Noncash Interim and Liquidating Distributions Sample Clauses

Noncash Interim and Liquidating Distributions. The Partnership shall make noncash interim and liquidating distributions to the Partners only upon the unanimous vote of the Partners. As of the date of the noncash distribution, the Partnership shall adjust the Agreed Value of the property distributed and shall post any resulting Profits or Losses to the Capital Accounts.
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Noncash Interim and Liquidating Distributions. The LLC shall make interim and liquidating distributions to the Members other than in cash only upon the vote of the Managers as prescribed in Section 5.4 below and only in accordance with the Members' Percentage Interests. In the event of a noncash distribution, the Agreed Value of the property to be distributed shall be adjusted and any resulting Profits or Losses shall be posted to the Capital Accounts as of the date the noncash distribution is made.
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Noncash Interim and Liquidating Distributions. Subject to Section 3.4 and Article IX, the Company shall make interim and liquidating distributions to the Members other than in cash only upon the written consent of such Member to receive such noncash distribution. In the event of such a noncash distribution, the Agreed Value of the property to be distributed shall be adjusted and any resulting Profits or Losses shall be posted to the Capital Accounts as of the date the noncash distribution is made.
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Noncash Interim and Liquidating Distributions. The LLC shall make interim and liquidating distributions to the Members other than in cash only upon the vote of the Members specified in Sections 5.3(b)(vi) and 5.3(c) below. Notwithstanding such votes, no Member shall be required to accept a noncash distribution unless such distribution is a distribution with respect to Residual Interests under Section 3.2(d) and all Members receive a proportionate interest in each item of property distributed based upon their Residual Interests. In the event of such a noncash distribution, the Agreed Value of the property to be distributed shall be determined, and any resulting Profits or Losses shall be posted to the Capital Accounts as of the date the noncash distribution is made. Distributions pursuant to this Section 3.4 shall be made in the priority set forth in Sections 9.3 and 3.2 and for purposes of Sections 9.3 and 3.2, noncash distributions shall be deemed to constitute distributions to the extent of the Agreed Value of the distributed property.
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Related to Noncash Interim and Liquidating Distributions

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority: (i) First, to creditors of the Series, including the Members who are creditors, to the extent otherwise permitted by law, in satisfaction (whether by payment or the making of reasonable provision for payment thereof) of all debts, liabilities, obligations and expenses of the Series, including, without limitation, the expenses incurred in connection with the liquidation of the Series; and (ii) Second, to the Members pro rata in proportion to their holdings of Shares, with such Distributions to be made by the end of the Fiscal Year during which the liquidation occurs (or, if later, ninety (90) days after the date of the liquidation).

  • Character of Liquidating Distributions All payments made in liquidation of the interest of a Unit Holder in the Company shall be made in exchange for the interest of such Unit Holder in Property pursuant to Section 736(b)(1) of the Code, including the interest of such Unit Holder in Company goodwill.

  • Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.

  • 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.

  • Liquidating Dividends If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Registered Holder on the Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.