Net Cash From Operations. The net cash from operations of the Partnership shall be distributed at such times as may be determined by the Partners in accordance with Section 8 of this Agreement among the Partners in proportion to their respective percentages of Partnership Interest, provided, however, that no amount of net cash from operations shall be distributed during any fiscal year of the Partnership until after the Partnership has paid any required installment of the aggregate purchase price pursuant to a right or option of the Partnership to acquire all of the Partnership Interest of a Partner, if any such right or option has been exercised by the Partnership, as provided in Sections 13, 15, or 16 hereof.
Net Cash From Operations. From time to time, and at the sole discretion of the Manager, but subject to the Financial Rights of any Class B Member, Class C Member, Class C-1 Member or other class of Member admitted as a member of the Company in accordance with the limitations set forth in Section 6.4, below, Net Cash From Operations shall be applied and/or distributed by the Company in the following order of priority:
(a) first, to the payment of all third party debts and liabilities of the Company then due and payable, excluding all debts and liabilities due to any Interest Holder; then
(b) second, to any Interest Holder making a loan to the Company, pro-rata and pari passu, in an amount necessary to repay all outstanding amounts due under any loan made by Interest Holders to the Company; then
(c) third, to the Class C Members and Class C-1 Members, in proportion to the aggregate amount of accrued but unpaid Preferred Return for Class C Membership Units and Preferred Return for Class C-1 Membership Units then due and payable to such Class C Members and Class C-1 Members; provided, however, that Class C Members and Class C-1 Members shall have no further right to receive a Preferred Return once such Class C Member’s or Class C-1 Member’s Adjusted Capital Balance has been reduced to zero; then
(d) fourth, to the Class B Members, in proportion to the aggregate amount of accrued but unpaid Preferred Return for Class B Membership Units then due and payable to such Class B Members; provided, however, a Class B Member shall have no further right to receive a Preferred Return once such Class B Member’s Adjusted Capital Balance has been reduced to zero; then
(e) finally, any remaining Net Cash From Operations shall be to Class A Members and Class B Members, pro rata.
Net Cash From Operations for the Company shall mean the excess of cash receipts over cash disbursements, including the payment of Company debt and establishment of Reserves as determined by the Manager, provided that: (i) cash receipts shall not include: (a) contributions to capital; (b) loan proceeds or other funds used to pay for the repayment of existing debt and the acquisition of capital assets or to maintain working capital; (c) insurance proceeds (other than from business interruption or rent loss insurance) received on account of loss or damage to the Property and proceeds received on account of any condemnation or taking of all or any part of the Company’s Property to the extent used or designated for use to repair, replace or restore the Property; and (d) funds from Reserve accounts applied for the purpose of the Reserve but excluding those deemed surplus by the Manager; and (ii) cash disbursements shall not include payments out of or charged against Reserve accounts.
Net Cash From Operations. Except in the event of a liquidation of the Company, Net Cash from Operations, if any, shall be distributed to its Members no less frequently than calendar quarterly in the following order of priority:
(i) First, in discharge of Member Loans, in reverse chronological order with the most recent Member Loan being discharged first, first in payment of accrued interest and then in payment of unpaid principal;
(ii) Second, in payment of Unrecovered Capital, pro rata among the Members so that the Unrecovered Capital due them is discharged simultaneously and proportionately; and
(iii) Thereafter, to the Members, pro rata, in accordance with their respective Sharing Ratios.
Net Cash From Operations. Except as otherwise provided in Article 11 of this Agreement, Net Cash from Operations, if any, shall be distributed not later than 30 days after the end of the fiscal year 100% to the Members. For purposes of this Agreement, "Net Cash from Operations" shall mean the gross cash proceeds from Company operations less the portion thereof used to pay or establish reserves for all Company expenses, debt payments, capital improvements and other contingencies, all as determined by the Manager(s) .
Net Cash From Operations. To the extent net cash from operations is available (as determined by the Member), and subject to subsection 6.2, the Company shall distribute to the Member net cash from operations in such amounts and at such intervals as are determined by the Member.
Net Cash From Operations. Except as otherwise provided in Section 15.03, Net Cash From Operations, if any, shall be distributed at such times and in such amounts as the General Partner may determine entirely to the Partners, in accordance with each Partner’s Sharing Percentage. Limited Partnership Agreement of Cowtown Pipeline Partners L.P. Page 11 of 35
Net Cash From Operations. “Net Cash From Operations” means the gross cash proceeds from Company operations less the portion thereof used to pay or establish reserves for all Company expenses (including amounts due the Members under their Services Contracts), debt payments, capital improvements, replacements and contingencies, all as determined by the Members holding a majority of the Voting Points. Net Cash From Operations shall not be reduced by depreciation, amortization or similar allowances. Net Cash From Operations shall be distributed to the Members as follows.
Net Cash From Operations. Subject to Section 1.1(c), Net Cash From Operations shall be distributed among the Members in proportion to their Ownership Percentages.
Net Cash From Operations. 3 3.22 Net Cash From Refinancings...................................3 3.23
