Distributions of Net Cash from Operations. Net Cash from Operations, if any, for any fiscal year, will be distributed to the Members on not less than an annual basis in an amount sufficient to reduce the Company’s cumulative Net Cash from Operations to $200,000.00, unless otherwise determined by a Super Majority Vote of the Board of Managers and provided that any such distribution does not violate or cause the Company to default under the terms of any of the Company’s credit facilities or debt instruments or violate Section 6.10 of this Operating Agreement. Additional distributions, if any, may be made as the Board of Managers shall determine in its sole discretion. Distributions shall be made to all Members ratably in proportion to their Ownership Percentages.
Distributions of Net Cash from Operations. Distributions of Net Cash from Operations, if any, for any fiscal year, will be made on not less than an annual basis with a minimum of 20% to be distributed so long as the Net Cash from Operations is in excess of $500,000.00 for such year and provided that any such distribution does not violate or cause the Company to default under any the terms of any of the Company’s credit facilities or debt instruments. Additional distributions, if any, may be made as the Board of Managers shall determine in its sole discretion. Distributions shall be made to all Members ratably in proportion to their Ownership Percentages.
Distributions of Net Cash from Operations. Distributions of Net Cash from Operations shall be made for each calendar month of each fiscal year of the Company within thirty (30) days of the end of each such month and shall be paid to the Members in the following manner:
Distributions of Net Cash from Operations. Net Cash From Sales. and Net Cash From Refinancings. Net Cash from Operations, Net Cash from Sales, and Net Cash from Refinancings shall be distributed, at such times as the Manager(s) may determine, to the Members in accordance with the respective Percentage Interests.
Distributions of Net Cash from Operations. Distributions of Net Cash From Operations shall be made in the following order of priority:
Distributions of Net Cash from Operations. Except for a cash reserve determined by the Member, Distributions of Net Cash from Operations for each Fiscal Year shall be made from time to time, but no less frequently than annually, to the Member. Distribution of any net proceeds upon the sale, exchange or other disposition of all or substantially all of the Company Property shall be made in accordance with Article 14.
Distributions of Net Cash from Operations. 6.3 Allocations of Income, Gain, Loss, Deductions, and Credits
Distributions of Net Cash from Operations. (a) For each Fiscal Year, Net Cash from Operations shall be divided among the Partners according to their percent interest. The default distribution frequency will be every quarter. However, the frequency of said distributions shall be decided by Managing Partner and may change based on performance. The amount that will be distributed shall be decided by the managing partner. The general guideline for distribution will be to keep funds in the account in worth of two months operational expenses.
Distributions of Net Cash from Operations. (a) From time to time (but not less often than within 90 days after the end of each calendar year) the Board shall determine the amount of Net Cash From Operations available for distributions to the Members. In making such determinations, the Board shall take into account reasonably anticipated needs of the business of the Company (including, without limitation, establishment of and additions to reserve accounts for obligations of the Company, for future capital expenditures by the Company and for any other purpose deemed by the Managers to be in the best interest of the Company). Any distributions to the Members must be approved by the affirmative vote of all Managers. Notwithstanding the foregoing, Net Cash From Operations will first be used to repay loans and advances from IMI or its Affiliates, which loans were made to fund startup expenses, including acquisition of tooling, labor costs and factory space to commence manufacture of the Products. The Members intend that approximately 50% of Net Cash From Operations will be retained by the Company and be reinvested in the Company business and the balance will be distributed to the Members.
Distributions of Net Cash from Operations as so determined by the Board shall be distributed among the Members in proportion to their Percentage Interests.
