Guaranteed Variable Distributions Sample Clauses

Guaranteed Variable Distributions. Subject to Section 2(d) but notwithstanding any other provisions of this Agreement to the contrary:
View SourceView Similar (6)
Guaranteed Variable Distributions. Section 2(c) of each of the Partner Agreements is hereby amended by: (i) Substituting the amount “$2,000,000” for the amount “$2,200,000” where such latter amount appears in paragraph (ii) of such Section 2(c); and (ii) Adding the following new paragraph (iii) to the end of such Section 2(c): (iii) Guaranteed Total Amount Commencing with the 2019 Fiscal Year. Effective commencing with the 2019 Fiscal Year and each Fiscal Year thereafter during the Term and thereafter, the sum of the amount of the Limited Partner’s Variable Distribution in respect of each such Fiscal Year and the Quarterly Payments relating to each such Fiscal Year shall equal $2,000,000 (such annual amount in respect of each such Fiscal Year is referred to herein as a “Guaranteed Amount”). Unless otherwise determined in the sole discretion of the Chief Executive Officer, the portions of the Variable Distribution Performance Award Amount in respect of any Guaranteed Amount shall be distributed in the form of (i) Current Cash, representing 75% of the Minimum Annual Amount, and (ii) Deferred Cash Interests and an Annual RSU Award, representing in the aggregate 25% of the Guaranteed Amount, with the actual percentage for each of the Deferred Cash Interests and Annual RSU Award to be determined in the sole discretion of the Compensation Committee and the Chief Executive Officer.”
View Source

Related to Guaranteed Variable Distributions

  • Liquidation Distributions All property and all cash in excess of that required to discharge liabilities as provided in Section 12.4(b) shall be distributed to the Partners in accordance with, and to the extent of, the positive balances in their respective Capital Accounts, as determined after taking into account all Capital Account adjustments (other than those made by reason of distributions pursuant to this Section 12.4(c)) for the taxable year of the Partnership during which the liquidation of the Partnership occurs (with such date of occurrence being determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(g)), and such distribution shall be made by the end of such taxable year (or, if later, within 90 days after said date of such occurrence).

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Distributions; ▇▇▇▇▇▇ ▇▇▇ Guaranty On or before each Determination Date (or as soon thereafter as is reasonably practicable), ▇▇▇▇▇▇ Mae shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, ▇▇▇▇▇▇ ▇▇▇ shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, ▇▇▇▇▇▇ Mae shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then ▇▇▇▇▇▇ ▇▇▇ shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.

  • Payment of Distributions Subject to the preferential rights of Holders of any class or series of Partnership Interests of the Partnership now or hereafter issued and outstanding, ranking senior to the Series B Preferred Units with respect to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series B Preferred Units, shall be entitled to receive, when, as and if authorized by the General Partner, out of Available Cash, cumulative cash distributions in an amount equal to the aggregate Series B Priority Return attributable to such Series B Preferred Units in accordance with this Article 19. Such distributions shall accrue and be cumulative from and including the first date on which any Series B Preferred Units are issued or, if later, the most recent Series B Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series B Distribution Record Date has passed), and shall be payable (i) quarterly in arrears, on the last calendar day of March, June, September and December, of each year commencing on or about March 30, 2018, and, (ii), in the event of a redemption of Series B Preferred Units, on the redemption date (each a “Series B Preferred Unit Distribution Payment Date”); provided, however, if any Series B Preferred Unit Distribution Payment Date is not a Business Day, then the distribution which would otherwise have been payable on such Series B Preferred Unit Distribution Payment Date may be paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding Business Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if paid on such Series B Preferred Unit Distribution Payment Date, and no interest or additional dividends or other sums shall accrue on the amount so payable from such Series B Preferred Unit Distribution Payment Date to such next succeeding Business Day.