Allocations and Distributions Sample Clauses
The "Allocations and Distributions" clause defines how profits, losses, and cash or other assets are divided among the parties to an agreement, such as partners in a partnership or members of an LLC. It typically outlines the method for calculating each party's share, the timing and manner of distributions, and any priorities or preferences that may apply. This clause ensures that all parties understand their financial entitlements and obligations, thereby preventing disputes and providing a clear framework for the financial operations of the entity.
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Allocations and Distributions. Distributions of cash or other assets of the Company shall be made at such times and in such amounts as the Members may determine. Distributions shall be made to (and profits and losses of the Company shall be allocated among) Members pro rata in accordance with each of their Profit Sharing Interests, or in such other manner and in such amounts as all of the Members shall agree from time to time and which shall be reflected in the books and records of the Company.
Allocations and Distributions. The LLC's profits and losses shall be allocated to the Member. At the time determined by a majority of the Managers, the Managers may cause the LLC to distribute to the Member any cash held by it which is neither reasonably necessary for the operation of the LLC nor the performance of its contractual obligations, nor which is in violation of Sections 18-607 or 18-804 of the Act or any contractual agreement binding on the LLC.
Allocations and Distributions. Section 6.1 Allocations for Capital Account Purposes. 45 Section 6.2 Allocations for Tax Purposes. 54 Section 6.3 Requirement and Characterization of Distributions; Distributions to Record Holders. 56 Section 6.4 Distributions of Available Cash from Operating Surplus. 56 Section 6.5 Distributions of Available Cash from Capital Surplus. 59 Section 6.6 Adjustment of Minimum Quarterly Distribution and Target Distribution Levels. 59 Section 6.7 Special Provisions Relating to the Holders of Subordinated Units. 59
Allocations and Distributions. Allocations for Capital Account Purposes 48 Section 6.2 Allocations for Tax Purposes 59 Section 6.3 Requirements and Characterization of Distributions; Distributions to Record Holders 62 Section 6.4 Distributions of Available Cash from Operating Surplus 62 Section 6.5 Distributions of Available Cash from Capital Surplus 64 Section 6.6 Adjustment of Minimum Quarterly Distribution and Target Distribution Levels 65 Section 6.7 Special Provisions Relating to the Holders of Subordinated Units 65 Section 6.8 Special Provisions Relating to the Holders of IDR Reset Common Units 66 Section 6.9 Entity-Level Taxation 66 Section 7.1 Management 67 Section 7.2 Replacement of Fiduciary Duties 69 Section 7.3 Certificate of Limited Partnership 69 Section 7.4 Restrictions on the General Partner’s Authority 69 Section 7.5 Reimbursement of the General Partner 70 Section 7.6 Outside Activities 71 Section 7.7 Indemnification 71 Section 7.8 Liability of Indemnitees 73 Section 7.9 Standards of Conduct and Modification of Duties 74 Section 7.10 Other Matters Concerning the General Partner and Indemnitees 76 Section 7.11 Purchase or Sale of Partnership Interests 76 Section 7.12 Registration Rights of the General Partner and its Affiliates 76 Section 7.13 Reliance by Third Parties 78
Allocations and Distributions. Subject to applicable Regulations, upon the transfer of all the Partnership Interests of a Partner as herein provided, the Profit or Loss of the Partnership attributable to the Partnership Interests so transferred for the Fiscal Year in which such transfer occurs shall be allocated between the transferor and transferee as of the effective date of the assignment, and such allocation shall be based upon any permissible method agreed to by the Partners that is provided for in Code Section 706 and the Regulations issued thereunder.
Allocations and Distributions. Allocations for Capital Account Purposes 60 Section 6.2 Allocations for Tax Purposes 66 Section 6.3 Requirement and Characterization of Distributions; Distributions to Record Holders 68
Allocations and Distributions. (Check One) ☐ - Partnership: A majority of the Partners shall vote to determine the timing and amount of any distribution and such determination shall be binding on all partners. ☐ - Limited Partnership: The General Partner shall determine the timing and amounts of distributions and such determination shall be binding on all Partners.
Allocations and Distributions. Any and all profits and losses shall be allocated to the Member. Distributions may be made to the Member as determined by the Member unless otherwise provided by applicable law.
Allocations and Distributions. All Profit and Loss shall be allocated to the Member. Cash shall be distributed to the Member as the Member shall determine from time to time.
Allocations and Distributions. Except as may be required by section 704 (b) and (c) of the Code and the applicable Treasury Regulations, all items of income, gain, loss, deduction, and credit of the Company shall be allocated among the Members, and distributions shall be made, in accordance with this Article 6.