Common use of Limited Distributions of Income from Trust Account Clause in Contracts

Limited Distributions of Income from Trust Account. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes; and

Appears in 9 contracts

Samples: Investment Management Trust Agreement (Trans-India Acquisition Corp), Investment Management Trust Agreement (Community Bankers Acquisition Corp.), Investment Management Trust Agreement (Global Consumer Acquisition Corp.)

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Limited Distributions of Income from Trust Account. (a) If there is any income or other tax obligation relating to the income from the Property in the Trust AccountAccount as determined by the Company, then, at the written instruction of the Company, the Trustee shall disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes; and

Appears in 3 contracts

Samples: Investment Management Trust Agreement (Freedom Acquisition Holdings, Inc.), Investment Management Trust Agreement (Inter-Atlantic Financial, Inc.), Investment Management Trust Agreement (Inter-Atlantic Financial, Inc.)

Limited Distributions of Income from Trust Account. (a) If there is any income or other tax obligation relating to the income from the Property in the Trust AccountAccount as determined by the Company, then, at the written instruction of the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes; and;

Appears in 3 contracts

Samples: Investment Management Trust Agreement (Atlas Acquisition Holdings Corp.), Investment Management Trust Agreement (Atlas Acquisition Holdings Corp.), Investment Management Trust Agreement (Atlas Acquisition Holdings Corp.)

Limited Distributions of Income from Trust Account. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company by wire transfer, out of the income on the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes; and;

Appears in 3 contracts

Samples: Investment Management Trust Agreement (Union Street Acquisition Corp.), Investment Management Trust Agreement (Union Street Acquisition Corp.), Investment Management Trust Agreement (Union Street Acquisition Corp.)

Limited Distributions of Income from Trust Account. (a) If there is any income tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes. Notwithstanding the foregoing, any distribution shall be made only from income collected on the Property, and in no event shall cause the amount in the Trust Account to fall below the amount initially deposited into the Trust Account; and

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Cazador Acquisition Corp Ltd.), Investment Management Trust Agreement (Cazador Acquisition Corp Ltd.)

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Limited Distributions of Income from Trust Account. (a) If there is any income or other tax obligation relating to the income from the Property in the Trust AccountAccount as determined by the Company, then, at the written instruction of the Company, the Trustee shall disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes; and;

Appears in 2 contracts

Samples: Investment Management Trust Agreement (Liberty Acquisition Holdings Corp.), Investment Management Trust Agreement (Liberty Acquisition Holdings Corp.)

Limited Distributions of Income from Trust Account. (a) If there is any income income, franchise or other federal, state or local tax obligation relating to the income from the Property in the Trust AccountAccount as determined by the Company, then, from time to time, at the written instruction of the Company, the Trustee shall promptly, to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, liquidate such assets held in the Trust Account as shall be designated by the Company in writing, and disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay owing in respect of such income taxestax obligation; and

Appears in 1 contract

Samples: Investment Management Trust Agreement (International Brands Management Group LTD)

Limited Distributions of Income from Trust Account. (a) If there is any income such tax obligation relating to the income from the Property in the Trust Account, then, at the written instruction of the Company, the Trustee shall disburse to the Company by wire transfer, out of the Property in the Trust Account, the amount indicated by the Company as required to pay income taxes; and

Appears in 1 contract

Samples: Investment Management Trust Agreement (China Pacific Acquisition Corp)

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