Common use of Permitted Tax Distributions Clause in Contracts

Permitted Tax Distributions. For any period during which a Borrower is taxed as a partnership under the IRC, such Borrower may pay to its owners, in quarterly installments reflecting the best estimate of taxable income through the Fiscal Quarters then ended, cash distributions (the "Permitted Tax Distributions") as and to the extent permitted in this Section.

Permitted Tax Distributions. For any period during which a Borrower is taxed as a partnership under the IRC, such Borrower may pay to its owners, in quarterly installments reflecting the best estimate of taxable income through the Fiscal Quarters then ended, cash distributions (the "“Permitted Tax Distributions"”) as and to the extent permitted in this Section.