Optional Distributions Sample Clauses
The Optional Distributions clause allows a party, typically a trustee or administrator, to make discretionary distributions of assets or income to beneficiaries outside of any mandatory distribution schedule. In practice, this means the responsible party can provide funds or property to beneficiaries based on their needs, emergencies, or other criteria set out in the agreement, even if such distributions are not required at specific times. This clause provides flexibility to address unforeseen circumstances or beneficiary needs, ensuring that support can be given when necessary rather than being strictly limited to predetermined intervals.
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Optional Distributions. Except for the mandatory distributions in ---------------------- this Article 6, distributions shall be made when and as declared by the Managing Members. Any distributions shall be made to the Members pro rata in accordance with their respective Units, provided that no distribution shall be made to a Member which will cause or increase an Adjusted Capital Account Deficit for such Member; and provided that distributions shall only be made to the extent that, after giving effect to a distribution, the assets of the Company are in excess of all liabilities of the Company except liabilities to Members on account of their Capital Contributions.
Optional Distributions. To the extent that funds of the Company may be available for distribution by the Company in the Board’s good faith judgment, the Board may, but is not obligated (except in the case of a distribution arising from a dissolution or liquidation described in Article XIII) to make distributions from time to time in respect of the Units, but only in the following order:
(i) first, to the Class A Unitholders (pro rata among them according to their respective aggregate Unreturned Class A Capital of thir Class A Units immediately before such distribution relative to the aggregate Unreturned Class A Capital of all Class A Units outstanding immediately before such distribution) until the aggregate amount of Unreturned Class A Capital with respect to all Class A Units is reduced to zero,
(ii) second, after the distributions required by Section 4.1(a)(i) have been made, to the Class B Unitholders and Class C Unitholders (pro rata among them according to the number of Class B Units and Participating Class C-l Units held by them immediately before such distribution) until the Multiple of Money Target One is achieved,
(iii) third, after the Multiple of Money Target One has been achieved and the distributions required by this Section 4.1(a) through Section 4.1(a)(ii) have been made, to the Class C-2 Unitholders (pro rata among them according to the number of Class C-2 Units that vested upon achievement of the Multiple of Money Target One and are held by them immediately before such distribution) until each Class C-2 Unit that vested upon achievement of the Multiple of Money Target One receives an amount pursuant to this Section 4.1(a)(iii) equal to the amount distributed in respect of a Class B Unit pursuant to Section 4.1(a)(ii),
(iv) fourth, after the distributions required by this Section 4.1(a) through Section 4.l(a)(iii) have been made, to the Class B Unitholders and Class C Unitholders (pro rata among them according to the number of Class B Units, Participating Class C-l Units and vested Class C-2 Units that vested upon achievement of the Multiple of Money Target One held by them immediately before such distribution) until the Multiple of Money Target Two is achieved, (v) fifth, after the Multiple of Money Target Two has been achieved and the distributions required by this Section 4.1(a) through Section 4.1(a)(iv) have been made, to the Class C-2 Unitholders (pro rata among them according to the number of Class C-2 Units that vested upon achievement of the Multiple of...
Optional Distributions. After providing for the satisfaction of all the debts and obligations of the Partnership and after any required payments on any loan or other financing, the Partnership may, by agreement of the Partners (except as otherwise required in this Agreement), make distributions of all or any portion of the Net Cash Flow of the Partnership or net proceeds from any Interim Capital Transaction, to the extent available (after establishment of appropriate and reasonable reserves), to the Partners in the following manner and order of priority:
(a) first, an amount up to the aggregate balance of the Optional Loan Accounts of the Partners shall be distributed to the Partners first to make the Optional Loan Accounts of the Partners stand in the same ratio as their respective Percentage Interests in the Partnership, and then, in proportion to their respective shares of such aggregate additional balance, if any, of the Optional Loan Accounts of the Partners; and
(b) any remaining Net Cash Flow of the Partnership which is approved by the Partners for distribution shall be distributed to the Partners in accordance with their respective Percentage Interests in the Partnership.
Optional Distributions. 1Subject to the restrictions governing distributions under the Limited Liability Company Act of the State of New Hampshire, additional distributions of cash or property may be made from time to time by the Company to the Members, at such times and in such amounts as the Members may determine.
Optional Distributions. Subject to Sections 4.2 and 6.3, Distributable Cash shall be distributed to the Members in proportion to their respective Percentage Interests quarterly in arrears, provided that the Company shall not be required to make any distribution to any Member if such distribution would violate the Act or other applicable law.
Optional Distributions. The Company may make optional cash distributions to the Members when, as and if determined by the Management Board and all distributions under this Section 9.4 shall be made among the Members in proportion to their Percentage Interests. Assets or cash available for distribution in connection with the termination and winding up of the Company shall be distributed in accordance with the provisions of Section 11.2. ARTICLE X