Distribution Priorities. Subject to section 18, “loss recoveries,” on each distribution day, the pool distribution amount will be first distributed to any Insurer to pay any insurance premium, and then to the outstanding classes in the following priority (and, if there are any insured classes, the insured payment and amounts withdrawn from the reserve fund will be applied to make payments to the insured class certificates as provided in “Insured classes” below):
(1) To each senior class, first, its current interest allocation for that distribution day, and second its interest allocation carryforward from the preceding distribution day, except that an accrual class’s interest distributions may be redirected as described in “- Accrual and accrual directed classes” above. Distributions of current allocations among the senior classes will be in proportion to current interest allocations for, and distributions of interest allocation carryforwards will be in proportion to interest allocation carryforwards to, that distribution day.
(a) To any ratio-stripped PO class, principal up to its principal allocation for that distribution day, and (b) to the senior target-rate classes, principal up to their aggregate principal allocation for that distribution day, to be distributed to the senior target-rate classes in the priorities described in “Allocations among the senior classes - Order of allocation among senior target-rate classes” above.
(3) To each subordinated class, in order of seniority, first, interest up to its interest allocation for that distribution day, and second, principal up to its principal allocation for that distribution day, except that a subordinated class’s principal distribution may be used to reimburse a ratio-stripped PO class, as described in the following paragraph.
(4) Principal distributed to the subordinated classes under the preceding paragraph will be used to reimburse a ratio-stripped PO class up to the amount of (a) any realized subordinated losses previously allocated to the ratio-stripped PO class, and (b) any reduction to the ratio-stripped PO class’s principal balance to reflect the excess of (i) the aggregate principal allocations to the ratio-stripped PO class over (ii) the aggregate principal distributions to the ratio-stripped classes, as described in “Adjustments to class balances” below, to the extent that such losses and reductions were not previously reimbursed under this paragraph (4) or “Loss recoveries” below. Such reimbursements will be taken ...
Distribution Priorities. For the avoidance of doubt, the parties hereby acknowledge and agree that notwithstanding the occurrence of a First Trigger Failure Condition or a Second Trigger Failure Condition, this Agreement and each Transaction hereunder shall continue to qualify as a Swap Agreement for purposes of the distribution priorities in Article IV of the PSA.
Distribution Priorities. Except as otherwise provided in Sections 7.2, 7.3 and 21.5, all Cash Distributions shall be made to the Members pro rata, based upon their respective Percentage Interests.
Distribution Priorities. Except as otherwise set forth herein, subject to the prior repayment in full of any principal and interest amounts owed in connection with any Member Loans, all distributions of distributable cash and, subject to Section 5.5 below, other assets by the Company shall be made to the Members and debited to their respective Capital Accounts in accordance with the following:
(a) First, one hundred percent (100%) to the Members with a Net Capital Contribution, pro rata in accordance with their respective Net Capital Contributions, until the Net Capital Contributions of all Members have been reduced to zero; and
(b) Thereafter, to the Members pro rata in accordance with their respective Units. The Company shall not have the power to consummate a Sale of the Company unless the acquisition agreement, purchase agreement, agreement or plan of merger or consolidation or other similar agreement for such transaction provides that the consideration payable to the Members shall be distributed in a manner consistent with this Section 5.4. For purposes of this Agreement, distributions shall not include any redemptions, repurchases, recapitalizations or exchanges of Units or other securities of the Company, any subdivision (by Unit split or otherwise) or any combination (by reverse Unit split or otherwise) of any outstanding Units.
Distribution Priorities. Except as otherwise set forth in this Article IV, and subject to the provisions of Section 29-706 of the Arizona Act, the Company shall make Distributions at any time or from time to time to the extent that cash is available to make Distributions. All Distributions, other than Tax Distributions (which are addressed separately in Section 4.2), shall be made to the Unitholders pro rata in accordance with their Percentage Interests. For the avoidance of doubt, each Unitholder acknowledges and agrees that this Section 4.1 may not be amended or modified by the Manager without the consent or approval of all Unitholders.
Distribution Priorities. (i) Amounts to be distributed shall initially be apportioned among (prior to distribution) the Partners in proportion to their respective Partnership Percentages (including, for the avoidance of doubt, the Capital Account of the General Partner, but only to the extent attributable to Capital Contributions made by the General Partner and ignoring for purposes of this clause (i) any right to Carried Interest) as of the date of such distribution.
(ii) The amount of any distribution apportioned to the Capital Account of the General Partner in accordance with clause (i), above, shall be distributed to the General Partner. The amount of any distribution apportioned to each Capital Account held by a Limited Partner shall be divided between the Limited Partner holding such Capital Account and the General Partner and distributed as follows:
Distribution Priorities. Except as otherwise set forth in this Article IV, and subject to the provisions of Section 18-607 of the Delaware Act, the Board may in its discretion make Distributions at any time or from time to time. All Distributions, other than Tax Distributions (which are addressed separately in Section 4.2), shall be made only in the following order and priority:
(i) First, to the Unitholders holding Repurchase Class A Units, an amount equal to the aggregate Class A Unpaid Yield on such Unitholders' outstanding Repurchase Class A Units held as of the time of such Distribution (distributed among such Unitholders based on the proportion that each Unitholder's share of Class A Unpaid Yield with respect to such Person's Repurchase Class A Units bears to the aggregate Class A Unpaid Yield of all Repurchase Class A Units), and no Distribution or any portion thereof may be made pursuant to any of Section 4.1(a)(ii) through (v) below until the entire amount of the Class A Unpaid Yield on the outstanding Repurchase Class A Units as of the time of such Distribution has been paid in full.
(ii) Second, to the Unitholders holding Repurchase Class A Units, an amount equal to the aggregate Class A Unreturned Capital with respect to such Unitholders' outstanding Repurchase Class A Units held as of the time of such Distribution (distributed among such Unitholders based on the proportion that each such Unitholder's share of Class A Unreturned Capital with respect to such Person's Repurchase Class A Units bears to the aggregate amount of Class A Unreturned Capital of all Repurchase Class A Units), and no Distribution or any portion thereof may be made pursuant to any of Section 4.1(a)(iii) through (v) below until the entire amount of Class A Unreturned Capital with respect to the outstanding Repurchase Class A Units as of the time of such Distribution has been paid in full.
(iii) Third, to the Unitholders holding Standard Class A Units, an amount equal to the aggregate Class A Unpaid Yield on such Unitholders' outstanding Standard Class A Units held as of the time of such Distribution (distributed among such Unitholders based on the proportion that each Unitholder's share of Class A Unpaid Yield with respect to such Person's Standard Class A Units bears to the aggregate Class A Unpaid Yield of all Standard Class A Units), and no Distribution or any portion thereof may be made pursuant to Section 4.1(a)(iv) or (v) below until the entire amount of the Class A Unpaid Yield on the outsta...
Distribution Priorities i. If any 11.0% Cumulative Convertible Preferred Shares are outstanding, except as permitted in the next sentence, no full distributions shall be declared, paid or set apart for payment on any of the Company’s shares ranking, as to the payment of distributions or rights upon the Company’s liquidation, dissolution or winding up on a parity with or junior to the 11.0% Cumulative Convertible Preferred Shares for any period unless full cumulative distributions have been or contemporaneously are declared and paid, or declared and a sum sufficient for the payment thereof irrevocably set apart for such payment, on the 11.0% Cumulative Convertible Preferred Shares for all past distribution periods and the then current distribution period. When distributions are not paid in full (or a sum sufficient for such full payment is not so irrevocably set apart) upon the 11.0% Cumulative Convertible Preferred Shares and any other Preferred Shares ranking, as to distributions, on a parity with the 11.0% Cumulative Convertible Preferred Shares, including, without limitation, the Cumulative Perpetual Convertible CRA Shares, all distributions declared upon the 11.0% Cumulative Convertible Preferred Shares and such other Preferred Shares, including, without limitation, the Cumulative Perpetual Convertible CRA Shares, shall be declared pro rata so that the amount of distributions declared for each 11.0% Cumulative Convertible Preferred Share and each such other Preferred Shares, including, without limitation, the Cumulative Perpetual Convertible CRA Shares, shall in all cases bear to each other the same ratio that accumulated and unpaid distributions for each 11.0% Cumulative Convertible Preferred Share and such other Preferred Shares (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such other Preferred Shares are not entitled to a cumulative distribution) bear to each other.
ii. Except as provided herein, including the payment of distributions on Preferred Shares ranking, as to distributions, on a parity with the 11.0% Cumulative Convertible Preferred Shares as provided in the second sentence of Section 2.d.i., unless full cumulative distributions on the 11.0% Cumulative Convertible Preferred Shares have been or contemporaneously are declared and paid, or declared and a sum sufficient for the payment thereof irrevocably set apart for payment for all past distribution periods and the then current distribution period, n...
Distribution Priorities. The parties shall, subject to applicable law disburse the cash of the Company as follows:
1. Payment of services extended by third parties (including amount others audit, tax and accounting services) and taxes.
2. Payment of scheduled interest and principal under the Lantbrukskredit loan.
3. Payment of scheduled interest and principal under any other 3rd party loan.
4. Payment of accrued interest under the Priority Shareholder Loans pro-rata to the respective amounts extended by the shareholders. In case of certain Priority Shareholder Loans have been lent to ESS AB and/or its subsidiaries, the Company shall instruct ESS AB to make such payment.
5. Repayment of principal of the Priority Shareholder Loans pro-rata to the respective amounts extended by the shareholders until such Priority Shareholder Loans are fully repaid. In case of certain Priority Shareholder Loans have been lent to ESS AB and/or its subsidiaries, the Company shall instruct ESS AB to make such payment.
Distribution Priorities. 35 6.02 Adjustment and Reallocation of Priorities.........................38 6.03 Loan Status Statements............................................39 6.04 Cash Flow and Distribution Statements.............................40 6.05 Payment of Minimum Interest and Additional Interest...............42 6.06 Budget Approval Procedures........................................44
