DISTRIBUTION CALCULATION Sample Clauses

DISTRIBUTION CALCULATION. For purposes of determining funds lawfully available for any dividends or other distribution upon shares of stock, amounts needed to satisfy the rights of shareholders upon dissolution who have preferential rights superior to those of shareholders of the stock receiving such dividend or distribution shall not be deducted from the Corporation's total assets.
Sample 1
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DISTRIBUTION CALCULATION. Section 3.1(c) of the Operating Agreement provides that Golden shall pay the withdrawing Member the amount equal to the withdrawing Member's Interest times the book value of Golden as of the effective date of withdrawal. At July 1, 2001, the Member Interest of Gold Xxxx was Twenty-Four and Nine Hundred Fifty Eight One Thousands percent (24.95886%). According to the unaudited balance sheet of Golden for its fiscal year ended June 30, 2001, a copy of which has been provided to Gold Xxxx (the "6/30/01 Unaudited Balance Sheet"), the book value was Ninety Seven Million One Hundred Forty-Four Thousand Eight Hundred and Ninety-Two Dollars ($97,144,892). Accordingly, pursuant to the 6/30/01 Unaudited Balance Sheet, Gold Xxxx would be entitled to Twenty Four Million Two Hundred Forty-Six Thousand Two Hundred and Fifty-Eight Dollars ($24,246,258) as a withdrawing distribution as of July 1, 2001 (the "Unaudited Distribution"). Simultaneous with the execution of this Agreement, Golden shall pay Gold Xxxx the Unaudited Distribution in immediately available funds. The parties acknowledge that Golden expects to receive an audited balance sheet as of June 30, 2001 (the "6/30/01 Audited Balance Sheet") in September, 2001. Promptly upon receipt, Golden shall deliver a copy of the 6/30/01 Audited Balance Sheet to Gold Xxxx along with the calculation of the amount due Gold Xxxx pursuant to Section 3.1(c) of the Operating Agreement and the 6/30/01 Audited Balance Sheet (the "Audited Distribution"). If the Audited Distribution exceeds the Unaudited Distribution, Golden shall promptly pay Gold Xxxx such excess. If the Unaudited Distribution exceeds the Audited Distribution, Gold Xxxx shall promptly pay Golden such excess.
Sample 1

Related to DISTRIBUTION CALCULATION

  • Determination Date Calculations; Application of Available Funds (a) On each Determination Date, the Servicer shall calculate the following amounts:

  • Distribution of Excess Contributions If the Advisory Committee determines the Plan fails to satisfy the ADP test for a Plan Year, it must distribute the excess contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess contributions are the amount of deferral contributions made by the Highly Compensated Employees which causes the Plan to fail to satisfy the ADP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess contributions. The Advisory Committee will determine the respective shares of excess contributions by starting with the Highly Compensated Employee(s) who has the greatest ADP, reducing his ADP (but not below the next highest ADP), then, if necessary, reducing the ADP of the Highly Compensated Employee(s) at the next highest ADP level (including the ADP of the Highly Compensated Employee(s) whose ADP the Advisory Committee already has reduced), and continuing in this manner until the average ADP for the Highly Compensated Group satisfies the ADP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess contributions assigned to the family unit.

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Distribution Limitation Notwithstanding any other provision in this Article 5, the General Partner shall have the power, in its reasonable discretion, to adjust the distributions to the Special Limited Partner to the extent necessary to avoid violations of the “2%/25% Guidelines” as described in the Advisory Agreement.

  • Yield Calculation The Bank will compute the performance results of the Fund (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), subject to the terms set forth below:

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • Interest Calculations Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note Register”).

  • Actual Settlement Date Accounting With respect to any sale or purchase transaction that is not posted to the Account on the contractual settlement date as referred to in Section 2.5, Bank shall post the transaction on the date on which the cash or Financial Assets received as consideration for the transaction is actually received by Bank.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

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