Reduction of Allocated Amount Sample Clauses

Reduction of Allocated Amount. After having provided notice to the Operating Partnership of such reduction, Pension Partnership may reduce the Allocated Amount under the following circumstances and with the following exceptions: a. From the date Producing Properties are first acquired that are subject to this Net Profits Agreement until the first anniversary of the date thereof, Pension Partnership shall be entitled at any time to withdraw all or any portion of the Allocated Amount for use in the acquisition of nonoperating interests from Persons other than Operating Partnership. b. From the end of the period specified in paragraph a. above until that date which is eighteen (18) months from the date of this Net Profits Agreement, Pension Partnership shall have no right to withdraw any portion of the Allocated Amount. c. If by the end of the period specified in paragraph b. above Operating Partnership has not (i) assigned to Pension Partnership nonoperating interests and/or (ii) provided notice to the Pension Partnership informing it that Leases have been acquired and/or are being acquired that will be the subject of a Net Profits Interest within a reasonable period of time, which collectively will constitute sufficient nonoperating interests to cause all of the Allocated Amount to be expended, then the unexpended balance of the Allocated Amount shall no longer be subject to this Net Profits Agreement. d. If Operating Partnership withdraws some fraction of the Committed Amount in the manner permitted by Section 2.04.a above, then Pension Partnership shall be entitled to withdraw an equal fraction of the Allocated Amount. Such withdrawal shall be made within thirty (30) days of the withdrawal by Operating Partnership.
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Related to Reduction of Allocated Amount

  • Payment Allocation Subject to applicable law, your payments may be applied to what you owe Credit Union in any manner Credit Union chooses.

  • Reallocation of Applicable Percentages to Reduce Fronting Exposure During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment. Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

  • Timing and Amount of Allocations of Net Income and Net Loss Net Income and Net Loss of the Partnership shall be determined and allocated with respect to each Partnership Year of the Partnership as of the end of each such year. Subject to the other provisions of this Article 6, an allocation to a Partner of a share of Net Income or Net Loss shall be treated as an allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss.