Distributions. Distributions shall be made to the Member at the times and in the aggregate amounts determined by the Member. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Member on account of the Members interest in the Company if such distribution would violate Section 18-607 of the Act or any other applicable law.
Distributions. Subject to restrictions set forth in any financing document entered into by AI-NOVA, upon completion of each Company’s business venture, AI-NOVA shall distribute its available cash (net cash generated from sale of the business venture and/or its units less disbursements and appropriate reserves), to the Parties based on their relative equity interest in AI-NOVA .
Subject to [Section 5.8(b)(i)(B)], commencing with the Quarter that includes the Series A Initial Issuance Date, subject to [Section 5.8(b)(i)(D)], the Record Holders of the Series A Preferred Units as of the applicable Record Date for each Quarter shall be entitled to receive, in respect of each Outstanding Series A Preferred Unit, cumulative distributions in respect of such Quarter equal to the sum of # the Series A Distribution Amount for such Quarter and # any Series A Unpaid Distributions (collectively, a “Series A Quarterly Distribution”). With respect to any Quarter (or portion thereof for which a Series A Quarterly Distribution is due) ending on or before the end of the Initial Distribution Period for a Series A Preferred Unit, such Series A Quarterly Distribution shall be paid, as determined by the General Partner, in Series A PIK Units or in cash, or in a combination of Series A PIK Units and cash. For any Quarter ending after the end of the Initial Distribution Period for a Series A Preferred Unit, each Series A Quarterly Distribution on
Distributions. The procedures governing distributions contained in [Article VI] of the Plan shall be, and hereby are, approved in their entirety; provided, however, that notwithstanding anything to the contrary in the Plan, distributions under the Plan to each holder of a Term Loan Facility Claim shall be made by the Distribution Agent to, or to Entities at the direction of, such holder in accordance with the terms of the Plan; provided, further that the Distribution Agent shall not incur any liability whatsoever on account of any distributions under the Plan.
Distributions. Pay or make any dividend or distribution on any Equity Interests of Borrower (other than dividends or distributions payable in its stock, or split-ups or reclassifications of its stock) or apply any of its funds, property or assets to the purchase, redemption or other retirement of any Equity Interests of Borrower, or of any options to purchase or acquire any such Equity Interests of any Credit Party (excluding any cashless exercise of options) or pay any management, consulting or similar fee; provided, however that Borrower may repurchase up to 1,800,000 of its common stock from its shareholders for an aggregate amount not to exceed during the period from through and including so long as # no Default or Event of Default then exists or would otherwise exist as result thereof (it being recognized by Lender that Borrower’s actions directly effecting such repurchase shall not be deemed as Event of Default, e.g. Borrower’s repurchase of its own Equity Interests shall not be deemed to be a breach of [Section 7.4] above); # Undrawn Availability is greater than or equal to both immediately before and immediately after giving effect to any such repurchase; # Undrawn Availability plus domestic unrestricted cash of Borrower is greater than or equal to both immediately before and immediately after giving effect to any such repurchase; and # Borrower uses its unrestricted cash to consummate such repurchases and does not request any Revolving Advances for such purpose.
use cash (or cash equivalents) of such Person for any purpose other than # distributions permitted by [[Section 6.1(d)(iii) or (B)])]])] in the Ordinary Course of Business and with respect to bona fide payment obligations that are or should be reflected on such Person’s balance sheet as of the applicable time of payment;
“Guaranties” means any agreements, undertakings or arrangements by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon the Indebtedness, obligation or other Liability of any other Person (except by endorsements of instruments in the ordinary course of collection), or guaranties of the payment of dividends or other distributions upon the shares of any other Person.
any of the following, in each case, to the extent conducted in the ordinary course of business (an “Ordinary Course Disposition”):
“Permitted Tax Receivable Payments” means, in respect of a taxable period, cash distributions to the equity holders of Holdings in an aggregate amount such that the IPO Entity’s pro rata share of such distributions does not exceed the excess of # the sum of # the ordinary course payments payable by IPO Entity pursuant to a customary tax receivable agreement for such period and # the actual aggregate U.S. federal, state and/or local income tax liability of IPO Entity for such period attributable to the taxable income of Holdings (taking into account any adjustment pursuant to Section 743 of the Code or otherwise in connection with an “up-C” structure), over # Permitted Tax Distributions allocable to IPO Entity for such period; provided that, for the avoidance of doubt, “ordinary course payments” pursuant to a tax receivable agreement means payments other than any accelerated lump sum amount payable by reason of any early termination of such agreement or otherwise, to the extent such amount exceeds the amount that would have been payable under such tax receivable agreement in the absence of such acceleration.
to the extent constituting Indebtedness, customer deposits and advance payments (including progress premiums) received in the ordinary course of business from customers for goods purchased in the ordinary course of business;
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