The First Distribution Clause Samples
The First Distribution clause defines the terms and conditions under which the initial payment or allocation of funds is made to parties involved in an agreement. Typically, this clause specifies the timing, amount, and method of the first distribution, such as distributing proceeds from a sale or investment to stakeholders once certain conditions are met. By clearly outlining how and when the first distribution occurs, this clause ensures transparency and helps prevent disputes regarding the initial allocation of funds.
The First Distribution. On the date hereof immediately after the consummation of the Contribution, the First Redemption and the actions set forth in Section 2.6, Lazard Group shall effect the First Distribution by distributing to LAZ-MD as the sole Lazard Group Common Member the entire LFCM Common Interest held by Lazard Group in accordance with the New Lazard Group Operating Agreement. Immediately after the First Distribution, Lazard Group shall cease to be a member of LFCM and bound by the LFCM Operating Agreement and LAZ-MD shall simultaneously be admitted to LFCM as a member and bound by the LFCM Operating Agreement.
The First Distribution. On the date hereof immediately after the consummation of the Contribution, the First Redemption and the actions set forth in Section
The First Distribution. On or prior to the Distribution Date (as hereinafter defined), but in all events prior to the Contribution and the Second Distribution, TRB will, and it hereby agrees to, declare a dividend to USBANCORP of all of the issued and outstanding capital stock of SMC.
The First Distribution