Distributions to Pay Taxes. Prior to March 15 of the next following Fiscal Year, the General Partner shall distribute to the Limited Partners an amount sufficient for the Limited Partners out of cash available therefor to pay their tax liabilities which arise in respect of their shares of cumulative net taxable income and gain of the Partnership for such Fiscal Year, determined as set forth below by the General Partner, prior to the making of any distributions pursuant to Sections 8.1 and 8.6 hereof. Any funds distributed pursuant to this Section 8.2 shall reduce the amount that a Limited Partner would otherwise receive pursuant to Sections 8.1 and 8.6. For purposes of this Section 8.2, the amount of tax distributions made to a Limited Partner for any Fiscal Year shall be equal to the excess, if any, of (i) the product of (A) the excess, if any, of (I) its cumulative share of net taxable income or gain for the current Fiscal Year and all prior Fiscal Years over (II) its cumulative share of net taxable loss and deduction for all prior Fiscal Years and (B) the sum of the highest rate of Canadian or United States federal, state, provincial and local tax imposed on any Limited Partner calculated, with respect to a Limited Partner that is a pass-through entity (for Canadian or United States tax purposes), based on the type of taxpayer which the beneficial owners of interests in such pass-through entity are for such year with respect to items of the same character as such net income and gain, taking into account the deductibility or creditability of federal, state, provincial and local taxes for Canadian or United States federal income tax purposes and based on such reasonable assumptions as the General Partner determines in good faith to be appropriate (such assumptions not to include the effect of any net operating losses or any other similar tax benefits available to a Limited Partner), over (ii) the amount of any distributions made to such Limited Partner pursuant to this Section 8.2 in a prior Fiscal Year.
Distributions to Pay Taxes. With respect to any tax year in which the Company shall report taxable income, the Company shall distribute to the Common Members, based upon their respective Common Percentage Interests at the time of such distribution, an aggregate amount equal to the Company's taxable income, plus or minus other items of income, gain, loss or deduction passing through to the Common Members, times the sum of the effective applicable Federal income tax rate and the higher of North Carolina or Missouri state income tax rates and assuming that each Common Member is an individual paying Federal and state income tax at the highest marginal income tax rates with respect to the applicable type of income (a "Tax Distribution"). All Tax Distributions shall be made at a time sufficient to enable the Common Members to pay any required estimated tax payments.
Distributions to Pay Taxes. To enable the Members to pay taxes on income of the Company that is taxable to the Members, the Company must make cash distributions to the Members. During each fiscal year the Company must distribute an amount equal to the product of (a) the highest aggregate rate of federal, state, and local income and self-employment tax imposed on the Company’s income for that fiscal year (taking into account the deductibility of state and local income taxes for federal income tax purposes) allocated to any Member who was a Member for the full fiscal year times (b) the amount of the taxable income of the Company allocated to all Members for that fiscal year. Distributions must be paid at least quarterly during each fiscal year at times that coincide with the Members’ payment of estimated taxes, and the amount of each distribution will be based upon the anticipated taxable income of the Company for the fiscal year of the distribution and the anticipated tax rates of Members, as determined at the time the distribution is made. The Company's obligation to make distributions under this section is subject to the restrictions governing distributions under the Act.
Distributions to Pay Taxes. Notwithstanding Section 5.2 above, the Company shall, to the extent allowed by the Act, make annual proportional cash distributions to each Member within ninety (90) days following the conclusion of each Fiscal Year of the Company equal to forty-four percent (44%) of each Member's share of the taxable income of the Company. To the maximum extent possible, periodic distributions shall be made so as to provide each Member with an amount equal to its estimated tax payment obligations and such periodic distributions will be reconciled as of the end of the Fiscal Year. Such distributions are intended to be sufficient for purposes of paying any and all types of federal, state and local income tax incurred by the Members of their affiliates with respect to taxable income of the Company.
Distributions to Pay Taxes. The Company may, but shall not be obligated to, distribute Proportionately to the Unitholders within thirty (30) calendar days after the end of each quarter of each Fiscal Year an amount of cash equal to the product of (a) the sum of the highest federal income tax rate and the highest state income tax rate applicable to any Unitholder for such Fiscal Year, multiplied by (b) the taxable income of the Company for such quarter of such Fiscal Year for federal income tax purposes. The sum of the highest federal income tax rate and the highest state income tax rate shall be initially presumed to be fifty percent (50%).
Distributions to Pay Taxes. The Board may, with a unanimous vote, annually authorize the distribution of cash to the Members based on their Percentage Interests in an amount of the Estimated Member Tax Liability to the extent such a distribution is legally permitted. Such Distribution, if made, shall be made on or before April 1 of each year for the Estimated Member Tax Liability due with respect to the immediately preceding year.
Distributions to Pay Taxes. (a) The Company shall use its best efforts to distribute sufficient Net Cash from Operations to the Members each year to provide each Member with sufficient cash to fund the payment of federal and state income tax liabilities attributable to such Member's interest in the Company. The Board shall take this goal into account in formulating any cash flow plan for the Company. For this purpose, the Board shall make a theoretical calculation of the Members tax liabilities based on reasonable assumptions and projections of the Members' taxable income and the character thereof, including the then prevailing maximum regular or alternative minimum Federal, state and local tax rates, income based on the net cumulative amount of taxable income attributable to the Company (i.e., income shall be netted against loss on a cumulative basis to the extent that such offsets are allowable under then prevailing law and regulations), and utilization of all items of loss and credit.
Distributions to Pay Taxes. (a) Notwithstanding anything to the contrary in SECTION 6.1, if the Partnership has taxable income for any Fiscal Year (including any taxable gain associated with the sale of section 704(c) property (as defined in Regulation Section 1.704-3)), the Partnership shall, out of any funds legally available therefor, distribute to the Partners, on or before the 90th day following the end of the calendar year that includes the last day of such Fiscal Year, the amount necessary for the Partners (and all Persons who are required to pay taxes on the taxable income of the Partnership by reason of their direct or indirect ownership of any interest in the Partnership) to pay federal, state and local income taxes with respect to such taxable income, computed by multiplying such taxable income by the highest combined federal, state and local income tax rate applicable to any such Person for the calendar year that includes the last day of the Fiscal Year in which such taxable income is allocated to such Partner.
Distributions to Pay Taxes. The General Partner, in its sole discretion, may cause the Fund to make Tax Distributions to the General Partner (in respect of its Carried Interest). The General Partner shall not make any such Tax Distribution to the General Partner with respect to any fiscal year unless each Limited Partner has received, or concurrently receives, aggregate distributions pursuant to Section 9.4 during or after such fiscal year equal to the anticipated taxes with respect to the amounts allocated to such Limited Partner for such fiscal year. All calculations of anticipated taxes pursuant to this Section 9.7 shall assume the tax rates used in the definition of “Tax Distributions.”
Distributions to Pay Taxes. Except to the extent such actions would violate (1) any applicable laws, rules, regulations, or pronouncements, and/or administrative or judicial orders applicable to the Partnership; or (2) the provisions of any documents, agreement, contract or instrument to which the Partnership is a party, the Partnership shall pay cash distributions to NexCore Partners, on or before the 15th day after the close of each calendar quarter, in an amount equal to the highest federal and state income tax rates multiplied by NexCore Partners’ share of the Profit for federal and state income tax purposes for the immediately preceding calendar quarter. In addition, the Partnership shall pay cash distributions after the close of each fiscal year in an amount equal to the highest federal and state income tax rates multiplied by NexCore Partner’s share of the Profits for the immediately preceding fiscal year. In determining the amount of such distributions, there shall be taken into account all prior distributions made to pay estimated taxes during the preceding taxable year.
