Scheduled Distributions Sample Clauses
The Scheduled Distributions clause outlines the timing and manner in which payments or distributions are made to parties under an agreement. Typically, it specifies set dates or intervals—such as monthly, quarterly, or annually—when funds, profits, or other assets will be distributed, and may detail the calculation method or conditions for each distribution. This clause ensures predictability and transparency in the flow of payments, helping all parties plan accordingly and reducing the risk of disputes over when and how distributions occur.
Scheduled Distributions. To the extent that the right to receive Common Shares with respect to the RSUs has become nonforfeitable in accordance with Section 1 of this Award Agreement, distributions in respect of the Participant’s Account shall be made, subject to the terms and conditions of Section 5 hereof, in the form of Common Shares equivalent to the number of vested RSUs in the Participant’s Account, deliverable to the Participant on the earlier of ___________________ or __________________. Distributions for which an election hereunder is made by Participant pursuant to this Section to defer the distribution beyond March 15 of the year following the year in which the RSUs become nonforfeitable under the terms of Section 1 must be done in accordance with the rules and regulations established by §409A of the Internal Revenue Code. These include the required six (6) month delay in a distribution for a Specified Employee upon a “separation from service”. Further, any subsequent change to an election to delay the distribution date must be for at least five (5) years beyond the initial deferred distribution date and the modified election must be made at least twelve (12) months prior to the original distribution date. There can be no acceleration of a distribution date other than as described in Section 4(b).
Scheduled Distributions. Except as otherwise provided in Sections 5.02, 5.03 and 5.04 hereof, on each Payment Date, the Manager shall direct in writing the Security Agent to, and the Security Agent shall, distribute amounts on deposit in the Collections Account in the following order of priority (for the avoidance of doubt, the proceeds of the Advances made under the Credit Agreement and the Related Equity Amounts shall not be subject to the order of priorities set forth in this Section 5.01 and Sections 5.02 and 5.03 hereof but shall be applied as provided in Section 4.10 of the Credit Agreement): First, so much of such amounts shall be distributed to the Security Agent and the Administrative Agent sufficient to pay in full fees, indemnities, costs and expenses (if any) due and owing to the Administrative Agent and the Security Agent on a pro rata basis on such Payment Date; Second, so much of such amounts remaining shall be deposited into the Expenses Account sufficient to pay in full (A) all other then due Administrative Expenses and the Operational Expenses (including any Reimbursable Expenses owing to the Manager but excluding any payments due to the Contractor under the Assigned Construction Contract), (B) the Senior Management Fees then due and owing to the Manager and (C) to the extent not paid under clause (A), any indemnification payments then due and owing to the Manager under the Management and Operating Agreement on a pro rata basis as of such Payment Date (or which are scheduled to become due and payable prior to the next succeeding Payment Date); Third, in no order of priority among each other but on a pro rata basis as to the amounts described in clauses (A), (B), (C) and (D) as follows: (A) so much of such amounts remaining as is required to pay in full the accrued and unpaid Unused Fees due and owing to the Lenders shall be distributed to the Lenders on a pro rata basis based upon the aggregate Unused Fees due to all Lenders; (B) so much of such amounts remaining as is required to pay in full the accrued but unpaid interest then due in respect of the outstanding Advances shall be distributed to the Lenders on a pro rata basis based upon the outstanding principal amount of Advances funded by such Lenders; (C) so much of such amounts remaining as is required to pay in full the aggregate LIBOR Break Costs, if any, and any other amounts (including any indemnity payments under Section 10.3.2 of the Credit Agreement) owing to the Lenders under the Operative Agreements ...
Scheduled Distributions. To the extent that the right to receive Common Shares with respect to the RSUs has become nonforfeitable in accordance with Section 1 of this Award Agreement, distributions in respect of the Participant’s Account shall be made, subject to the terms and conditions of Section 5 hereof, in the form of Common Shares equivalent to the number of vested RSUs in the Participant’s Account, deliverable to the Participant upon vesting, subject to the rules and regulations established by §409A of the Internal Revenue Code. Notwithstanding the foregoing, if the Participant is, on the date of his or her “separation from service,” one of the Company’s “specified employees” (as determined by the Company pursuant to §409A), then any portion of the Participant’s RSUs that constitutes deferred compensation within the meaning of §409A of the Internal Revenue Code and is distributable upon the Participant’s separation from service shall not be distributed until the earlier of (a) the first day of the seventh month after the date of the Participant’s separation from service or (b) the date of the Participant’s death.
Scheduled Distributions. In connection with the election to defer Restricted Stock Units, an Employee may irrevocably elect, by completing the Election Form pursuant to Section 2 of this Agreement, to receive a distribution (in the manner provided in Section 6(i)) of his or her Restricted Stock Units in a specified calendar year (a "Scheduled Distribution"). The Scheduled Distribution shall be made in a lump sum payment. Subject to the other terms and conditions of this Agreement, each Scheduled Distribution shall be paid during a sixty (60) day period commencing immediately after the first day of any calendar year designated by the Employee. The calendar year must be at least three (3) calendar years after the end of the calendar year to which the Employee's deferral election relates. By way of example, if Restricted Stock Units are deferred in 2006, the earliest that a Scheduled Distribution could become payable would be during the sixty (60) day period commencing January 1, 2011.
Scheduled Distributions. (i) One-fourth (1/4th) of the Vested Retention Award Account balance shall be distributed to the Participant in a single sum on the third anniversary of the Award Date.
(ii) One-third (1/3rd) of the remaining Vested Retention Award Account balance shall be distributed to the Participant in a single sum on the fourth anniversary of the Award Date.
(iii) The remaining Vested Retention Award Account balance shall be distributed to the Participant in accordance with the Retention Award Distribution Election Form (the “Election Form”) executed by the Participant. In accordance with the Election Form, the remaining Vested Retention Award Account balance shall be paid in a single sum on (A) the fifth anniversary of the Award Date or (B) upon the latest to occur of (x) the fifth anniversary of the Award Date, (y) the date on which the Participant has a Separation from Service, or (z) a specified date (which shall not be later than the date the Participant attains age sixty-five (65)). If a distribution is payable under this paragraph 4(a) on a specified date, the distribution shall be made on that date or within ninety (90) days after that date. If a distribution is payable under clause (iii)(B) of this paragraph 4(a) on account of the Participant’s Separation from Service, the payment shall be made within ninety (90) days after the date that is six months after the Separation from Service.
Scheduled Distributions