Amount available for distribution Clause Samples
The 'Amount available for distribution' clause defines the total sum of money or assets that can be distributed among parties, such as shareholders, partners, or beneficiaries, under a contract or agreement. This clause typically outlines how the distributable amount is calculated, often after deducting expenses, liabilities, or other specified obligations. For example, in a partnership agreement, it may specify that profits remaining after payment of debts and operational costs are available for distribution to partners according to their ownership percentages. The core function of this clause is to ensure transparency and fairness in how and when funds are allocated, preventing disputes by clearly establishing the basis for distributions.
Amount available for distribution. A Participant may receive a Hardship distribution of any portion of his/her vested Employer Contribution Account or Employer Matching Contribution Account (including earnings thereon), as permitted under Part 10 of the Agreement. A Participant may receive a Hardship distribution of any portion of his/her Section 401(k) Deferral Account, if permitted under Part 10 of the Agreement, provided such distribution, when added to other Hardship distributions from Section 401(k) Deferrals, does not exceed the total Section 401(k) Deferrals the Participant has made to the Plan (increased by income allocable to such Section 401(k) Deferrals that was credited by the later of December 31, 1988 or the end of the last Plan Year ending before July 1, 1989). A Participant may not receive a Hardship distribution from his/her QNEC Account, QMAC Account, Safe Harbor Nonelective Contribution Account or Safe Harbor Matching Contribution Account.
Amount available for distribution. A Participant may receive a distribution on account of an Unforeseeable Emergency of any portion of such Participant’s vested benefit (including earnings thereon) up to the amount reasonably necessary to satisfy the emergency need (which may include any amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from the distribution).
Amount available for distribution. Under the proposed settlement, the Defendants will pay an all-inclusive amount of $7 million agreed at mediation and two additional amounts as follows: (i) an additional $28,928.34 which is the amount agreed to in relation to certain data adjustments provided following mediation, and (ii) an additional amount to be calculated for the former employees who left ▇▇▇▇▇▇▇▇▇▇ between September 17, 2024 and the date that this Settlement Agreement is fully executed, which will compensate them for the negative vacation bank shown in ▇▇▇▇▇▇▇▇▇▇’ records (“Gross Settlement Funds”) to former employees who left Desjardins prior to signing this settlement agreement with negative vacation balances. The Gross Settlement Funds and less court-approved legal fees, funding fees, disbursements, honorarium, administration expenses and applicable taxes are available for compensation to eligible Settlement Class Members (“Net Settlement Funds”).
Amount available for distribution. We may only make distributions to our shareholders if our shareholders’ equity exceeds the sum of the paid-in and called-up share capital plus the reserves as required to be maintained by Dutch law or by the Articles of Association. Under the Articles of Association, the management board may resolve, subject to the approval of the supervisory board, to reserve the profits or part of the profits. After reservation by the management board of any profit, the remaining profit will be at the disposal of the general meeting of shareholders. We only make a distribution of dividends to our shareholders after the adoption of our annual accounts demonstrating that such distribution is legally permitted. The management board may resolve, with the approval of the supervisory board, to make interim distributions to the shareholders if an interim statement of assets and liabilities shows that Affimed’s shareholders’ equity exceeds the sum of the paid-up and called-up part of the capital and the reserves which must be maintained by Dutch law. Dividends and other distributions shall be made payable no later than thirty days after the date when they were declared, unless the corporate body authorized to declare the dividend determines a different date. Claims to dividends and other distributions not made within five years and one day after the date that such dividends or distributions became payable, shall be forfeited to us (verjaring) and shall be carried to the reserves. We do not anticipate paying any cash dividends for the foreseeable future.