Common use of OBLIGATION TO WITHHOLD DISTRIBUTIONS Clause in Contracts

OBLIGATION TO WITHHOLD DISTRIBUTIONS. Notwithstanding the above provisions, if the Net Operating Income for Coverage Ratio purposes 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 and customarily paid reasonable compensation) 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 If the above provisions, if ratio of (a) the Net Operating Income for Coverage Ratio purposes (after payment of any required deposit into the Capital Replacement Fund) for the Innisbrook Property to (b) Debt Service falls below the coverage ratio set forth in Section 2(a) of EXHIBIT D-1 1.20 to the Pledge Agreement1.00, at any time following the release of any Pledged OwnerLender's Shares (or security deposit securities held by Landlord Lender in lieu thereof), then Tenant Borrower shall thereafter retain, and not make cash dividends or distributions (except as may be necessary to pay any applicable taxes and customarily paid reasonable compensationattributable to the income of Borrower) to its shareholders, partners or members, as applicable, until such time as Tenant Borrower has accumulated six (6) months of Base Rent Interest at the then current level. Cash distributions may Such accumulated Base Interest shall be made maintained at such time as Tenant shall have all times until Borrower has again satisfied maintained such coverage ratios for two (2) consecutive Fiscal Years. Tenant Borrower shall provide Landlord Lender with such documentation, including Officer's Certificates and financial statementsCertificates, within forty-five (45) days after the end of each Fiscal Quarter as are necessary to establish TenantBorrower's compliance with the foregoing requirements.

OBLIGATION TO WITHHOLD DISTRIBUTIONS. Notwithstanding the above provisions, if the Net Operating Income for Coverage Ratio purposes 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 and customarily paid paid, reasonable compensation) 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.