Patronage Distributions. Following the Effective Time and within the time period required by the various provisions of the Code, the Surviving Entity will make patronage distributions to the former members of each party based on patronage transactions with the respective parties during each party's respective fiscal year or portion thereof immediately preceding the Effective Time. The patronage distributions shall be in the form of cash and equity credits in a manner consistent with the previous patronage distributions of each party (and in the case of equity credits, in the form of Class A Units or Class B units of LLC, as appropriate).
Patronage Distributions. 13 Section 7.03 1996 Loss Payable ............................................ 13 Section 7.04 Indemnification; Directors' and Officers' Insurance .......... 13 ARTICLE VIII TERMINATION ............................................................... 14 Section 8.01
Patronage Distributions. Following the Effective Time and within the time period required by Subchapter T of the Code, the Surviving Entity will make patronage allocations to the former members of each party (a) based on patronage transactions with the respective parties during each party's respective fiscal year or portion thereof immediately preceding the Effective Time and (b) in accordance with the terms of the bylaws of the party that are in effect during the period such patronage transaction occurred. The distributions of such allocation shall be in the form of cash and equity credits in a manner consistent with the previous patronage distributions of each party.
Patronage Distributions. Section 11.01
Patronage Distributions. 76 Section 11.02 Income Tax Consent .....................77
Patronage Distributions. Prior to the 15th day. of the ninth month following the close of ASCC's taxable year, ASCC shall be required to pay a Patronage Dividend (as defined in Section 1388(a) of the Code) to the Seller equal to that portion of the net earnings of ASCC that bears the same ratio to total net . earnings as the total discounts or other items in the nature of interest received by ASCC arising pursuant to all transactions with the Seller and attributable to such taxable year bears to the total discounts or other items in the nature of interest received by ASCC arising pursuant to all transactions with all of ASCC's patrons attributable to such taxable year. Net earnings of ASCC for the purposes of this Section 11.01 shall mean the excess of income over expense as determined for federal income tax purposes. At least twenty percent of any Patronage Dividend shall be paid in cash. The balance of any Patronage Dividend may be paid through the issuance of a qualified written notice of allocation as provided in Section 1388(c) of the Code. Subject to the foregoing, the time and manner of patronage distributions shall be determined on an annual basis by the board of directors of ASCC.
Patronage Distributions. 26 Section 6.03...Indemnification of Former Officers; Insurance 26 ARTICLE VIITERMINATION.........................................27 Section 7.01........................Termination of Agreement 27 Section 7.02...........................Effect of Termination 27
Patronage Distributions. SECTION 8.1.
Patronage Distributions. Notwithstanding any other provision in this Agreement or any other Loan Document to the contrary, (a) all Obligations owing to a Lender that is a Farm Credit Lender that are retained by such Lender for its own account and are not part of a sale of a participation interest or the assignment of any rights or obligations under the Loan Documents shall be entitled to patronage distributions in accordance with the bylaws of such Lender and its practices and procedures related to patronage distributions; and (b) any Obligations owing to a Lender that is a Farm Credit Lender that are not retained by such Farm Credit Lender for its own account and are part of a sale of a participation interest or the assignment of any rights or obligations under the Loan Documents shall not be entitled to any such patronage distributions.
Patronage Distributions. 26 Section 6.03 Indemnification of Former Officers; Insurance..............26 ARTICLE VII
