Quarterly Advances. During the Term, OZ Management LP shall make a cash payment to the Limited Partner with respect to each quarter of each Fiscal Year during the Term (a “Quarterly Advance”) equal to $1,000,000, with such Quarterly Advances being distributed in advance on January 1, April 1, July 1 and October 1 of such Fiscal Year; provided that, in the General Partner’s discretion, some or all of the Operating Partnerships may make any Quarterly Advance; and provided, further, that the Additional Payment (as defined in the 2017 Partner Agreement) which has already been made in respect of the first quarter of Fiscal Year 2018 shall be treated as a Quarterly Advance for such quarter for all purposes of this Agreement. As determined by the General Partner, any portion of the Annual Bonus that would otherwise be made to the Limited Partner by any of the Operating Partnerships shall be reduced by the aggregate amount of Quarterly Advances made to the Limited Partner by such Operating Partnership in respect of the same Fiscal Year, but not below zero and without duplication. For the avoidance of doubt, distributions made to the Limited Partner or his Related Trusts in respect of their Common Units or RSUs shall not reduce or be netted against the Quarterly Advances or the Annual Bonus. Each Quarterly Advance shall be structured in a manner that is comparable from a tax perspective to other quarterly advances with comparable terms payable for the applicable quarter to other Active Individual LPs.
Quarterly Advances. Commencing with the Admission Date and prior to the Withdrawal or Special Withdrawal of the Limited Partner, OZ Management LP shall make a cash distribution of profits to the Limited Partner with respect to each quarter of such Fiscal Year (a “Quarterly Advance”) equal to $125,000, with such Quarterly Advances being distributed in advance on January 1, April 1, July 1 and October 1 of such Fiscal Year; provided that, in the General Partner’s discretion, some or all of the Operating Partnerships may make any Quarterly Advance; and provided, further, that the first Quarterly Advance shall include the amount accrued for the period from the Admission Date through December 31, 2016, inclusive. As determined by the General Partner, any portion of the PSI Cash Distribution in respect of any Fiscal Year (excluding any Deferred Cash Interests) that would otherwise be made to the Limited Partner by any of the Operating Partnerships shall be reduced by the aggregate amount of Quarterly Advances made to the Limited Partner by such Operating Partnership in respect of the same Fiscal Year, but not below zero and without duplication; provided, that if the aggregate amount of Quarterly Advances in respect of such Fiscal Year distributed by any Operating Partnership is greater than the portion of the PSI Cash Distribution that would otherwise be payable by such Operating Partnership in respect of such Fiscal Year, the Performance Cash Distribution (as defined below) (excluding any Deferred Cash Interests) or any other cash distributions that would otherwise be made by such Operating Partnership to the Limited Partner in respect of such Fiscal Year may be reduced by the amount of such deficit, but not below zero and without duplication. If the aggregate amount of Quarterly Advances made in respect of any Fiscal Year exceeds the aggregate reductions made pursuant to the foregoing sentences of this Section 1(d) in respect of the cash distributions (excluding Deferred Cash Interests) for such Fiscal Year, then, in the sole discretion of the PMC Chairman, the portions of the Variable Distribution (as defined below) for such Fiscal Year to be distributed to the Limited Partner in the form of Operating Group D Units and Deferred Cash Interests may be reduced by an aggregate amount of no more than such excess.
Quarterly Advances. Subject to the provisions of section 2.6, during the Ramp Up Term, within 15 Business Days after receiving the Quarterly Capital Expenditures List from XXXX after the end of each Quarter, Sandstorm Barbados shall advance to XXXX the Sandstorm Barbados Portion of the Quarterly Capital Expenditures for the applicable Quarter (up to the Maximum Advance Amount), in respect of the Quarterly Capital Expenditures made. In the first Quarter, the Sandstorm Barbados Portion of the Quarterly Capital Expenditures shall be reflect an adjustment with respect to the Sandstorm Portion of the Quarterly Capital Expenditures for the period between December 1 and December 31, 2012 given that the Execution Date Payment includes only an estimate with respect to the Capital Expenditures in respect of such month.
Quarterly Advances. Lender shall make an Advance on each quarterly Repurchase Date in an aggregate principal amount equal to the product of (i) $6.75, (ii) 90% and (iii) the aggregate Defaulted VOPs represented by, evidencing or securing the Defaulted Receivables purchased by Borrower on such Repurchase Date pursuant to the Repurchase Agreement.
