Limited Distributions of Income on Property. (a) Upon written instructions from the Company, the Trustee will deliver to the Company, on a quarterly basis, from the Property in the Trust Account, an amount equal to the taxes payable by the Company, if any, relating to interest earned on the Property; provided, however, that in no event shall the Company direct the Trustee to disburse amounts pursuant to this Section 2(a) that exceed the income in respect of which such taxes are due and owing.
Appears in 5 contracts
Samples: Management Trust Agreement, Investment Management Trust Agreement (2020 ChinaCap Acquirco, Inc.), Investment Management Trust Agreement (2020 ChinaCap Acquirco, Inc.)
Limited Distributions of Income on Property. (a) Upon written instructions request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee will deliver shall distribute to the Company, Company the amount of interest and other income earned on a quarterly basis, from the Property in requested by the Trust Account, an amount equal Company to the taxes payable cover any income or other tax obligation owed by the Company, if any, relating to interest earned on the Property; provided, however, that in no event shall the Company direct the Trustee to disburse amounts pursuant to this Section 2(a) that exceed the income in respect of which such taxes are due and owing.
Appears in 3 contracts
Samples: Investment Management Trust Agreement (MedWorth Acquisition Corp.), Investment Management Trust Agreement (MedWorth Acquisition Corp.), Investment Management Trust Agreement (MedWorth Acquisition Corp.)
