Additional First Year Minimum definition
Examples of Additional First Year Minimum in a sentence
The Additional First Year Minimum Amount is an amount equal to the Retained Liabilities, plus interest (and any other amounts) accruing on, or due in respect of, such Retained Liabilities through the date of distribution of the Additional First Year Minimum Amount.
In 1997 only, in addition to the other distributions provided for herein, the limited partnership shall distribute to the Limited Partner cash in an amount equal the Additional First Year Minimum Amount.
Immediately upon receipt of payment of all or any portion of the Additional First Year Minimum Amount distribution, the Limited Partner shall pay the Retained Liabilities (plus interest thereon and any amounts due in respect thereof to the creditor accruing through the date of such receipt of all or such portion of the Additional First Year Minimum Amount distribution) to the extent of the amount so received.
The General Partner shall notify the Limited Partner three Business Days prior to each distribution of all or any portion of the Additional First Year Minimum Amount, specifying the amount thereof and the Retained Liabilities to be repaid therefrom.