Examples of Excess Distributions in a sentence
The Trustee may not recover any Excess Distributions from the Residual Income Beneficiary once they are paid to the Residual Income Beneficiary except where there has been a manifest error in the relevant calculation of the Excess Distributions.
Once paid to the Residual Income Beneficiary, the Issuer may not recover any Excess Distributions from the Residual Income Beneficiary other than in the circumstances specified in clause 5.3 of the Supplementary Terms Notice.
If, upon the liquidation and dissolution of the Company, any Final Holder has received an Investor IRR of less than seven percent (7%), then each Affiliated Person who has received an Excess Distribution shall re-contribute to the Company such Excess Distributions and such Excess Distributions shall be distributed to such Final Holders until each Final Holder has received an Investor IRR of seven percent (7%).
All Excess Distributions received by Affiliated Persons shall be re-contributed pursuant to section 3.5.1 on a pro rata basis, based on the total amount of Excess Distributions each Affiliated Person has received.
The Fund Manager will issue the invoice no later than 20 business days following the end of the quarter in which the relevant Excess Distributions are executed.