{"component": "clause", "props": {"groups": [{"snippet": "The Trustee shall make an initial distribution (the \u201cInitial Distribution\u201d) from the Trust Property Then Available For Distribution as follows:\n(I) First, an amount equal to 88% of the Initial Funding shall be distributed in the proportions described in Schedule 1 to the Beneficiaries listed therein, for the purposes described in Paragraph XII of the Environmental Claims Settlement Agreement.\n(II) Second, an amount equal to 12% of the Initial Funding less the Interest Adjustment (as defined below), if a negative number, shall be distributed in the proportions described in Schedule 1 to the Beneficiaries listed therein, for the purposes described in Paragraph XII of the Environmental Claims Settlement Agreement.\n(III) Third, if the Interest Adjustment is negative, an amount equal to the Interest Adjustment shall be distributed to the Tort Claims Trust as part of the Initial Distribution for payment to the Holders of Tort Claims in accordance with the Tort Claims Trust Agreement and the Tort Claims Trust Distribution Procedures.\n(IV) The Interest Adjustment shall be (x) the amount of interest that would have accrued at an annual percentage rate of interest of 25% on a principal amount of 12% of the Initial Funding, compounded annually beginning on the Effective Date and ending on the date of the Initial Distribution, less (y) $1,750,000.", "snippet_links": [{"key": "trustee-shall", "type": "definition", "offset": [4, 17]}, {"key": "trust-property-then-available-for-distribution", "type": "definition", "offset": [85, 131]}, {"key": "equal-to", "type": "definition", "offset": [165, 173]}, {"key": "initial-funding", "type": "clause", "offset": [185, 200]}, {"key": "schedule-1", "type": "definition", "offset": [254, 264]}, {"key": "the-beneficiaries", "type": "clause", "offset": [268, 285]}, {"key": "for-the-purposes", "type": "clause", "offset": [302, 318]}, {"key": "paragraph-xii", "type": "clause", 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contingent on receipt from the School of a list of enrolled students, to include a student's name, parent/guardian name, address, telephone number and age.", "snippet_links": [{"key": "distribution-of-funds", "type": "clause", "offset": [10, 31]}, {"key": "to-the-school", "type": "clause", "offset": [32, 45]}, {"key": "a-list", "type": "definition", "offset": [117, 123]}, {"key": "enrolled-students", "type": "definition", "offset": [127, 144]}, {"key": "a-student", "type": "definition", "offset": [157, 166]}, {"key": "telephone-number", "type": "clause", "offset": [206, 222]}], "size": 2, "samples": [{"hash": "69F9cTdYwmE", "uri": "/contracts/69F9cTdYwmE#initial-distribution", "label": "Charter School Contract", "score": 33.1758433714, "published": true}, {"hash": "7p9FgYHc4Hf", "uri": "/contracts/7p9FgYHc4Hf#initial-distribution", "label": "Charter School Contract", "score": 32.3574878842, "published": true}], "hash": "d41848c1b65c0b814d5510c8ad3adbc7", "id": 10}, {"snippet": "Upon a Change in Control, the Trustee shall make a distribution to the Employee equal to all amounts allocated to the Employee\u2019s Account as of the date of the Change in Control. If the Change in Control occurs before May 1, 2006, the Company shall make an initial distribution direct to the Employee in an amount equal to $400,000 in lieu of the first scheduled Company Contribution payment on May 1, 2006.", "snippet_links": [{"key": "upon-a-change-in-control", "type": "clause", "offset": [0, 24]}, {"key": "trustee-shall", "type": "definition", "offset": [30, 43]}, {"key": "a-distribution", "type": "clause", "offset": [49, 63]}, {"key": "to-the-employee", "type": "definition", "offset": [64, 79]}, {"key": "equal-to", "type": "definition", "offset": [80, 88]}, {"key": "allocated-to", "type": "definition", "offset": [101, 113]}, {"key": "date-of", "type": "clause", "offset": [147, 154]}, {"key": "the-company-shall", "type": "clause", "offset": [230, 247]}, {"key": "in-lieu-of", "type": "clause", "offset": [331, 341]}, {"key": "contribution-payment", "type": "definition", "offset": [370, 390]}], "size": 10, "samples": [{"hash": "ayhfGMCCLJK", "uri": "/contracts/ayhfGMCCLJK#initial-distribution", "label": "Executive Bonus Agreement", "score": 31.340862423, "published": true}, {"hash": "j6NIsFh1r98", "uri": "/contracts/j6NIsFh1r98#initial-distribution", "label": "Executive Bonus Agreement (DT Credit Company, LLC)", "score": 21.7967145791, "published": true}, {"hash": "3DTL0sLL1Gz", "uri": "/contracts/3DTL0sLL1Gz#initial-distribution", "label": "Executive Bonus Agreement (DT Credit Company, LLC)", "score": 21.7967145791, "published": true}], "hash": "6aee251deead8faf8f4deee74499c7c1", "id": 1}, {"snippet": "i. Employees, officers and directors designated to receive these Standards will receive their copies immediately after publication.\nii. Future employees, officers and directors designated to receive these Standards will receive their copies at the time they are hired.", "snippet_links": [{"key": "officers-and-directors", "type": "clause", "offset": [14, 36]}, {"key": "to-receive", "type": "definition", "offset": [48, 58]}, {"key": "after-publication", "type": "clause", "offset": [113, 130]}, {"key": "future-employees", "type": "definition", "offset": [136, 152]}, {"key": "at-the-time", "type": "clause", "offset": [241, 252]}], "size": 9, "samples": [{"hash": "kbFeUebTPaA", "uri": "/contracts/kbFeUebTPaA#initial-distribution", "label": "Executive Employment Agreement (Biovail Corp International)", "score": 19.1533196441, "published": true}, {"hash": "gU2rgOkaLKB", "uri": "/contracts/gU2rgOkaLKB#initial-distribution", "label": "Executive Employment Agreement (Biovail Corp International)", "score": 19.1533196441, "published": true}, {"hash": "2XgmkF18D0H", "uri": "/contracts/2XgmkF18D0H#initial-distribution", "label": "Chairman Agreement (Biovail Corp International)", "score": 19.1533196441, "published": true}], "hash": "e79ae269ee349ad77ad4b6799b5be2a9", "id": 2}, {"snippet": "Notwithstanding the terms of Section 2.a., the initial distribution payable on the Series A Convertible CRA Shares shall be equal to the quarterly distribution then payable on the Common Shares, prorated for the period from the date of issuance of the Series A Convertible CRA Shares through the record date for such distribution.", "snippet_links": [{"key": "terms-of", "type": "definition", "offset": [20, 28]}, {"key": "series-a", "type": "definition", "offset": [83, 91]}, {"key": "equal-to", "type": "definition", "offset": [124, 132]}, {"key": "quarterly-distribution", "type": "clause", "offset": [137, 159]}, {"key": "the-common-shares", "type": "clause", "offset": [176, 193]}, {"key": "period-from", "type": "definition", "offset": [212, 223]}, {"key": "issuance-of-the", "type": "clause", "offset": [236, 251]}, {"key": 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73]}, {"key": "on-schedule", "type": "definition", "offset": [130, 141]}, {"key": "a-portion", "type": "definition", "offset": [147, 156]}, {"key": "rules-of", "type": "definition", "offset": [245, 253]}, {"key": "the-code", "type": "clause", "offset": [254, 262]}, {"key": "pursuant-to", "type": "definition", "offset": [312, 323]}], "size": 4, "samples": [{"hash": "d77EuiskStg", "uri": "/contracts/d77EuiskStg#initial-distribution", "label": "Limited Liability Company Agreement (MGM Resorts International)", "score": 25.160164271, "published": true}, {"hash": "h0LKbAdckYm", "uri": "/contracts/h0LKbAdckYm#initial-distribution", "label": "Limited Liability Company Agreement (MGM Resorts International)", "score": 22.8494182067, "published": true}, {"hash": "kfE9F3MpbSa", "uri": "/contracts/kfE9F3MpbSa#initial-distribution", "label": "Limited Liability Company Agreement (CityCenter Holdings, LLC)", "score": 22.7412731006, "published": true}], "hash": "9da35599d21441512e543d88070b9c1c", "id": 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"aggregate-amount", "type": "definition", "offset": [7, 23]}, {"key": "the-escrow-fund", "type": "clause", "offset": [37, 52]}, {"key": "interest-accrued", "type": "definition", "offset": [68, 84]}, {"key": "expiration-date", "type": "clause", "offset": [131, 146]}, {"key": "escrow-balance", "type": "definition", "offset": [163, 177]}, {"key": "aggregate-dollar-amount", "type": "definition", "offset": [192, 215]}, {"key": "contested-amounts", "type": "clause", "offset": [251, 268]}, {"key": "associated-with", "type": "definition", "offset": [269, 284]}, {"key": "indemnification-claims", "type": "clause", "offset": [289, 311]}, {"key": "finally-resolved", "type": "definition", "offset": [331, 347]}, {"key": "prior-to-the", "type": "clause", "offset": [357, 369]}, {"key": "in-accordance-with", "type": "definition", "offset": [386, 404]}, {"key": "article-8", "type": "definition", "offset": [410, 419]}, {"key": "unresolved-escrow-claim", "type": "definition", "offset": [431, 454]}, {"key": "pending-claim-amount", "type": "definition", "offset": [577, 597]}, {"key": "escrow-agent-shall", "type": "clause", "offset": [610, 628]}, {"key": "release-from", "type": "definition", "offset": [629, 641]}, {"key": "shares-of-parent-common-stock", "type": "clause", "offset": [668, 697]}, {"key": "parent-share-price", "type": "definition", "offset": [713, 731]}, {"key": "aggregate-value", "type": "definition", "offset": [765, 780]}, {"key": "equal-to", "type": "definition", "offset": [781, 789]}], "size": 2, "samples": [{"hash": "3pfyN6XHO8D", "uri": "/contracts/3pfyN6XHO8D#initial-distribution", "label": "Acquisition Agreement", "score": 29.340862423, "published": true}, {"hash": "cvBWN6T1Op3", "uri": "/contracts/cvBWN6T1Op3#initial-distribution", "label": "Acquisition Agreement (Great American Group, Inc.)", "score": 23.3778234086, "published": true}], "hash": "594224cacd78f3e67331f3d1de42e2e2", "id": 6}, {"snippet": "The Company shall make a one time distribution to the Class II Unitholder equal to $44,966,496.12 within three (3) Business Days of the date hereof (the \u201cInitial Distribution\u201d). The Initial Distribution shall be made in cash to an account designated in writing by the Class II Unitholder. Notwithstanding Section 4.1, the approval of the Managing Member is not required for the Initial Distribution.", "snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [0, 17]}, {"key": "class-ii", "type": "definition", "offset": [54, 62]}, {"key": "equal-to", "type": "definition", "offset": [74, 82]}, {"key": "business-days-of", "type": "clause", "offset": [115, 131]}, {"key": "date-hereof", "type": "clause", "offset": [136, 147]}, {"key": "in-cash", "type": "definition", "offset": [217, 224]}, {"key": "in-writing", "type": "clause", "offset": [250, 260]}, {"key": "section-41", "type": "clause", "offset": [305, 316]}, {"key": "approval-of", "type": "clause", "offset": [322, 333]}, {"key": "the-managing-member", "type": "clause", "offset": [334, 353]}, {"key": "not-required", "type": "definition", "offset": [357, 369]}], "size": 2, "samples": [{"hash": "eBw15VHe1z", "uri": "/contracts/eBw15VHe1z#initial-distribution", "label": "Contribution Agreement", "score": 21.0684341895, "published": true}, {"hash": "2TdKIWL6Qo2", "uri": "/contracts/2TdKIWL6Qo2#initial-distribution", "label": "Contribution Agreement (Blush Acquisition Corp)", "score": 21.0657084189, "published": true}], "hash": "5a99bc5feaf519f588a829ef5abba439", "id": 7}, {"snippet": "The Current Owners hereby make the Initial Distribution to Centro NP LLC, and Centro NP LLC hereby accepts such distribution in accordance with the terms and subject to the conditions set forth herein.", "snippet_links": [{"key": "current-owners", "type": "definition", "offset": [4, 18]}, {"key": "in-accordance-with", "type": "definition", "offset": [125, 143]}, {"key": "terms-and", "type": "clause", "offset": [148, 157]}, {"key": "the-conditions", "type": "clause", "offset": [169, 183]}], "size": 2, "samples": [{"hash": "lT1CHQAY2w9", "uri": "/contracts/lT1CHQAY2w9#initial-distribution", "label": "Contribution, Distribution and Assignment Agreement (Centro NP LLC)", "score": 19.0, "published": true}, {"hash": "4NT63d2GLiv", "uri": "/contracts/4NT63d2GLiv#initial-distribution", "label": "Contribution, Distribution and Assignment Agreement (Centro NP LLC)", "score": 19.0, "published": true}], "hash": "4de0832d8cfb2cc1f2ebe0a2fee569f7", "id": 9}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1pbml0aWFsLWRpc3RyaWJ1dGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Initial Distribution", "children": [["preparedness-for-initial-distribution", "Preparedness for Initial Distribution"], ["final-distribution-adjustment", "Final Distribution Adjustment"], ["audited-financials", "Audited Financials"], ["supplemental-distribution", "Supplemental Distribution"]], "size": 74, "parents": [["distributions", "Distributions"], ["distribution-upon-change-in-control", "Distribution Upon Change in Control"], ["distribution-of-benefits", "Distribution of Benefits"], ["miscellaneous", "Miscellaneous"], ["non-liquidating-distributions", "Non Liquidating Distributions"]], "id": "initial-distribution", "related": [["special-distribution", "Special Distribution", "Special Distribution"], ["final-distribution", "Final Distribution", "Final Distribution"], ["special-distributions", "Special Distributions", "Special Distributions"], ["final-distributions", "Final Distributions", "Final Distributions"], ["residual-distributions", "Residual Distributions", "Residual Distributions"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": ["What are the key negotiation levers in defining 'Initial Distribution' timing and conditions?", "Which essential terms must be included to avoid ambiguity or disputes over the Initial Distribution?", "What are the most common risks or pitfalls that could render the Initial Distribution clause unenforceable?", "How does this Initial Distribution clause compare to market standards or statutory defaults?", "What evidence or documentation is critical to support enforceability of the Initial Distribution in court?"], "drafting_tip": "Specify distribution timing and method to ensure clarity; identify responsible parties to assign accountability; define conditions precedent to prevent disputes.", "explanation": "The Initial Distribution clause defines how and when the first allocation or delivery of goods, shares, or other assets will occur under an agreement. Typically, it outlines the quantity, timing, and method of this initial transfer, specifying the parties involved and any conditions that must be met beforehand. This clause ensures that all parties have a clear understanding of the commencement of their obligations or entitlements, thereby reducing the risk of disputes or misunderstandings at the outset of the contractual relationship."}, "json": true, "cursor": ""}}