Common use of Third Tier Distributions Clause in Contracts

Third Tier Distributions. To the extent of any Net Cash Receipts remaining after payment of the First Tier Distributions and Second Tier Distributions, any additional Net Cash Receipts shall be paid to the General Partner (“Third Tier Distributions”). No Third Tier Distributions shall be paid at any time that any First Tier Distributions and Second Tier Distributions then due under the terms of this Agreement have not been paid to the Limited Partner or if there are any unpaid loans from the Partnership to the General Partner. In no event shall any Third Tier Distribution be made unless there is undistributed profit in the amount of such Third Tier Distribution after deduction of First Tier Distributions through that time.

Third Tier Distributions. To the extent of any Net Cash Receipts remaining after payment of the First Tier Distributions and Second Tier Distributions, any additional Net Cash Receipts shall be paid to the General Partner (“Third Tier Distributions”). No Third Tier Distributions shall be paid at any time that any First Tier Distributions and Second Tier Distributions then due under the terms of this Agreement have not been paid to the Limited Partner Partners or if there are any unpaid loans from the Partnership to the General Partner. In no event shall any Third Tier Distribution be made unless there is undistributed profit in the amount of such Third Tier Distribution after deduction of First Tier Distributions through that time.

Third Tier Distributions. To the extent of any Net Cash Receipts remaining after payment of the First Tier Distributions and Second Tier Distributions, any additional Net Cash Receipts shall be paid to the General Partner (“Third Tier Distributions”). No Third Tier Distributions shall be paid at any time that any First Tier Distributions and Second Tier Distributions then due under the terms of this Agreement have not been paid to the Limited Partner or if there are any unpaid loans from the Partnership to the General Partner. In no event shall any Third Tier tier Distribution be made unless there is undistributed profit in the amount of such Third Tier Distribution after deduction of First Tier Distributions through that time.