Distributions or Withdrawals. (a) The Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar year as follows:
Distributions or Withdrawals. (a) The Awardee shall not, without the prior written approval of RUS, make any membership withdrawal, unit redemptions, or other type of profit allocation to its members, if it is a limited liability company, nor make any dividend, stock, capital, capital credit or other distribution in the nature of an investment, guarantee, extension of credit, loan or advance payment on obligations, if it is a corporation or cooperative (all such distributions being hereinafter collectively called "Distributions"); provided, however, the Awardee may make a Distribution after 75% of the Loan funds have been expended as approved if after such Distribution, the Awardee's Net Worth is equal to at least twenty percent (20%) of its Total Assets and the amount of all such Distributions during the calendar year does not exceed twenty-five percent (25%) of the Awardee's Net Income or Net Margins for the prior calendar year.
Distributions or Withdrawals. Before Project Completion, the Subrecipient shall not, without the prior written approval of the Department or granted a waiver request for publicly traded companies by the Department, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocated to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each fiscal year as follows:
Distributions or Withdrawals. (a) The Borrower shall not, without the prior written approval of RUS, make any membership withdrawal, unit redemptions, or other type of profit allocation to its members, if it is a limited liability company, nor make any dividend, stock, capital, capital credit or other distribution in the nature of an investment, guarantee, extension of credit, loan or advance payment on obligations, if it is a corporation or cooperative (all such distributions being hereinafter collectively called "Distributions"); provided, however, the Borrower may make a Distribution after 75% of the Loan funds have been expended as approved if after such Distribution, the Borrower’s Net Worth is equal to at least twenty percent (20%) of its Total Assets and the amount of all such Distributions during the calendar year does not exceed twenty-five percent (25%) of the Borrower’s Net Income or Net Margins for the prior calendar year.
Distributions or Withdrawals. (a) (b)(4) (b)
Distributions or Withdrawals. (a) Corporations and Cooperatives. Corporate and cooperative Borrowers shall not, without the prior written approval of RUS, make any dividend, stock, capital, capital credit or other distribution in the nature of an investment, guarantee, extension of credit, loan or advance payment on obligations, (all such distributions being hereinafter collectively called "Distributions"); provided, however, the Borrower may make a Distribution if after such Distribution, the Borrower's Net Worth is equal to at least twenty percent (20%) of its Total Assets and the amount of all such Distributions during the calendar year does not --- exceed twenty-five percent (25%) of the Borrower's Net Income or Net Margins for the prior calendar year.
Distributions or Withdrawals. Before Project Completion, the Awardee shall not, without the prior written approval of RUS, make any dividend, stock, or capital distribution, or any membership withdrawals, unit redemptions, or other type of profit allocation to its members, or other distribution in the nature of an investment, guarantee, extension of credit, advance, or loan, nor make a capital credit distribution (all such distributions being hereinafter collectively called “Distributions;”) provided, however, Distributions may be made in each calendar year as follows:
