Common use of OBLIGATION TO WITHHOLD DISTRIBUTIONS Clause in Contracts

OBLIGATION TO WITHHOLD DISTRIBUTIONS. Notwithstanding the above provisions, if the Net Operating Income for the Property falls below the coverage ratio set forth in Section 2(a) of EXHIBIT D-1 to the Pledge Agreement, at any time following the release of any Pledged Owner's Shares (or security deposit held by Landlord in lieu thereof), then Tenant shall thereafter retain, and not make cash distributions (except as may be necessary to pay any applicable taxes) to its shareholders, partners or members, as applicable, until such time as Tenant has accumulated six (6) months of Base Rent at the then current level. Cash distributions may be made at such time as Tenant shall have again satisfied such coverage ratios for two (2) consecutive Fiscal Years. Tenant shall provide Landlord with such documentation, including Officer's Certificates and financial statements, within forty-five (45) days after the end of each Fiscal Quarter as are necessary to establish Tenant's compliance with the foregoing requirements.

OBLIGATION TO WITHHOLD DISTRIBUTIONS. Notwithstanding the above provisions, if the Net Operating Income for the Property falls below the coverage ratio set forth in Section 2(a) of EXHIBIT D-1 to the Pledge Agreement, at any time following the release of any Pledged Owner's Shares (or security deposit held by Landlord in lieu thereof), then Tenant shall thereafter retain, and not make cash distributions (except as may be necessary to pay any applicable taxes) to its shareholders, partners or members, as applicable, until such time as Tenant has accumulated six (6) months of Base Rent at the then current level. Cash distributions may be made at such time as Tenant shall have again satisfied such coverage ratios for two (2) consecutive Fiscal Years. Tenant shall provide Landlord with such documentation, including Officer's Certificates and financial statements, within forty-five (45) days after the end of each Fiscal Quarter as are necessary to establish Tenant's compliance with the foregoing requirements.

OBLIGATION TO WITHHOLD DISTRIBUTIONS. Notwithstanding the above provisions, if the Net Operating Income for the Property falls below the coverage ratio set forth in Section 2(a) of EXHIBIT D-1 to the Owner's Shares Pledge Agreement, at any time following the release of any Pledged Owner's Shares (or security deposit held by Landlord in lieu thereof), then Tenant shall thereafter retain, and not make cash distributions (except as may be necessary to pay any applicable taxes) to its shareholders, partners or members, as applicable, until such time as Tenant has accumulated six (6) months of Base Rent at the then current level. Cash distributions may be made at such time as Tenant shall have again satisfied such coverage ratios for two (2) consecutive Fiscal Years. Tenant shall provide Landlord with such documentation, including Officer's Certificates and financial statements, within forty-five (45) days after the end of each Fiscal Quarter as are necessary to establish Tenant's compliance with the foregoing requirements.