Capital Payments. (a) Subject to the terms of this Article 12, (i) Class B Preferred Securityholders shall receive periodic Capital Payments, if any, in accordance with Article 10 of this Agreement only when, as and if declared or deemed declared by the Board of Directors and (ii) Class A Preferred Securityholders and Common Securityholders shall receive periodic distributions, subject to Article 10 of this Agreement and to the provisions of the LLC Act, only when, as and if declared by the Board of Directors.
(b) A Securityholder shall not be entitled to receive any Capital Payment or other distribution with respect to any Class B Capital Payment Date (and any such Capital Payment or other distribution shall not be considered due and payable), irrespective of whether such Capital Payment or other distribution has been declared by the Board of Directors, until such time as the Company shall have funds legally available for the payment of such Capital Payment or such other distribution to such Securityholder pursuant to the terms of this Agreement and the LLC Act, and notwithstanding any provision of Section 18-606 of the LLC Act to the contrary, until such time, a Securityholder shall not have the status of a creditor of the Company, or the remedies available to a creditor of the Company.
Capital Payments. (a) Capital Payments on the Trust Preferred Securities shall be due and payable to the extent Capital Payments on the Class B Preferred Securities have been declared and paid (or have been deemed declared, even if the deemed declared Capital Payments on the Class B Preferred Securities were not authorized to be paid due to a lack of Operating Profits at the Company). Holders of the Trust Preferred Securities shall be entitled to receive due and payable Capital Payments in cash on the Trust Preferred Securities held by them, on a non-cumulative basis, payable quarterly in arrears on each Payment Date. Capital Payments on the Trust Preferred Securities payable on each Payment Date shall accrue for the related Payment Period.
(b) For each Payment Period, Capital Payments shall accrue on the Liquidation Preference Amount of each Trust Preferred Security at a fixed rate per annum equal to the Stated Rate, calculated on the basis of a 360-day year of twelve 30-day months.
(c) If any Payment Date or redemption date falls on a day that is not a Business Day, the amounts payable on such Payment Date or redemption date will be paid on the next succeeding Business Day, without adjustment, interest or further payment as a result of such delay in payment.
(d) Capital Payments and other distributions on the Trust Preferred Securities shall be paid out of, and amounts available to the Trust for such payments shall be limited to, amounts received by the Trust from the Company with respect to the Class B Preferred Securities pursuant to the provisions of the LLC Agreement and from the Guarantor pursuant to the Class B Preferred Guarantee or the Trust Preferred Guarantee (including payments by the Guarantor under the Trust Preferred Guarantee to fund Capital Payments on the Trust Preferred Securities in the event of non-payment of deemed declared Capital Payments on the Class B Preferred Securities due to a lack of Operating Profits at the Company).
(e) Each Capital Payment shall be payable to the Holders of record as they appear on the Register on the corresponding record date. The record dates for the Trust Preferred Securities shall be (A) for Global Trust Preferred Certificates, the end of the Business Day immediately preceding the relevant Payment Date and (B) for Definitive Trust Preferred Certificates, the end of business of the 15th Business Day prior to the relevant Payment Date.
(f) If and to the extent that the Company makes a distribution on the Class B Preferre...
Capital Payments. On the happening of an Accident giving rise to a claim under any of Items 1-7, this insurance will not cover any further Accidents to that Insured Person in the same Period of Insurance.
Capital Payments. 11.2.1 There shall be no federal, territorial or local govermnent tax or other similar charge exigible in respect of, or reduction to the cost or capital cost of, property acquired as a result of the receipt by a designated Gwich’in organization of, or the receipt by a settlement corporation that may reasonably be considered to be a receipt of, amounts that are:
(a) capital transfer payments described in chapter 8;
(b) payments made to all designated Gwich’in organizations and settlement corporations described in chapter 9, to the extent that such payments do not exceed in aggregate $3.0 million; and
(c) loans described in 8.3.
11.2.2 Except as provided in this chapter, any income earned on an amount described in 11.2.1(a), (b) or
Capital Payments. The annual payments from Québec constitute capital payments paid to the benefit of the Xxxxx Bay Xxxxx and Cree Bands pursuant to the JBNQA for community and economic development purposes. Chapter 8 -- CREE DEVELOPMENT CORPORATION
Capital Payments. Arrears of Payments and other distributions on the Upper Tier 2 Percentage of the Trust Preferred Securities shall be paid out of, and amounts available to the Trust for such payments shall be limited to, amounts received by the Trust from the Company with respect to the Upper Tier 2 Percentage of the Class B Preferred Securities pursuant to the provisions of the LLC Agreement and from the Guarantor pursuant to the Class B Preferred Guarantee or the Trust Preferred Guarantee (including payments by the Guarantor under the Trust Preferred Guarantee to fund Capital Payments on the Upper Tier 2 Percentage of the Trust Preferred Securities in the event of non-payment of deemed declared Capital Payments on the Upper Tier 2 Percentage of the Class B Preferred Securities due to a lack of Operating Profits at the Company).
Capital Payments. 11.2.1 There shall be no federal, territorial or local government tax or other similar charge exigible in respect of, or reduction to the cost or capital cost of, property acquired as a result of the receipt by a designated Sahtu organization of, or the receipt by a settlement corporation that may reasonably be considered to be a receipt of, amounts that are:
(a) capital transfer payments described in chapter 8;
(b) payments made to all designated Sahtu organizations and settlement corporations described in chapter 10, to the extent that such payments do not exceed in aggregate $3.0 million; and
(c) loans described in 8.3.
11.2.2 Except as provided in this chapter, any income earned on an amount described in 11.2.1(a), (b) or (c) received by a person other than a settlement corporation shall be subject to federal, territorial or local government tax or other similar charges as may be exigible under legislation.
Capital Payments. (A) On each of the Final Order Date and on the tenth (10th) anniversary of the Final Order Date, Licensee shall be credited with [***] to be used for capital purchases as described in this Section 5(a) (each a "CAPITAL PAYMENT"). Licensee may use each Capital Payment to order from Clearwire any hardware, software or consulting services for Licensee, [***] and Permitted End Users to design, implement, access and use any Clearwire Goods or Third Party Services ("CAPITAL GOODS"). For example, and for illustrative purposes only, Licensee may purchase networking equipment, end user equipment, wiring, routers, local distribution networks, hardware or software upgrades and consulting time for current or future technologies and services. Notwithstanding the foregoing, the Parties agree that up to [***] of each Capital Payment must be used, if at all, to purchase Capital Goods from Clearwire and up to [***] may be used to purchase Capital Goods available from third parties to the extent Clearwire does not have such Capital Goods available; [***].
(B) In addition, Licensee shall be credited with [***] on the twentieth (20th) anniversary of the Final Order Date ("ADDITIONAL CAPITAL PAYMENT"). Licensee may use the Additional Capital Payment to purchase any Capital Goods from Clearwire or third parties, or, upon Licensee's request, Clearwire shall send to Licensee the Additional Capital Payment in cash in a lump sum amount within fifteen (15) days of Licensee's request (provided the subject payment has become due hereunder).
(C) The Capital Payments and Additional Capital Payment must each be used or, in the case of the Additional Capital Payment, be taken in cash by Licensee within ten (10) years of being credited to Licensee pursuant to this Section 5.
Capital Payments. The Applicant shall make Capital Payments to the County as set forth below (each a “Capital Payment” and collectively, the “Capital Payments”). The Parties acknowledge that, except as otherwise provided herein, the Applicant’s obligation to make Capital Payments shall be conditioned upon the Project achieving the corresponding milestone:
a. No later than the first anniversary of the date that the Board approves the SEP subject to the SEP Conditions, the Applicant shall pay to the County an amount calculated as follows: 0.025 x (Anticipated Nameplate Capacity x [$25,000.00]1). Such payment shall be referred to herein as the “Anniversary Payment”.
b. Within thirty (30) days after the Applicant’s receipt of a Final CPCN for the Project, the Applicant shall pay to the County an amount calculated as follows: [(Approved Nameplate Capacity x [$25,000.00]2) ÷ 3] – the Anniversary Payment). For purposes of this Agreement, the term “Final CPCN” means a final order granting a certificate of public convenience and necessity issued by the SCC, and the term “Approved Nameplate Capacity” shall be the nameplate capacity for the Project as identified in the Final CPCN as measured in megawatts of alternating current (AC).
Capital Payments. Each Member Agency’s share of Net Capital Expenses will be allocated based upon such Member Agency’s percentage of Treatment Capacity as set forth in Exhibit A. For example, if a Member Agency owns 50% of Aggregate Treatment Capacity, then such Member Agency would be responsible for paying 50% of the Authority’s Net Capital Expenses.
