Postponed and De Minimis Distributions Sample Clauses

Postponed and De Minimis Distributions. Notwithstanding anything to the contrary in this Agreement, if the Distribution Trustee determines, with the consent of the Steering Committee, that the amount of any quarterly distribution is too small to justify the administrative costs associated with such distribution, the Distribution Trustee may (a) postpone such quarterly distribution until the next Quarterly Distribution Date, or (b) if quarterly distributions have been previously postponed with respect to two or more Quarterly Distribution Dates and the Distribution Trustee determines, with the consent of the Steering Committee, that the amount of Distribution Assets will not increase to an amount that justifies the administrative costs associated with making any future distributions, the Distribution Trustee may contribute all remaining Distribution Trust Assets to a charitable organization that is exempt from federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code and that is selected by the Bankruptcy Court or the Steering Committee. The Distribution Trustee will have no obligation to notify Beneficiaries if any quarterly distribution is postponed pursuant to clause (a) of the preceding sentence; however, the Distribution Trustee will provide reasonable notice to the Beneficiaries (which may be by publication) if distributions will cease due to a contribution made pursuant to clause (b) of such sentence. In addition, the Distribution Trustee will not be required to distribute Cash to the holder of an Allowed General Unsecured Claim or to the indenture trustee under the FLYi Indenture on behalf of the holders of Allowed Class 3B Claims if the amount of Cash to be distributed on account of such Claim or Claims is less than $5 in the aggregate. In such event, the Claim or Claims for such distribution shall be deemed satisfied, waived and released and the claimant or the indenture trustee under the FLYi Indenture, as the case may be, will be forever barred from asserting any such Claim against the Debtors, the Distribution Trustee or the property of any of them, including the Trust Accounts. Any Cash not distributed with respect to Allowed General Unsecured Claims or Allowed Class 3B Claims as a result of this Section ‎5.4.6 will be retained in the FLYi Unsecured Claims Trust Account or the Independence Unsecured Claims Trust Account, as applicable, for redistribution to other holders of Allowed General Unsecured Claims and Allowed Class 3B Claims entitled to distribution...
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Related to Postponed and De Minimis Distributions

  • Investments; Distributions (i) Directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Subsidiaries to do so; or (ii) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock.

  • Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.

  • Cash Flow Distributions The Cash Flow of the Company, if any, shall be distributed to the Member subject to any limitations on the Company’s ability to make distributions imposed by the Company’s lenders or by applicable law.

  • Capital Contributions Distributions 10 SECTION 5.1

  • Allocations Distributions Each item of income, gain, loss, deduction and credit of the Company shall be allocated 100% to the Member. Each distribution of cash or other property by the Company shall be made 100% to the Member. Distributions shall be made to the Member at the times and in the amounts determined by the Member.

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority:

  • Character of Liquidating Distributions All payments made in liquidation of the interest of a Unit Holder in the Company shall be made in exchange for the interest of such Unit Holder in Property pursuant to Section 736(b)(1) of the Code, including the interest of such Unit Holder in Company goodwill.

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Net Asset Value, Distributions, and Redemptions Section 1. Determination of Net Asset Value, Net Income, and Distributions. Subject to Article III, Section 6 hereof, the Trustees, in their absolute discretion, may prescribe and shall set forth in the By-laws or in a duly adopted resolution of the Trustees such bases and time for determining the per Share net asset value of the Shares of any Series and the declaration and payment of dividends and distributions on the Shares of any Series, as they may deem necessary or desirable.

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