Common use of Minimum Tax Distributions Clause in Contracts

Minimum Tax Distributions. Pursuant to this Section 5.2, a ------------------------- distribution for the payment of federal, state and local Income Taxes for a Partner (a "Minimum Tax Distribution") for each applicable period shall be made to a Partner holding a Common Partnership Interest in an amount equal to the U.S. Taxes Due for such Partner, less Cumulative Minimum Tax Distributions. In addition, any Minimum Tax Distributions for a current Fiscal Year shall be reduced by any other distributions made to a Partner with respect to its Common Partnership Interest but shall not be reduced for distributions, if any, made with respect to a Partner's Preferred Partnership Interest. Notwithstanding the reductions required under this Section 5.2, in no event will a Partner receive a distribution with respect to Minimum Tax Distributions in an amount less than needed to pay such Partner's Current U.S. Taxes Due. (a) only with respect to Net Profits Allocations on or after January 1, 1999. Minimum Tax Distributions and all factors relevant to the determination thereof shall be determined on a consolidated basis with the Partnership's subsidiaries.

Minimum Tax Distributions. Pursuant to this Section 5.2, a ------------------------- distribution for the payment of federal, state and local Income Taxes for a Partner (a "“Minimum Tax Distribution"”) for each applicable period shall be made to a Partner holding a Common Partnership Interest in an amount equal to the U.S. Taxes Due for such Partner, less Cumulative Minimum Tax Distributions. In addition, any Minimum Tax Distributions for a current Fiscal Year shall be reduced by any other distributions made to a Partner with respect to its Common Partnership Interest but shall not be reduced for distributions, if any, made with respect to a Partner's ’s Preferred Partnership Interest. Notwithstanding the reductions required under this Section 5.2, in no event will a Partner receive a distribution with respect to Minimum Tax Distributions in an amount less than needed to pay such Partner's ’s Current U.S. Taxes Due. (a) only with respect to Net Profits Allocations on or after January 1, 1999. Minimum Tax Distributions and all factors relevant to the determination thereof shall be determined on a consolidated basis with the Partnership's ’s subsidiaries.