Surplus Distributions definition
Surplus Distributions for a particular IRR Rate means all Westgate Distributions under the applicable subsections of Section 6.02 on or after the Effective Date (excluding the amounts, if any, distributable under Section 6.06). The applicable subsections are as follows: if the IRR Rate is 8% per annum, then the applicable subsections are Section 6.02(e), Section 6.02(f) and Section 6.02(g); if the IRR Rate is 12% per annum, then the applicable subsections are Section 6.02(f) and Section 6.02(g); and if the IRR Rate is 20% per annum, then the applicable subsection is Section 6.02(g).
Examples of Surplus Distributions in a sentence
Surplus Distributions shall be made quarterly no later than ten (10) calendar days after the most recent quarterly meeting and shall be subject to the attached Escrow Instructions.
Pursuant to the terms of the Settlement Agreement as amended, representatives of the Village, District 97, and District 200 shall meet quarterly to determine Surplus Distributions.