Distribution of Cash Flow. Distributions may be declared from time to time by the Members pursuant to Section 4.2 hereof, provided, however, that the Managing Manager shall automatically cause the Company to distribute, on or before April 15 of each year, the amount required to pay each Member’s estimated federal, state, and local tax liability arising from the profits of the Company, which shall be calculated at forty percent (40%) of the Company’s profits and shall be made in accordance with Actual Unit Ownership except that Distribution in anticipation of a Dissolution Event or subsequent to a Dissolution Event shall be made as provided in Section 10.2 hereof.
Appears in 5 contracts
Samples: Operating Agreement of Kykuit Resources (John D. Oil & Gas Co), Operating Agreement of Kykuit Resources (Energy West Inc), Operating Agreement (John D. Oil & Gas Co)
