Subsequent Distribution Sample Clauses

Subsequent Distribution. Subject to the requirements of this Section 5.3, Addison Corporate has the right to further allocate, apportion and otherwise distribute the Unit Consideration among its class A membership on a pro rata basis, and Addison NC has the right to further allocate, apportion and otherwise distribute the Unit Consideration among its Class A and Class B membership (excluding MacKenzie REIT) on a pro rata basis (or to the extent permitted pursuant to Article 15 of the Mackenzie OP LP Agreement, redeem such Class A OP Units for REIT Shares and then distribute REIT Shares). Additionally, subject to the requirements of this Section 5.3, Addison Holdings may transfer 57,162 Units (or REIT Shares to the extent redeemed pursuant to the Mackenzie OP LP Agreement prior to the transfer) to Virtua High Growth Fund III HNW, LLC (“VHGF III HNW”) in exchange for it absolving its unsecured loan to Addison Holdings and Addison NC may transfer 213,952 Units (or REIT Shares to the extent redeemed pursuant to the Mackenzie OP LP Agreement prior to the transfer) to Virtua High Growth Fund II, LLC (“VHGF II”) in exchange for it absolving its unsecured loan to Addison NC, and both VHGF III HNW and VHGF II may immediately distribute such Units (or REIT Shares) to their members. Any such distribution or transfer described in this Section 5.3 shall not occur to unless and until any such Person who receives a direct interest in MacKenzie OP and/or MacKenzie REIT (as applicable) has delivered to MacKenzie OP and MacKenzie REIT the following: (a) a duly executed and completed Accredited Investor Questionnaire in the form attached hereto as Exhibit G that verifies that such transferee is an Accredited Investor; (b) a duly executed copy of the MacKenzie OP LP Agreement admitting such Persons receiving Class A OP Units as a limited partner of MacKenzie OP (in the case of the transfer of Units); and (c) an agreement from each Person agreeing to and acknowledging the representations and warranties set forth in Sections 4.1(w) – (z) as to such Person in place of “Contributor” or “Contributors.” In addition to items (a)-(c), in advance of any such distribution or transfer to such Person identified on Exhibit J, such Persons shall deliver to Mackenzie OP and Mackenzie a duly executed and completed Joinder Agreement in the form attached hereto as Exhibit K.
View Source
Subsequent Distribution. If, after the expiration date of the checks distributed set forth herein, there remains money in the Settlement Fund sufficient to pay at least $5.00 to each Settlement Class Member who cashed their initial Settlement Award check or accepted their initial Settlement Award deposit, that remaining money will be distributed on a pro rata basis to those Settlement Class Members who cashed their initial Settlement Award checks or accepted their initial Settlement Award payments (the “Subsequent Distribution”). The Subsequent Distribution shall be made within thirty (30) days after the expiration date of the checks distributed, and shall be paid in the same manner as the original Settlement Award. Checks issued pursuant to the Subsequent Distribution will be valid for sixty (60) days from the date on the check. If there is not enough money to pay at least $5.00 to each Settlement Class Member who cashed their initial Settlement Award check or accepted their initial Settlement Award deposit, or if any checks or deposits from the subsequent distribution remain uncashed after the stale date, those funds shall be distributed to a mutually agreeable cy pres recipient, subject to court approval and if the parties cannot agree, they will inform the court at preliminary approval of their choices and if the cy pres recipient is not resolved at preliminary approval, the notices shall be modified to set out both Parties’ preference.
View Source
Subsequent Distribution. There will be a subsequent distribution from the Common Benefit Fund of the second Santee ▇▇▇▇▇▇ sixty-five million dollar ($65,000,000) payment and the Santee ▇▇▇▇▇▇ seventy million dollar ($70,000,000) payment less (1) Taxes and Tax Expenses;
View Source

Related to Subsequent Distribution

  • Final Distribution The Issuer shall give the Indenture Trustee at least 30 days written notice of the Payment Date on which the Noteholders of any Series, Class or Tranche may surrender their Notes for payment of the final distribution on and cancellation of such Notes. Not later than the fifth day of the month in which the final distribution in respect of such Series, Class or Tranche is payable to Noteholders, the Indenture Trustee shall provide notice to Noteholders of such Series, Class or Tranche specifying (i) the date upon which final payment of such Series, Class or Tranche will be made upon presentation and surrender of Notes of such Series, Class or Tranche at the office or offices therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such payment date is not applicable, payments being made only upon presentation and surrender of such Notes at the office or offices therein specified (which, in the case of Bearer Notes, shall be outside the United States). The Indenture Trustee shall give such notice to the Note Registrar and the Paying Agent at the time such notice is given to Noteholders. (a) Notwithstanding a final distribution to the Noteholders of any Series, Class or Tranche of Notes (or the termination of the Issuer), except as otherwise provided in this paragraph, all funds then on deposit in any Issuer Account allocated to such Noteholders shall continue to be held in trust for the benefit of such Noteholders, and the Paying Agent or the Indenture Trustee shall pay such funds to such Noteholders upon surrender of their Notes, if certificated. In the event that all such Noteholders shall not surrender their Notes for cancellation within 6 months after the date specified in the notice from the Indenture Trustee described in paragraph (a), the Indenture Trustee shall give a second notice to the remaining such Noteholders to surrender their Notes for cancellation and receive the final distribution with respect thereto (which surrender and payment, in the case of Bearer Notes, shall be outside the United States). If within one year after the second notice all such Notes shall not have been surrendered for cancellation, the Indenture Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining such Noteholders concerning surrender of their Notes, and the cost thereof shall be paid out of the funds in the Collection Account or any Supplemental Issuer Accounts held for the benefit of such Noteholders. The Indenture Trustee and the Paying Agent shall pay to the Issuer any monies held by them for the payment of principal or interest that remains unclaimed for two years. After payment to the Issuer, Noteholders entitled to the money must look to the Issuer for payment as general creditors unless an applicable abandoned property law designates another Person.

  • Required Distributions Except in the case of a special needs beneficiary, the assets of the ▇▇▇▇▇▇▇▇▇ ESA are required to be distributed to the designated beneficiary within 30 days of the designated beneficiary’s attainment of age 30. The designated beneficiary will be subject to both income tax and an additional 10 percent penalty tax on the portion of the distribution that represents earnings, if the designated beneficiary does not have any qualified education expenses in that year. Any balance remaining in the ▇▇▇▇▇▇▇▇▇ ESA upon the death of the designated beneficiary will be distributed within 30 days of the designated beneficiary’s death, unless a death beneficiary is named and the death beneficiary is a qualified family member under age 30. If the death beneficiary is a qualified family member under age 30, that individual will become the designated beneficiary as of the date of death. Qualified family members include the designated beneficiary’s child, grandchild, or ▇▇▇▇▇▇▇▇▇, brother, sister, stepbrother, or stepsister, nephew or niece, parents, stepparents, or grandparents, uncle or aunt, spouses of all the family members listed above, cousin, and the designated beneficiary’s spouse. If a qualified family member becomes the designated beneficiary, the custodian, if it so chooses for any reason (e.g., due to limitations of its charter or bylaws), may require a total distribution of the ▇▇▇▇▇▇▇▇▇ ESA by December 31 of the year following the year of the original designated beneficiary’s death.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Qualified HSA Funding Distribution If you are eligible to contribute to a health savings account (HSA), you may be eligible to take a one-time tax-free HSA funding distribution from your IRA and directly deposit it to your HSA. The amount of the qualified HSA funding distribution may not exceed the maximum HSA contribution limit in effect for the type of high deductible health plan coverage (i.e., single or family coverage) that you have at the time of the deposit, and counts toward your HSA contribution limit for that year. For further detailed information, you may wish to obtain IRS Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans.

  • Share Distributions Upon the timely receipt by the Depositary of a notice from the Company that it intends to make a distribution that consists of a dividend in, or free distribution of Shares, the Depositary shall establish the ADS Record Date upon the terms described in Section 4.9 of the Deposit Agreement. Upon receipt of confirmation from the Custodian of the receipt of the Shares so distributed by the Company, the Depositary shall either (i) subject to Section 5.9 of the Deposit Agreement, distribute to the Holders as of the ADS Record Date in proportion to the number of ADSs held as of the ADS Record Date, additional ADSs, which represent in the aggregate the number of Shares received as such dividend, or free distribution, subject to the other terms of the Deposit Agreement (including, without limitation, (a) the applicable fees and charges of, and expenses incurred by, the Depositary and (b) taxes), or (ii) if additional ADSs are not so distributed, take all actions necessary so that each ADS issued and outstanding after the ADS Record Date shall, to the extent permissible by law, thenceforth also represent rights and interests in the additional integral number of Shares distributed upon the Deposited Securities represented thereby (net of (a) the applicable fees and charges of, and expenses incurred by, the Depositary, and (b) taxes). In lieu of delivering fractional ADSs, the Depositary shall sell the number of Shares or ADSs, as the case may be, represented by the aggregate of such fractions and distribute the net proceeds upon the terms described in Section 4.1 of the Deposit Agreement.