MANDATORY QUARTERLY DISTRIBUTIONS. Subject to Section 8.1(d), within 45 days following the end of each calendar quarter, an amount equal to 100% of Available Cash with respect to such quarter (or period) shall be distributed by the Company to the Shareholders (i) in accordance with the rights and preferences of the Member Interests set forth in Article 4 and (ii) in accordance with Section 8.1, as of the Record Date selected by the Board of Directors.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Kaneb Services LLC), Limited Liability Company Agreement (Kaneb Services LLC)