Common use of Minimum Distributions Clause in Contracts

Minimum Distributions. No fractional shares of New Common Equity shall be distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest would otherwise result in the issuance of a number of shares of New Common Equity that is not a whole number, the actual distribution of shares of New Common Equity shall be rounded as follows: (a) fractions of one-half (1/2) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/2) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Common Equity to be distributed to holders of Allowed Claims and Allowed Interests shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Samples: Restructuring and Support Agreement (NBC Acquisition Corp)

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Minimum Distributions. No fractional shares of New Common Equity Interests shall be distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest (as applicable) would otherwise result in the issuance of a number of shares of New Common Equity Interests that is not a whole number, the actual distribution of shares of New Common Equity Interests shall be rounded as follows: (a) fractions of one-half (1/21⁄2) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/21⁄2) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Common Equity Interests to be distributed to holders of Allowed Claims and Allowed Interests under the Plan shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Samples: Restructuring Support Agreement (Avaya Holdings Corp.)

Minimum Distributions. No fractional shares of New Common Equity Stock shall be distributed distributed, and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an applicable Allowed Claim or Allowed Interest would otherwise result in the issuance of a number of shares of New Common Equity Stock that is not a whole number, the actual distribution of shares of the New Common Equity Stock shall be rounded as follows: ; (a) fractions of one-half (1/2) or greater shall be rounded to the next higher highest whole number and (b) fractions of less than one-half (1/2) shall be rounded to the next lower whole number with no further payment thereforetherefor. The total number of authorized shares of New Common Equity to be distributed to holders of Allowed Claims and Allowed Interests Stock shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Samples: Restructuring Support Agreement (Ion Geophysical Corp)

Minimum Distributions. No fractional shares of New Common Equity Interests or Warrants shall be distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest (as applicable) would otherwise result in the issuance of a number of shares of New Common Equity Interests or Warrants that is not a whole number, the actual distribution of shares of New Common Equity Interests or Warrants shall be rounded as follows: (a) fractions of one-half (1/2½) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/2½) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Common Equity Interests or Warrants to be distributed to holders Holders of Allowed Claims and Allowed Interests shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (QualTek Services Inc.)

Minimum Distributions. No fractional shares of New Common Equity Interests shall be distributed distributed, and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the this Plan on account of an Allowed Claim or Allowed Interest Equity Interest, as applicable, would otherwise result in the issuance of a number of shares of New Common Equity Interests that is not a whole number, the actual distribution of shares of New Common Equity Interests shall be rounded as follows: (a) fractions of one-half (1/2½) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/2½) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Common Equity Interests to be distributed to holders of Allowed Claims and Allowed Interests under this Plan shall be adjusted as necessary to account for the foregoing rounding. 4.

Appears in 1 contract

Samples: Appgate, Inc.

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Minimum Distributions. No fractional shares of New Common Equity Stock shall be distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest would otherwise result in the issuance of a number of shares of New Common Equity Stock that is not a whole number, the actual distribution of shares of New Common Equity Stock shall be rounded as follows: (a) fractions of one-half (1/2½) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/2½) shall be rounded to the next lower whole number with no further payment thereforetherefor. The total number of authorized shares of New Common Equity Stock to be distributed to holders Holders of Allowed Claims and Allowed Interests (or their Permitted Designees) hereunder shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Samples: Restructuring Support Agreement (Lannett Co Inc)

Minimum Distributions. No fractional shares units of New Common Equity shall be distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest would otherwise result in the issuance of a number an amount of shares units of New Common Equity that is not a whole number, the actual distribution of shares of New Common Equity shall be rounded as follows: (a) fractions of one-half one‑half (1/2½) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/2½) shall be rounded to the next lower whole number with no further payment thereforetherefor. The total number of authorized shares units of New Common Equity to be distributed to holders of Allowed Claims and Allowed Interests hereunder shall be adjusted as necessary to account for the foregoing rounding. Further, no Cash payment of less than $100.00 shall be made to a holder of an Allowed Claim on account of such Allowed Claim.

Appears in 1 contract

Samples: Subscription Agreement (5E Advanced Materials, Inc.)

Minimum Distributions. No fractional shares of New Preferred Stock or New Common Equity Stock shall be distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest (as applicable) would otherwise result in the issuance of a number of shares of New Preferred Stock or New Common Equity Stock that is not a whole number, the actual distribution of shares of New Preferred Stock or New Common Equity Stock shall be rounded as follows: (a) fractions of one-half one‑half (1/2½) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (1/2½) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Preferred Stock or New Common Equity Stock to be distributed to holders of Allowed Claims and Allowed Interests (as applicable) shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Samples: Plan Support Agreement (Vanguard Natural Resources, Inc.)

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