Ordinary Distributions Sample Clauses

Ordinary Distributions. Subject to the provisions of Section 6.4 upon the approval of a majority of the Board, the Company may make distributions (in amounts to be determined by the Board) to Members in proportion to their respective Common Interest Percentages.

Ordinary Distributions. Subject to Sections 3.3(a)(ii) and (iii), the Company shall make Ordinary Distributions in such amounts and at such times as the Board shall determine from time to time. If Ordinary Distributions are to be made of securities or other assets owned by the Company, in kind, the Board shall determine in good faith the fair market value of such securities and other assets. Ordinary Distributions shall be made among the Members in proportion to their respective Percentage Interests. (i) No distributions shall be made pursuant to this Section 3.3(a), or pursuant to Sections 3.3(b) and 3.3(c) below, to the extent that, after the distribution is made, the liabilities of the Company (other than liabilities for which recourse of creditors is limited to specific assets of the Company) would exceed the fair market value of the Company’s assets (net of any liabilities to which those assets may be subject). (ii) Following the *** anniversary of the Effective Date, the Company’s distribution policy shall be to distribute all available free cash flow of the Company after consideration of the subsequent year’s capital and operating budgets (the “Distribution Policy”). Any changes to the Distribution Policy shall be subject to the Supermajority Approval of the Members as provided in Section 5.6. (iii) Prior to the *** anniversary of the Effective Date, *** shall be made pursuant to Section 3.3(a) *** the Supermajority Approval of the Members.

Ordinary Distributions. To the extent permitted by applicable Law and hereunder, Distributions to Members may be declared by the Managing Member out of funds or property in such amounts and on such terms (including the payment dates of such Distributions) as the Managing Member shall determine using such record date as the Managing Member may designate; such Distributions shall be made to the Members as of the close of business on such record date, subject to any Unit Designation and Section 4.01(b), on a pro rata basis in accordance with each Member’s Percentage Interest as of the close of business on such record date; provided, however, that the Company shall have the obligation to make Distributions as set forth in Sections 4.01(c) and Article XIV; and provided further that, notwithstanding any other provision herein to the contrary, no Distributions shall be made to any Member to the extent such Distribution would render the Company insolvent. For purposes of the foregoing sentence, insolvency means the inability of the Company to meet its payment obligations when due as determined by the Managing Member in its sole discretion. Promptly following the designation of a record date and the declaration of a Distribution pursuant to this Section 4.01(a), the Managing Member shall give notice to each Member of the record date, the amount and the terms of the Distribution and the payment date thereof.

Ordinary Distributions. Subject to the provisions of Section 6.4, after provision for sufficient working capital consistent with good fiscal operating policy and management and such other reserves and needs as the Manager, in its sole and absolute discretion, shall deem necessary, the Manager shall cause the Preferred Return, or any available portion thereof, to be distributed to Members promptly following the end of each month and all other Distributable Cash to be distributed promptly following the end of each fiscal quarter. Distributions of Distributable Cash shall be distributed to Members as follows: (a) first, in proportion to the difference between (i) each Member’s accrued Preferred Return and (ii) aggregate distributions made to that Member pursuant to this Section 6.2(a); and (b) thereafter, in proportion to their respective Percentage Interest.

Ordinary Distributions. Distributions to the Members shall be made in such aggregate amounts and at such times as shall be determined by the Board; provided, however, that distributions shall be made quarterly of any available cash representing distributions received by the Company from the Partnership. Except as provided in Sections 6.02 and 6.03, any such distributions shall (after the repayment of any loans from Members pursuant to Section 5.02) be distributed among the Members as follows: (a) First, among the Common Unitholders, in proportion to their respective Sharing Ratios, until the amount distributed to the Common Unitholders pursuant to this Section 6.01(a) in respect of a particular quarter equals $1,250,000; and (b) Second, any remaining amounts to be distributed by the Company pursuant to this Section 6.01 after making the distributions specified in subsection (a) (the “Excess 6.01 Distributions”) shall be shared among the PI Unitholders and the Common Unitholders as follows: (i) PI Unitholders shall receive their respective Vested Sharing Percentages of the Excess 6.01 Distributions; and (ii) Common Unitholders shall receive (in proportion to their respective Sharing Ratios) an amount equal to the Excess 6.01 Distributions, minus the amount distributable to the PI Unitholders under the immediately preceding clause (i).

Ordinary Distributions. If at any time and from time to time (other than in connection with the dissolution and termination of the Company pursuant to Article 15), the Management Committee determines that the Company has cash (or may draw on unfunded loan commitments to the extent permitted by the Financing Documents) that is not required for the operations of the Company, the payment of liabilities or expenses of the Company, the payment of the Special Distribution, Priority Distributions, Reimbursable Member Expenses and Reimbursable Project Management Expenses or the setting aside of reserves to meet the anticipated cash needs of the Company, unless the Management Committee shall decide otherwise, it shall cause the Company to distribute such available cash, or draw on any unfunded loan commitments to the extent permitted by the Financing Documents, and distribute all or any portion of that excess cash and drawdown funds to the Members Pro Rata, subject to the provisions of the Financing Documents. In addition, within thirty (30) days following the Commercial Operation Date, unless the Management Committee shall decide otherwise, it shall cause the Company to distribute to the Members Pro Rata, the Development Fees, subject to the provisions of the Financing Documents.

Ordinary Distributions. The Partners agree that the Company shall, promptly as practicable after the end of each fiscal year, distribute dividends up to a maximum amount equal to the annual profit after tax but only if and to the extent the Company: (a) has reached and can be expected to maintain a level of consolidation required by Swedish law; and (b) has ensured that its future requirements for budgeted capital expenditure consistent with good fiscal operating policy and management, including taxes payable are secured; all as shall be determined by the Board (the "Distributable Proceeds").

Ordinary Distributions. Ordinary Distributions shall be apportioned and allocated among the Members as follows: (i) first, distributed to the holders of the Common Units (including, for the avoidance of doubt, the Equitized Units) pro rata in proportion to the Capital Contributions with respect to such Common Units held by such holders until such holders have received aggregate distributions under this Section 4.01(b)(i) (or, in the case of Equitized Units, this Section 4.01(b)(i) and previously under Section 4.01(b)(ii), (iii), (iv), (v), (vi) or (vii)) of an amount equal to such Capital Contributions; (ii) second, distributed to the holders of the Initial Units (excluding, for the avoidance of doubt, the Equitized LTIP Units and the Equitized Series B Rollover Profits Units) that are Time-Based LTIP Units or Series B Rollover Profits Units pro rata in proportion to the number of such Initial Units held by each such holder until each such holder has received aggregate distributions under this Section 4.01(b)(ii) in an amount equal to the aggregate Equitizing Capital Balance with respect to such Initial Units owned by such holder; (iii) third, distributed to the holders of any Initial Units (excluding, for the avoidance of doubt, the Equitized LTIP Units) that are Vested Performance-Based LTIP Units pro rata in proportion to the number of such Initial Units held by each such holder until each such holder has received aggregate distributions under this Section 4.01(b)(iii) in an amount equal to the aggregate Equitizing Capital Balance with respect to such Initial Units owned by such holder; (iv) fourth, distributed to the holders of any Initial Units (excluding, for the avoidance of doubt, the Equitized LTIP Units) that are Unvested Performance-Based LTIP Units pro rata in proportion to the number of such Initial Units held by each such holder until each such holder has received aggregate distributions under this Section 4.01(b)(iv) of an amount equal to the aggregate Equitizing Capital Balance with respect to such Initial Units owned by such holder; (v) fifth, distributed to the holders of each series of Future LTIP Units, in the order that such series were issued to such holders, pursuant to clauses (ii) (in the case of any Future LTIP Units that are Time-Based LTIP Units), (iii) (in the case of any Future LTIP Units that are Vested Performance-Based LTIP Units), and (iv) (in the case of any Future LTIP Units that are Unvested Performance-Based LTIP Units), mutatis mutandis, tre...

Ordinary Distributions. (i) Subject to the provisions of Section 6.3 and Section 6.5, distributions of available cash may be made as the Board shall deem appropriate (in its sole discretion) in immediately available funds as follows: (a) first, to each holder of Preferred Units, an amount equal to the Overdue Amount (as defined in Section 6.2(ii)) in respect of such holder's Preferred Units, if any; (b) second, to each holder of Preferred Units, a Preferred Dividend in respect of such holder's Preferred Units, if any; and (c) thereafter, to the holders of Common Units or any Preferred Units that participate with Common Units, pro rata in proportion to the number of such Units held by such holder. (ii) If for any reason the Company does not pay on a Distribution Date to any holder of Preferred Units the total amount of the Preferred Dividend in respect of such holders Preferred Units due on such Distribution Date pursuant to Section 6.2(i)(b), the amount of such Preferred Dividend which is not paid on such Distribution Date shall accrue a return at a rate equal to the Penalty Rate until such unpaid amount and the return thereon (the "OVERDUE AMOUNT") is paid in full. The Company shall pay the Overdue Amount as soon as possible, and shall not be required to wait until a Distribution Date to make such payment. (iii) Notwithstanding the other provisions of this Section 6.2, the Company shall no longer make Distributions pursuant to Sections 6.2(i)(a) and 6.2(i)(b) with respect to that portion of any Preferred Unit which has been redeemed pursuant to the payment of a Special Preferred Distribution. (iv) Notwithstanding the other provisions of this Section 6.2, subject to the provisions of Section 6.3, at any time as the Board shall deem appropriate, the Company shall make to each holder of Preferred Units a Special Preferred Distribution in respect of such holder's Preferred Units.

Ordinary Distributions. All Distributions of Net Cash Available, except Distributions made pursuant to dissolution of the Partnership or in redemption of any Partner's interest in the Partnership, shall be distributed to and among the Partners in accordance with their Partnership Interests, as set forth on Exhibit A hereto.