Voluntary Distributions Sample Clauses
The Voluntary Distributions clause defines the conditions under which a company or entity may choose to distribute assets, such as cash or property, to its shareholders or members at its own discretion. Typically, this clause outlines the process for declaring and paying out such distributions, including any necessary approvals or limitations, and may specify the timing and form of the distributions. Its core practical function is to provide a clear framework for non-mandatory payouts, ensuring that all parties understand when and how voluntary distributions can occur, thereby reducing disputes and promoting transparency.
Voluntary Distributions. At any time and from time to time after the LJM2 Member has received all distributions to which it is entitled under Section 5.1(c), the Company may make cash distributions to the Grizzly Roadrunner Member pursuant to Section 5.1.
Voluntary Distributions. To the extent the Managers determine in their reasonable discretion that Available Cash for distributions exists and distributions are otherwise permitted by the terms of the Company’s indebtedness, the Managers shall make non-liquidating distributions of such Available Cash to the Members at such time and in such amount as determined by the Manager in its reasonable discretion on a pro rata basis in accordance with the Members’ respective Percentage Interest.
Voluntary Distributions. If the value of the Vested part of the Participant's Account (excluding Deductible Contributions within the meaning of Code section 72(o)(5)(B)) exceeds $3,500 (or at the time of any other distribution, exceeded $3,500), then distribution after the Participant Terminates Service will require the consent of the Participant. If payment in the form of a Qualified Joint and Survivor Annuity is required with respect to the Participant as described in Section 6.3, then the consent of the Participant and the Participant's spouse (or the survivor of either) must be obtained before any distribution if:
(1) The Participant Terminates Service before attaining the later of Normal Retirement Age or age 62; or
(2) The Plan is terminated at a time the Plan is subject to the Survivor Annuity Rules and the Participant has not attained age 65.
Voluntary Distributions. If the value of the Vested part of the Participant's Account, excluding Deductible Contributions, exceeds $3,500 (or at the time of any other distribution, exceeded $3,500), then distribution after the Participant Terminates Service will require the consent of the Participant. If payment in the form of a Qualified Joint and Survivor Annuity is required with respect to the Participant as described in Section 6.3, then the consent of the Participant and the Participant's spouse (or the survivor of either) must be obtained before any distribution if:
Voluntary Distributions. Available cash will be distributed at the discretion of the Company’s Board of Managers (the “Board”), in a ratio (the “Profit Sharing Ratio”) of 50% to the ▇▇▇▇▇▇▇ Member and 50% to the Phoenix Member.
Voluntary Distributions