Maximum Distribution Clause Samples
Maximum Distribution. As of the end of the fiscal quarter immediately preceding the Advance (and as of the end of each fiscal quarter thereafter), at no time that the Loan is outstanding shall Guarantor's and PGRT's aggregate maximum distribution for the most recent four (4) full fiscal quarters prior to the date of determination to their common shareholders and unit holders, as applicable, exceed 90% of PGRT's Funds From Operations. "Funds From Operations", for any period, shall be determined in accordance with the definition for such term promulgated by the National Association of Real Estate Investment Trusts in effect as of the Closing Date (as adjusted for any straight-lining of rent and any write down in the value of land or loss on the sale of land), as published in The White Paper on Funds From Operations, dated October 1999.
Maximum Distribution. As of the end of the fiscal quarter immediately preceding the Initial Advance (and as of the end of each fiscal quarter thereafter), at no time that the Loan is outstanding shall Guarantor’s and PGRT’s aggregate maximum distribution for the most recent four (4) full fiscal quarters prior to the date of determination to their common shareholders and unit holders, as applicable, exceed 90% of PGRT’s Funds From Operations.
Maximum Distribution. In no event will any Participating Class Member receive a distribution of more than $400,000.00. If the distribution to any Participating Class Member is capped by this provision, the excess will be distributed to other Participating Class Members based on the calculation procedures stated above. Each Service Cooperative and association is also subject to this maximum distribution provision.