Quarterly Distribution Amount means, subject to Section 5.01(c), (i) with respect to each of the first, second and third quarters of any fiscal year, an amount of cash estimated in good faith by the Managing General Partner to be equal to 50.00% of Price LP's share of any Profit for such fiscal quarter which would be allocated to Price LP's Capital Account pursuant to Sections 4.01(b) and 4.03 if such allocation were made on a quarterly basis, and (ii) with respect to the fourth quarter of any fiscal year, an amount of cash equal to (A) if the Price Profit Allocation for such fiscal year is less than the Threshold Profit Allocation for such fiscal year, an amount of cash equal to (x) the Price Profit Allocation minus (y) the sum of the Quarterly Distribution Amounts for the first, second and third quarters of such fiscal year, or (B) if the Price Profit Allocation for such fiscal year is greater than or equal to the Threshold Profit Allocation for such fiscal year, an amount of cash equal to (x) the Threshold Profit Allocation minus (y) the sum of the Quarterly Distribution Amounts for the first, second and third quarters of such fiscal year."
Quarterly Distribution Amount has the meaning set forth in Section 4.1(b).
Quarterly Distribution Amount has the meaning given to such term in the Partnership Agreement.
Examples of Quarterly Distribution Amount in a sentence
Holders of Preferred Units will be entitled to receive, when and as declared by the General Partner, quarterly cash distributions in an amount per Preferred Unit equal to the Quarterly Distribution Amount in effect as of the date such distribution is declared by the General Partner, and no more.
If the Preferred Units are issued other than on a record date for the payment of distributions to the holders of Preferred Units, the Quarterly Distribution Amount shall, for any quarter in which the Distribution Rate changes on any Reset Date, be appropriately prorated based on the portions of such quarter during which the different Distribution Rates were in effect, on the basis of twelve 30-day months and a 360-day year.
In connection with the requirements of any securities exchange on which the Units are listed or market system through which Units are traded, the Trustee will, if required by such securities exchange or market system, use all reasonable efforts to determine the Quarterly Distribution Amount and report such amount to the exchange or market system at such time as may be required by such securities exchange or market system.
In furtherance of the foregoing, all additions to the Preference Accrual resulting from such Distribution being less than the Quarterly Distribution Amount shall be deemed made automatically and without any further action by the Partnership, the General Partner, or any other Person and therefore shall become part of the Preference Accrual.
The Quarterly Distribution Amount for each quarter will be payable to Unitholders of record on the 60th day following the end of such calendar quarter unless such day is not a business day in which case the record date is the next business day thereafter.
More Definitions of Quarterly Distribution Amount
Quarterly Distribution Amount means for each Quarter an amount determined by the Trustee (pursuant to Section 5.2 hereof) to be equal to the excess, if any, of (a) the cash received by the Trustee during the Quarter attributable to the Royalties, plus any cash available for distribution as a result of the reduction or elimination during the Quarter of any existing cash reserve created pursuant to Section 3.8 hereof to provide for the payment of liabilities of the Trust, plus any other cash receipts of the Trust during the Quarter including without limitation any cash received from interest earned pursuant to Section 3.4 or pursuant to sales of the interests in the Royalty or other assets of the Trust, other than interest earned on deposits of the Quarterly Distribution Amount for any prior Quarter pending distribution of such amount, over (b) the liabilities of the Trust paid during the Quarter, plus the amount of any cash used pursuant to Section 3.8 hereof in the Quarter to establish or increase a cash reserve for the payment of any accrued, future or contingent liabilities of the Trust. If the Quarterly Distribution Amount determined in accordance with the preceding sentence shall for any Quarter be a negative amount, then the Quarterly Distribution Amount shall be zero, and such negative amount shall reduce the next Quarterly Distribution Amount.
Quarterly Distribution Amount as of any date, shall be equal to (i) the Distribution Rate then in effect, multiplied by (ii) $25, and divided by (iii) four. Holders of Preferred Units will be entitled to receive, when and as declared by the General Partner, quarterly cash distributions in an amount per Preferred Unit equal to the Quarterly Distribution Amount in effect as of the date such distribution is declared by the General Partner, and no more. On each Reset Date, the Distribution Rate thereafter in effect shall be adjusted by the General Partner to equal the lesser of (i) the Distribution Rate in effect immediately prior to such Reset Date or (ii) the Dividend Yield of the class of Qualifying Preferred Stock most recently issued by the Previous General Partner or, if there is no class of Qualifying Preferred Stock of the Previous General Partner outstanding as of any Reset Date, the Weighted Average of Preferred Stock Dividend Yields, calculated as of the end of the calendar quarter immediately preceding such Reset Date; provided, further, that if for any reason there are no classes of Qualifying Preferred Stock of the type described in the definition of "Weighted Average of Preferred Stock Dividend Yields" outstanding on any Reset Date and the reference to the Weighted Average of Preferred Stock Dividend Yields would otherwise be determinative of the calculation of the adjusted Distribution Rate on such Reset Date, the adjusted Distribution Rate for the succeeding five (5) year period shall be the Distribution Rate in effect immediately prior to such Reset Date. Upon any such adjustment of the Distribution Rate, the General Partner shall send a notice describing such adjustment to the holders of the Preferred Units at their respective addresses, as set forth on Exhibit A to the Agreement.
Quarterly Distribution Amount means, for each Fiscal Quarter, W&T LLC's EBITDA minus W&T LLC's capital expenditures for such Fiscal Quarter. In addition to the foregoing Borrower may declare and pay to any Persons dividends payable only in its common stock.
Quarterly Distribution Amount means with respect to each Senior Preferred Unit or PIK Unit (i) with respect to the distribution of cash, the Purchase Price (or, with respect to any PIK Unit, the PIK Unit Value) multiplied by the Distribution Rate in effect for such Quarterly Distribution Date divided by four (4), and (ii) with respect to the distribution of a PIK Unit, the number of PIK Units determined as the quotient of (a) the Purchase Price (or, with respect to any PIK Unit, the PIK Unit Value) multiplied by the Distribution Rate in effect for such Quarterly Distribution Date plus the PIK Penalty Rate in effect for such Quarterly Distribution Date divided by (b) four (4). For purposes of this definition, for any Quarterly Distribution that includes the distribution of both cash and PIK Units, the terms “Purchase Price” and “PIK Unit Value” above shall refer to only that portion of the Purchase Price or PIK Unit Value, as applicable, with respect to which cash or PIK Units is distributed.
Quarterly Distribution Amount has the meaning given to such term in Section 7.6.
Quarterly Distribution Amount means for each Quarterly Period an amount determined by Senior Management to be equal to the excess, if any, of (a) the cash received during the Monthly Computation Period attributable to the carried interest holder, plus any other cash receipts of the Company during the Monthly Period including any cash received from interest earned on deposits of the Monthly Distribution Amount for any prior Monthly Period pending distribution of such amount, over (b) the liabilities of the Trust paid during the Monthly Period, plus the amount of any cash used to establish or increase a cash reserve for the payment of any accrued tax attributed to the carried interest holder. If any Monthly Distribution Amount determined in accordance this the Net Profits interest calculation shall for any Monthly Period be a negative amount, then the Monthly Distribution Amount shall be zero, and such negative amount shall reduce the next Monthly Distribution Amount.
Quarterly Distribution Amount means, for each Quarterly Period, an amount determined by the Trustee pursuant to Section 5.02 hereof to be equal to the excess, if any, of (a) the cash received by the Trust, attributable to the Royalty Interests and the Hedge Agreements during such Quarterly Period, provided that such cash is received by the Trust on or before the 10th calendar day of the third month following the end of the Quarterly Period, plus any decrease during such Quarterly Period in any cash reserve theretofore established by the Trustee for the payment of liabilities of the Trust, plus any other cash receipts of the Trust during such Quarterly Period (including Sales Proceeds Amounts), plus an amount equal to interest estimated by the Trustee to be earned on cash reserves invested pursuant to Section 3.04 to the respective Quarterly Payment Date (which estimated amount when actually earned shall not be included in the Quarterly Distribution Amount in respect of any other Quarterly Period) over (b) the liabilities of the Trust paid during such Quarterly Period, plus the amount of any cash used during such Quarterly Period by the Trustee to establish or increase a cash reserve established for the payment of any liabilities of the Trust.