Distributions Upon. The Death Of A Participant ................... 19 6.04 Form Of Distribution To Beneficiary ............................. 20 6.05
Distributions Upon. Realizations of Value Distributions of cash or any other MT Assets by MT Issuer will be made in accordance with the following priorities: (i) the first $200 million of distributions would be irrevocably deposited into the MT Account, to the extent required by the indenture governing the New Second Lien Notes; provided, that upon the earlier to occur of (1) the satisfaction and discharge in full of the obligations under the New Second Lien Notes and (2) provision of MT Alternate Security, any amounts in the MT Account shall be released and distributed in accordance with clauses (ii), (iii) and (iv) below; (ii) thereafter, holders of Series A Preferred Stock would receive distributions on a pro rata basis up to an amount in respect of each share of MT Preferred Equity equal to (a) the Original Purchase Price, as adjusted to account for equity splits, combinations, recapitalizations or similar events, plus (b) all accumulated and unpaid dividends (whether or not declared) through the date of payment plus (c) all unpaid Default Return (as defined below) (such amount in the aggregate, the “Preferred Equity Payout”); (iii) thereafter, the holder of Series B Preferred Stock would receive distributions up to an amount equal to the Preferred Equity Payout received by the holders of Series A Preferred Stock in the foregoing clause (ii) (excluding any Default Returns); and (iv) thereafter, (x) holders of the MT Issuer common equity would receive 50% of any remaining distributions on a pro rata basis and (y) the other 50% of any remaining distributions shall be used to redeem the New Third Lien Notes at par. Redemption The MT Issuer may redeem the Series A Preferred Stock and Series B Preferred Stock at its option, in whole at any time or in part from time to time, at a redemption price equal to the Preferred Equity Payout (provided that no redemption payments on shares of Series B Preferred Stock may be made unless (i) either (x) the obligations under the New Second Lien Notes are satisfied and discharged in full, (y) MT Alternate Security has been provided, or (z) the required deposits to the MT Account have been made or otherwise satisfied and (ii) the Preferred Equity Payout has been paid in full to the holders of the Series A Preferred Stock either by redemption or by distribution). All proceeds from any MT Secondary Sale shall promptly be deposited into the MT Account or distributed by MT Issuer in the manner set forth in “Distributions Upon Realizations of Valu...
Distributions Upon a Sale of the Corporation's Assets. (a)
Distributions Upon a Sale of the Corporation's Assets. (a) Distribution to Series B Holders. The holders of the Series B Preferred Stock shall be entitled to receive a payment, out of the assets of the Corporation, pro-rata, pari passu as if members of a single class of securities with the holders of the Series A Preferred Stock, a total of $25,000,000 in proceeds from the sale of the Corporation or any assets of the Corporation after payment or provision for all obligations or liabilities of the Corporation ("Net Liquidation Proceeds") before any payment shall be made or any assets distributed to the holders of Common Stock.
