Minimum Amount Distributions Clause Samples

Minimum Amount Distributions. First, in each year commencing with 1998, the limited partnership shall distribute to the Limited Partner cash in the amount equal to the Minimum Amount for that year. The Minimum Amount for 1998 shall be distributed as follows: (a) $10.725 million was loaned to Fund immediately prior to the execution and delivery of the Overall Agreement and in accordance with Section 11.2(b) thereof, and such amount shall be deemed a credit against the Minimum Amount as of the Effective Date, (b) one-half of the Minimum Amount for 1998 (i.e., $13,365,750) shall be distributed to the Limited Partner on the earlier of (i) seven days prior to the Tender Offer Expiration Date, or (ii) February 15, 1998, and (c) the balance of the Minimum Amount for 1998 (i.e., $2,640,750) shall be distributed to the Limited Partner no later than November 17, 1998. For each year after 1998, not less than one half of the Minimum Amount for such year shall be distributed to the Limited Partner no later than July 15 of that year and the balance of the Minimum Amount for such year shall be distributed to the Limited Partner no later than November 15 of that year; provided that, if -------- ---- such July 15 or November 15 is not a Business Day, the amount due on such July 15 or November 15 shall be paid on or before the next Business Day after such July 15 or November 15, as the case may be. If any of the property or assets owned by the limited partnership on the Effective Date of this Agreement (other than food, beverages, goods, inventory and other items typically held for sale in the ordinary course) are sold, cash in an amount equal to the sales proceeds shall be (i) distributed to the Limited Partner, (ii) credited against the Minimum Amount distribution for the year of such distribution and, if necessary, (iii) credited against the Minimum Amount distribution for the succeeding years, with the result that the aggregate amount of the Minimum Amount distribution for such years will not change.