Nonliquidating Distributions. The Manager will cause the Company to make distributions of the Distribution Amount in the following manner:
Nonliquidating Distributions. Except as otherwise provided in Sections 5 and 6 of this Partnership Unit Designation:
Nonliquidating Distributions. (a) Subject to Section 5.1(c) below, all nonliquidating distributions of cash and other property shall be distributed to the Members of the Company, pro rata, in accordance with their percentage Interests. All nonliquidating distributions other than Tax Distributions shall be made in such amounts and at such times as may be determined by the Managing Member. The Managing Member may establish reasonable reserves to provide funds for improvements, contingencies or working capital of the Company. No distribution shall be made if the distribution would leave the Company unable to pay its debts as they become due in the ordinary course of business or would violate the obligations of the Company under any material agreement relating to indebtedness.
Nonliquidating Distributions. (a) Holders of Class A Preferred Units shall be entitled to receive, when and as authorized by the General Partner, and declared by the Partnership out of funds of the Partnership legally available for payment, preferential cumulative cash distributions at the Class A Preferred Return Rate (the “Class A Preferred Return”). Such distributions shall be cumulative from the date of original issue and shall be payable quarterly, in equal amounts, on or before the period ending on such Preferred Unit Distribution Payment Date. Any quarterly distribution payable on the Class A Preferred Units for any partial distribution period will be computed on the basis of twelve 30-day months and a 360-day year. Distributions will be payable in arrears to holders of record of Class A Preferred Units as they appear on the records of the Partnership at the close of business on the applicable record date, which shall be the first day of the calendar month in which the applicable Preferred Unit Distribution Payment Date occurs or such other date designated by the General Partner for the payment of distributions that is not more than 90 nor less than 10 days prior to such Preferred Unit Distribution Payment Date (each, a “Preferred Unit Distribution Record Date”). The “
Nonliquidating Distributions. Cash Flow shall be distributed to the Members in amounts deemed appropriate by the Management Committee after establishing appropriate reserves. Except as provided in Section 4.2, all distributions of Cash Flow shall be made among the Members in accordance with their respective Sharing Ratios.
Nonliquidating Distributions. 6.1.1 Subject to section 6.3, the Company and Members agree that for each fiscal year, the Company shall distribute sufficient cash to the Members (pro rata, in accordance with the number of each Member’s Shares) for the Members to timely pay when due (whether in estimated tax payments or with a final tax return, as applicable) all federal, state, and local income taxes resulting from the income of the Company being taxed to the Members due to the partnership tax status of the Company (Tax Distributions). The Company’s obligation to make the Tax Distributions shall be deemed to be a liability of the Company and shall be properly reserved for by the Company before making any other nonliquidating distributions. For this purpose, the Members will be deemed to pay tax at the highest marginal corporate income tax rate.
Nonliquidating Distributions. Except as otherwise provided in Section 4.1.1 with respect to Liquidating Distributions, and subject to Section 4.4, distributions (a) out of Undistributed Profits shall be applied and distributed pro rata to the holders of the Units in proportion with their respective Percentage Interest and (b) not out of Undistributed Profits shall be applied in the same manner as distributions pursuant to Section 4.1.1.
Nonliquidating Distributions. (a) Holders of the Class B Contingent Units shall be entitled to receive, if and when and as authorized by the General Partner, and declared by the Partnership out of funds of the Partnership legally available for payment, and only if a regular quarterly cash distribution shall have been declared by the General Partner with respect to the OP Units (as described in Section 17.04(c) below), non-cumulative quarterly cash distributions (“Regular Class B Cash Distributions”) per Class B Contingent Unit equal to: (i) from the Effective Date through December 31, 2014, 0.375% per quarter of the Class B Contingent Base Amount, (ii) from January 1, 2015 through December 31, 2015, 0.75% per quarter of the Class B Contingent Base Amount and (iii) thereafter, 1.125% per quarter of the Class B Contingent Base Amount. Distributions with respect to Class B Contingent Units shall not be cumulative. Any Regular Class B Cash Distribution shall be payable quarterly, on the regular quarterly OP Unit distribution date. Any Distributions paid with respect to Class B Contingent Units will be payable in arrears to holders of record of the Class B Contingent Units as they appear on the records of the Partnership at the close of business on the applicable Partnership Record Date. No interest, or sum of money in lieu of interest, shall be payable in lieu of any distribution payment or payments on Class B Contingent Units.
Nonliquidating Distributions. To the extent legally permissible, the Management Committee shall cause the Company to distribute Available Cash to the Members quarterly, within 30 days after the end of each calendar quarter. In addition, the Company may make distributions of Available Cash at such times and in such amounts as the Management Committee shall determine. Except as provided in Sections 7.5(d)(i)(B) and 7.5(d)(ii)(B), all distributions made pursuant to this Section 8.1 shall be made among the Members in accordance with their Sharing Ratios at the time of distribution.
Nonliquidating Distributions. The Members may, in their discretion, make distributions to the Members from time to time. Such action shall be authorized by the affirmative vote or consent of all of the Members. Distributions may be made only after the Members determine that the Company has cash on hand exceeding the Company’s current and anticipated needs (including operating expenses, debt service, capital expenditures, and establishment of reserves) that shall not be retained to pursue any existing, potential, or future business or investment opportunities. All distributions shall be made to the Members in accordance with their proportionate ownership of the Shares. Distributions shall be in cash or property, or both, as the Members may determine. No distribution shall be declared or made if, after giving it effect, the Company would not be able to pay its debts as they become due in the usual course of business or if the Company’s total assets would be less than the sum of its total liabilities. Subject to the foregoing limitations and qualifications, the Members shall endeavor to make distributions to the Members at the times and in the amounts sufficient to allow the Members to pay their share of income tax due on the operations of the Company.
