Payment of Withdrawal Proceeds Sample Clauses

Payment of Withdrawal Proceeds. Subject to Section 6.07, the Partnership shall pay withdrawal proceeds without interest and within 30 Business Days after the applicable Withdrawal Date; except that if a Limited Partner elects to withdraw 95% or more of the balance of a particular Capital Account, the Partnership shall pay the Limited Partner an amount equal to at least 95% of the estimated withdrawal proceeds (computed on the basis of unaudited data as of the Withdrawal Date) with respect to the relevant Capital Account within 30 Business Days after the Withdrawal Date. If a Limited Partner elects to withdraw 95% or more of the balance of a particular Capital Account in the aggregate during a Fiscal Year by means of more than one withdrawal, the "holdback" amount described above will be adjusted to reflect the aggregate withdrawal amounts made during such Fiscal Year. The Partnership shall pay the Limited Partner's balance (subject to audit adjustments and without interest) within 30 days after the issuance of the audit of the Partnership's books for the Fiscal Year in which such Withdrawal Date occurs. If a Limited Partner holds more than one Capital Account, the General Partner may, in its sole discretion, pay such Limited Partner more than 95% of the estimated withdrawal proceeds (computed on the basis of unaudited data as of the Withdrawal Date) attributable to the fully withdrawn Capital Account, and in the event of an audit adjustment that exceeds the amount held back (or if no amount was held back), the General Partner may debit such Limited Partner's remaining Capital Accounts with the amount of the audit adjustment to the extent the amount held back was less than the audit adjustment or no amount was held back. Withdrawal proceeds payable to a withdrawing Limited Partner will be reduced by any Incentive Allocation allocable with respect to the withdrawn capital. If a Limited Partner has more than one Capital Account, withdrawal proceeds shall be paid on a "first-in, first-out" basis.
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Payment of Withdrawal Proceeds. (a) Withdrawals will be deemed effective as of the close of business on the applicable Withdrawal Date for a voluntary withdrawal, and as of the close of business on a date determined by the Managing Member for an involuntary withdrawal. Payment of withdrawal proceeds generally will be made as soon as practicable, but in any event not later than ten (10) business days after the Withdrawal Date; provided that the Managing Member may retain up to 10% of the estimated withdrawal proceeds and such proceeds shall be paid to the withdrawing Non-Managing Member, together with interest thereon (which will begin to accrue on the relevant Withdrawal Date) at a rate equal to the target overnight Federal Funds rate. The Company shall pay the balance as soon as practicable following the determination of the final month-end Net Asset Value as of the month in which the Withdrawal Date falls (b) The Managing Member, by written notice to a withdrawing Non-Managing Member, may suspend the payment of withdrawal proceeds to such Non-Managing Member if the Managing Member, in its sole and absolute discretion, deems it necessary to do so to comply with anti-money laundering laws and regulations applicable to the Company, the Managing Member, or any of the Company’s service providers.
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Payment of Withdrawal Proceeds. Subject to the other terms of this Agreement, payment of the amount requested to be withdrawn generally shall be made within seven (7) Business Days following the Withdrawal Date to the extent reasonably practicable.
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Payment of Withdrawal Proceeds. 3.6.1 Withdrawal proceeds shall generally be paid to the withdrawing Limited Partner in cash by wire transfer or such other permissible method. Withdrawal proceeds in respect of any withdrawal shall be paid within 10 Business Days following the applicable withdrawal date or as soon as practicable thereafter. 3.6.2 The General Partner shall make all reasonable efforts to make distributions in cash in connection with a Partner’s withdrawal of capital from the Partnership or otherwise. Notwithstanding the foregoing, in the unlikely event that the General Partner determines, in its discretion, that it is unable to liquidate a sufficient portion of the Partnership’s portfolio in order to satisfy any distribution to the Partners in full and in cash without materially adversely affecting the Affiliated Funds, then the General Partner may, in its discretion, make distributions in-kind and choose which Securities or other assets or liabilities of the Partnership to distribute in-kind. If the Partnership proposes to make a distribution in-kind, unless a Partner consents, and subject to Section 4.1.2.9 and Section 4.1.2.10, such distribution shall include no more of any particular Security or other asset or liability than the Partner’s share of such Security or asset or liability determined on a pro rata basis based on such Partner’s Partnership Percentage (i.e., as if determined on a “look-through” basis). Subject to Section 4.1.2.9 and Section 4.1.2.10, in the event that a Partner consents to receiving a distribution in-kind that is greater than its pro rata share of such Security or asset or liability based on such Partner’s Partnership Percentage, then such non pro rata distribution in-kind shall only be made if the Partnership is not materially adversely affected by such distribution in-kind. 3.6.3 If a distribution is made in-kind in connection with a Partner’s withdrawal of capital from the Partnership, then on the withdrawal date, the General Partner shall (i) determine the Fair Value of such in-kind proceeds and adjust the Capital Accounts of all Partners upwards or downwards to reflect the difference between the book value and the Fair Value thereof, as if such gain or loss had been recognized upon an actual sale of such in-kind proceeds on such date and allocated pursuant to Section 4.1.2; and (ii) reduce the Capital Account(s) of the distributee Partner by the Fair Value of such in-kind proceeds distributed (or to be distributed) to such Partner. In-kind ...
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Payment of Withdrawal Proceeds. The Partnership normally will pay at least 90% of the withdrawal proceeds within 10 Business Days of effective date of withdrawal, and will pay the remaining amount within 10 Business Days after the distribution to the Partners of the Partnership’s annual financial reports covering the period during which the withdrawal occurred. Withdrawal proceeds generally will be paid in cash. All or part of the proceeds of any withdrawal may be paid in-kind if the General Partner determines in its sole discretion that liquidating a portion of the Partnership’s portfolio to satisfy the withdrawal would adversely affect other Limited Partners. The General Partner of the Partnership may suspend the calculation of the net asset value and suspend or limit the withdrawal of Interests in the Partnership (i) during any period when the services and markets relied upon to value the Partnership’s portfolio are closed other than for ordinary holidays and weekends, or during periods in which dealings are restricted or suspended, (ii) during the existence of any state of affairs which, in the determination of the General Partner, constitutes an emergency as a result of which disposal of a substantial amount of investments by the Partnership would not be reasonably practicable or would be seriously prejudicial to its investors, (iii) during any breakdown in the means of communication normally employed in determining the price or value of any of the Partnership’s investments, or where the current prices or values of any investments owned by the Partnership cannot reasonably be promptly and accurately ascertained, or (iv) during any period when the transfer of funds involved in the realization or acquisition of any investments cannot, in the determination of the General Partner, be effected at normal rates of exchange. In such case, the redemption will be executed as soon as reasonably practicable. All reasonable steps will be taken to bring any period of suspension to an end as soon as possible.
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Payment of Withdrawal Proceeds. Withdrawal proceeds shall be paid in U.S. Dollars, except as set forth herein. Payment of withdrawal proceed are further subject to the following: (a) The Partnership generally expects to pay withdrawal proceeds within 15 days of the date the Net Asset Value of the Partnership is calculated by transfer to the original remitting bank account of the Limited Partner at the time of subscription (at the withdrawing Limited Partner’s risk and expense); provided, however, that if the Limited Partner elects to withdraw 95% or more of its holding, the Partnership will distribute to the Limited Partner at least 95% of the withdrawal proceeds within 15 days after the Net Asset Value is calculated and the balance will be paid, without interest, within 30 days after the completion of the annual audit of the Partnership’s books for the Fiscal Year in which such withdrawal occurred. (b) Where withdrawal proceeds are to be paid to a bank account other than that notified to the Administrator at the time of subscription, the Administrator may require the signature of the Limited Partner on the relevant withdrawal notice to be independently verified to the Administrator’s satisfaction and may also require the Limited Partner to provide detailed explanation and bank references. No withdrawal proceeds will be paid to third parties. The General Partner and the Administrator may cause the Partnership to refuse to make any withdrawal payment to a Limited Partner if either suspects or is advised that the payment of any withdrawal proceeds to such Limited Partner might result in a breach or violation of any applicable anti-money-laundering or other laws or regulations by any person in any relevant jurisdiction, or such refusal is considered necessary or appropriate to ensure the compliance by the Investment Adviser or the Administrator with any such laws or regulations in any relevant jurisdiction. (c) If at any time during the period from the time at which the withdrawal amount is calculated and the time at which withdrawal moneys are converted out of any other currency into U.S. Dollars to meet a withdrawal request there is an officially announced devaluation of that currency, the amount payable to any relevant withdrawing Limited Partner may be reduced as the General Partner considers appropriate to take account of the effect of that devaluation. (d) Distributions in respect of a withdrawal may be made in cash or in kind. In kind withdrawals will not be made if the General Partn...
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Related to Payment of Withdrawal Proceeds

  • Withdrawal from Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand. B. In the event of the withdrawal of any Fund from this Agreement, all its rights and obligations, except for lease commitments, under this Agreement (except such rights or obligations as have accrued prior to the date of withdrawal) shall terminate as of the date of the withdrawal. The withdrawing Fund shall surrender its Shares to Service Company, and (1) shall be entitled to receive from Service Company an amount equal to the excess of the fair value of (i) its Shares of other securities Service Company as of the date of its withdrawal less (ii) its proportionate interest in any liabilities of Service Company, including when appropriate any commitments of Service Company and unexpired leases at the date of withdrawal; (2) shall be obligated to pay Service Company an amount equal to the excess of (ii) over (i). Such amount to be received from or paid to Service Company shall be determined by the favorable vote of the holders of a majority of the Shares whose determination shall be conclusive upon the Funds. Any amount found payable by the Service Company to the withdrawing Fund shall be recoverable by Service Company from the Funds remaining under this Agreement in accordance with the provisions of Section 1.2, 1.3 and 1.4 hereof.

  • Withdrawal Events In the event of the death, retirement, withdrawal, expulsion, or dissolution of a Member, or an event of bankruptcy or insolvency, as hereinafter defined, with respect to a Member, or the occurrence of any other event which terminates the continued membership of a Member in the Company pursuant to the Statutes (each of the foregoing being hereinafter referred to as a “Withdrawal Event”), the Company shall terminate sixty days after notice to the Members of such withdrawal Event unless the business of the Company is continued as hereinafter provided. Notwithstanding a Withdrawal Event with respect to a Member, the Company shall not terminate, irrespective of applicable law, if within aforesaid sixty day period the remaining Members, by the unanimous vote or consent of the Members (other than the Member who caused the Withdrawal Event), shall elect to continue the business of the Company. In the event of a Withdrawal Event with respect to an Member, any successor in interest to such Member (including without limitation any executor, administrator, heir, committee, guardian, or other representative or successor) shall not become entitled to any rights or interests of such Member in the Company, other than the allocations and distributions to which such Member is entitled, unless such successor in interest is admitted as a Member in accordance with this Agreement. An “event of bankruptcy or insolvency” with respect to a Member shall occur if such Member:

  • Notice of Withdrawal Agent will return to any person tendering the Shares, in the manner described in Article I, Section 8 hereof, any Shares tendered by such person but duly withdrawn pursuant to the Offer to Purchase. To be effective, Agent must receive a written notice of withdrawal at its address as set forth on the back page of the Offer to Purchase, within the time period specified for withdrawal in the Offer to Purchase or other method mutually agreed to by the Purchaser and Agent. Any notice of withdrawal must specify the name of the registered holder of the Shares to be withdrawn, the number of the Shares to be withdrawn and, if such Shares are represented by a physical certificate, the number of such certificate. Agent is authorized and directed to examine any notice of withdrawal to determine whether it believes any such notice may be defective. In the event Agent concludes that any such notice is defective it shall, after consultation with and on the instructions of the Purchaser, use reasonable efforts in accordance with its regular procedures to notify the person delivering such notice of such determination. All questions as to the form and validity (including time of receipt) of notices of withdrawal will be determined by the Purchaser in its sole discretion, whose determination shall be final and binding. Any Shares withdrawn in accordance with the procedures set forth in this section shall no longer be considered to be properly tendered unless such Shares are re-tendered prior to the Expiration Date in accordance with Article I, Section 2 hereof.

  • Right of withdrawal If you are a consumer, you have the right to withdraw from the User Agreement without giving any reason and without penalty within 14 days of your account being opened. To do so, you must, within these 14 days, follow the process to close your account which will end the User Agreement. PayPal thinks consumers should have the choice to use our services or not so we don’t lock you into a contract. This is why, in addition to these mandatory rights, even after 14 days, you can end your agreement by closing your account. By making use of our services during the 14-day withdrawal period you require our services to be provided before the end of the 14-day right of withdrawal period. You will have to pay fees for the services you used (including during the 14-day withdrawal period) up until you close your account and withdraw your balance, if any. All pending transactions will be cancelled when you close your account. See the section “Closing your PayPal account” in the User Agreement for more details.

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes: (i) to reimburse itself for Advances made pursuant to Section 6.03 (including amounts to reimburse the related Sub-Servicer for advances made pursuant to the applicable Sub-Servicing Agreement), the Servicer's and the Sub-Servicer's right to receive reimbursement pursuant to this subclause (i) being limited to amounts received on particular Mortgage Loans which represent Late Collections (net of the Servicing Fees) with respect to those particular Mortgage Loans; (ii) to pay itself the Servicing Fee; (iii) to reimburse itself for unreimbursed Servicing Advances, or to pay the related Sub-Servicer any unreimbursed Servicing Advances, the Servicer's right to receive reimbursement or make payments to the Sub-Servicer pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Insurance Proceeds, and condemnation awards; (iv) to reimburse itself (or the related Sub-Servicer) or the Depositor for expenses incurred by and recoverable by or reimbursable to it pursuant to Section 5.01 or 5.16; (v) to reimburse itself (or the related Sub-Servicer) for any Nonrecoverable Advances; (vi) to pay to itself (or the related Sub-Servicer) income earned on the investment of funds deposited in the Collection Account; (vii) to make deposits into the Certificate Account in the amounts and in the manner provided for herein; (viii) to make payments to itself or others pursuant to any provision of this Agreement, and to clear and terminate the Collection Account upon the termination of this Agreement; and (ix) to withdraw amounts deposited in error.

  • Partial Withdrawals At any time any Holder shall be entitled to request a withdrawal of such portion of the Interest held by such Holder as such Holder shall request.

  • Withdrawal Conditions; Withdrawal Period 1. Notwithstanding the provisions of Part A of this Section, no withdrawal shall be made for payments made prior to the date of this Agreement. 2. The Closing Date is June 30, 2013.

  • Effect of Withdrawal The Company shall not be dissolved by the dissolution or other event of withdrawal of a Member if any Member remains to carry on the business of the Company.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes: (i) to pay to such Servicer (to the extent not previously retained by such Servicer) the servicing compensation to which it is entitled pursuant to Section 3.14, and to pay to such Servicer, as additional servicing compensation, earnings on or investment income with respect to funds in or credited to such Collection Account; (ii) to reimburse such Servicer for unreimbursed Advances made by it, such right of reimbursement pursuant to this subclause (ii) being limited to amounts received on the Non-Designated Mortgage Loan(s) in respect of which any such Advance was made (including without limitation, late recoveries of payments, Liquidation Proceeds and Insurance Proceeds to the extent received by such Servicer); (iii) to reimburse such Servicer for any Nonrecoverable Advance previously made or any amount expended pursuant to Section 3.11(a); (iv) to reimburse such Servicer for (A) unreimbursed Servicing Advances, such Servicer’s right to reimbursement pursuant to this clause (A) with respect to any Non-Designated Mortgage Loan being limited to amounts received on such Non-Designated Mortgage Loan which represent late payments of principal and/or interest (including, without limitation, Liquidation Proceeds and Insurance Proceeds with respect to such Mortgage Loan) respecting which any such advance was made and (B) for unpaid Servicing Fees as provided in Section 3.11 hereof; (v) to pay to the purchaser, with respect to each Non-Designated Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.11, all amounts received thereon after the date of such purchase; (vi) to make any payments required to be made pursuant to Section 2.07(g); (vii) to withdraw any amount deposited in such Collection Account and not required to be deposited therein; (viii) on the Cash Remittance Date, to withdraw an amount equal to the portion of the Available Distribution Amount applicable to the Non-Designated Mortgage Loans serviced by such Servicer, who will remit the aggregate of such amounts to the Trust Administrator for deposit in the Certificate Account; (ix) with respect to each Non-Designated Mortgage Loan covered by a Lender Paid Mortgage Guaranty Insurance Policy, to effect timely payment of the premiums on such Mortgage Guaranty Insurance Policy pursuant to Section 3.09(c) to the extent not deducted by such Servicer prior to deposit into the applicable Collection Account pursuant to Section 3.05(c); and (x) to clear and terminate such Collection Account upon termination of this Agreement pursuant to Section 11.01 hereof. Each Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the related Collection Account pursuant to such subclauses (i), (ii), (iv) and (v). Prior to making any withdrawal from a Collection Account pursuant to subclause (iii) of a Nonrecoverable Advance, the related Servicer shall deliver to the Trust Administrator a certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by such Servicer to be a Nonrecoverable Advance and identifying the related Non-Designated Mortgage Loans(s), and their respective portions of such Nonrecoverable Advance. In connection with the payment of a Purchase Price, if a Servicer is not required to remit unreimbursed Servicing Advances as specified in the definition of Purchase Price, such Servicer shall be deemed to have been reimbursed for such amount. (b) The Trust Administrator shall withdraw funds from the Certificate Account for distributions to Certificateholders in the manner specified in this Agreement (and to withhold from the amounts so withdrawn, the amount of any taxes that it is authorized to withhold pursuant to Section 2.07). In addition, the Trust Administrator may from time to time make withdrawals from the Certificate Account for the following purposes: (i) to pay to itself the Trust Administrator Fees to which it is entitled pursuant to Section 10.05 and any investment income earned for the related Distribution Date, and to pay to itself or the Master Servicer any other amounts in respect of reimbursement of costs, expenses, indemnification or other amounts to which it or the Master Servicer is entitled to reimbursement or payment under the terms of this Agreement; (ii) to withdraw and return to the Master Servicer or the applicable Servicer, in the case of the applicable Servicer for deposit to the applicable Collection Account, any amount deposited in the Certificate Account and not required to be deposited therein; and (iii) to clear and terminate the Certificate Account upon termination of the Agreement pursuant to Section 11.01 hereof.

  • Early Withdrawal Penalty Unless provided otherwise in the Disclosures, we will assess an early withdrawal penalty on any withdrawal, either partial or in whole, that we allow you to make from your account prior to the account's maturity date. The method for determining that penalty is described in the Disclosures.

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