Tax Distribution. The Company shall distribute quarterly to the Members in accordance with their Profit Interests, to the extent cash is available to the Company, an amount sufficient to enable the Members (or, if applicable, the owners or members of such Member) to fund their U.S. federal income tax liabilities attributable to their respective distributive shares of net taxable income of the Company (calculated for each Member (or, if applicable, the owners or members of such Member) net of any tax loss of the Company previously allocated to such Member (or, if applicable, the owners or members of such Member) and not previously offset by allocations of taxable income), in each case assuming that each Member (or, if applicable, the owners or members of such Member) is taxable at the highest marginal U.S. federal income tax rate applicable to a corporation. The amounts to be distributed to a Member as a tax distribution pursuant to this Section 6.2 in respect of any Fiscal Year shall be computed as if any distributions made pursuant to Section 6.4 hereof during such Fiscal Year were a tax distribution in respect of such Fiscal Year. Any distribution pursuant to this Section 6.2 shall be deemed to have been made in anticipation of, and shall reduce in a like amount, the respective distributions of the Members otherwise to be made pursuant to Section 6.4 hereof.
Tax Distribution. To the extent cash is available, the Members shall be entitled to receive cash distributions for each taxable year in amounts sufficient to enable each Member to discharge any federal, state and local tax liability for such taxable year or, if applicable, prior years (excluding penalties and interest) arising as a result of their interest in the Company, determined by assuming the applicability to each Member of the highest combined effective marginal federal, state and local income tax rates for any Person actually obligated to report on any tax returns income derived from the Company; the Company shall provide quarterly estimates to each Member of such Member’s tax liability arising as a result of its interest in the Company. To the extent distributions otherwise payable to a Member pursuant to Section 7.1 are insufficient to cover such tax liabilities, the Company shall make cash distributions (the “Tax Distributions”) in amounts that, when added to the cash distributions otherwise payable, shall equal such tax liability. The amount of such tax liability shall be calculated (i) taking into account the deductibility of state and local income taxes for United States federal income tax purposes, and (ii) taking into account the amount of net cumulative tax loss allocated to such Member in prior fiscal years (but after the date hereof) and not used in prior fiscal years (but after the date hereof) to reduce taxable income for the purpose of making distributions under this Section 7.2 (based on the assumption that taxable income or tax loss from the Company is each Member’s only taxable income or tax loss). Tax Distributions shall be treated as advances against distributions to the Members pursuant to Section 7.1. To the extent this Section 7.2 results in distributions other than in the ratio required by Section 7.1, the first distributions of net cash, securities or other property that are not made pursuant to Section 7.2 shall be made so as to cause the aggregate distributions pursuant to Section 7.1, including those made pursuant to Section 7.2, to be, as nearly as possible, in the ratio required by Section 7.1.
Tax Distribution. To the Members in an aggregate amount equal to thirty percent of the Company’s net income for such fiscal year, as determined in accordance with generally accepted accounting principles and reported on the financial statements furnished to each Member pursuant to Section 8.21 of this Operating Agreement. Provided, however, that no distribution pursuant to this Section 6.2(a) (i) will be made if the net income for such fiscal year does not exceed $500,000.00, unless the Board of Managers votes to make a distribution notwithstanding that the net annual income for such fiscal year does not exceed $500,000.00.
Tax Distribution. The term “Tax Distribution” shall have the meaning given to such term in Section 5.1.1.
Tax Distribution. Subject to any applicable restrictions in the Company's loan agreements, within ninety (90) calendar days after the end of each Fiscal Year, the Management Committee shall use reasonable efforts to cause the Company to distribute to the Members an amount equal to the Tax Distribution for the preceding Fiscal Year. The Tax * CONFIDENTIAL TREATMENT REQUEST(ED) 128 Distribution shall be distributed to the Members in accordance with their respective Percentage Interests.
Tax Distribution. For each Fiscal Year the Company will, during such Fiscal Year or the immediately subsequent Fiscal Year, but not later than 90 days following the end of each Fiscal Year, to the extent that there is Available Cash distribute to each Member, with respect to such Fiscal Year, a distribution in an amount equal to such Member’s Presumed Tax Liability for such Fiscal Year (a “Tax Distribution”). Any amount distributed pursuant to this Section 6.5 will be deemed to be an advance distribution of amounts otherwise distributable to the Members pursuant to Sections 6.1 and will reduce the amounts that would subsequently otherwise be distributable to the Members pursuant to such provisions in the order they would otherwise have been distributable. The Board of Managers may distribute Tax Distributions quarterly on an estimated basis prior to the end of a Fiscal Year, but if the amounts so distributed as estimated Tax Distributions exceed the amount of Tax Distributions to which such Member is entitled to for such Fiscal Year, the Member will promptly after the end of the Fiscal Year return such excess to the Company and the excess will be treated as a distribution to such Member pursuant to Section 6.1, as applicable until it is returned.
Tax Distribution. At the election of the Board of Managers, within ten (10) days following the end of each quarter of a Fiscal Year the LLC shall distribute to each Class A Member a cash amount equal to (i) 25% of the Taxable Income Distribution Amount of such Class A Member that the Board of Managers estimates for the entire Fiscal Year; and (ii) with respect to tax payments to be made with income tax returns filed for a full Fiscal Year or with respect to adjustments to such returns imposed by the Internal Revenue Service or other taxing authority, such distribution to the Class A Members shall be equal to the Taxable Income Distribution Amount for such Fiscal Year, less the aggregate amount distributed for such Fiscal Year as provided in clause (i) above. In the event that the amount determined under clause (ii) above is a negative amount (a “Tax Distribution Deficit”), the amount of any Distributions pursuant to this Section 6.3.4 in the succeeding Fiscal Year (or if necessary any subsequent Fiscal Year) shall be reduced by such Tax Distribution Deficit; provided that if a Class A Member stops being a Member while there is a Tax Distribution Deficit with respect to such Class A Member, such Class A Member shall repay such Tax Distribution Deficit to the LLC upon withdrawal from the LLC.
Tax Distribution. Notwithstanding Section 9.01 and to the extent there are funds available, if Net Profit is allocated to the Partners under Article 8 for any Taxable Period, the Management Committee shall endeavor, within ninety (90) days following the close of the Taxable Period for which the Net Profit is so allocated, to make a distribution out of Cash and Securities Available for Distribution to all Partners (including the General Partners) that, when added to all other distributions made to such Partners during such Taxable Period (exclusive of distributions under this Section 9.02 for previous Taxable Periods), will be in an amount sufficient to meet the federal and state tax liability of each Partner, calculated for purposes of this Section 9.02 as if it were equal to the Net Profit allocated for the Taxable Period times the sum of the maximum federal tax rate for individuals plus the maximum California tax rate for individuals.
Tax Distribution. Notwithstanding the provisions set forth in Section 5.2(a), but subject to Section 5.3, the Partnership may, at the option of the General Partner, make distributions to the Limited Partner prior to making the distributions set forth in Section 5.2(a)(ii), to the extent such distributions are needed to pay any income taxes associated with the allocations of Net Income set forth in Section 5.1(a)(i)(3) to the Limited Partner. Any such distributions shall reduce subsequent distributions to be made to the Limited Partner pursuant to Section 5.2(a). In no event shall the General Partner make any tax distributions to the Limited Partner as permitted under this Section 5.2(d) if such distributions are necessary for the General Partner to meet the distribution requirements for qualification as a REIT.
Tax Distribution. (a) Notwithstanding the foregoing, the General Partner shall use commercially reasonable efforts to cause the Entity to reserve from cash available for distribution pursuant to the preceding paragraphs of this Article IV an amount necessary to enable the Partnership to distribute, and the General Partner shall use commercially reasonable efforts to cause the Partnership to distribute, to each Partner with respect to each fiscal year (other than the fiscal tear in which there has been a Liquidating Event) an amount of cash (taking into account all other distributions that the Partner has received with respect to such fiscal year) equal to the Tax Distribution with respect to that Partner for that fiscal year.
