Methods of Payment of Distributions Clause Samples

Methods of Payment of Distributions. ‌ (a) Each Unitholder of a Fund shall, subject to Sections 7.3 and 7.7 hereof, receive such Unitholder's Proportionate Share of any distribution of a Fund made in respect of the applicable classes and/or series of Units, other than a Special Distribution contemplated by Section 6.6, by the reinvestment thereof in additional Units of the applicable classes and/or series of Units of a Fund at the Net Asset Value per Unit of the class or series, as applicable, computed for the Valuation Date on which such distribution is made or, if permitted by the Manager, distributed in cash. Payment of amounts owing to Unitholders may be made by wire transfer to an account designated in writing by each Unitholder. If no account has been so designated, the Manager shall be entitled to send a cheque for the required amount by ordinary post addressed to the last address appearing on the Register. In the case of joint registered Unitholders, wire transfers or cheques shall, unless the joint registered Unitholders otherwise direct, be made payable to the order of, or to the account of, all of the said joint registered Unitholders and if more than one address or account appears on the books of a Fund in respect of such joint unitholding, the wire transfer or cheque shall be sent or mailed to the first account or address so appearing. The wire transfer or mailing of cheques as aforesaid shall satisfy and discharge all liability of a Fund, the Trustee and the Manager for the payment represented thereby unless, in the case of a cheque, the cheque is not paid at par on presentation to the payor at Montreal, Quebec, or at any other place where it is by its terms payable. In the event of non-receipt of any cheque by the person to whom it was mailed, the Manager, on proof of the non-receipt and upon satisfactory indemnity being given to it and to a Fund, shall issue to the person a replacement cheque for a like amount. No sales charge shall be payable with respect to Units issued upon the automatic reinvestment of distributions. (b) Immediately following such payment and/or reinvestment of distributions, the number of Units of the relevant classes or series of Units outstanding shall, notwithstanding Section 3.3, be automatically consolidated so that the Series Net Asset Value per Unit after the distribution and/or reinvestment shall be the same as it was immediately before the amount was considered to have been declared as due and payable by a Fund (before any redesignation of Units ...
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Methods of Payment of Distributions. (a) The General Partner shall pay the aggregate amount of any cash distributions directly to Limited Partners or to the Registrar, if applicable, and/or such other Persons as the General Partner shall determine for such purpose. (b) Subject to Section 6.8 and Section 6.11, distributions to Limited Partners pursuant to Section 6.3 and Section 6.9 shall be paid in cash by electronic funds transfer, as directed by the Limited Partner (with any fee for such funds transfer to be borne by ▇▇▇▇▇▇ LP). Unless otherwise indicated, distributions will be paid in cash to Unitholders’ accounts on the Willow Platform, including accounts registered in the names of joint holders. In the event of the non-receipt of any distribution by the Person to whom it is sent, the General Partner or the Registrar on direction of the (c) The amounts of any distributions payable to Limited Partners (including any tax required by law to be deducted therefrom) shall not be included in the assets of Willow LP for the purpose of determining the Net Asset Value per Unit of a class at any Valuation Time after the distribution record date. Notwithstanding the foregoing, the General Partner may apply any amounts payable hereunder to a Limited Partner towards the amount of any fees or charges owing by the Limited Partner. (d) All distributions shall be calculated and paid in Canadian currency or such other currency as the General Partner may determine.
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Related to Methods of Payment of Distributions

  • 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.

  • Methods of Payment Distributions from the Director's Deferral Accounts shall be paid in cash in a single sum unless the Participant elects, at the time a Payment Date is selected pursuant to paragraph 4.1(a) or 4.1(b), to receive the amount payable in generally equal quarterly installments over a period not to exceed ten (10) years. In addition, at least one year before the Payment Date, a Director may change the method of payment previously selected.

  • Distribution of Payments On and after the Effective Date, the Agent shall make all payments under the Loan Documents in respect of each Assigned Interest (a) in the case of amounts accrued to but excluding the Effective Date, to Assignor and (b) otherwise, to Assignee.

  • Requirement and Characterization of Distributions; Distributions to Record Holders (a) Within 45 days following the end of each Quarter commencing with the Quarter ending on September 30, 2005, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 17-607 of the Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the General Partner. All amounts of Available Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Section 17-607 of the Delaware Act. (b) Notwithstanding Section 6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

  • Method of Payments Any amount due under this Guarantee shall be paid: (a) in immediately available funds; (b) to such account as the Security Trustee may from time to time notify to the Guarantor; (c) without any form of set-off, cross-claim or condition; and (d) free and clear of any tax deduction except a tax deduction which the Guarantor is required by law to make.