Distributions of Distributable Cash. Except as otherwise provided in Article VII hereof, Distributable Cash for each Fiscal Year may be distributed to the Holders at such times, if any, and in such amounts as shall be determined in the sole discretion of the Trustees. In exercising such discretion, the Trustees shall distribute such Distributable Cash so that Holders that are regulated investment companies can comply with the distribution requirements set forth in Code Section 852 and avoid the excise tax imposed by Code Section 4982.
Distributions of Distributable Cash. Within 40 days following the end of each Quarter commencing with the Quarter that includes the IPO Date, the Partnership shall distribute to the Partners pro rata in accordance with their respective Percentage Interests an amount equal to 100% of Distributable Cash. Notwithstanding any other provision of this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Delaware Act or other Applicable Law.
Distributions of Distributable Cash. Except as otherwise provided in this Section 6.1 or Sections 6.2 and 6.3, the Partnership shall distribute the Distributable Cash with respect to a Quarter within 45 days following the end of each Quarter commencing with the Quarter that includes the Effective Date as follows:
(a) First, to the Partners in proportion to, and to the extent of, an amount equal to the excess, if any, of (i) the cumulative amount of the Excess Capital Priority Return, if any, accrued during the period from and including the Effective Date to but excluding the last day of such Quarter, over (ii) the cumulative amount of Distributable Cash previously distributed to such Partner pursuant to this Section 6.1(a); and
(b) Second, to the Partners pro rata in accordance with their respective Percentage Equity Interests. The General Partner may also cause the Partnership to distribute cash to the Partners at such other times and in such amounts as it determines in its sole discretion so long as (i) the amount distributed does not exceed the then Distributable Cash of the Partnership determined as if the date of such distribution were the end of a Quarter and (ii) such cash is distributed in accordance with Section 6.1(b). Notwithstanding any other provision of this Agreement, the Partnership shall not make a distribution or redemption payment to the Partners on account of their interests in the Partnership if such distribution or redemption payment would violate the Act or other Applicable Law.
Distributions of Distributable Cash. Each distribution of Distributable Cash shall be made to the Members as follows:
(A) first, sixty percent to the Initial Member and forty percent to the Private Owner, until the time at which the First Incentive Threshold Event occurs; and
(B) thereafter, sixty-five percent to the Initial Member and thirty-five percent to the Private Owner, until the time at which the Second Incentive Threshold Event occurs; and
(C) thereafter, seventy percent to the Initial Member and thirty percent to the Private Owner. For the avoidance of doubt, distributions to the Members occurring on the Distribution Date on which any of the First Incentive Threshold Event or the Second Incentive Threshold Event occurs shall, (x) with respect to all distributions up to the amount required for reaching such First Incentive Threshold Event or Second Incentive Threshold Event, as applicable, be allocated without regard to the occurrence of such First Incentive Threshold Event or Second Incentive Threshold Event, as applicable, and (y) with respect to all remaining distributions on such Distribution Date, be allocated taking into account the occurrence of such First Incentive Threshold Event or Second Incentive Threshold Event, as applicable.
Distributions of Distributable Cash. Each distribution of Distributable Cash will be made to the Members as follows: 95.0% to the Initial Member and 5.0% to the Private Owner.
Distributions of Distributable Cash. Each distribution of Distributable Cash shall be made to the Members as follows:
(A) first, sixty percent (60%) to the Initial Member and forty percent (40%) to the Private Owner, until the time at which the Incentive Threshold Event occurs; and
(B) thereafter, seventy percent (70%) to the Initial Member and thirty percent (30%) to the Private Owner. For the avoidance of doubt, distributions to the Members occurring on the Distribution Date on which the Incentive Threshold Event occurs shall, (x) with respect to all distributions up to the amount required for reaching such Incentive Threshold Event, be allocated without regard to the occurrence of such Incentive Threshold Event, and (y) with respect to all remaining distributions on such Distribution Date, be allocated taking into account the occurrence of such Incentive Threshold Event.
Distributions of Distributable Cash. Except as provided in Sections 4.4 and 4.5, all distributions of Distributable Cash shall be made to the Members in the following order of priority:
(a) First, to Members holding Convertible Preferred Units, in proportion to, and up to amounts equal to, the Unpaid Preferred Returns of each such Member, if any;
(b) Second, to Members holding Convertible Preferred Units in proportion to, and up to amounts equal to, the Unpaid Preferred Contributions of each such Member, if any;
(c) Third, to the Members holding Common Units and/or Profits Interest Units, in proportion to, and up to amounts equal to, the positive Capital Account balances of each such Member; and
(d) Thereafter, to the Members holding Common Units and/or Profits Interest Units, in proportion to the respective number of such Units held by each such Member.2
Distributions of Distributable Cash. A. Distributions shall be made to Members only after the Company and its Subsidiaries have paid all Company Costs then due and payable, paid all Member Loans made to the Company by the Class A Member pursuant to Section 3.2, and paid all amounts then due under any Mortgage Loans. Distributions of Distributable Cash to the Class A Member which has accrued during each calendar month shall be made on the next succeeding Distribution Date and at such other times as the Class A Member shall determine as a Major Decision. Distributions of Distributable Cash to the Class B Member pertaining to any calendar period shall be distributed periodically at times determined by the Manager in its sole discretion, but not more frequently than once during any calendar quarter. Distributions of Capital Proceeds shall be made promptly after the Company receives such Capital Proceeds, but in any event within fifteen (15) days of such receipt, subject to any reserve requirement, holdback or other contractual or governmental obligation of the Company.
B. All distributions of Distributable Cash and Capital Proceeds shall be made in the order of priority shown in subsections C, D, E and F below.
C. To the extent no Changeover Event or Distribution Suspension Event has occurred, all Distributable Cash distributed prior to the Redemption Date shall be distributed as follows:
(i) First, to the Class A Member, until the Class A Member has been paid in full an amount equal to the then accrued and unpaid Enhanced Class A Return on the amount of any additional Capital Contributions made pursuant to Section 3.2;
(ii) Second, to the Class A Member, until the Class A Member has been paid in full an amount equal to any then unreturned additional Capital Contributions made pursuant to Section 3.2;
(iii) Third, to the Class A Member until the Class A Member has been paid in full an amount equal to all then accrued but unpaid Class A Return on the amount of all Capital Contributions it has made pursuant to Section 3.1;
(iv) Fourth, any amount of Distributable Cash which remains after distributions pursuant to clauses (i) – (iii) above shall be distributed to the Class B Member.
D. All Capital Proceeds derived from an Interim Capital Transaction shall, provided that no Changeover Event shall then be in effect, be distributed as follows:
(i) First, to the Class A Member, until the Class A Member has been paid in full an amount equal to the then accrued and unpaid Enhanced Class A Return on the am...
Distributions of Distributable Cash. Subject to the provisions of Article XI above, all Distributable Cash shall be distributed to the Members on a periodic basis but not less frequently than quarterly in the following amounts and in the following order of priority:
(a) To the Members, as an advance on distributions, if any, described in clauses (b) through (i) of this Section 12.01, until each Member has received an amount of Distributable Cash that is equal to (i) forty percent (40%) of the amount of net taxable income (other than long term capital gains) allocated to such Member for the previous taxable year of Member Newco and (ii) twenty percent (20%) of any long term capital gains allocated to such Member for the previous taxable year of Member Newco (such distribution to the Members for a given period being collectively referred to herein as the "Tax Distribution"). [For purposes of this Agreement, there shall be no Tax Distribution for Member Newco's 2005 taxable year and Tax Distribution shall commence with Member Newco's 2006 taxable year and the first of such Tax Distributions shall equal forty percent (40%) of the amount of net taxable income allocated to such for Member Newco's 2005 taxable year but only for the period from the date of this Agreement to the end of Member Newco's 2005 taxable year and allocations of net taxable income of Member Newco that relate to the period from January 1, 2005 to the date of this Agreement shall be disregarded hereunder];
(b) The balance, if any, to the respective Members, in proportion to each Member's pro rata share of the accrued and unpaid Interest/Return on the aggregate unreturned Mandatory Contributions of all of the Members, to the extent of any accrued and unpaid Interest/Return on unreturned Mandatory Contributions;
(c) The balance, if any, to the respective Members, in proportion to each Member's pro rata share of the aggregate unreturned Mandatory Contributions of all of the Members, to the extent of any unreturned Mandatory Contributions;
(d) The balance, if any, to the respective Members, in proportion to each Member's pro rata share of the accrued and unpaid Interest/Return on the aggregate unreturned Non-Required Contributions of all of the Members, to the extent of any accrued and unpaid Interest/Return on unreturned Non-Required Contributions;
(e) The balance, if any, to the respective Members, in proportion to each Member's pro rata share of the aggregate unreturned Non-Required Contributions of all of the Members, to the ext...
Distributions of Distributable Cash. The Company shall make distributions of Distributable Cash to the Members from time to time in the discretion of the Management Committee, which distributions shall be made to the Members in accordance with their respective Percentage Interests.
