Distribution Formula definition
Examples of Distribution Formula in a sentence
Subject to Partnership Expenses, Reserves, Permitted Investments, and Held Amounts, all funds received by the Partnership under Article 3 will be distributed among the Limited Partners in accordance with the Distribution Formula and in accordance with the Partnership Agreement.
In updating from time to time the Distribution Formula, the PTOs or the Partnership, as applicable, will ensure that the Distribution Formula is fair and equitable to all Eligible First Nations.
CCC and NCC shall share all costs arising from such Pre- Existing Partnering Agreements in accordance with the CCC/NCC Distribution Formula (Schedule 6).
The Distribution Formula may be amended, revised or updated from time to time by the PTOs with ratification by the Limited Partners by Special Resolution pursuant to the Partnership Agreement, or by the Partnership by an Extraordinary Resolution of the Limited Partners pursuant to the Partnership Agreement.
For example, the Distribution Formula will be applied in a manner that does not create a disincentive to two or more Eligible First Nations aggregating, forming centralized governance structures or otherwise combining or consolidating governance into a single legal entity.