Common use of Distribution of Cash Available for Distribution Clause in Contracts

Distribution of Cash Available for Distribution. A. Cash Available for Distribution with respect to each Fiscal Year shall be distributed at least semi-annually, not later than October 31st of each Fiscal Year and April 15th of each succeeding Fiscal Year, as follows: (i) first, 100% to the Limited Partners until the Limited Partners shall have received with respect to such Fiscal Year an amount equal to the Limited Partners' 10% Preferred Distribution; (ii) second 100% to the General Partner until the General Partner shall have received with respect to such Fiscal Year an amount equal to 1/99 multiplied by the amount distributed to the Limited Partners pursuant to Section 4.06A(i) with respect to such Fiscal Year; and (iii) third, through and including the end of the Accounting Period during which the General Partner and the Limited Partners have received cumulative distributions of Capital Receipts pursuant to Sections 4.07 (ii) and 4.08A(ii) equal to $37,626,263 (of which the Limited Partners' portion would equal $50,000 per Unit), 1% to the General Partner and 99% to the Limited Partners, and thereafter, 20% to the General Partner and 80% to the Limited Partners. B. In determining the amount of the distribution to be made on or before October 31st of each Fiscal Year, the General Partner shall estimate the Cash Available for Distribution with respect to such Fiscal Year as a result of the first nine Accounting Periods of such Fiscal Year (for 1989, the actual number of Accounting Periods ending prior to September 15) and shall reduce such amount by such reserves as the General Partner reasonably determines are necessary to provide for the doing operation of the Partnership. The amount of the distribution to be made on or before April 15th of the succeeding Fiscal Year shall be the Cash Available for Distribution for the prior Fiscal Year, reduced by the amount of the distribution made with respect to such Fiscal Year pursuant to the preceding sentence. C. The Limited Partners' 10% Preferred Distribution for 1989 was pro-rated, based upon the number of days in the Fiscal Year from the date of the closing of the offering pursuant to the Private Placement Memorandum. For purposes of Sections 4.06A(i) and (ii), distributions made within 105 days after the end of a Fiscal Year shall be deemed made with respect to such Fiscal Year.

Distribution of Cash Available for Distribution. A. Cash Available for Distribution with respect to each Fiscal Year shall be distributed at least semi-annuallysemiannually, not later than October 31st of each Fiscal Year and April 15th of each succeeding Fiscal Year, as follows: (i) first, 100% to the Limited Partners until the Limited Partners shall have received with respect to such Fiscal Year an amount equal to the Limited Partners' 10% Preferred Distribution, 1% to the General Partner and 99% to the Limited Partners; (ii) second 100% to the General Partner second, until the General Partner shall have received with respect to such Fiscal Year an amount equal to 1/99 multiplied by the amount distributed to the Limited Partners pursuant to Section 4.06A(i) with respect to such Fiscal Year; and (iii) third, through and including the end of the Accounting Period during which the General Partner and the Limited Partners have received cumulative distributions of Capital Receipts pursuant to Sections 4.07 (ii4.06(ii) and 4.08A(ii4.07A(ii) equal to $37,626,263 20,909,091 (of which the Limited Partners' portion would be equal to $50,000 per Unit), 1% to the General Partner and 99% to the Limited Partners; (iii) third, until the Partners have received cumulative distributions of Capital Receipts pursuant to Sections 4.06(ii) and 4.07A(ii) equal to $41,818,182 (of which the Limited Partners' portion would be equal to $100,000 per Unit), 10% to the General Partner and 90% to the Limited Partners; and (iv) thereafter, 20% to the General Partner and 80% to the Limited Partners. B. For purposes of Section 4.05A(i) above, distributions made within 105 days after the end of a Fiscal Year shall be considered made with respect to such prior Fiscal Year. C. In determining the amount of the distribution to be made on or before October 31st of each Fiscal Year, the General Partner shall estimate the Cash Available for Distribution with respect to such Fiscal Year as a result of the first nine Accounting Periods of such Fiscal Year (for 19891990, the actual number of Accounting Periods ending prior to September 15) 8) and shall reduce such amount by such reserves as the General Partner reasonably determines are necessary to provide for the doing ongoing operation of the Partnership. The amount of the distribution to be made on or before April 15th of the succeeding Fiscal Year shall be the Cash Available for Distribution for the prior Fiscal Year, reduced by the amount of the distribution made with respect to such Fiscal Year pursuant to the preceding sentence. C. D. The Limited Partners' 10% Preferred Distribution for 1989 was the Partnership's initial year of operations will be pro-rated, based upon the number of days in the Fiscal Year from the date of the closing of the offering private placement pursuant to the Private Placement Memorandum. For purposes of Sections 4.06A(i) and (ii)If such private placement pursuant to the Private Placement Memorandum closes in 1989, distributions made within 105 days after the end of a Fiscal Year Partners' 10% Preferred Distribution for 1990 shall be deemed made with respect computed to include the number of days during 1989 from the date of the closing of such Fiscal Yearprivate placement.