Common use of Minimum Tax Distributions Clause in Contracts

Minimum Tax Distributions. Tax distributions in an amount ------------------------- sufficient to pay the federal, state and local Income Tax of the Partners (collectively the "Minimum Tax Distributions" or each, individually, a "Minimum Tax Distribution") shall be made to the Partners as follows: (a) A Minimum Tax Distribution shall be made to Petro Holdings in an amount equal to the Minimum Tax Distributions which are required to be made by Petro Holdings pursuant to the terms and conditions of the Limited Partnership Agreement of Petro Stopping Centers Holdings, L.P. dated July 15, 1999 (the "Petro Holdings Minimum Tax Distribution"); and (b) A Minimum Tax Distribution shall be made to a Partner, other than Petro Holdings, holding a Partnership Interest in an amount equal to the U.S. Taxes Due for such Partner, less Cumulative Minimum Tax Distributions. Notwithstanding the reductions required under this Section 5.2(b) 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. Tax distributions in an amount ------------------------- sufficient to pay the federal, state and local Income Tax of the Partners (collectively the "“Minimum Tax Distributions" ” or each, individually, a "“Minimum Tax Distribution"”) shall be made to the Partners as follows: (a) A Minimum Tax Distribution shall be made to Petro Holdings in an amount equal to the Minimum Tax Distributions which are required to be made by Petro Holdings pursuant to the terms and conditions of the Limited Partnership Agreement of Petro Stopping Centers Holdings, L.P. dated July 15, 1999 (the "“Petro Holdings Minimum Tax Distribution"”); and (b) A Minimum Tax Distribution shall be made to a Partner, other than Petro Holdings, holding a Partnership Interest in an amount equal to the U.S. Taxes Due for such Partner, less Cumulative Minimum Tax Distributions. Notwithstanding the reductions required under this Section 5.2(b) 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.