Distributions to Partners. (a) The Partnership may make distributions of cash and/or property, if any, at such times as the SBIC Act permits (if the Partnership is then licensed as an SBIC or has an application to be licensed pending with the SBA) and as are determined under this Agreement. If the Partnership is then licensed as an SBIC or has an application to be licensed pending with the SBA, distributions shall be made from Retained Earnings Available for Distribution or otherwise as permitted by the SBIC Act. The General Partner may elect to invest or reinvest all or any part of such cash and/or property in lieu of distribution to the Partners. (b) All distributions shall be made to the Partners in proportion to their Partnership Percentages.
Appears in 3 contracts
Sources: Agreement of Limited Partnership (Triangle Capital CORP), Agreement of Limited Partnership (Triangle Mezzanine Fund LLLP), Limited Partnership Agreement (Triangle Capital CORP)
Distributions to Partners. (a) The Partnership may make distributions of cash and/or property, if any, at such times as the SBIC Act permits (if the Partnership is then licensed as an SBIC or has an application to be licensed pending with the SBA) and as are determined under this Agreement. If the Partnership is then licensed as an SBIC or has an application to be licensed pending with the SBA, distributions shall be made from Retained Earnings Available for Distribution or otherwise as permitted by the SBIC Act. The General Partner may elect to invest or reinvest all or any part of such cash and/or property in lieu of distribution to the Partners.
(b) All distributions shall be made to the Partners in proportion to their Partnership Percentages.
Appears in 1 contract
Sources: Limited Partnership Agreement