Examples of Tax Distributions in a sentence
Any Tax Distributions made pursuant to this Section 5.4 shall be treated as being made pursuant to Section 5.1 depending on the source of the income that generated such taxable income and shall be treated as advances of amounts distributed to the Members pursuant to Section 5.1 of this Agreement.
For the avoidance of doubt, a Distribution shall only be deemed to be a Tax Distribution if and to the extent the amount of such Distribution is less than or equal to the Estimated Tax Liability for the applicable Fiscal Quarter, after giving effect to all prior Tax Distributions made with respect to the applicable Fiscal Quarter.
In determining the amount of any Member's Tax Distributions, appropriate adjustments shall be made to account for any federal, state or local tax withholding payments that have been made, or are expected to be made, by the Company with respect to such Member's share of the Company's taxable income for such Year.
To the extent a Member otherwise would be entitled to receive less than its Percentage Interest of the aggregate Supplemental Tax Distributions to be paid pursuant to this Section 4.01(b)(ii) on any given date, the Supplemental Tax Distributions to such Member shall be increased to ensure that all distributions made pursuant to this Section 4.01(b)(ii) are made pro rata in accordance with the Members’ respective Percentage Interests.
For this purpose, Distributions shall include Tax Distributions made pursuant to Section 4.2 only (A) to the extent such Tax Distributions are made as a result of the recognition of the built-in gain in any asset that existed at the time the relevant Class C Unit was issued or (B) to the extent that the relevant Class C Unit is not also entitled to a Tax Distribution with respect to the item or tier of taxable income giving rise to the Tax Distribution.