Non-Cash Distributions Clause Samples
The Non-Cash Distributions clause defines how distributions made in forms other than cash, such as property, securities, or other assets, are handled under an agreement. It typically outlines the process for valuing these non-cash assets, the timing of their distribution, and any conditions or restrictions that may apply. This clause ensures that all parties understand how non-monetary distributions are managed, providing clarity and fairness when assets other than cash are allocated.
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Non-Cash Distributions. If the Security Agent or any other Secured Party receives a distribution in a form other than in cash in respect of any of the Liabilities, the Liabilities will not be reduced by that distribution until and except to the extent that the realisation proceeds are actually applied towards the Liabilities.
Non-Cash Distributions. Whenever a distribution provided for in this Section 2 shall be payable in property other than cash, the value of such distribution shall be deemed to be the fair market value of such property as determined in good faith by the Board of Directors.
Non-Cash Distributions. With respect to Securities on Loan, Bank need not claim any Non-Cash Distribution thereon from the Borrower thereof or from the Agent, and Bank shall credit the same to the Account only upon its actual receipt thereof (and Bank shall not accrue the same). Lender acknowledges that if, and only if, Lender holds a Security in custody which is the same as the Security on Loan, Bank shall advise Lender (but not the Agent) of Non-Cash Distributions on such Security on Loan to the same extent it would under the Custody Agreement and, subject to subparagraph (d) below, Lender may provide the contents of such advice to Agent.
Non-Cash Distributions. With respect to Securities on Loan, Bank need not claim any non-cash Distribution thereon from the Borrower thereof or from the Agent, and Bank shall credit the same to the Account only upon its actual receipt thereof (and Bank shall not accrue the same). Lender acknowledges that if, and only if, Lender holds a Security in custody which is the same as the Security on Loan, Bank shall advise Lender (but not the Agent) of non-cash Distributions on such Security on Loan to the same extent it would under the Custody Agreement.
Non-Cash Distributions. If the Security Agent or any other Secured Party receives a distribution in a form other than in cash in respect of any of the Liabilities (other than as contemplated in paragraph (e)(ii)(A) of Clause 17.2 (Distressed Disposals)), the Liabilities will not be reduced by that distribution until and except to the extent that the realisation proceeds are actually applied towards the Liabilities.
Non-Cash Distributions. Whenever a Distribution provided for in this Article VI.2 is payable in property other than cash, the value of the Distribution will be deemed to be the Fair Market Value of that property as determined in good faith by the Advisor.
Non-Cash Distributions. If the Security Agent or any Secured Party receives any distribution otherwise than in cash in respect of any Debt, such distribution will not be applied pursuant to Clause 16.1 (Order of Application) and reduce the relevant Debt until cash proceeds from realisation of such distribution have been received and applied by the Security Agent.
Non-Cash Distributions. Whenever a distribution provided for in this Article VIII shall be payable in property other than cash, the value of such distribution shall be deemed to be the Gross Asset Value of such property.
Non-Cash Distributions. If the Security Agent or any other Secured Party receives a distribution in a form other than cash in respect of the Secured Obligations, the Secured Obligations will not be reduced by that distribution until and except to the extent that the realisation proceeds are actually applied towards the Secured Obligations.
Non-Cash Distributions. 48.1 Subject to the terms of issue of the share in question, the company may, by ordinary resolution on the recommendation of the directors, decide to pay all or part of a dividend or other distribution payable in respect of a share by transferring non-cash assets of equivalent value (including, without limitation, shares or other securities in any company).
48.2 For the purposes of paying a non-cash distribution, the directors may make whatever arrangements they think fit, including, where any difficulty arises regarding the distribution:
(a) fixing the value of any assets;
(b) paying cash to any distribution recipient on the basis of that value in order to adjust the rights of recipients; and
(c) vesting any assets in trustees.