Distributions, Transfers, and Exit
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fix(index-topics): simplify all 7 Index Topics to brief, high-level navigation (Track-B operator directive) — this is a first/rough version, not a polished draft; stripped inferred rationale, causal framing, and connective interpretation from every lead and group intro; removed or minimized specific securities-law citations (NI 51-102, NI 52-110, NI 45-106, NP 58-201, NI 58-101, CSA National Policy 51-201) per operator direction to cite law only on direct need; trimmed See-also lists to 1 essential link each; EN+ES across reference, company, investments, financial-model, distributions, governance, risks
@@ -17,25 +17,19 @@ editor: woodfine-editorial paired_with: _index.es.md --- Distributions are targeted to be paid from Distributable Income when and if declared. They are never guaranteed, and no distribution is declared on an asset that falls below its interest-coverage floor. There is no redemption window: a holder exits by transferring units to an eligible counterparty at a time of their choosing. Distributions and Transfers covers both mechanisms — what is paid out, and how a position is exited. Distributions and Transfers covers the distribution policy and the unit-transfer mechanism. <!-- START-HERE-HIGHLIGHT: engine reads this block to render the single "start here" card (reuses the existing cluster-card--start-here component). Do not add more than one. --> **Start here:** [[distribution-declaration-mechanics|Distribution declaration mechanics]] — how a distribution is determined, gated, allocated, and paid. **Start here:** [[distribution-declaration-mechanics|Distribution Declaration Mechanics]] <!-- END-START-HERE-HIGHLIGHT --> ## Distribution policy and mechanics What has to be true before cash reaches a unit holder: the coverage gate, proportional allocation across units, the suspension protocol, and how a payment lands in the capital account. How distributions are determined and paid. <!-- AUTO-GENERATED MEMBERSHIP: DO NOT EDIT BELOW — regenerate from index_group: distribution-policy-and-mechanics --> - [[distribution-declaration-mechanics]] — How distributions in direct-hold limited partnerships are determined, declared, and paid: the ICR gate, proportional allocation across units, suspension protocol, and the relationship between distributions and the T5013 capital account. @@ -43,9 +37,7 @@ account. ## Exit and transfer How a holder leaves a position when there is no redemption right: the perpetual holding period by design, the reasons redemption was removed, and the over-the-counter transfer mechanism that replaces it. How a holder exits a position. <!-- AUTO-GENERATED MEMBERSHIP: DO NOT EDIT BELOW — regenerate from index_group: exit-and-transfer --> - [[perpetual-equity-model]] — The investment framework under which equity is held indefinitely without a fixed redemption horizon. @@ -53,12 +45,6 @@ mechanism that replaces it. - [[equity-transfer-model]] — Over-the-counter transfer mechanism that allows investors to exit their position directly to eligible counterparties, without requiring a liquidity pool or corporate buyback. <!-- END AUTO-GENERATED --> These articles describe the policy and the mechanism. They do not promise a buyer, a price, or any particular distribution outcome. ## See also - [[investment-units|Investment units]] — the units these distributions and transfers apply to - [[debt-service-and-financing-structure|Debt service and financing structure]] — the debt sizing that sets the coverage gate - [[offering-risk|Offering risk]] — illiquidity by design, and the absence of a guaranteed buyer - [[statutory-rights|Statutory rights]] — the rights that attach to a transferred or subscribed unit - [[investment-units|Investment Units]]