Common use of Requirement of Distributions Clause in Contracts

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).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (El Paso Energy Partners Lp), Limited Liability Company Agreement (El Paso Energy Partners Lp)

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Requirement of Distributions. Subject to the provisions of Sections 5.6 5.6, 7.2 and 7.212.2, 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 monthquarter) such amount of Available Cash, as determined by the MembersMembers under Section 7.2(a)(i), to the Members who were Record Holders as of the Record Date in accordance with their respective Membership Interests (except Date, as otherwise provided in Section 5.7)5.4.

Appears in 1 contract

Samples: Limited Liability Company Agreement (El Paso Energy Partners Lp)

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Requirement of Distributions. Subject to the provisions of Sections 5.6 5.06 and 7.27.02, and less after the amount establishment of the cash reserves, if any, any reserve set aside pursuant to Section 5.55.05, the Company shall distribute (within 30 days following the end of each calendar month) such amount of Available Cash, 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)Interest.

Appears in 1 contract

Samples: Limited Liability Company Agreement (El Paso Energy Partners Lp)

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