Regular Quarterly Distributions Sample Clauses

Regular Quarterly Distributions. Subject to the provisions of Section 5.7, if, during and/or following a calendar year, the Company has made all priority distributions provided for in Section 5.2 and there is cash on hand and in Company accounts that exceeds the Reserves, the Managers shall distribute the cash sum of ONE MILLION DOLLARS ($1,000,000) (or so much thereof as will not deplete the Reserves) to the Members in percentages equal to their Membership Percentages. To the extent that there is cash on hand in Company accounts, such payment shall be made in quarterly distributions of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) following the end of each calendar quarter, with any quarterly distribution deficiencies to be made up following the end of the calendar quarters that follow during that calendar year, to the extent there is cash on hand available for such distributions. Distributions to be made pursuant to the provisions of this Section shall take precedence and priority over the distributions provided for in Section 5.4.
Sample 1
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Regular Quarterly Distributions. On each Distribution Payment Date following the Exchange Date holders of Class B-1 Units shall be entitled to receive when, as and if declared by the General Partner, a distribution per Class B-1 Unit equal to the amount, if any, by which the regular quarterly distribution being paid concurrently therewith in respect of a Class A Unit exceeds $0.85, and holders of Class B-2 Units shall be entitled to receive, when, as and if declared by the General Partner, a regular quarterly distribution in an amount equal to the lesser of (x) $0.39 per Class B-2 Unit and (y) the quotient resulting when the amount of the cash distribution being paid concurrently therewith in respect of a Class A Unit is divided by the Class B-2 Conversion Factor. Distributions on Class B Units will be payable on Distribution Payment Dates commencing on the first Distribution Payment Date after the Exchange Date. For the avoidance of doubt, distributions as set forth above shall only be payable in respect of the Class B Units commencing from and after the Exchange Date and holders of Class B Units are not entitled to receive any distributions in respect of any payment date or period prior to such date. Distributions on the Class B-2 Units may only be made by the Partnership from the Nongovernmental Account, provided, however, that if such account should not contain sufficient cash to fund distributions authorized and declared by the General Partner on the Class B-2 Units, unpaid distributions shall accumulate without interest until such time as the Nongovernmental Account contains sufficient cash to pay such distributions, at which time such distributions shall be made on the Class B-2 Units. If, and to the extent, distributions are to be paid on the Class B-2 Units as a result of the foregoing provisions, or there exists any unpaid redemption amount as contemplated in Section 2.D below due to any prior deficiency in the Nongovernmental Account, and funds not derived from contracts with “the United States or any agency thereof” are available to the Partnership for distribution in respect of Class B Units, the Partnership will cause such funds to be deposited in the Nongovernmental Account for such purpose.
Sample 1
Regular Quarterly Distributions. IPT shall not, from and after the date hereof, declare or pay distributions on the IPT Common Shares except as set forth in Sections 6.1(c), (d) and (e); provided, however, that if the Effective Time shall not have occurred by June 1, 1999, IPT may thereafter, at the election of a majority of the Continuing Trustees, declare and pay a distribution in an amount in cash per IPT Common Share equal to the IPT Final Distribution Amount (assuming that for purposes of determining the IPT Final Distribution Amount the IPT Meeting Date were the date prior to the record date for such distribution) and regular quarterly distributions thereafter, each in an amount in cash per IPT Common Share equal to the greater of (x) $0.16 or (y) the product of 0.36011 multiplied by the per share amount of the most recent distribution declared, as of the date of determination, by the AIMCO Board in respect of the AIMCO Common Stock (other than a Special AIMCO Distribution).
Sample 1

Related to Regular Quarterly Distributions

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • Pro Rata Distributions During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

  • Required Distributions Generally, when you die, designated beneficiary(ies) who are individuals may elect to deplete the Xxxx XXX by the end of the fifth calendar year following your death or to receive payments based on the designated beneficiary(ies)’s life expectancy. If life expectancy payments are elected, the payments must generally begin by December 31 of the first calendar year following your death. If your surviving spouse is your sole designated beneficiary, he or she may delay the first distribution until December 31 of the year you would have attained age 70½, if later. If your designated beneficiary is not an individual or qualified trust (e.g., a charity, your estate, etc.), your Xxxx XXX must be distributed by the end of the fifth calendar year following your death. Generally, each beneficiary may elect the timing and manner regarding the distribution of his or her portion of the Xxxx XXX. Elections must generally be made by December 31 of the year following your death. If timely elections are not made, distributions to designated beneficiaries who are individuals will be made using the life expectancy option. The default provision for designated beneficiaries that are not individuals is the 5-year method. If your beneficiary(ies) fails to withdraw the required amount in any tax year, he or she may be subject to a 50% excess accumulation penalty tax on the amount that should have been withdrawn but was not distributed. If your surviving spouse is the sole designated beneficiary of your Xxxx XXX, he/she may treat your Xxxx XXX as his or her own Xxxx XXX by redesignating your Xxxx XXX as his or her own Xxxx XXX, failing to take a required distribution as a beneficiary, or by making a contribution. Regardless of whether your spouse is your sole designated beneficiary, he or she may roll distributions from your Xxxx XXX into his or her own Xxxx XXX generally within 60 days of receipt. Additional restrictions may apply. CUSTODIAN NOT YOUR ADVISOR UMB Bank, n.a., UMB Distribution Services, LLC, Grand Distributions Services, LLC, and UMB Fund Services, Inc. expressly disclaim any right, duty, authority or responsibility to furnish legal or tax advice relating to your IRA, including but not limited to present or future tax consequences to you or others which may result from the establishment or maintenance of the Custodial Account, the permissible amounts or deductibility of contributions, the effect of withdrawals, the selection of payment options or beneficiaries, any matters pertaining to prohibited transactions, and any other matter whatsoever. You are advised and encouraged to consult with professional counsel of your own selection respecting all such matters.

  • 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.

  • REMIC Distributions On each Distribution Date the Trustee shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 5.07 hereof.

  • Required Minimum Distributions Your required minimum distribution is calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9. However, if your spouse is your sole designated beneficiary and is more than 10 years younger than you, your required minimum distribution is calculated each year using the joint and last survivor table in Regulations section 1.401(a)(9)-9. If you fail to request your required minimum distribution by your required beginning date, we can, at our complete and sole discretion, do any one of the following. • Make no distribution until you give us a proper withdrawal request • Distribute your entire IRA to you in a single sum payment • Determine your required minimum distribution from your IRA each year based on your life expectancy, calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9, and pay those distributions to you until you direct otherwise We will not be liable for any penalties or taxes related to your failure to take a required minimum distribution.

  • Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

  • Final Distributions Section 8.01. Sale of Receivables or Certificateholders' Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01 or 7.02 of this Supplement.

  • Carry Forward to a Subsequent Year If you do not withdraw the excess contribution, you may carry forward the contribution for a subsequent tax year. To do so, you under-contribute for that tax year and carry the excess contribution amount forward to that year on your tax return. The six percent excess contribution penalty tax will be imposed on the excess amount for each year that it remains as an excess contribution at the end of the year. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.

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