Distribution Policies. Upon admission to the Partnership, each Limited Partner will be required to make a one-time, irrevocable election, except as described below, either: (i) to receive monthly, quarterly or annual cash distributions of Earnings ("Periodic Cash Distributions"); or (ii) to receive distributions of Earnings in the form of additional Units. The term "Earnings" means all revenues earned by the Partnership less all expenses incurred by the Partnership. This election, once made is irrevocable for investors who elect to receive Periodic Cash Distributions. However, an investor may change whether such distributions are received on a monthly, quarterly or annual basis. If a Limited Partner initially elected to receive additional Units in lieu of Periodic Cash Distributions, he may, after three (3) years, change his election and receive Periodic Cash Distributions. Earnings from investors who elect to acquire additional Units will be used by the Partnership for making further Mortgage Investments or other proper Partnership purposes. The Earnings from these further Mortgage Investments, will be allocated among all investors, but investors who do not elect to receive Periodic Cash Distributions will receive additional Units. (See "PLAN OF DISTRIBUTION - Election to Receive Periodic Cash Distributions"). All cash flow attributable to principal reductions of Mortgage Investments will be reinvested by the Partnership in Partnership activities by the extension of additional Mortgage Investments until December 31, 2032. By not later than such date, all cash flow attributable to principal reduction will be distributed to the Limited Partners as a return of capital contributions. Upon acceptance into the Partnership, each Partner who acquires his Units through a Participating Broker Dealer will receive a capital account in the Partnership which initially will be equal to the purchase price of the Units. A Partner who acquires a Unit directly from the Partnership in an unsolicited sale will receive a capital account in the Partnership which initially will be equal to the purchase price of Units plus an amount equal to the amount of sales commissions that would otherwise have been payable had the Partner acquired his Unit through a Participating Broker Dealer assuming no Continuing Servicing Fee is paid. Capital accounts can be described simply as the "net equity" of Partners in the Partnership. The capital accounts of the Limited Partner are, under the applicable tax code provis...
Distribution Policies. Distributor confirms that it will, except as otherwise specified in this Agreement, follow Manufacturer’s general distribution policies (the “Distribution Policies”) as now in effect and as reasonably amended for application to Manufacturer’s distributors generally upon reasonable written notice to Distributor (see Schedule 2D for the Distribution Policies as in effect on the date hereof).
Distribution Policies. The Shareholders shall decide the amounts and timing of any distributions of profits of Laverda and Fella provided that such distributions shall be made in accordance with applicable law. The Shareholders agree that all profits of Laverda and Fella shall be distributable by way of payment of dividends to the Shareholders and shall be paid annually to the Shareholders, unless otherwise agreed in writing by the Shareholders.
Distribution Policies. The distribution policies of the Partnership is set forth in Appendix L attached hereto.
