Common use of Priority Payments Clause in Contracts

Priority Payments. Before any distributions are made under Section 6.3, the Partnership, as such times as the General Partner reasonably determines, will pay the Partnership’s available cash after required third-party debt service payments, as reasonably determined by the General Partner, in the order and priority set forth below:

Appears in 2 contracts

Sources: Limited Partnership Agreement (Stratus Properties Inc), Limited Partnership Agreement (Stratus Properties Inc)

Priority Payments. Before any distributions are made under Section 6.3, the Partnership, as at such times as the General Partner reasonably determines, will pay the Partnership’s available cash after required third-party debt service payments, as reasonably determined by the General Partner, Net Cash Flow in the following order and priority set forth belowpriority:

Appears in 2 contracts

Sources: Limited Partnership Agreement (Stratus Properties Inc), Limited Partnership Agreement (Stratus Properties Inc)