INTERIM LIQUIDATING DISTRIBUTIONS; FINAL LIQUIDATING DISTRIBUTIONS Sample Clauses

INTERIM LIQUIDATING DISTRIBUTIONS; FINAL LIQUIDATING DISTRIBUTIONS. (a) From time to time, the Liquidating Trustee may (i) conduct a review of all payments made from the Trust after the Effective Date and of all anticipated and pending Liabilities against the Trust, (ii) consider the extent to which the value of the Assets held by the Trust exceeds the amount of anticipated Final Liabilities to be made out of the Assets of the Trust prior to the Final Distribution Date; (iii) consider the expense likely to be associated with any Interim Liquidating Distribution to Beneficiaries; and (iv) consider any other information the Liquidating Trustee deems relevant. Based on such considerations, the Liquidating Trustee may, in its sole discretion, distribute, on one or more occasions subsequent to the Effective Date and prior to the Final Distribution Date, such amount from the Assets of the Trust as the Liquidating Trustee, in its sole discretion, deems reasonable and appropriate, ratably to Beneficiaries in accordance with their Beneficiary's Percentage Interests (an "INTERIM LIQUIDATING DISTRIBUTION"); provided that the Liquidating Trustee must be reasonably satisfied that the value of the Assets remaining in the Trust following each such distribution will be reasonably likely to be sufficient to satisfy all remaining Liabilities of the Trust that are pending or likely to arise prior to the Final Distribution Date. Subject to the foregoing proviso, the Liquidating Trustee shall make an Interim Liquidating Distribution no later than December 31st each year of any proceeds from Trust Receipts or income from Permitted Investments. Each Interim Liquidating Distribution, if any, shall be made by the Liquidating Trustee (with or without the assistance of a transfer agent) in the same manner provided in paragraph (c) of this Section 9.8 with respect to the Final Liquidating Distribution, if any. (b) As soon as practicable after (i) all Final Liabilities have been paid (including the payment of all Trustees' Expenses); and (ii) the Liquidating Trustee has (y) determined to the best of its knowledge that there are no claims with respect to future Liabilities that are likely to arise, or (z) made such provision or arrangement with respect to such future Liabilities, the Liquidating Trustee shall distribute all Assets remaining in the Trust (to the extent any Assets remain), ratably (except as set forth in Section 16.4 hereof) to the Beneficiaries in accordance with their Beneficiary's Percentage Interests (the "FINAL LIQUIDATING DISTRIBUT...
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Related to INTERIM LIQUIDATING DISTRIBUTIONS; FINAL LIQUIDATING DISTRIBUTIONS

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority: (i) First, to creditors of the Series, including the Members who are creditors, to the extent otherwise permitted by law, in satisfaction (whether by payment or the making of reasonable provision for payment thereof) of all debts, liabilities, obligations and expenses of the Series, including, without limitation, the expenses incurred in connection with the liquidation of the Series; and (ii) Second, to the Members pro rata in proportion to their holdings of Shares, with such Distributions to be made by the end of the Fiscal Year during which the liquidation occurs (or, if later, ninety (90) days after the date of the liquidation).

  • Character of Liquidating Distributions All payments made in liquidation of the interest of a Unit Holder in the Company shall be made in exchange for the interest of such Unit Holder in Property pursuant to Section 736(b)(1) of the Code, including the interest of such Unit Holder in Company goodwill.

  • Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.

  • 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.

  • Liquidating Dividends If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Registered Holder on the Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.

  • Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Cash Distributions Whenever the Depositary receives confirmation from the Custodian of the receipt of any cash dividend or other cash distribution on any Deposited Securities, or receives proceeds from the sale of any Deposited Securities or any other entitlements held in respect of Deposited Securities under the terms hereof, the Depositary will (i) if at the time of receipt thereof any amounts received in a Foreign Currency can in the judgment of the Depositary (pursuant to Section 4.8) be converted on a practicable basis into Dollars transferable to the United States, promptly convert or cause to be converted such cash dividend, distribution or proceeds into Dollars (on the terms described in Section 4.8), (ii) if applicable, establish the ADS Record Date upon the terms described in Section 4.9, and (iii) distribute promptly the amount thus received (net of (a) the applicable fees and charges of, and expenses incurred by, the Depositary and (b) taxes withheld) to the Holders entitled thereto as of the ADS Record Date in proportion to the number of ADSs held as of the ADS Record Date. The Depositary shall distribute only such amount, however, as can be distributed without attributing to any Holder a fraction of one cent, and any balance not so distributed shall be held by the Depositary (without liability for interest thereon) and shall be added to and become part of the next sum received by the Depositary for distribution to Holders of ADSs outstanding at the time of the next distribution. If the Company, the Custodian or the Depositary is required to withhold and does withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, duties or other governmental charges, the amount distributed to Holders on the ADSs representing such Deposited Securities shall be reduced accordingly. Such withheld amounts shall be forwarded by the Company, the Custodian or the Depositary to the relevant governmental authority. Evidence of payment thereof by the Company shall be forwarded by the Company to the Depositary upon request.

  • Distributions Upon Liquidation Notwithstanding Section 5.1, proceeds from a Liquidating Event shall be distributed to the Partners in accordance with Section 13.2.

  • Non-Cash Distributions If the Security Agent or any other Secured Party receives a distribution in a form other than in cash in respect of any of the Liabilities, the Liabilities will not be reduced by that distribution until and except to the extent that the realisation proceeds are actually applied towards the Liabilities.

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