Examples of Distributable Cash in a sentence
Subject to applicable law and any limitations contained elsewhere in this Agreement, the Manager may elect from time to time to distribute Distributable Cash to the Member.
Distributions of Distributable Cash from the Company may be made at any time as determined by the Board, in their sole and absolute discretion.
Distributions will only be made to the extent Distributable Cash is available to the Company, as determined by the Board in its sole and absolute discretion, without requiring (i) the sale or pledge of Company assets at a time or on terms that the Board believes are not in the best interests of the Company, or (ii) a reduction in reserves that the Board determines are necessary or desirable for working capital or other Company purposes.
To the extent permitted by applicable Law and hereunder, Distributions to Members may be declared by the Manager out of Distributable Cash or other funds or property legally available therefor in such amounts, at such time and on such terms (including the payment dates of such Distributions) as the Manager in its sole discretion shall determine using such record date as the Manager may designate.
Distributions pursuant to this Article VII will be comprised of (i) Portfolio Company Securities, and/or (ii) Distributable Cash or other securities if and to the extent that, in connection with a Liquidity Event, the Fund receives Distributable Cash or other securities in exchange for Portfolio Company Securities.