Common use of Regular Distributions Clause in Contracts

Regular Distributions. Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.3, 5.4, and 5.5, the General Partner shall cause the Partnership to distribute, from time to time as determined by the General Partner, but in any event not less frequently than quarterly, all Available Cash, to the Partners, in accordance with each Partner's respective Percentage Interest; provided, however, that in no event may a Partner receive a distribution of Available Cash with respect to an OP Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to a Share for which such OP Unit has been exchanged.

Appears in 3 contracts

Samples: Kramont Realty Trust, Employment Agreement (Cv Reit Inc), Employment Agreement (Kranzco Realty Trust)

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Regular Distributions. Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.3, 5.4, 5.5 and 5.512.2(c), the General Partner shall cause the Partnership to distribute, from time to time as on a quarterly basis (or, at the election of the General Partner, more frequently), an amount of Available Cash, determined by the General Partner, but Partner in any event not less frequently than quarterly, all Available Cash, its sole discretion to the Partners, as of the applicable Partnership Record Date, in accordance with each Partner's respective Percentage Interest; provided, however, that in no event may a Partner receive a distribution of Available Cash with respect to an OP Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to a Share REIT Stock for which such OP Unit has been exchanged.

Appears in 2 contracts

Samples: Contribution Agreement (Tower Realty Trust Inc), Tower Realty Trust Inc

Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.3, 5.4, 5.5 and 5.512.2C, the General Partner shall cause the Partnership to distribute, from time to time as on a quarterly basis (or, at the election of the General Partner, more frequently), an amount of Available Cash, determined by the General Partner, but Partner in any event not less frequently than quarterly, all Available Cash, its sole discretion to the Partners, as of the applicable Partnership Record Date, in accordance with each Partner's respective Percentage Interest; , provided, however, that in no event may a Partner receive a distribution of Available Cash with respect to an OP Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to a Share REIT Stock for which such OP Unit has been exchanged.

Appears in 1 contract

Samples: Meristar Hospitality Corp

Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.3, 5.4, 5.5, and 5.512.2C, the General Partner shall cause the Partnership to distribute, from time to time as on a quarterly basis (or, at the election of the General Partner, more frequently), an amount of Available Cash, determined by the General Partner, but Partner in any event not less frequently than quarterly, all Available Cash, its sole discretion to the Partners, as of the applicable Partnership Record Date, in accordance with each Partner's respective Percentage Interest; , provided, however, that in no event may a Partner receive a distribution of Available Cash with respect to an OP Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to a Share REIT Stock for which such OP Unit has been exchanged.

Appears in 1 contract

Samples: Limited Partnership Agreement (3100 Glendale Joint Venture)

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Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.3, 5.4, 5.5 and 5.512.2(c), the General Partner shall cause the Partnership to distribute, from time to time as on a quarterly basis (or, at the election of the General Partner, more frequently), an amount of Available Cash, determined by the General Partner, but Partner in any event not less frequently than quarterly, all Available Cash, its sole discretion to the Partners, as of the applicable Partnership Record Date, in accordance with each Partner's respective Percentage Interest; provided, however, that in no event may a Partner receive a distribution of Available Cash with respect to an OP Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to a Share REIT Stock for which such OP Unit has been exchanged.

Appears in 1 contract

Samples: Tower Realty Trust Inc

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