Maximum Distributions Sample Clauses
The Maximum Distributions clause sets a cap on the total amount of funds or assets that can be distributed to parties under an agreement. In practice, this clause limits payouts, dividends, or other forms of distributions to a specified maximum, regardless of the total available resources or profits. By establishing a clear upper limit, the clause helps prevent excessive or unintended distributions, thereby protecting the financial stability of the entity and ensuring predictability for all parties involved.
Maximum Distributions. The ratio of Distributions of FFO to FFO before preferred dividends shall not exceed 95%, measured on a rolling four-quarter basis, provided however, that (i) as long as there is no Default or Event of Default and none of the Loans has been accelerated, EPR shall not be prohibited from making Distributions that are necessary to maintain REIT Status (measured on a rolling four quarter basis), as evidenced by a certificate of the chief financial officer of EPR or its Vice President – Finance containing calculations in reasonable detail reasonably satisfactory in form and substance to the Agent, and (ii) EPR may make additional Distributions to the extent permitted under Section 9.2.
Maximum Distributions. Parent Guarantor shall not make any Distributions in excess of the greater of (a) the amount which, after giving effect to the making of any such Distribution, would exceed (x) one hundred ten percent (110%), for the period from and after the Closing Date through and including May 1, 2019, and (y) one hundred percent (100%), at any time after May 1, 2019, of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) the amount of Distributions required for Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code.
Maximum Distributions. The ratio of Distributions of FFO to FFO before preferred dividends shall not exceed ninety percent (90%), measured on a rolling four-quarter basis, provided however, as long as there is no Default or Event of Default and none of the Loans has been accelerated, EPR shall not be prohibited from making Distributions that are necessary to maintain REIT Status (measured on a rolling four quarter basis).
Maximum Distributions. The maximum dividend payout shall not exceed 110% of Funds From Operations (adjusted for one-time charges, equity compensation and acquisition costs) for the Borrower and its respective subsidiaries over the prior four quarters; reducing to 100% 24 months after closing. Upon a non-monetary event of default, Borrower will be restricted from paying any distributions other than those required to maintain REIT status, provided that during a monetary event of default, the borrower will not be permitted to make any distributions, as expressly provided in Section 9.4 of the Draft Credit Agreement.
Maximum Distributions. Parent Guarantor shall not make any Distributions (a) which, after giving effect to the making of any such Distribution, would exceed an amount equal to (x) one hundred ten percent (110%), for the period from and after the Closing Date through and including September 17, 2017, and (y) one hundred percent (100%), at any time after September 17, 2017, of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) at any time that an Event of Default shall exist; provided, however, that so long as no Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing Distributions shall be permitted to the extent required for the Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Guarantor to maintain its status as a real estate investment trust (but, for the avoidance of doubt, if any Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing, no Distributions shall be permitted).
Maximum Distributions. (a) Prior to the Investment Grade Rating Date, Parent Guarantor shall not make any Distributions in excess of the greater of (i) the amount which, after giving effect to the making of any such Distribution, would exceed (x) one hundred percent (100%), for the period from May 9, 2021 through and including June 30, 2022, or (y) ninety-five (95%) at any time after June 30, 2022, in either case of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (ii) the amount of Distributions required for Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code.
(b) Following the date on which Parent Guarantor or Borrower has achieved an Investment Grade Rating, so long as no Default or Event of Default exists or would result therefrom, Parent Guarantor may declare or make cash Distributions to its shareholders.
(c) Notwithstanding the foregoing in clause (a) and (b) above, if a Default or Event of Default exists or would result therefrom, (x) Borrower may declare and make cash Distributions to Parent Guarantor and other holders of partnership interests in Borrower with respect to any fiscal year only to the extent necessary for Parent Guarantor to distribute, and Parent Guarantor may so distribute, an aggregate amount not to exceed the minimum amount necessary for Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code; provided that upon the occurrence of any Default or Event of Default specified in §12.1(h), §12.1(i) or §12.1(j), or the acceleration of the maturity of any of the Obligations, neither Parent Guarantor nor Borrower shall make any Distributions.
Maximum Distributions. Notwithstanding anything in this Agreement to the contrary, in no event shall Acquiror be entitled to received shares of Acquiror Stock having an aggregate value of greater than $2,500,000 (calculated, in each case, based on the shares of Acquiror Stock being disbursed multiplied by the Market Price employed in connection with such disbursement). At such time as the aggregate amount paid to Acquiror (calculated in accordance with the foregoing sentence) equals $2,500,000, any remaining Escrow Indemnity Funds shall be disbursed to the Stockholders and this Agreement shall terminate, all in accordance with the other provisions of this Agreement.
Maximum Distributions. Parent Guarantor shall not make any Distributions (a) which, after giving effect to the making of any such Distribution, would exceed an amount equal to (x) one hundred ten percent (110%), for the period from and after the Orginal Closing Date through and including September 17, 2017, and (y) one hundred percent (100%), at any time after September 17, 2017, of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) at any time that an Event of Default shall exist (or if an Event of Default would result from the making of any such Distribution); provided, however, that so long as no Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing Distributions shall be permitted to the extent required for the Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust (but, for the avoidance of doubt, if any Event of Default under §12.1(a), §12.1(b), §12.1(h), §12.1(i), and/or §12.1(j) shall have occurred and be continuing, no Distributions shall be permitted).
Maximum Distributions. Parent Guarantor shall not make any Distributions in excess of the greater of (a) the amount which, after giving effect to the making of any such Distribution, would exceed one hundred percent (100%) of Funds from Operations of the Consolidated Group for the four (4) fiscal quarter period then most recently ended and (b) the amount of Distributions required for Parent Guarantor to comply with all applicable provisions of the Code necessary or required to allow Parent Guarantor to maintain its status as a real estate investment trust and to avoid imposition of income or excise taxes under the Code.
Maximum Distributions. Borrower shall not be permitted to make distributions (including for tax liability purposes) in excess of 75% of the net income of Borrower (in the aggregate). The foregoing covenant shall be calculated based upon dividends paid throughout the year to the owners for regular distributions and a tax distribution made in the following year after the Borrower’s CPA advises of the tax owed fiscal year end. Any tax distribution made in the current fiscal year for the prior year results would be excluded from the calculation for the current year. The foregoing covenant shall be tested on an annual basis based upon the Borrower’s annual CPA audited financial statements provided to Lender.