Mandatory Distributions for Taxes Sample Clauses

Mandatory Distributions for Taxes. To the extent of available cash and cash equivalents, the Partnership shall make distributions in respect of each Fiscal Year to the Partners pro rata in accordance with the allocation of Net Profits and Net Losses as set out in Section 7.02(a) to the extent necessary to most the Partners' aggregate Federal, state and local income tax liabilities with respect to such Fiscal Year (including estimated payments), calculated as if the highest marginal statutory Federal and New York State and local corporate rates were applicable to each Partner for all periods, in respect of Net Profits for such Fiscal Year. Any distributions required pursuant to this Section 6.02(d) shall be made within a reasonable time prior to the due date of any such tax payment. (e)
Sample 1
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Mandatory Distributions for Taxes. Subject to Section 6.02(d) (Limitations on Distributions), the Company shall make distributions in respect of each Fiscal Year to the Members pro rata in accordance with the allocation of Net Profits and Net Losses as set out in Section 7.02(a) (Allocation of Net Profits and Net Losses) to the extent necessary to meet the Members' aggregate U.S. Federal, state and local income tax liabilities with respect to such Fiscal Year (including estimated payments), calculated as if the highest marginal statutory U.S. Federal and the Commonwealth of Virginia and local corporate tax rates were applicable to each Member for all periods, in respect of taxable income for such Fiscal Year; PROVIDED, HOWEVER, distributions pursuant to this Section shall not be made in respect of any Fiscal Year prior to the first Fiscal Year for which the Company has a cumulative profit for tax purposes, as set forth in the Company's filings with the United States Internal Revenue Service. Any distributions required pursuant to this Section shall be made at least 30 days prior to the due date of any such tax payment. The Company shall make a reasonable estimate of any such amounts required to be paid pursuant to this paragraph. A final adjustment shall be made between the Company and its Members within 30 days following the filing of the Company's annual tax returns.
Sample 1

Related to Mandatory Distributions for Taxes

  • Regular Distributions Subject to the rights of the holders of Preferred Units ranking senior to or on parity with the Series H Preferred Units, the holders of Series H Preferred Units shall be entitled to receive on each Distribution Payment Date, out of assets of the Partnership legally available for the payment of the distributions, monthly cumulative cash distributions at the following rates per annum on the $1,000 liquidation preference per Series H Preferred Unit:

  • 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.

  • Quarterly Distributions On the Distribution Payment Date that follows each Distribution Date, the Trustee shall distribute to each Person who was a Registered Owner of the Up-MACRO Holding Shares as of the Record Date that preceded such Distribution Payment Date the Quarterly Distribution provided for under priority sixth of clause (a) above in cash, for delivery thereof by the Depository to each Person who was a Beneficial Owner of Up-MACRO Holding Shares on such Record Date.

  • Interest Distributions On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available:

  • 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.

  • Cash Flow Distributions The Cash Flow of the Company, if any, shall be distributed to the Member subject to any limitations on the Company’s ability to make distributions imposed by the Company’s lenders or by applicable law.

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • 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.

  • 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:

  • Final Distributions Section 8.01. Sale of Receivables or Certificateholders' Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01 or 7.02 of this Supplement.

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