Discretionary Distribution definition

Discretionary Distribution means a distribution that a Trustee has the Discretion to make or withhold.

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Discretionary Distribution has the meaning set forth in Section 5.3(b)(ii).

Discretionary Distribution means any Distribution that is not a Mandatory Distribution.

Examples of Discretionary Distribution in a sentence

• Declare or make any Distributions provided that Borrower may make Distributions to Parent so long as prior to and after giving pro forma effect to such Distribution (a) no Event of Default has occurred and is continuing, or would result from such Distribution, and (b) if such Distribution is a Discretionary Distribution, Availability is greater than or equal to $500,000.

• As between the Limited Partners holding Series A Preference Units and the Limited Partners holding Series B Preference Units, any distributions under this Section 5.5(a)(i) shall be allocated (x) first, based on the Preference Unit Sharing Ratios until there has been distributed in respect of each Series B Preference Unit then Outstanding an amount up to (but not in excess of) the Series B Preference Unit Discretionary Distribution Amount and (y) then, 100% to the Series A Preference Units.

• After January 29, 2023, the making of any Discretionary Distribution shall require Majority Approval.

• After the death of , the Trustee shall direct the Retirement Plan Administrator to substitute the following person(s) as designated beneficiary(ies) of the Retirement Account: Discretionary Distribution by Trustee.

• For the avoidance of doubt, from and after January 29, 2023, the making of any Discretionary Distribution shall require a Level Four Approval.

• No Required Distribution or Discretionary Distribution shall be declared and paid unless, after the distribution is made, the assets of the Company are in excess of all liabilities of the Company, except liabilities to Members on account of their Capital Accounts.

• The Plan Administrator shall establish a Deferral Account for each Participant for each Plan Year for which the Participant makes a Deferral Election and elects to defer all or a portion of his Compensation earned with respect to Services performed by the Participant during such Plan Year or receives a Discretionary Distribution from the Plan Sponsor.

• After January 29, 2023, the making of any Discretionary Distribution shall require a Level Four Approval.

More Definitions of Discretionary Distribution

Discretionary Distribution means a distribution (either interim or final) to the extent it exceeds the amount of a Mandatory Distribution in respect of a Distribution Period;