Distributions of Excess Cash. The Owner agrees that no distributions of cash to Owner or any other party designated by Owner from the Operating Account except in accordance with the following: Full payment of the following items in the following order has occurred:
Distributions of Excess Cash. Within forty-five (45) days from the end of each of Parent's fiscal quarters ending subsequent to the Escrow Release Date until the third anniversary of Closing (at which time this Section 1.12(b) shall expire), Parent shall make a Payment of Excess Cash to the Payment Agent for the benefit of the Parent Closing Date Shareholders, in an aggregate amount equal to any Excess Cash remaining after payment of all Escrow Liabilities arising prior to the Escrow Release Date; provided that such Payment will be made pursuant to Section 302A.551 of the Minnesota Business Corporation Act ("MINN. BUS. CORP. ACT") with a record date as of immediately prior to the Effective Time and no such Payment shall be made if and to the extent that it would violate Section 551 of the Minn. Bus. Corp. Act; provided, that any such Payment that is otherwise available to be made shall first be reduced by an amount by which any previous Escrow Funds to be distributed would have been reduced but were not so reduced because the Escrow Funds were not large enough to cover all of such reduction (i.e., the amount by which Escrow Liabilities exceeded Escrow Funds otherwise available for distribution). Parent may in its sole discretion, elect not to make any Payment of Excess Cash until the aggregate amount of Excess Cash would result in a Payment of Excess Cash of at least ten million dollars ($10,000,000.00), but once such threshold is exceeded all Excess Cash including such threshold amount shall be distributed.
Distributions of Excess Cash. If the governing instrument permits addi- tions of cash to the trust pursuant to paragraph (c)(5)(ii)(A)(1) of this sec- tion, the governing instrument must require that the trustee determine, not less frequently than quarterly, the amounts held by the trust for payment of expenses in excess of the amounts permitted by that paragraph and must require that those amounts be distrib- uted immediately thereafter to the term holder. In addition, the governing instrument must require, upon termi- nation of the term holder’s interest in the trust, any amounts held by the trust for the purposes permitted by paragraph (c)(5)(ii)(A)(1) of this section that are not used to pay trust expenses due and payable on the date of termi- nation (including expenses directly re- lated to termination) be distributed outright to the term holder within 30 days of termination.
Distributions of Excess Cash. Except as otherwise provided in this Section 7.1, and subject to applicable law, upon payment in full of all outstanding principal of, and any accrued but unpaid interest on, any Cash Shortfall Loan and/or Capital Loans, the Company shall make cash distributions of Excess Cash in accordance with the following sentence, with such distributions, if any, to be paid following [***] and after each subsequent fiscal quarter (with payment of any such distributions occurring no later than the thirtieth (30th) *** Note: Confidential treatment has been requested with respect to the information contained within the [***] marking. Such portions have been omitted from this filing and have been files separately with the Securities and Exchange Commission. day after the Board’s determination of the amount of any such distributions pursuant to the following sentence, and in no event later than the ninetieth day following [***] or the end of each such subsequent fiscal quarter). When determining the amount of any distribution, the Board, in consultation with the Netherlands Joint Venture, shall forecast the cash position of the Joint Ventures for the ensuing twelve (12) month period following [***] or the end of such fiscal quarter, as applicable (taking into consideration the Annual Budget, any necessary reserves and such other factors it reasonably deems relevant) and, if such forecasted cash position would allow the Joint Ventures, taken together, to maintain consistently an Available Cash position in excess of $[***] over such twelve (12) month period, the Board, pursuant to this Section 7.1(a), shall cause the Company to distribute its allocable share of any Available Cash that is not needed to maintain such minimum level of Available Cash consistently over such period (such cash to be distributed being referred to as “Excess Cash”), with the allocation thereof between the Joint Ventures being determined by agreement between the Joint Ventures; provided, however, that the Board, if it so reasonably determines, may increase or decrease such $[***] amount in proportion to the amount of any increase or decrease in the Joint Ventures’ cash collections relative to the Joint Ventures’ cash collections for the preceding twelve months. Subject to Section 4.3 and Section 4.4, distributions of Excess Cash shall be distributed to the Members in proportion to their respective Percentage Interests.
Distributions of Excess Cash. The General Partner shall make an estimate of Excess Cash and make distributions thereof no later than 30 days after the end of each interim quarterly period, except that at the end of the Fiscal Year, the amount of such Excess Cash shall be determined with the advice of the Accountants and the distribution thereof made no later than 75 days after such year end. Excess Cash shall be distributed to the Partners in the following order:
Distributions of Excess Cash. The Management Committee will determine the cash requirements of the Partnership at least semiannually. Distributions of any amount in excess of the cash requirements shall be made only to all Partners simultaneously in proportion to their respective Partner's Percentage at the time of distribution, in such total amounts and at such times as directed by the Management Committee. However, if section 11.1(c) applies, distribution of excess cash shall be made to each nondefaulting Partner in the proportion that its Partner's Percentage bears to the Partner's Percentage of the nondefaulting Partner(s).
Distributions of Excess Cash. Subject to the provisions of this ARTICLE IV, the Company shall make Distributions to the holders of the Class A Common Units and, subject to Section 13.6, Class B Units, in proportion to their Units. Notwithstanding the foregoing, in the event the Board determines that amounts included in a Distribution of Excess Cash are attributable to cash proceeds received from PIH as a distribution of a “Priority Distribution Amount” (within the meaning of the PIH Operating Agreement), the Board may cause such Distribution to be made disproportionately to the Members in its discretion in accordance with both the relative number of Units held by each Member and the relative number of days during the applicable year that each Member has been a Member of the Company.
Distributions of Excess Cash. (a) Any amount of cash which the General Partner does not expect, in its absolute discretion, to reinvest or otherwise use in the operation or business of the Partnership and that is available after the payment of all expenses then due, including, without limitation, the Management Fee and the Expense Allowance and the creation of reasonable reserves for expenses and liabilities (the “Excess Cash”) may, in the General Partner’s absolute discretion, be distributed at such time(s) and in such amounts as the General Partner, in its absolute discretion, shall determine.
Distributions of Excess Cash. (a) Subject to Section 3.4(b) below, distributions of Excess Cash will be made to the Investor Members, pro rata in proportion to their respective Percentage Interests.
Distributions of Excess Cash. From time to time, but at least annually following receipt of cash and operating budgets for the ensuing fiscal year, the Management Committee will determine the cash requirements of the Joint Venture. Distributions of any excess cash as determined by the Management Committee shall be made only to all Joint Venturers simultaneously in proportion to their respective Joint Venture Interests at the time thereof in such amounts and at such times as shall be determined by the Management Committee. Distributions made to any defaulting Joint Venturer during any period in which such defaulting Joint Venturer is in default in the payment of any required Capital Contribution shall be made in the manner provided in Section 3.3.5. Distributions upon liquidation shall be made in accordance with Section 12.4.1.
