Tax Distributions definition
Examples of Tax Distributions in a sentence
The amounts in respect of Tax withholding on payments to or from the Company for which Members (or as appropriate, the direct or indirect partners or members of the Members) are credited under applicable Tax law shall be treated as Tax Distributions paid to such Members.
The amount of all Tax Distributions under this Section 4.01(d) will be treated as advances of any Distributions payable to the Members pursuant to Section 4.01(a)(ii) or Section 4.01(b)(v), as applicable, and shall reduce the amounts that would subsequently otherwise be distributed to the Members pursuant to Section 4.01(a)(ii) or Section 4.01(b)(v), as applicable.
Prior to making any Tax Distributions, the Company shall provide each Member with reasonable advance notice of the amount of such Member’s Tax Distribution and such Member may elect, by notifying the Company in writing, to waive all or any portion of such upcoming Tax Distribution.
Notwithstanding the foregoing, if a Potential Default or an Event of Default has occurred and is continuing or will occur as a result of such Distribution, no loanDepot Party shall make any Distribution other than Permitted Tax Distributions, without the prior written consent of Buyer.