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.
Interim Distributions. From time to time, the Company shall determine in its reasonable judgment to what extent, if any, the Company's cash on hand exceeds the current and anticipated needs, including, without limitation, needs for operating expenses, debt service, acquisitions, reserves, and mandatory distributions, if any. To the extent such excess exists, the Company may make Distributions to the Members in accordance with their Sharing Ratios. Such Distributions shall be in cash or property (which need not be distributed proportionately) or partly in both, as determined by the Company.
Interim Distributions. 19 ARTICLE III
Interim Distributions. At such times as may be determined in its sole discretion, the Trustee shall distribute, or cause to be distributed to the Beneficiaries, in proportion to the number of Units held by each Beneficiary on the record date for such distribution as determined by the Trustee in its sole discretion, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed; provided, however, that the Trustee shall distribute, or cause to be distributed, at least annually to the Beneficiaries all cash proceeds from the sale of the Trust Assets in excess of a reasonable amount (as determined by the Trustee) to satisfy the Liabilities and expenses described in Section 5.5.
Interim Distributions. Notwithstanding anything to the contrary herein, in the event the Company declares or pays a distribution with respect to any of the Units held by the Executive Group on or after the Termination Date but prior to the exercise by the Company of the call option provided by Section 5.4 or prior to the closing of the repurchase transactions contemplated by a Call Notice, the entire portion of such distribution shall be held in escrow by the Company (such amounts, the “Escrow Funds”) until later of (i) the expiry of the time period by which the call option provided by Section 5.4 must be exercised and (ii) if one or more Call Notices have been delivered, until all the transactions contemplated by all Call Notices have been consummated. In the event, the Company decides to exercise the call option provided by Section 5.4, the entire amount of such Escrow Funds shall be permanently transferred to the Company and deemed forfeited by the Executive Group. In the event the Company does not exercise the call option provided by Section 5.4, the entire amount of such Escrow Funds shall be permanently transferred to the relevant members of the Executive Group.
Interim Distributions. (a) On January 5, 2021, before 9:00 a.m. EST, the Managing Member shall cause the Company to make a distribution to the Preferred Equity Member in an amount equal to the sum of (i) 100% of the balance of the Preferred Equity Account as of the close of business on December 31, 2020 (other than to the extent any such balance is invested in the Non-Marketable Security Account), plus (ii) 100% of the balance of the Non-Marketable Security Account as of the close of business on December 31, 2020, minus (iii) the aggregate principal amount of all MLSA Loans outstanding or committed to be funded by the Company as of the close of business on December 31, 2020. On or before December 29, 2020, the Preferred Equity Member shall provide written instructions to the Managing Member specifying the account or accounts where such distribution shall be transferred. The Managing Member shall provide the Preferred Equity Member with the following:
(i) On December 29, 2020, estimates of (A) the aggregate principal amount of all MLSA Loans outstanding or committed to be funded by the Company as of the close of business on December 31, 2020, and (B) the total amount to be distributed as described above;
(ii) On January 4, 2021, before 10:00 a.m. EST, (A) the aggregate principal amount of all MLSA Loans outstanding or committed to be funded by the Company as of the close of business on December 31, 2020, and (B) the actual total amount to be distributed as described above.
(b) Following any distribution to the Preferred Equity Member under Section 14(a) above, Schedule A shall be updated accordingly.
(c) Other than as specified in Sections 13, 14(a), or 19, no Member shall be entitled to distributions from the Assets in respect of their Member Interests, it being understood that payments of fees, reimbursement of expenses, repayment of principal and interest under the Credit Agreement and other payments to FRBNY contemplated by the Operative Documents will not be deemed distributions in respect of its Membership Interest.
Interim Distributions. (a) On January 8, 2021, the Managing Member caused the Company to make a distribution to the Preferred Equity Member in an amount equal to the sum of (i) 100% of the balance of the Preferred Equity Account as of the close of business on January 8, 2021 (as estimated on January 7, 2021) (other than to the extent any such balance is invested in the Non-Marketable Security Account), plus (ii) 100% of the balance of the Non-Marketable Security Account as of the close of business on January 8, 2021 (as estimated on January 7, 2021), minus (iii) the aggregate purchase price of all Participations held or for which the Company had issued a commitment letter and received a Funding Notice (as defined in the relevant commitment letter) as of 11:59 p.m. EST on January 6, 2021.
(b) Subject to clause (d) below, on each Excess Equity Distribution Date, the Managing Member shall cause the Company to make a distribution from the Preferred Equity Account in an amount equal to the sum of (i) 100% of the balance of the Preferred Equity Account as of the close of business on the immediately preceding Excess Equity Determination Date (other than to the extent any such balance is invested in the Non-Marketable Security Account), plus (ii) 100% of the balance of the Non-Marketable Security Account as of the close of business on such Excess Equity Determination Date, minus (iii) the aggregate balance of outstanding Loans (as defined in the Credit Agreement) as of the close of business on such Excess Equity Determination Date; and in its sole discretion the Managing Member may liquidate to cash any non-cash assets of the Preferred Equity Account for the purpose of making such distribution or may make such distribution entirely or partially from available cash in the Preferred Equity Account; and such distribution shall be transferred to the account or accounts specified in instructions provided or confirmed in writing by the Preferred Equity Member.
(c) Promptly after each Excess Equity Determination Date, but not less than two (2) Business Days before the Excess Equity Distribution Date unless otherwise agreed by the Managing Member and the Preferred Equity Member, the Managing Member shall notify the Preferred Equity Member in writing of the amount determined pursuant to Section 14(b) above and of the capital contribution of the Preferred Equity Member after giving effect to such distribution.
(d) Notwithstanding anything to the contrary herein, the Company shall not be required ...
Interim Distributions. The Company may make Distributions to the Member at such times as the Member shall determine.
Interim Distributions. Following the TI Liquidation, TII will distribute to Holdings and Holdings will distribute to ATI all of the outstanding Water Pik Common Stock.
Interim Distributions. Distributions upon the Shares of the Company may be declared by the Director/Managers at any regular or special meeting, in such allocations as may be determined by the Director/Managers. Distributions may be paid in cash, in property or in Shares of the Company.
