Distribution Reserve Account. (a) Immediately prior to the closing of the Initial Public Offering, the Partnership established an account with a financial institution organized under the laws of the United States of America, or any state thereof, and having total assets in excess of $500,000,000 and a combined capital and surplus of at least $100,000,000 (the “Distribution Reserve Account”).
(b) All amounts held in the Distribution Reserve Account, including interest and any other income on the investments in the Distribution Reserve Account, (i) shall be segregated from all other assets of the Partnership, (ii) shall not be used to pay Operating Expenditures, Expansion Capital Expenditures, Investment Capital Expenditures or transaction expenses related to an Interim Capital Transaction or to repurchase Units, (iii) shall not be set aside as reserves against Available Cash or Operating Surplus and (iv) subject to Section 5.11(e), shall be used by the Partnership only to make distributions of Available Cash to holders of Common Units and General Partner Units pursuant to Section 6.4(a)(i) and Section 6.4(a)(ii). The Partnership will not enter into any agreement that restricts the ability of the Partnership to distribute funds from the Distribution Reserve Account.
(c) On the Closing Date and pursuant to the Contribution Agreement, the Partnership deposited into the Distribution Reserve Account $98,442,481 in cash proceeds from the Initial Offering, which proceeds were used on the Closing Date to purchase Treasury Securities maturing as to principal and interest at such times and in such amounts as the General Partner determined would be sufficient to pay the Initial Quarterly Distribution on the Initial Common Units and on the General Partner Units issued pursuant to Section 5.2(a) through the Quarter ending on June 30, 2009.
(d) Upon the issuance of any additional Common Units by the Partnership prior to the Record Date for distributions payable for the Quarter ending June 30, 2009, the Partnership deposited into the Distribution Reserve Account sufficient cash proceeds from such issuance to purchase Treasury Securities or Eligible Investments maturing as to principal and interest at such times and in such amounts as equaled the amount necessary to pay the Initial Quarterly Distribution on the additional Common Units and additional General Partner Units, if any, so issued by the Partnership for each Quarter in the period commencing with the Quarter in which such additional Common Unit...
Distribution Reserve Account. The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Distribution Reserve Account” (account number 0000000) (the “Distribution Reserve Account”).
Distribution Reserve Account. (i) As contemplated by Section 2.1, on or prior to the Term-Conversion Date, Depositary shall establish in the name of the Administrative Agent at Depositary an account entitled “New York 2006 Portfolio Wind Generation Project - Distribution Reserve Account” (the “Distribution Reserve Account”).
Distribution Reserve Account. (a) Immediately prior to the closing of the Initial Public Offering, the Partnership established an account with a financial institution organized under the laws of the United States of America, or any state thereof, and having total assets in excess of $500,000,000 and a combined capital and surplus of at least $100,000,000 (the “Distribution Reserve Account”).
(b) All amounts held in the Distribution Reserve Account, including interest and any other income on the investments in the Distribution Reserve Account, (i) shall be segregated from all other assets of the Partnership, (ii) shall not be used to pay Operating Expenditures, Expansion Capital Expenditures, Investment Capital Expenditures or transaction expenses related to an Interim Capital Transaction or to repurchase Units,
Distribution Reserve Account. (a) If, as of any Basic Rent Payment Date after the issuance of the Equity Loans, the Security Agent shall have received a certificate of an Authorized Officer of the Partnership or GE Capital (and in the case of a certificate of the Partnership, countersigned by GE Capital) that the Operating Cash Flow Ratio for each of the two Quarterly Measurement Periods immediately preceding such Basic Rent Payment Date was less than 1.20 to 1, the Security Agent shall, subject to any required applications taking precedence pursuant to paragraph
(b) below, apply the amounts on deposit in the Distribution Reserve Account to the prepayment of the remaining installments of principal of the Equity Loans in the inverse order of maturity, as specified in a certificate from GE Capital to the Security Agent.
(a) To the extent that at any time the cash then available in the Revenue Account is insufficient to make any of the payments, deposits or transfers contemplated by Sections 4.1, 4.2, 4.3 a nd 4.4, the Security Agent shall from and to the extent of the cash available in the Distribution Reserve Account withdraw such amounts from the Distribution Reserve Account as directed by GE Capital and make the aforesaid payments, deposits and transfer s.
(c) If, as of any Basic Rent Payment Date, the Security Agent shall have received a certificate of an Authorized Officer of the Partnership (and countersigned by GE Capital) that (i) the Operating Cash Flow Ratio for each of the two Quarterly Measurement Periods immediately preceding the date of such certificate was greater than 1.20 to 1 and provided that no Le ase Default or Lease Event of Default shall have occurred and be continuing (as set forth in such certificate), the Security Ag ent shall transfer the amounts on deposit in the Distribution Reserve Account to the Revenue Account.
Distribution Reserve Account. (a) To the extent that at any time the cash then available in the Revenue Account is insufficient to make any of the payments, deposits or transfers contemplated by Sections 4.1, 4.2, 4.3 and 4.4, the Security Agent shall from and to the extent of the cash available in the Distribution Reserve Account withdraw such amounts from the Distribution Reserve Account as directed by the Administrative Agent and the Owner Participant and make the aforesaid payments, deposits and transfers.
(b) If, as of any Basic Rent Payment Date, the Security Agent shall have received a certificate of an Authorized Officer of the Partnership (and countersigned by the Administrative Agent and the Owner Participant that (i) the Operating Cash Flow Ratio for each of the two Quarterly Measurement Periods immediately preceding the date of such certificate was greater than 1.20 to 1 and provided that no Lease Default or Lease Event of Default shall have occurred and be continuing (as set forth in such certificate), the Security Agent shall transfer the amounts on deposit in the Distribution Reserve Account to the Revenue Account.
Distribution Reserve Account. The Borrower shall deposit, or cause to be deposited, in the Distribution Reserve Account all amounts transferred from the Revenue Account pursuant to the TWELFTH priority of Section 3.2(b).
Distribution Reserve Account. (a)On any date no later than ten (10) Business Days after each Quarterly Payment Date, the Borrower, pursuant to a Withdrawal Certificate, may instruct the Depositary Agent to withdraw and transfer to any Person specified in such Withdrawal Certificate, all or such portion of the funds on deposit in the Distribution Reserve Account as the Borrower shall specify in such Withdrawal Certificate; provided, however, such Withdrawal Certificate shall contain a certification by an Authorized Officer of the Borrower certifying that, as of the date of such withdrawal from the Distribution Reserve Account, each of the conditions to the making of a Restricted Payment set forth in Section 5.11 of the Financing Agreement is satisfied. Upon the receipt by the Depositary Agent of a Withdrawal Certificate duly completed, executed and delivered by the Borrower in accordance with Section 3.11, the Depositary Agent shall transfer funds in the Distribution Reserve Account to the Persons and in the amounts specified in such Withdrawal Certificate in accordance with the instructions set forth therein.
Distribution Reserve Account. In accordance with Section 3.6(a) of the Depositary Agreement, we request that $[_________] be withdrawn from the Distribution Reserve Account and transferred as set forth in greater detail in Part L of the attached Schedule I. As part of this request, we hereby certify that the requested date of transfer is no later than ten (10) Business Days after the most recent Quarterly Payment Date and, as of the date of such withdrawal from the Distribution Reserve Account, each of the conditions to the making of a Restricted Payment set forth in Section 5.11 of the Financing Agreement is satisfied. The Borrower hereby represents and warrants that Borrower is entitled, pursuant to the Depositary Agreement and the Financing Agreement, to request the transfers in the manner, at the times and in the amounts set forth herein.
Distribution Reserve Account. The Trustee shall establish the Distribution Reserve Account as of the initial Trust Distribution Date. The Trustee shall deposit into the Distribution Reserve Account on each Trust Distribution Date, pending resolution of Disputed Claims and/or pending a final determination as to whether a Disputed Interest will become an Allowed Interest, that portion of Trust Recoveries that would otherwise be distributable in accordance with the Plan in respect of such Disputed Claims and such Disputed Interest, if such Disputed Claim or Disputed Interest had then constituted an Allowed Claim or an Allowed Interest entitled to receive Trust Recoveries in accordance with the Plan. The amount of such deposits made by the Trustee into the Distribution Reserve Account on any Distribution Date shall be in an amount consistent with the Beneficiary List. The Trustee shall distribute the Net Trust Recoveries on deposit in the Distribution Reserve Account to the holder of any Disputed Claims and Disputed Class 11 Interests that become Allowed Claims or Allowed Class 11 Interests (as applicable) only upon the Trustee's receipt of written notice from Reorganized Debtors, in accordance with Section 5.1 below, that any such Disputed Claim or Disputed Interest has become an Allowed Claim or Allowed Interest, as applicable, and in accordance with the provisions of Section 6.2 below.
