Distributions to Owner Sample Clauses

Distributions to Owner. The Foundation shall make distributions to the Owner as follows (SELECT ONE – A, B, or C):
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Distributions to Owner. Contemporaneously with furnishing the monthly statement for each calendar month pursuant to Section 5.3 hereof, PRG shall remit to Owner out of the Operating Accounts the amount (“Owner’s Remittance Amount”) as set forth in the Annual Plan or, in the absence of the Owner’s Remittance Amount being set forth in the Annual Plan, such amount as PRG shall deem advisable with consideration being given to the amount then reasonably required to be maintained in the Operating Accounts (after withdrawal of the Management Fee and other amounts due to PRG hereunder and the amounts required to be deposited to the Reserve Fund) in order to carry on the uninterrupted operation of the Hotel in accordance with the Operating Standard and in order to enable PRG to perform its obligations hereunder. Each remittance shall be paid to Owner at Owner’s address then in effect for receipt of notices hereunder, or at such other place as Owner may, from time to time, designate in a notice to PRG.
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Distributions to Owner. Along with the monthly financial information delivered, Manager shall remit to Owner out of the Operating Account an amount (the “Distribution Amount”) by which the total amount of free and clear funds in the Operating Account as of the end of the preceding calendar month exceeds the sum of (i) the Working Capital Amount, (ii) the current accrued and unpaid Operating Expenses, Fixed Charges and Owner’s Expense (iii) any current accrued and unpaid contributions to the Reserve Fund and the Emergency Fund, and (iv) such additional amounts of working capital as are determined necessary by Manager and approved by Owner, which approval may be granted or withheld in Owner’s discretion exercised in a commercially reasonable manner (such sum being referred to herein as the “Mandatory Balance”). Manager shall not be obligated to disburse the Distribution Amount until such date as the Operating Account contains in the aggregate more than the Mandatory Balance and each succeeding disbursement to Owner of the Distribution Amount shall not occur until such date as the sums contained in the Operating Account again exceed the Mandatory Balance. Each distribution shall be paid (by check, wire transfer or such other method designated by Owner) to Owner at Owner’s address then in effect hereunder for receipt of notices hereunder by Owner or at such other place as Owner may designate in writing to Manager. In the event that Manager distributes more or less than is required in any month, Manager shall correct such over or under payment by adjusting the Distribution Amount for the following month or months, as necessary, and shall notify Owner in writing of any such adjustment. Notwithstanding the foregoing, in the event that any Lender requires a cash management system that is inconsistent with the prevailing cash management agreement, the cash management system required by such Lender shall control, and Manager shall comply in all respects with the cash management system required by such Lender. Any deficits in or negative cash flow at any time or times in any Contract Year shall be borne exclusively by Owner.
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Distributions to Owner. Each week and at the end of each month during the Term, Select shall remit to Owner out of the Operating Accounts by wire transfer the amount (“Owner’s Remittance Amount”) by which the total funds then in the Operating Accounts exceed Thirty Thousand Dollars ($30,000). Each remittance shall be paid to Owner by wire transfer pursuant to written instructions delivered to Select, or to such other account or accounts as Owner may, from time to time, designate in a notice to Select. Notwithstanding the foregoing, if Select reasonably anticipates that circumstances will require the cash balance in the Operating Accounts to exceed $30,000 in order to carry on the uninterrupted operation of the Hotel in accordance with System Standards and enable Select to perform its obligations hereunder, upon Select’s request, Owner shall, at its option (i) permit Select to withhold additional funds or (ii) wire sufficient funds into the Operating Accounts to meet such circumstances and Owner will reasonably cooperate with such request.
Sample 1
Distributions to Owner. Along with the monthly financial information delivered pursuant to Section 7.2, Manager shall remit to Owner out of the Operating Account an amount (the “Distribution Amount”) equal to the Net Operating Income earned in the preceding calendar month; provided however, in no event will Manager be required to make a distribution to Owner to the extent distribution would reduce the balance of the Operating Account below the Working Capital Amount. Each distribution shall be paid (by check, wire transfer or such other method designated by Owner) to Owner at Owner’s address then in effect hereunder for receipt of notices hereunder by Owner or at such other place as Owner may designate in writing to Manager. In the event that Manager distributes more or less than is required under this Section 6.3 in any month, Manager shall correct such over or under payment by adjusting the Distribution Amount for the following month or months, as necessary, and shall notify Owner in writing of any such adjustment. Notwithstanding the foregoing, in the event that any Lender requires a cash management system that is inconsistent with the terms of this Section 6.3 but consistent with the terms of Section 12.2, the cash management system required by such Lender shall control, and Manager shall comply in all respects with the cash management system required by such Lender.
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Distributions to Owner. Owner shall be permitted to withdraw from the Facility operating account any amounts owed to it in accordance with the foregoing priority of distributions. XI. Manager's Designated Representative. In any situation in which, pursuant to the terms of this Agreement, Manager shall be required or permitted to take any action with respect to Owner, give any report or make any request to or of Owner, Manager shall act by and through "Manager's Representative" (as defined below) and Owner shall be permitted to rely on any such approval or action so taken by the Manager's Representative as an approval or action taken by the Manager hereunder. The "Manager's Representative" shall mean and refer to Judy Ullery or such other individual as shxxx xx xxxxgnated by Manager and approved by Owner as provided below. In the event Manager at any time wishes to replace the then current Manager's Representative whichhas been approved by Owner, Manager shall notify Owner in writing of the proposed replacement and provide such information as Owner shall reasonably request regarding the qualifications and experience of said replacement. In the event Owner disapproves of Manager's designated replacement and Owner and Manager are unable to agree on an alternative replacement, Owner shall have the right to terminate this Agreement by written notice to Manager. XII.
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Distributions to Owner. Subject to the working funds requirements of Section 5.03, Manager shall distribute excess funds from the Hotel Accounts to Owner upon Owner's request but no more frequently than monthly.
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Distributions to Owner. Any amount in the Restaurant’s account held by the Manager in excess of (a) the amount of Working Capital required pursuant to Section 6.1 above, (b) the amount of the Management and License Fee payable to Manager and (c) the operating expenses of the Restaurant (including allocations for insurance, marketing and management training), less the amount of any offsets or deductions provided for hereunder, shall be distributed to the Owner within 30 days after the end of each fiscal month. The monthly distributions to the Owner shall constitute prepayments subject to reconciliation based on the Annual Statement for the fiscal year in which such monthly distributions are made, with the payment for the final fiscal month being adjusted as may be necessary.
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Related to Distributions to Owner

  • Distributions to Members Section 9.1

  • Regular Distributions Subject to the rights of the holders of Preferred Units ranking senior to or on parity with the Series H Preferred Units, the holders of Series H Preferred Units shall be entitled to receive on each Distribution Payment Date, out of assets of the Partnership legally available for the payment of the distributions, monthly cumulative cash distributions at the following rates per annum on the $1,000 liquidation preference per Series H Preferred Unit:

  • Distributions to Participants Whenever LC Issuer has in accordance with this section received from any Lender payment of such Lender's Percentage Share of any Matured LC Obligation, if LC Issuer thereafter receives any payment of such Matured LC Obligation or any payment of interest thereon (whether directly from Borrower or by application of LC Collateral or otherwise, and excluding only interest for any period prior to LC Issuer's demand that such Lender make such payment of its Percentage Share), LC Issuer will distribute to such Lender its Percentage Share of the amounts so received by LC Issuer; provided, however, that if any such payment received by LC Issuer must thereafter be returned by LC Issuer, such Lender shall return to LC Issuer the portion thereof which LC Issuer has previously distributed to it.

  • Allocations Distributions Each item of income, gain, loss, deduction and credit of the Company shall be allocated 100% to the Member. Each distribution of cash or other property by the Company shall be made 100% to the Member. Distributions shall be made to the Member at the times and in the amounts determined by the Member.

  • Distributions of Special Payments 25 SECTION 2.5. DESIGNATED REPRESENTATIVES...................................................................... 28 SECTION 2.6. CONTROLLING PARTY............................................................................... 29 ARTICLE III RECEIPT, DISTRIBUTION AND APPLICATION OF AMOUNTS RECEIVED........................................... 31

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

  • Distributions, Etc Upon the dissolution, winding up, liquidation or reorganization of the Tenant, whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Tenant, if any sum shall be paid or any property shall be distributed upon or with respect to any of the Pledged Collateral, such sum shall be paid over to the Secured Parties, to be held as collateral security for the Secured Obligations. If any dividend shall be declared on any of the Pledged Collateral (excluding cash dividends), or any share of beneficial interest or fraction thereof shall be issued pursuant to any split of beneficial interests involving any of the Pledged Collateral, or any distribution of capital shall be made on any of the Pledged Collateral, or any property shall be distributed upon or with respect to the Pledged Collateral pursuant to recapitalization or reclassification of the capital of the Tenant, the shares or other property so distributed shall be delivered to the Secured Parties to be held as collateral security for the Secured Obligations.

  • Other Distributions In case the Company shall fix a record date for the making of a distribution to all holders of shares of its Common Stock of securities, evidences of indebtedness, assets, cash, rights or warrants (excluding Ordinary Cash Dividends, dividends of its Common Stock and other dividends or distributions referred to in Section 13(A)), in each such case, the Exercise Price in effect prior to such record date shall be reduced immediately thereafter to the price determined by multiplying the Exercise Price in effect immediately prior to the reduction by the quotient of (x) the Market Price of the Common Stock on the last trading day preceding the first date on which the Common Stock trades regular way on the principal national securities exchange on which the Common Stock is listed or admitted to trading without the right to receive such distribution, minus the amount of cash and/or the Fair Market Value of the securities, evidences of indebtedness, assets, rights or warrants to be so distributed in respect of one share of Common Stock (such amount and/or Fair Market Value, the “Per Share Fair Market Value”) divided by (y) such Market Price on such date specified in clause (x); such adjustment shall be made successively whenever such a record date is fixed. In such event, the number of Shares issuable upon the exercise of this Warrant shall be increased to the number obtained by dividing (x) the product of (1) the number of Shares issuable upon the exercise of this Warrant before such adjustment, and (2) the Exercise Price in effect immediately prior to the distribution giving rise to this adjustment by (y) the new Exercise Price determined in accordance with the immediately preceding sentence. In the case of adjustment for a cash dividend that is, or is coincident with, a regular quarterly cash dividend, the Per Share Fair Market Value would be reduced by the per share amount of the portion of the cash dividend that would constitute an Ordinary Cash Dividend. In the event that such distribution is not so made, the Exercise Price and the number of Shares issuable upon exercise of this Warrant then in effect shall be readjusted, effective as of the date when the Board of Directors determines not to distribute such shares, evidences of indebtedness, assets, rights, cash or warrants, as the case may be, to the Exercise Price that would then be in effect and the number of Shares that would then be issuable upon exercise of this Warrant if such record date had not been fixed.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Cash Flow Distributions The Cash Flow of the Company, if any, shall be distributed to the Member subject to any limitations on the Company’s ability to make distributions imposed by the Company’s lenders or by applicable law.

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