Re-balancing Contributions Sample Clauses

Re-balancing Contributions. The Members hereby acknowledge and agree that the expected Completion Date (the “Expected Completion Date”) and the minimum annual revenue threshold (the “Minimum Annual Revenue”) for the Xxxxxx Property and the Columbia Property (each, a “Tested Property”) are as set forth on Schedule 4 attached hereto. A Tested Property shall be deemed a “Re-balancing Property” unless and until (i) the Completion Date for such Tested Property has occurred by the Expected Completion Date for such Tested Property and (ii) the Tested Property has generated the Minimum Annual Revenue for such Tested Property in any one of the three Revenue Testing School Years. (i) If any of the Re-balancing Properties have not met the Minimum Annual Revenue during any of the three Revenue Testing School Years, HSRE shall have the right, between the time period commencing September 15, 2011 and ending November 30, 2014 (the “Re-balancing Contribution Period”), to require Campus Crest to make a Capital Contribution to the Company with respect to each Re-balancing Property (a “Re-balancing Contribution”) such that, upon such Capital Contribution by Campus Crest, Campus Crest shall have contributed 49.9% of the total Capital Contributions invested by the Members with respect to such Re-balancing Property. Notwithstanding anything contained in Section 4.1 hereof to the contrary, following the date of the Re-balancing Contribution, any and all Distributions of Net Cash Flow made to the Members with respect to the Re-balancing Property after the repayment of any Campus Crest Guaranty Loans and Necessary Costs Loans pursuant to Section 4.1(a) or Section 4.1(b), as applicable, shall be distributed 49.9% to Campus Crest and 50.1% to HSRE. The Re-balancing Contribution shall be applied by the Company to pay down the loan encumbering the Re-balancing Property; provided, however, that in the event (x) the Re-balancing Property is encumbered by a permanent loan and (y) HSRE, in its sole and absolute discretion, determines that a pay down of such loan (1) is prohibited under the applicable loan documents with respect to loan encumbering the Re-balancing Property or (2) would be cost prohibitive due to yield maintenance or otherwise, then HSRE shall provide notice of such determination to Campus Crest, and instead of making a Re-balancing Contribution with respect to such Re-balancing Property in the amount set forth above, Campus Crest shall be obligated to make a Re-balancing Contribution, which amount s...
Sample 1
AutoNDA by SimpleDocs

Related to Re-balancing Contributions

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Campaign Contributions The CONTRACTOR is hereby notified of the applicability of 11-355, HRS, which states that campaign contributions are prohibited from specified state or county government contractors during the terms of their contracts if the contractors are paid with funds appropriated by a legislative body.

  • Other Contributions In this Agreement, Other Contributions means the financial or in-kind contributions other than the Grant set out in the following table: Contributor Nature of Contribution Amount (GST exclusive) Timing Grantee < insert description of contribution, e.g., cash, access to equipment, secondment of personnel etc> $<insert amount> <project end date> <name of third party providing the Other Contribution> <insert description of contribution, e.g., cash, access to equipment, secondment of personnel etc> $<insert amount> <insert date or Milestone to which the Other Contribution relates> Total $<total other contributions>

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!