Requirement of Distributions. (a) Within 45 days following the end of (i) the period beginning on the Closing Date and ending on October 31, 1994 and (ii) each Quarter commencing with the Quarter beginning on November 1, 1994, an amount equal to 100% of Available Cash with respect to such period or Quarter shall be distributed in accordance with this Article V by the Partnership to the Partners in accordance with their respective Percentage Interests. The immediately preceding sentence shall not require any distribution of cash if and to the extent such distribution would be prohibited by applicable law or by any loan agreement, security agreement, mortgage, debt instrument or other agreement or obligation to which the Partnership is a party or by which it is bound or its assets are subject.
(b) Notwithstanding the foregoing, in the event of the dissolution and liquidation of the Partnership, all proceeds of such liquidation shall be applied and distributed in accordance with, and subject to the terms and conditions of, Sections 13.3 and 13.4.
Requirement of Distributions. Within fifty days following the end of each calendar quarter, an amount equal to 100% of Available Cash with respect to such quarter (or period) shall be distributed by the Partnership to the Partners in accordance with their respective Percentage Interests. The immediately preceding sentence shall not require any distribution of cash if and to the extent such distribution would be prohibited by applicable law or by any loan agreement, security agreement, mortgage, debt instrument or other agreement or obligation to which the Partnership is a party or by which it is bound or its assets are subject.
Requirement of Distributions. (a) Subject to the provisions of Section 5.3(b) and Section 10.2(d), distributions of assets and properties of the Company shall be made by the Company at such times as determined by the Managing Member in its sole discretion. Each distribution of cash or other property by the Company shall be made one hundred percent (100%) to the Members pro rata in accordance with each Member’s Percentage Interest. Distributions of cash shall be made to the Members by wire transfer or ACH to the account designated by the relevant Member. For purposes of the foregoing, if payments are made by or on behalf of the Company to a Member or an Affiliate thereof other than in respect of such Member’s Membership Interests (including in respect of indebtedness for borrowed money), then such payments shall not be considered a distribution for purposes of determining the allocation of a distribution pursuant to this Section 5.3(a).
(b) Notwithstanding the foregoing:
(i) The Managing Member shall cause Available Cash to be distributed on or prior to each April 15, June 15, September 15 and December 15 (or the next succeeding Business Day if such date falls on a date other than a Business Day) (each an “Estimated Tax Payment Date”), with respect to the taxable period related to each Estimated Tax Payment Date (each, an “Estimated Tax Period”), to each Member. Such distributions shall be made pro rata to each Member based on such Member’s pro rata share of the Tax Amount (taking into account such Member’s Percentage Interest); provided, that, a Member’s pro rata share of the Tax Amount will only be distributed to such Member to the extent that the aggregate amount previously distributed to such Member pursuant to Section 5.3(a) hereof or this Section 5.3(b)(i) in such Fiscal Year is less than the amount required to be distributed to such Member on such Estimated Tax Payment Date under this Section 5.3(b)(i); provided, further, that there will be an adjustment following each Fiscal year (but no later than one (1) day prior to the due date for payment of U.S. federal taxes by a corporation), and the Company shall distribute any additional amounts as necessary to make the amounts previously distributed to a Member pursuant to Section 5.3(a) hereof or this Section 5.3(b)(i) in such Fiscal Year equal such Member’s pro rata share of the
Requirement of Distributions. Subject to the provisions of Sections 5.6 and 7.2, and less the amount of the cash reserves, if any, set aside pursuant to Section 5.5, the Company shall distribute (within 30 days following the end of each calendar month) such amount of Available Cash, as determined by the Members, to the Members who were Record Holders as of the Record Date in accordance with their respective Membership Interests (except as otherwise provided in Section 5.7).
Requirement of Distributions. (a) Subject to Section 5.3(b) and Section 10.2(d) and the applicable provisions of the Act, Available Cash (and other assets and properties of the Company as contemplated by this Agreement if approved by Majority Consent), shall be distributed by the Company to the Members upon the Majority Consent of the Board. Distributions of assets and properties other than cash and cash equivalents shall be based upon the Fair Market Value of the applicable assets or properties and in accordance with the terms of this Section 5.3 as if such assets and properties were cash or cash equivalents equal to their Fair Market Value. Distributions of cash shall be made to the Members by wire transfer of immediately available funds to the account designated by the relevant Member. Subject to Section 5.3(b), any distribution to the Members shall be made to the Members as follows:
(i) First, pro rata to the Common Units Members until each holder of the Common Units has received cumulative distributions in an amount sufficient to achieve a ten percent (10%) Internal Rate of Return with respect to each Common Unit;
(ii) Second, thereafter to the holders of Class A Units pro rata in proportion to their ownership of the issued and authorized Class A Units in an amount equal to fifteen percent (15%) of the portion of any distribution to which this Section 5.3(a)(ii) applies and the remainder to the holders of Common Units until (x) each Common Units Member has received cumulative distributions in an amount sufficient to achieve a seventeen percent (17%) Internal Rate of Return with respect to each Common Unit and (y) each holder of the Common Units has received cumulative distributions in an amount equal to two (2) multiplied by each such Member’s Aggregate Capital Contributions Amount;
(iii) Third, thereafter to the holders of Class A Units pro rata in proportion to their ownership of the issued and authorized Class A Units in an amount equal to twenty percent (20%) of the portion of any distribution to which this Section 5.3(a)(ii) applies and the remainder to the Common Units Member until (x) each holder of the Common Units has received cumulative distributions in an amount sufficient to achieve a twenty-five percent (25%) Internal Rate of Return with respect to each Common Unit and (y) each holder of the Common Units has received cumulative distributions in an amount equal to three (3) multiplied by each such Member’s Aggregate Capital Contributions Amount; and
(iv) Fourth, therea...
Requirement of Distributions. (a) Within 45 days following the end of each calendar quarter (or following the period from the Closing Date to June 30, 1994) an amount equal to 100% of Available Cash with respect to such quarter (or period) shall be distributed in accordance with this Article V by the Partnership to the Partners in accordance with their respective Percentage Interests. The immediately preceding sentence shall not modify in any respect the provisions of Section 4.2 regarding the distribution of any interest or other profit on the initial contributions referred to therein or require any distribution of cash if and to the extent such distribution would be prohibited by applicable law or by any loan agreement, security agreement, mortgage, debt instrument or other agreement or obligation to which the Partnership is a party or by which it is bound or its assets are subject.
(b) Notwithstanding the definition of Available Cash contained herein, disbursements made or reserves established after the end of any quarter shall be deemed to have been made or established, for purposes of determining Available Cash, within such quarter if the General Partner so determines. Notwithstanding the foregoing, in the event of the dissolution and liquidation of the Partnership, all proceeds of such liquidation shall be applied and distributed in accordance with, and subject to the terms and conditions of, Sections 13.3 and 13.4
Requirement of Distributions. 19 ARTICLE VI - MANAGEMENT AND OPERATION OF BUSINESS............................20
Requirement of Distributions. 40 5.4 PRO RATA DISTRIBUTIONS..........................................................................40 5.5 RESERVES........................................................................................40 5.6
Requirement of Distributions. (a) Within 10 Business Days following the end of each Quarter commencing with the Quarter ending on December 31, 2009, an amount equal to 100% of Available Cash from Operations shall, subject to Section 18-607 of the Act, be distributed in accordance with this Article V by the Company to the Members. All distributions required to be made under this Agreement shall be made subject to Sections 18-607 and 18-804 of the Act, as applicable.
(b) Notwithstanding Section 5.6(a), in the event of the dissolution and liquidation of the Company, all receipts received during or after the Quarter in which the Liquidation Date occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 10.2.
(c) The Board shall treat taxes paid by the Company on behalf of, or amounts withheld with respect to, all or less than all of the Members, as a distribution of Available Cash from Operations to such Members.
Requirement of Distributions. At such time as determined by the General Partner, an amount equal to 100% of Available Cash with respect to such period determined by the General Partner shall be distributed in accordance with this Article V by the Partnership to the Partners in accordance with their respective Percentage Interests. The immediately preceding sentence shall not require any distribution of cash if and to the extent such distribution would be prohibited by applicable law or by any loan agreement, security agreement, mortgage, debt instrument or other agreement or obligation to which the Partnership is a party or by which it is bound or its assets are subject.
(a) Notwithstanding the definition of Available Cash contained herein, disbursements made or reserves established after the end of any quarter shall be deemed to have been made or established, for purposes of determining Available Cash, within such quarter if the General Partner so determines. Notwithstanding the foregoing, in the event of the dissolution and liquidation of the Partnership, all proceeds of such liquidation shall be applied and distributed in accordance with, and subject to the terms and conditions of, Sections 13.3 and 13.4
