Distributions Allocations of Profits and Losses. 6.1 DISTRIBUTIONS OF DISTRIBUTABLE CASH. Within twenty (20) days following the end of each month (unless Approval by Partnership Vote is otherwise obtained), the Partnership shall distribute Distributable Cash in the following order of priority:
Distributions Allocations of Profits and Losses. 14 4.1 Distributions and Payments 14 4.1.1 Tax Distributions 14 4.1.2 Discretionary Distributions of Holdings 15 4.1.3 Other Distributions 15 4.1.4 Limitations on Distributions; Special Rules 15 4.1.5 Erroneous Distributions 15 4.1.6 Distributions in Kind 15 4.1.7 Amount Withheld 15 4.1.8 Limitations on Distributions 16 4.2 Allocation of Net Profit and Net Loss 16 4.3 Unvested Units 16 4.4 Other Tax Matters 16 4.5 Imputed Underpayments 17 ARTICLE V UNITHOLDER VOTING AND OBLIGATIONS 17 5.1 Voting Rights 17 5.1.1 Voting Units 17 5.1.2 Approval Required 17 5.2 Meetings of Members 17 5.2.1 Place of Meetings 17 5.2.2 Annual Meeting 17 5.2.3 Special Meetings 18 5.2.4 Notice of Meetings 18 5.2.5 Quorum 18 5.2.6 Adjournment and Notice of Adjourned Meetings 18 5.3 Action Without Meeting 18 5.4 Conduct of Meetings 19 5.5 Confidentiality 19 5.6 Non-Solicitation 19 5.7 Rights to Information 20 ARTICLE VI BOARD OF DIRECTORS 20 6.1 Generally 20 6.2 Number and Election 20 6.3 Voting 21 6.4 Quorum and Transaction of Business 22 6.5 Directors Have No Exclusive Duty to Company 22 6.6 Exculpation of Directors 23 6.7 Expenses 23 ARTICLE VII OFFICERS 23 7.1 Appointment of Officers 23 7.2 Approval of Board of Directors 23 ARTICLE VIII LIABILITY; INDEMNIFICATION 24 8.1 Limited Liability 24 8.2 Indemnification 24 ARTICLE IX ACCOUNTING 26 9.1 Tax Matters Partner and Partnership Representative 26 9.1.1 Current Law 26
Distributions Allocations of Profits and Losses. 15 5.1 Generally........................................................15 5.2 Distributions....................................................15 5.3
Distributions Allocations of Profits and Losses. Section 5.1 Generally
Distributions Allocations of Profits and Losses. 28 Section 4.1 Distributions Generally 28 Section 4.2 Priority of Distributions 28 Section 4.3 Allocation of Profits and Losses 30 Section 4.4 Regulatory and Special Allocations 30 Section 4.5 Tax Allocations 31 Section 4.6 Tax Distributions 32 Section 4.7 Section 754 Election 33 Section 4.8 Indemnification and Reimbursement for Payments on Behalf of a Unitholder 33 Section 4.9 Adjustments to Conversion Price 34 ARTICLE V MANAGEMENT 38 Section 5.1 Authority of Board 38 Section 5.2 Composition of the Board 40 Section 5.3 Board Actions; Meetings; Votes 42 Section 5.4 Delegation of Authority 43 TABLE OF CONTENTS (continued) Section 5.5 Purchase of Units 43 Section 5.6 Limitation of Liability 43
Distributions Allocations of Profits and Losses. 4.1 Generally 4.2 Distributions
Distributions Allocations of Profits and Losses. Distributions of cash or other assets of the Partnership shall be made at such times and in such amounts as the General Partner may determine in accordance with each Partner’s percentage of Interests in the Partnership. Except as otherwise required by the Internal Revenue Code of 1986, as amended, all items of income, gain, loss, deduction and credit as determined for book and federal income tax purposes shall be allocated to the Partners in accordance with each Partner’s percentage of Interests in the Partnership.
Distributions Allocations of Profits and Losses
