Priority Distributions Clause Samples
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Priority Distributions. During each Fiscal Year within the Priority Period, if the Management Committee determines that the Company has cash available after payment of the Special Distribution, required operating expenses and liabilities of the Company, Reimbursable Member Expenses and Project Management Expenses, the Company shall distribute to Acadia Holdings cash in the amount of the Accumulated Priority Amount and the Priority Amount ("Priority Distributions"). To support the performance of Calpine Energy under the PPAs, Calpine Parent is providing three letters of credit for the benefit of Acadia Holdings (the "Calpine LCs"). If Acadia Holdings draws any Demand Amount (as defined in the applicable Calpine LC) under any Calpine LC, such Demand Amount shall be deemed to have been distributed by the Company to Acadia Holdings. If the stated amount of such Calpine LC is reinstated within five (5) Business Days after the date of payment of such Demand Amount, then (a) the amount paid shall be deemed a distribution to Acadia Holdings and shall be treated as a Priority Distribution hereunder and (b) the Accumulated Priority Amount and the Priority Amount otherwise owed to Acadia Holdings shall be reduced accordingly by the amount of the Demand Amount.
Priority Distributions. The Members agree that ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇. shall be entitled to and receive a priority distribution from Cash Flow in the amount of $___________ plus interest thereon at the rate of _________ percent (___%) per annum from the date hereof to reimburse him for the cost of the real estate and development costs incurred therewith which he has contributed to the LLC. These priority distributions shall be made prior to any other distributions of Cash Flow to the Members, other than Tax Distributions and constitute a deduction from Cash Available for Distribution as hereinafter provided in this Agreement.
Priority Distributions. Distributions of Available Cash shall be made on the Series A Preferred Shares from time to time as may be determined by the Board, PROVIDED that (i) in the 6th and each subsequent year after initial issuance of the Series A Preferred Shares a Distribution shall be made in an amount equal to the Series A Preferred Return for such year, and (ii) prior to the end of the twelfth year after the initial issuance of the Series A Preferred Shares, a Distribution in redemption of the Series A Preferred Shares shall be made in an amount equal to the portion of the Required Series A Capital Account Balance attributable to the Series A Preferred Shares redeemed.
Priority Distributions. 100% to the Limited Partners until each Limited Partner has received a return of its Contributed Capital;
Priority Distributions. Notwithstanding anything to the contrary in Section 4.1, for each Fiscal Year of the Company, Net Cash Flow shall be distributed on at least an annual basis as follows:
(a) First, to any Member holding a Preferred Return in an amount equal to the Member’s Accumulated Preference, less any amount previously distributed to such Member pursuant to this Section 4.2(a). Such distribution shall be treated as a preferred return pursuant to Section 1.707-4 of the Regulations.
(b) Second, any remaining Net Cash Flow shall be distributed pro rata to the Members in accordance with each Member’s Percentage Interest.
Priority Distributions. Notwithstanding anything to the contrary in this Agreement, before making any distribution on the LP Units, the Partnership will distribute (a “Priority Distribution”) to the General Partner on the GP Units on the relevant distribution date or at such other times as the General Partner may determine in its sole and absolute discretion, an aggregate amount of income determined by the General Partner and payable in a manner and at times determined by the General Partner sufficient to allow KML to pay its expenses on a timely basis.
Priority Distributions. The OPE 2nths will be entitled to a priority distribution in return of the $6MM Investment in the amount of four hundred and eighty thousand dollars ($480,000) per year ("480 Payment") commencing with the year beginning on the Full Investment Date. The 480 Payment shall be made annually on the Full Investment Date until the $6MM Investment is returned in full. The 480 Payment shall be made first from proceeds which would otherwise be available for distribution in respect of nths in the ordinary course of business of AFLI, which proceeds were received by AFLI during the twelve month period preceding the date the 480 Payment is due, exclusive of receipts from assessments of members for operations or from fines. The 480 Payment, to the extent paid from such proceeds available for distributions, shall be paid to OPE prior to any distributions in respect of nths. In the event that AFLI does not have sufficient proceeds available for distributions to make the 480 Payment in any year, AFLI will asses each team nth prorata an amount of up to $20,000 per Team nth in order to make the 480 Payment. If after such assessment in the full amount of $20,000 per Team nth there is insufficient cash to pay the 480 Payment in full, the shortfall shall be added to 480 Payment for the 3 next following year. The provisions of this Section 1.4 (a)shall apply cumulatively to the 480 Payment for each year until the $6MM Investment is paid in full.
Priority Distributions