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For more information visit our privacy policy.Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Distributions of Available Cash From Operating Surplus Available Cash that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or Section 6.5 shall be distributed as follows, except as otherwise contemplated by Section 5.6(b) in respect of additional Partnership Interests issued pursuant thereto (including pursuant to Article V with respect to the Preferred Units): (a) First, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the Minimum Quarterly Distribution for such Quarter; (b) Second, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the First Target Distribution over the Minimum Quarterly Distribution for such Quarter; (c) Third, (i) to the General Partner in accordance with its Percentage Interest; (ii) 13% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (c), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Second Target Distribution over the First Target Distribution for such Quarter; (d) Fourth, (i) to the General Partner in accordance with its Percentage Interest; (ii) 23% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (d), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Third Target Distribution over the Second Target Distribution for such Quarter; and (e) Thereafter, (i) to the General Partner in accordance with its Percentage Interest; (ii) 48% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (e); provided, however, if the Minimum Quarterly Distribution, the First Target Distribution, the Second Target Distribution and the Third Target Distribution have been reduced to zero pursuant to the second sentence of Section 6.6(a), the distribution of Available Cash that is deemed to be Operating Surplus with respect to any Quarter will be made solely in accordance with Section 6.4(e).
STAFF SURPLUS 26.1 When as a result of the substantial restructuring of the whole, or any parts, of the employer's operations; either due to the reorganisation, review of work method, change in plant (or like cause), the employer requires a reduction in the number of employees, or, employees can no longer be employed in their current position, at their current grade or work location (i.e. the terms of appointment to their present position), then the options in sub clause 26.5 below shall be invoked and decided on a case by case basis by the employer having due regard to the circumstances of the affected employee. 26.2 Where an employee's employment is being terminated by the employer by reason of the sale or transfer of the whole or part of the employer's business, nothing in this Agreement shall require the employer to pay compensation for redundancy to the employee if: 26.2.1 The person acquiring the business or the part being sold or transferred a) Has offered the employee employment in the business or the part being sold or transferred; and b) Has agreed to treat service with the employer as if it were service with that person and as if it were continuous; and the conditions of employment offered to the employee by the person acquiring the business or the part of the business being sold or transferred are the same as, or are no less favourable than, the employee's conditions of employment, including: a) Any service related conditions; and b) Any conditions relating to redundancy; and c) Any conditions relating to superannuation Under the employment being terminated; and The offer of employment by the person acquiring the business or the part of the business being sold or transferred is an offer to employ the employee in that business or part of the business either: a) In the same capacity as that in which the employee was employed by the Employer; or b) In any capacity that the employee is willing to accept.
Refund of Excess Cash If at any time the credit balance of Timber Sale Account exceeds the charges for timber that Forest Service estimates will be cut within the next 60 days, any portion of such excess that is due to cash in the account shall be refunded, if re- quested by Purchaser, unless deposited under B4.211,
Excess Cash Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent into which Borrower shall deposit all Excess Cash on each Payment Date during the continuation of a Cash Sweep Period (the “Excess Cash Reserve Account”). Amounts so deposited shall hereinafter be referred to as the “
Cross-Collateralization; Adjustments to Available Funds (a) If on each Distribution Date after the date on which the aggregate Class Certificate Balance and Component Principal Balance of the Senior Certificates related to a Loan Group has been reduced to zero, the Trustee shall distribute Available Funds on all the Mortgage Loans assuming there is only one group of Mortgage Loans consisting of all of the Mortgage Loans. (b) If on any Distribution Date the aggregate Class Certificate Balance and Component Principal Balance of the Senior Certificates and related Principal Only Component (after all other distributions are made on such Distribution Date) in a Loan Group is greater than the aggregate Stated Principal Balance of the Mortgage Loans in such Loan Group as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that Due Date) (the "Undercollateralized Group"), then the Trustee shall reduce the Available Funds of the other Loan Group to the extent that it is not undercollateralized (the "Overcollateralized Group"), as follows: (i) to the Senior Certificates of the Undercollateralized Group an amount equal to the lesser of (a) the Accrued Interest Amount and (b) Available Funds of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.02; and (ii) to the Senior Certificates of the Undercollateralized Group, to the extent of the principal portion of the Available Funds of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.02 and the Accrued Interest Amount pursuant to clause (i) above, until the Class Certificate Balance and Component Principal Balance of the Senior Certificate Group of such Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that Due Date).
Available Cash Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000 Per Year Paid Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000 Per Year Shortfall Servicing Fee Paid Servicing Fee Shortfall Administration Fee Paid Administration Fee Shortfall Remaining Cash Available to Pay Note Interest Cash Available to Pay Note Interest Cash Available to Pay Termination Payment Class A-1 notes Interest Paid Class A-2 notes Interest Paid Class A-3 notes Interest Paid Class A-4 notes Interest Paid Class B notes Interest Paid Class A-1 notes Interest Shortfall Class A-2 notes Interest Shortfall Class A-3 notes Interest Shortfall Class A-4 notes Interest Shortfall Class B notes Interest Shortfall CNH Equipment Trust 2018-B $181,000,000 Class A-1 2.47044% Asset Backed Notes due October 15, 2019 $260,000,000 Class A-2 2.93% Asset Backed Notes due December 15, 2021 $280,000,000 Class A-3 3.19% Asset Backed Notes due November 15, 2023 $70,700,000 Class A-4 3.37% Asset Backed Notes due May 15, 2024 $18,230,000 Class B 3.56% Asset Backed Notes due February 17, 2026 Class A-1 notes Principal Paid Class A-2 notes Principal Paid Class A-3 notes Principal Paid Class A-4 notes Principal Paid Class B notes Principal Paid Deposits to Spread Account Turbo Principal Payment Amount (this Period) LTD Turbo Principal Payment Amount Total Principal Balance of Notes (End of Period) A-1 notes Ending Principal balance A-2 notes Ending Principal balance A-3 notes Ending Principal balance A-4 notes Ending Principal balance Class B notes Ending Principal balance Release excess to the Certificateholders Asset Backed Certificate Actual Payment Date Total Principal Balance of Notes (Beginning of Period) A-1 notes Beginning Principal balance A-2 notes Beginning Principal balance A-3 notes Beginning Principal balance A-4 notes Beginning Principal balance Class B notes Beginning Principal balance Total Principal Balance of Notes (End of Period) WAL A-1 notes Ending Principal balance A-2 notes Ending Principal balance A-3 notes Ending Principal balance A-4 notes Ending Principal balance Class B notes Ending Principal balance $181,000,000 Class A-1 2.47044% Asset Backed Notes due October 15, 2019 $260,000,000 Class A-2 2.93% Asset Backed Notes due December 15, 2021 $280,000,000 Class A-3 3.19% Asset Backed Notes due November 15, 2023 $70,700,000 Class A-4 3.37% Asset Backed Notes due May 15, 2024 $18,230,000 Class B 3.56% Asset Backed Notes due February 17, 2026 Class A-2 notes Interest Paid Class A-3 notes Interest Paid Class A-4 notes Interest Paid Class B notes Interest Paid Class A-2 notes Interest Shortfall Class A-3 notes Interest Shortfall Class A-4 notes Interest Shortfall Class B notes Interest Shortfall Class A-2 notes Principal Paid Class A-3 notes Principal Paid Class A-4 notes Principal Paid Class B notes Principal Paid Required Spread Account Deposit Required Spread Account Target Required Spread Account 2.25% Beginning Spread Account Balance Spread Account Withdrawals to Distribution Account Spread Account Deposits from Excess Cash Spread Account Released to Seller Ending Spread Account Balance Purchase Total Release to Seller “The Administrator hereby directs the Indenture Trustee to pay on the Payment Date set forth above from the Certificate Distribution Account to the Certificateholders, on a pro rata basis, zero payment.” $181,000,000 Class A-1 2.47044% Asset Backed Notes due October 15, 2019 $260,000,000 Class A-2 2.93% Asset Backed Notes due December 15, 2021 $280,000,000 Class A-3 3.19% Asset Backed Notes due November 15, 2023 $70,700,000 Class A-4 3.37% Asset Backed Notes due May 15, 2024 $18,230,000 Class B 3.56% Asset Backed Notes due February 17, 2026 [In the first report to noteholders include:]
Cash Available for Distribution Subject to the provisions of Sections 5.3, 5.4, 12.2(c) and 13.2, the General Partner shall cause the Partnership to distribute, at such times as the General Partner shall determine (each a “Distribution Date”), an amount of Cash Available for Distribution, determined by the General Partner in its sole discretion to the Partners holding GP Units, OP Units and/or Class B Units who are Partners on the applicable Partnership Record Date, in accordance with each such Partner’s respective Percentage Interest.
Distributions of Available Cash The Management Committee shall review the Company’s accounts at the end of each calendar quarter to determine whether distributions are appropriate. Subject to § 18-607 of the Delaware Act, the Management Committee shall authorize such distributions of Available Cash as it may determine in its sole discretion. All such distributions of cash shall be made to the Members in the following manner: (a) First, to each Member with Series B Convertible Preferred Units and/or Series C Preferred Units ratably in proportion to, and up to, the sum of their respective Capital Contributions in respect of Series B Convertible Preferred Units and Series C Preferred Units (after taking into account prior distributions made pursuant to this clause (a)); (b) Second, to each Member in proportion to, and up to, their respective Capital Contributions in respect of Units (as such Capital Contributions shall have been revalued pursuant to this Agreement and after taking into account prior distributions made pursuant to this clause (b)); (c) Third, to each Member with Series B Convertible Preferred Units and/or Series C Preferred Units ratably in proportion to, and up to, the amount by which the Liquidation Preference (without taking into account any distributions made pursuant to clause (a) above) exceeds the Initial Liquidation Preference for all of the Series B Convertible Preferred Units and/or Series C Preferred Units owned by each such Member; (d) Fourth, to each Member with Series B Convertible Preferred Units and/or Series C Preferred Units in proportion to, and up to, the amount equal to the quotient of: (i) the product of the Tax Rate Differential and the amount distributed to such Member pursuant to clause (c) above, and (ii) the difference between one (1) and the maximum marginal federal income and New York State and New York City individual tax rate (including, to the extent applicable, alternative minimum tax, if any) expressed as a decimal (after taking into account prior distributions made pursuant to this clause (d)); (e) Fifth, to each Member with Series A Preferred Units in proportion to, and up to, the sum of (i) the amount by which the Liquidation Preference exceeds the Initial Liquidation Preference for all of the Series A Preferred Units owned by each such Member and (ii) the aggregate Unpaid Distribution Amount for all of the Series A Preferred Units owned by each such Member; and (f) Sixth, to each Member in proportion to the Percentage Interests. Notwithstanding anything to the contrary above, if Available Cash is derived from a transaction that occurs in connection with the dissolution, termination and liquidation of the Company, any Available Cash that is derived from or attributable to such a transaction shall be distributed to the Members in accordance with Section 13.3. For purposes of this Agreement, the Capital Contributions in respect of Series C Preferred Units shall be deemed to be their Initial Liquidation Preference.
In the Event of Forecasted Surpluses If the HSP is forecasting a surplus, the Funder may take one or more of the following actions: adjust the amount of Funding to be paid under Schedule A, require the repayment of excess Funding; adjust the amount of any future funding installments accordingly.