Over-Distributions Sample Clauses

Over-Distributions. If the amount of any distribution to a Member under the Agreement exceeds the amount to which the Member in entitled (e.g., by reason of an accounting error), the Member shall, upon written notice of the over-distribution delivered to the Member within one year of the over-distribution, promptly return the amount of such over-distribution to the Company.
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Over-Distributions. If the Partnership distributes to a Partner more than the amount to which the Partner in entitled (e.g., by reason of an accounting error), the Partner shall, upon written notice of the over-distribution delivered to the Partner within one year of the over-distribution, promptly return the over-distribution to the Partnership. For the avoidance of doubt, this Section 4.7.2 applies to any distribution made under this Agreement.
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Over-Distributions. Notwithstanding anything to the contrary in Section 14.2 of the Agreement, the Partnership and the General Partner hereby agree that with respect to the Investor, upon the Partnership’s sale or other disposition of its entire interest in any Investment (including, without limitation, written-off Investments), the General Partner shall determine whether the Carried Interest Distributions otherwise previously paid to the General Partner or payable to the General Partner from the Net Distributable Cash from such Investment and all prior Investments allocable to the Investor, shall be redistributed as among the General Partner and the Investor (or returned by the General Partner and redistributed, if necessary) in accordance with the following: (a) After giving effect to any Carried Interest Distributions that would otherwise be made to the General Partner from Net Distributable Cash allocable to the Investor pursuant to paragraph 9 on account of such sale or other distribution, as well as all other Carried Interest Distributions previously distributed to the General Partner from Net Distributable Cash allocable to the Investor, the General Partner shall calculate the amount of any Over-Distribution that would exist if, as of the date of such sale or other disposition, the Partnership were finally liquidated, all of the Partnership’s remaining Investments were sold to a third party for an all cash price equal to their most recent values established in accordance with the most recent valuation of such Investments conducted pursuant to the Valuation Plan approved by the Advisory Committee pursuant to Section 6.6(e) of the Agreement (or if an Investment has been acquired by the Partnership but has not yet been valued under such Valuation Plan, the Partnership’s initial acquisition cost of such Investment) and from the proceeds of such deemed sale(s): (i) normal selling costs (including without limitation brokerage commissions, title, recording and escrow fees, and transfer taxes, to the extent applicable) customarily paid by a seller were paid; (ii) the remaining liabilities of the Partnership to creditors other than Partners or their Affiliates were liquidated pursuant to Section 14.1(b); (iii) reserves in an amount reasonably determined by the General Partner were established for any contingent, conditional or unmatured liabilities or obligations of the Partnership pursuant to Section 14.4(b); and (iv) the Partnership distributed any remaining amounts to the Pa...
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Related to Over-Distributions

  • Required Distributions Except in the case of a special needs beneficiary, the assets of the Xxxxxxxxx ESA are required to be distributed to the designated beneficiary within 30 days of the designated beneficiary’s attainment of age 30. The designated beneficiary will be subject to both income tax and an additional 10 percent penalty tax on the portion of the distribution that represents earnings, if the designated beneficiary does not have any qualified education expenses in that year. Any balance remaining in the Xxxxxxxxx ESA upon the death of the designated beneficiary will be distributed within 30 days of the designated beneficiary’s death, unless a death beneficiary is named and the death beneficiary is a qualified family member under age 30. If the death beneficiary is a qualified family member under age 30, that individual will become the designated beneficiary as of the date of death. Qualified family members include the designated beneficiary’s child, grandchild, or xxxxxxxxx, brother, sister, stepbrother, or stepsister, nephew or niece, parents, stepparents, or grandparents, uncle or aunt, spouses of all the family members listed above, cousin, and the designated beneficiary’s spouse. If a qualified family member becomes the designated beneficiary, the custodian, if it so chooses for any reason (e.g., due to limitations of its charter or bylaws), may require a total distribution of the Xxxxxxxxx ESA by December 31 of the year following the year of the original designated beneficiary’s death.

  • Qualified Reservist Distributions If you are a qualified reservist member called to active duty for more than 179 days or an indefinite period, the payments you take from your IRA during the active duty period are not subject to the 10 percent early distribution penalty tax.

  • Distributions to Members Section 9.1

  • Qualified Distributions Qualified distributions from your Xxxx XXX (both the contributions and earnings) are not included in your income. A qualified distribution is a distribution which is made after the expiration of the five-year period beginning January 1 of the first year for which you made a contribution to any Xxxx XXX (including a conversion from a Traditional IRA), and is made on account of one of the following events. • Attainment of age 59½ • Disability • First-time homebuyer purchase • Death For example, if you made a contribution to your Xxxx XXX for 2007, the five-year period for determining whether a distribution is a qualified distribution is satisfied as of January 1, 2012.

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