Delaying Distributions Sample Clauses

Delaying Distributions. If (i) any default (other than a notification or delivery default) shall have occurred and be continuing under any of the Loan Documents, or if Insight in good faith determines that such a default under any of the Loan Documents is reasonably likely to occur, and (ii) Insight determines in good faith that, as a result of such existing or anticipated default, it would be in the best interests of the Company for the Company not to make any distribution required pursuant to Section 4.1(a)(i), Section 4.1(a)(ii), or Section 4.1(a)(iii), and (iii) Insight notifies the Principals in writing that it has made such determination, then Insight may cause the Company not to make such distribution until such time as Insight shall have determined that it is no longer in the best interests of the Company for the Company not to make such distribution. To the extent, but only for so long as, Insight is authorized by this Section 4.1(f) to cause the Company not to make such distribution, then (i) neither Insight nor the Company shall have any liability to the holder of the Preferred A Interest or the holder of the Preferred B Interest as a result of the Company's failure to make any distribution required pursuant to Section 4.1(a)(i), Section 4.1(a)(ii), or Section 4.1(a)(iii), and (ii) the Company's failure to make such distribution shall not constitute a Capital Default. The provisions of Section 4.1(b) shall apply to the Company's failure to make any distribution required pursuant to Section 4.1(a)(i), Section 4.1(a)(ii), or Section 4.1(a)(iii) notwithstanding Insight's rights under this Section 4.1(f) to cause the Company not to make any such distribution.
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Related to Delaying Distributions

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority: (i) First, to creditors of the Series, including the Members who are creditors, to the extent otherwise permitted by law, in satisfaction (whether by payment or the making of reasonable provision for payment thereof) of all debts, liabilities, obligations and expenses of the Series, including, without limitation, the expenses incurred in connection with the liquidation of the Series; and (ii) Second, to the Members pro rata in proportion to their holdings of Shares, with such Distributions to be made by the end of the Fiscal Year during which the liquidation occurs (or, if later, ninety (90) days after the date of the liquidation).

  • Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.

  • Distributions Distributions shall be made to the Member at the times and in the aggregate amounts determined by the Member. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to the Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.

  • REMIC Distributions On each Distribution Date the Trustee shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 5.07 hereof.

  • Required Distributions Except in the case of a special needs beneficiary, the assets of the ▇▇▇▇▇▇▇▇▇ ESA are required to be distributed to the designated beneficiary within 30 days of the designated beneficiary’s attainment of age 30. The designated beneficiary will be subject to both income tax and an additional 10 percent penalty tax on the portion of the distribution that represents earnings, if the designated beneficiary does not have any qualified education expenses in that year. Any balance remaining in the ▇▇▇▇▇▇▇▇▇ ESA upon the death of the designated beneficiary will be distributed within 30 days of the designated beneficiary’s death, unless a death beneficiary is named and the death beneficiary is a qualified family member under age 30. If the death beneficiary is a qualified family member under age 30, that individual will become the designated beneficiary as of the date of death. Qualified family members include the designated beneficiary’s child, grandchild, or ▇▇▇▇▇▇▇▇▇, brother, sister, stepbrother, or stepsister, nephew or niece, parents, stepparents, or grandparents, uncle or aunt, spouses of all the family members listed above, cousin, and the designated beneficiary’s spouse. If a qualified family member becomes the designated beneficiary, the custodian, if it so chooses for any reason (e.g., due to limitations of its charter or bylaws), may require a total distribution of the ▇▇▇▇▇▇▇▇▇ ESA by December 31 of the year following the year of the original designated beneficiary’s death.