Excess Distributions definition

Excess Distributions shall have the meaning specified in Section 5.02(b).

Excess Distributions means distributions to a Limited Partner for all periods in excess of allocations of Net Income to the Limited Partner for all periods pursuant to Sections 6.1B(2), (3) and (4) .

Excess Distributions means, with respect to CEGPS, an amount equal to the product of (a) two (2) times (b) the cumulative distributions received by CEGPS pursuant to Section 7.01(b) in excess of its Baseline Ownership Percentage of the aggregate distributions made to the Members pursuant to Section 7.01(b).

Examples of Excess Distributions in a sentence

• Once paid to the Residual Income Beneficiary, the Issuer may not recover any Excess Distributions from the Residual Income Beneficiary other than in the circumstances specified in clause 5.3 of the Supplementary Terms Notice.

• All Excess Distributions received by Affiliated Persons shall be re-contributed pursuant to section 3.5.1 on a pro rata basis, based on the total amount of Excess Distributions each Affiliated Person has received.

• The Trustee may not recover any Excess Distributions from the Residual Income Beneficiary once they are paid to the Residual Income Beneficiary except where there has been a manifest error in the relevant calculation of the Excess Distributions.

• If, upon the liquidation and dissolution of the Company, any Final Holder has received an Investor IRR of less than seven percent (7%), then each Affiliated Person who has received an Excess Distribution shall re-contribute to the Company such Excess Distributions and such Excess Distributions shall be distributed to such Final Holders until each Final Holder has received an Investor IRR of seven percent (7%).

• In the event that any Excess Distributions have not been repaid by an Overfunded Member at the time of any dissolution or liquidation of the Company pursuant to Article Eight, then the Overfunded Member shall be required to repay to the Company any remaining Excess Distributions due to the Company within five (5) Business Days of the determination of the amounts due from such Overfunded Member pursuant to Article Eight.

More Definitions of Excess Distributions

Excess Distributions shall have the meaning set forth in Section 9.4(b).

Excess Distributions means, with respect to CEGPS, an amount equal to the product of (a) two (2) times (b) the cumulative distributions received by CEGPS pursuant to Section 7.01(b) in excess of its Baseline Ownership Percentage of the aggregate distributions made to the Members pursuant to

Excess Distributions means, with respect to any fiscal year of the Company, the portion of the aggregate amount of Distributions made by the Company during such fiscal year that exceeds the Net Income of the Company for such fiscal year.

Excess Distributions means the excess, if any, of (a) the cumulative distributions of Net Cash Flow and Net Proceeds received or deemed received by the Manager over the life of the Company under Section 6.1(a)(iii)(b) (or Section 6.1(b)(v)(b), as applicable) over (b) the Target Carried Interest.

Excess Distributions means “non-ordinary course distributions” as such term is defined in IRS Notice 2014-52 or as such term (or its equivalent) is defined in any subsequent proposed, temporary or final U.S. Treasury Regulations.

Excess Distributions means, as of any date and with respect to any Management Unit owned by a Management Partner, (i) the aggregate amount of distributions paid to such Management Partner pursuant to Section 5.3 as of such date, minus the aggregate amount of all reductions in distributions pursuant to Sections 5.1 and 5.2 as a result of Section 5.3(b) as of such date, divided by (ii) the aggregate amount of Management Units owned by such Management Partner as of such date.

Excess Distributions means the excess of cash or property distributions by the Company to a Stockholder over the federal and state income taxes paid (less amounts refunded or credited to such Stockholder) by the Stockholder with respect to the taxable income of the Company for all periods during which the Company has been an S corporation, including the S Short Year.