Quarterly Operating Distributions Sample Clauses
The Quarterly Operating Distributions clause outlines the process by which profits or available cash generated from operations are distributed to stakeholders on a quarterly basis. Typically, this clause specifies the timing, calculation method, and priority of payments, ensuring that distributions are made regularly and in accordance with the agreed-upon formula. Its core practical function is to provide predictability and transparency regarding when and how stakeholders will receive returns, thereby reducing uncertainty and potential disputes over profit allocation.
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Quarterly Operating Distributions. Subject to Sections 6.8 and 6.9, on each Distribution Date that is on or before the date that is 30 years after the Date of Full Operations of the first Plant to achieve Full Operations, the Partnership shall distribute in cash to the Limited Partners holding Class A Units as of such Distribution Date an aggregate amount equal to the amount of Distributable Cash determined by the General Partner with respect to the Quarter ending immediately prior to such Distribution Date (each such distribution, a “Quarterly Operating Distribution”), which Quarterly Operating Distribution shall be apportioned among such Limited Partners in proportion to their respective Limited Partner Quarterly Delivered Quantities during such Quarter, as compared to the Driftwood Quarterly Delivered Quantity for such Quarter.