Common use of Distribution Rules Clause in Contracts

Distribution Rules. (i) All distributions pursuant to Section 9.1 hereof shall be at such times and in such amounts as shall be determined by the Board. (ii) All amounts withheld pursuant to the Code or any provision of any state or local tax law with respect to any payment, distribution or allocation to the Company or the Unit Holders shall be treated as amounts distributed to the Unit Holders pursuant to this Article IX for all purposes of this Agreement. The Board is authorized to withhold from distributions, or with respect to allocations, to the Unit Holders and to pay over to any federal, state or local government any amounts required to be so withheld pursuant to the Code or any provision of any other federal, state or local law and shall allocate such amounts to those Unit Holders with respect to which such amounts were withheld.

Distribution Rules. (i) All distributions pursuant to Section 9.1 hereof The Management Committee shall be at such times and in distribute such amounts as shall be determined by the Boardit shall, from time to time, deem appropriate. (ii) All amounts withheld pursuant to the Code or any provision of any foreign, state or local tax law or treaty with respect to any payment, distribution or allocation to the Company or the Unit Holders Members shall be treated as amounts distributed to the Unit Holders Members pursuant to this Article IX for all purposes of this Agreement. The Board Management Committee is authorized to withhold from distributions, or with respect to allocations, to the Unit Holders Members and to pay over to any federal, foreign, state or local government any amounts required to be so withheld pursuant to the Code or any provision of any other federal, foreign, state or local law or treaty and shall allocate such amounts to those Unit Holders Members with respect to which such amounts were withheld.