of the remaining amount shall be made to Enron unless and until all of its obligations to Settling Claimants (including the assignment and payment of the full Cash Amount) have been satisfied.
Sample 1
Distributions to Non-Settling Participants and Disposition of Escrowed Funds. Amounts specified on the Allocation Matrix as allocated to Participants that, by not making the election provided in Section 8.1, become Non-Settling Participants will be retained in the Settling Supplier Refund Escrow (PNM) until such time as they are paid in accordance with Section 5.6.
Sample 1

Related to Distributions to Non-Settling Participants and Disposition of Escrowed Funds

  • Deemed Contribution and Distribution Notwithstanding any other provision of this Article 13, in the event that the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), but no Liquidating Event has occurred, the Partnership’s Property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged and the Partnership’s affairs shall not be wound up. Instead, for federal income tax purposes the Partnership shall be deemed to have contributed all of its assets and liabilities to a new partnership in exchange for an interest in the new partnership; and immediately thereafter, distributed Partnership Units to the Partners in the new partnership in accordance with their respective Capital Accounts in liquidation of the Partnership, and the new partnership is deemed to continue the business of the Partnership. Nothing in this Section 13.3 shall be deemed to have constituted a Transfer to an Assignee as a Substituted Limited Partner without compliance with the provisions of Section 11.4 or Section 13.3 hereof.

  • Allocations and Distributions The LLC's profits and losses shall be allocated to the Member. At the time determined by a majority of the Managers, the Managers may cause the LLC to distribute to the Member any cash held by it which is neither reasonably necessary for the operation of the LLC nor the performance of its contractual obligations, nor which is in violation of Sections 18-607 or 18-804 of the Act or any contractual agreement binding on the LLC.

  • Profits Losses and Distributions A. Each Member shall share all profits and losses, pro rata, in proportion to the Member's Interest in the Company. A Member's Interest shall be defined as a Member's pro rata share of ownership in the Company.

  • Payments and Distributions (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Creation of Escrow Funds On or prior to the date of the commencement of the Offering, the parties shall establish an escrow account with the Escrow Agent, which escrow account shall be entitled as follows: Wentworth Energy, Inc./Cornell Capital Partners, LP Escrow Account for the deposit of the Escrow Funds. The Investor(s) will instruct subscribers to wire funds to the account of the Escrow Agent as follows: Bank: Wachovia, N.A. of New Jersey Routing #: 000000000 Account #: 2000014931134 Name on Account: Xxxxx Xxxxxxxx Attorney Trust Account Name on Sub-Account: Wentworth Energy, Inc./Cornell Capital Partners, LP Escrow Account

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

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