Distributions of Property. Solely for the purpose of adjusting the Capital Accounts of the Members, and not for tax purposes, if any property is distributed in kind to any Member, the difference between its fair market value (as determined in the reasonable judgment of the Managing Member) and its book value at the time of distribution shall be treated as gain or loss recognized by the Company and allocated pursuant to the provisions of Section 1.3 of this Exhibit.
Distributions of Property. In the event that property is distributed by the Trust to a Shareholder, the following special rules shall apply:
Distributions of Property. To the extent that a Member is entitled to a distribution of assets from the Company or to a return of the Member's Capital Contributions, the Member shall have only the right to demand and receive cash in satisfaction thereof.
Distributions of Property. No Partner may demand or receive property other than cash in return for its contributions, loans or advances or upon dissolution as provided herein, except upon the written approval of both General Partners.
Distributions of Property. If, at any time while this Warrant is outstanding and unexpired, the Company shall pay a dividend or other distribution on all Common Stock consisting of evidences of its indebtedness or assets (excluding any dividend or distribution paid in cash, or any dividend or distribution described in Sections 4.2, 4.3 or 4.4 of this Warrant), the Exercise Price shall be decreased by multiplying the then current Exercise Price by a fraction, the numerator of which shall be the current market price (determined as provided in Section 2.2) of a share of Common Stock on the date fixed for the determination of stockholders entitled to receive such dividend or distribution less the fair market value (as determined by the Board of Directors of Company, whose determination shall be final) of the portion of indebtedness or
Distributions of Property. 33 8.5. Action During Liquidation; Statements of Account.............................................................................. 34
Distributions of Property. Except as otherwise provided in Section 13, the Manager may cause the Company to distribute Property to the Members in lieu of Distributable Cash from Operations provided that the value of the Property shall be adjusted to reflect its Book Value.
Distributions of Property. A. Upon liquidation, the Members may demand or receive property other than cash in return for their respective contributions, loans or advances or upon dissolution as provided herein, but only upon the written approval of the Management Committee.
Distributions of Property. In the event that the Company makes a distribution of its property to the holders of Common Stock as a dividend in liquidation or partial liquidation or by way of return of capital or other than as a dividend payable out of funds legally available for dividends under the laws of the State of Delaware, the holders of 1999 Subordinated Notes Preferred Stock shall, upon conversion thereof, be entitled to receive, in addition to the number of shares of Common Stock receivable thereupon, and without payment of any consideration therefor, a sum equal to the amount of such property as would have been payable to them as owners of that number of shares of Common Stock receivable upon such conversion, had they been the holders of record of such Common Stock on the record date for such distribution; and an appropriate provision therefor shall be made a part of any such distribution; provided, however, this adjustment shall exclude any such distributions to the extent a substantially similar distribution is made to the holders of the 1999 Subordinated Notes.
Distributions of Property. If any property, other than money, is distributed to a Member, the Capital Accounts of the Members shall be adjusted to reflect the manner in which the unrealized items of Profit and Loss inherent in the distributed property (that has not been reflected previously in the Capital Accounts) would be allocated among the Members if there was a taxable disposition of the distributed property for the fair market value of the property on the date of the distribution taking into account section 7701(g) of the Code. For this purpose, the fair market value of the distributed property shall be determined under Section 5.3.
