Distributions to Owner Sample Clauses

Distributions to Owner. The Foundation shall make distributions to the Owner as follows (SELECT ONE – A, B, or C):
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Distributions to Owner. Contemporaneously with furnishing the monthly statement for each calendar month pursuant to Section 5.3 hereof, PRG shall remit to Owner out of the Operating Accounts the amount (“Owner’s Remittance Amount”) as set forth in the Annual Plan or, in the absence of the Owner’s Remittance Amount being set forth in the Annual Plan, such amount as PRG shall deem advisable with consideration being given to the amount then reasonably required to be maintained in the Operating Accounts (after withdrawal of the Management Fee and other amounts due to PRG hereunder and the amounts required to be deposited to the Reserve Fund) in order to carry on the uninterrupted operation of the Hotel in accordance with the Operating Standard and in order to enable PRG to perform its obligations hereunder. Each remittance shall be paid to Owner at Owner’s address then in effect for receipt of notices hereunder, or at such other place as Owner may, from time to time, designate in a notice to PRG.
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Distributions to Owner. Any amount in the Restaurant’s account held by the Manager in excess of (a) the amount of Working Capital required pursuant to Section 6.1 above, (b) the amount of the Management and License Fee payable to Manager and (c) the operating expenses of the Restaurant (including allocations for insurance, marketing and management training), less the amount of any offsets or deductions provided for hereunder, shall be distributed to the Owner within 30 days after the end of each fiscal month. The monthly distributions to the Owner shall constitute prepayments subject to reconciliation based on the Annual Statement for the fiscal year in which such monthly distributions are made, with the payment for the final fiscal month being adjusted as may be necessary.
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Distributions to Owner. Subject to the working funds requirements of Section 5.03, Manager shall distribute excess funds from the Hotel Accounts to Owner upon Owner's request but no more frequently than monthly.
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Distributions to Owner. Owner shall be permitted to withdraw from the Facility operating account any amounts owed to it in accordance with the foregoing priority of distributions. XI. Manager's Designated Representative. In any situation in which, pursuant to the terms of this Agreement, Manager shall be required or permitted to take any action with respect to Owner, give any report or make any request to or of Owner, Manager shall act by and through "Manager's Representative" (as defined below) and Owner shall be permitted to rely on any such approval or action so taken by the Manager's Representative as an approval or action taken by the Manager hereunder. The "Manager's Representative" shall mean and refer to Judy Ullery or such other individual as shxxx xx xxxxgnated by Manager and approved by Owner as provided below. In the event Manager at any time wishes to replace the then current Manager's Representative whichhas been approved by Owner, Manager shall notify Owner in writing of the proposed replacement and provide such information as Owner shall reasonably request regarding the qualifications and experience of said replacement. In the event Owner disapproves of Manager's designated replacement and Owner and Manager are unable to agree on an alternative replacement, Owner shall have the right to terminate this Agreement by written notice to Manager.
Sample 1
Distributions to Owner. Along with the monthly financial information delivered, Manager shall remit to Owner out of the Operating Account an amount (the “Distribution Amount”) by which the total amount of free and clear funds in the Operating Account as of the end of the preceding calendar month exceeds the sum of (i) the Working Capital Amount, (ii) the current accrued and unpaid Operating Expenses, Fixed Charges and Owner’s Expense (iii) any current accrued and unpaid contributions to the Reserve Fund and the Emergency Fund, and (iv) such additional amounts of working capital as are determined necessary by Manager and approved by Owner, which approval may be granted or withheld in Owner’s discretion exercised in a commercially reasonable manner (such sum being referred to herein as the “Mandatory Balance”). Manager shall not be obligated to disburse the Distribution Amount until such date as the Operating Account contains in the aggregate more than the Mandatory Balance and each succeeding disbursement to Owner of the Distribution Amount shall not occur until such date as the sums contained in the Operating Account again exceed the Mandatory Balance. Each distribution shall be paid (by check, wire transfer or such other method designated by Owner) to Owner at Owner’s address then in effect hereunder for receipt of notices hereunder by Owner or at such other place as Owner may designate in writing to Manager. In the event that Manager distributes more or less than is required in any month, Manager shall correct such over or under payment by adjusting the Distribution Amount for the following month or months, as necessary, and shall notify Owner in writing of any such adjustment. Notwithstanding the foregoing, in the event that any Lender requires a cash management system that is inconsistent with the prevailing cash management agreement, the cash management system required by such Lender shall control, and Manager shall comply in all respects with the cash management system required by such Lender. Any deficits in or negative cash flow at any time or times in any Contract Year shall be borne exclusively by Owner.
Sample 1
Distributions to Owner. Each week and at the end of each month during the Term, Select shall remit to Owner out of the Operating Accounts by wire transfer the amount (“Owner’s Remittance Amount”) by which the total funds then in the Operating Accounts exceed Thirty Thousand Dollars ($30,000). Each remittance shall be paid to Owner by wire transfer pursuant to written instructions delivered to Select, or to such other account or accounts as Owner may, from time to time, designate in a notice to Select. Notwithstanding the foregoing, if Select reasonably anticipates that circumstances will require the cash balance in the Operating Accounts to exceed $30,000 in order to carry on the uninterrupted operation of the Hotel in accordance with System Standards and enable Select to perform its obligations hereunder, upon Select’s request, Owner shall, at its option (i) permit Select to withhold additional funds or (ii) wire sufficient funds into the Operating Accounts to meet such circumstances and Owner will reasonably cooperate with such request.
Sample 1
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Distributions to Owner. Along with the monthly financial information delivered pursuant to Section 7.2, Manager shall remit to Owner out of the Operating Account an amount (the “Distribution Amount”) equal to the Net Operating Income earned in the preceding calendar month; provided however, in no event will Manager be required to make a distribution to Owner to the extent distribution would reduce the balance of the Operating Account below the Working Capital Amount. Each distribution shall be paid (by check, wire transfer or such other method designated by Owner) to Owner at Owner’s address then in effect hereunder for receipt of notices hereunder by Owner or at such other place as Owner may designate in writing to Manager. In the event that Manager distributes more or less than is required under this Section 6.3 in any month, Manager shall correct such over or under payment by adjusting the Distribution Amount for the following month or months, as necessary, and shall notify Owner in writing of any such adjustment. Notwithstanding the foregoing, in the event that any Lender requires a cash management system that is inconsistent with the terms of this Section 6.3 but consistent with the terms of Section 12.2, the cash management system required by such Lender shall control, and Manager shall comply in all respects with the cash management system required by such Lender.
Sample 1

Related to Distributions to Owner

  • Distributions to Members Section 9.1

  • CONTRIBUTIONS TO COMPANY WEBSITE Xxxxxxx.xxx may provide an area for our user and members to contribute feedback to our website. When you submit ideas, documents, suggestions and/or proposals ("Contributions") to our site, you acknowledge and agree that:

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

  • Distributions, Etc Upon the dissolution, winding up, liquidation or reorganization of the Tenant, whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Tenant, if any sum shall be paid or any property shall be distributed upon or with respect to any of the Pledged Collateral, such sum shall be paid over to the Secured Parties, to be held as collateral security for the Secured Obligations. If any dividend shall be declared on any of the Pledged Collateral (excluding cash dividends), or any share of beneficial interest or fraction thereof shall be issued pursuant to any split of beneficial interests involving any of the Pledged Collateral, or any distribution of capital shall be made on any of the Pledged Collateral, or any property shall be distributed upon or with respect to the Pledged Collateral pursuant to recapitalization or reclassification of the capital of the Tenant, the shares or other property so distributed shall be delivered to the Secured Parties to be held as collateral security for the Secured Obligations.

  • Other Distributions In case the Company shall fix a record date for the making of a distribution to all holders of shares of its Common Stock of securities, evidences of indebtedness, assets, cash, rights or warrants (excluding Ordinary Cash Dividends, dividends of its Common Stock and other dividends or distributions referred to in Section 13(A)), in each such case, the Exercise Price in effect prior to such record date shall be reduced immediately thereafter to the price determined by multiplying the Exercise Price in effect immediately prior to the reduction by the quotient of (x) the Market Price of the Common Stock on the last trading day preceding the first date on which the Common Stock trades regular way on the principal national securities exchange on which the Common Stock is listed or admitted to trading without the right to receive such distribution, minus the amount of cash and/or the Fair Market Value of the securities, evidences of indebtedness, assets, rights or warrants to be so distributed in respect of one share of Common Stock (such amount and/or Fair Market Value, the “Per Share Fair Market Value”) divided by (y) such Market Price on such date specified in clause (x); such adjustment shall be made successively whenever such a record date is fixed. In such event, the number of Shares issuable upon the exercise of this Warrant shall be increased to the number obtained by dividing (x) the product of (1) the number of Shares issuable upon the exercise of this Warrant before such adjustment, and (2) the Exercise Price in effect immediately prior to the distribution giving rise to this adjustment by (y) the new Exercise Price determined in accordance with the immediately preceding sentence. In the case of adjustment for a cash dividend that is, or is coincident with, a regular quarterly cash dividend, the Per Share Fair Market Value would be reduced by the per share amount of the portion of the cash dividend that would constitute an Ordinary Cash Dividend. In the event that such distribution is not so made, the Exercise Price and the number of Shares issuable upon exercise of this Warrant then in effect shall be readjusted, effective as of the date when the Board of Directors determines not to distribute such shares, evidences of indebtedness, assets, rights, cash or warrants, as the case may be, to the Exercise Price that would then be in effect and the number of Shares that would then be issuable upon exercise of this Warrant if such record date had not been fixed.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Distributions to Shareholders (a) The Trustees shall from time to time distribute ratably among the Shareholders of any class of Shares, or any series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, such proportion of the net profits, surplus (including paid-in surplus), capital, or assets held by the Trustees as they may deem proper or as may otherwise be determined in accordance with this Declaration. Any such distribution may be made in cash or property (including without limitation any type of obligations of the Trust or any assets thereof) or Shares of any class or series or any combination thereof, and the Trustees may distribute ratably among the Shareholders of any class of shares or series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, additional Shares of any class or series in such manner, at such times, and on such terms as the Trustees may deem proper or as may otherwise be determined in accordance with this Declaration. (b) Distributions pursuant to this Section 9.2 may be among the Shareholders of record of the applicable class or series of Shares at the time of declaring a distribution or among the Shareholders of record at such later date as the Trustees shall determine and specify. (c) The Trustees may always retain from the net profits such amount as they may deem necessary to pay the debts or expenses of the Trust or to meet obligations of the Trust, or as they otherwise may deem desirable to use in the conduct of its affairs or to retain for future requirements or extensions of the business. (d) Inasmuch as the computation of net income and gains for Federal income tax purposes may vary from the computation thereof on the books, the above provisions shall be interpreted to give the Trustees the power in their discretion to distribute for any fiscal year as ordinary dividends and as capital gains distributions, respectively, additional amounts sufficient to enable the Trust to avoid or reduce liability for taxes.

  • Requirement and Characterization of Distributions; Distributions to Record Holders (a) Within 45 days following the end of each Quarter commencing with the Quarter ending on September 30, 2005, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 17-607 of the Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the General Partner. All amounts of Available Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Section 17-607 of the Delaware Act. (b) Notwithstanding Section 6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

  • Distributions to the Borrower The Agent may (with the Borrower’s consent or in accordance with Clause 28 (Set-off)) apply any amount received by it for the Borrower in or towards payment (on the date and in the currency and funds of receipt) of any amount due from the Borrower under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.

  • Distributions to Record Holders (a) Subject to the applicable provisions of the Delaware Act and except as otherwise provided herein, the Manager may, in its sole discretion, at any time and from time to time, declare, make and pay distributions of cash or other assets of the Company to the Members. Subject to the terms of any Share Designation (including, without limitation, the preferential rights, if any, of holders of any other class of Shares of the Company) and of Article XIII, distributions shall be paid to the holders of Common Shares on an equal per-Share basis as of the Record Date selected by the Manager. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to any Member on account of its interest in the Company if such distribution would violate the Delaware Act or other applicable law. (b) Notwithstanding Section 4.1(a), in the event of the termination and liquidation of the Company, all distributions shall be made in accordance with, and subject to the terms and conditions of, ‎Section 8.3(a). (c) Each distribution in respect of any Shares of the Company shall be paid by the Company, directly or through its Transfer Agent, if any, or through any other Person or agent, only to the Record Holder of such Shares as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Company’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

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