Condition for Liquidation Payment definition

Condition for Liquidation Payment has the meaning set forth in Section 12.02.
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Condition for Liquidation Payment means, upon the occurrence and continuation of a Liquidation Event, all Senior Indebtedness held by creditors of the Company entitled to payment or satisfaction prior to commencement of distribution of residual assets to shareholders of the Company is paid in full or otherwise satisfied in full in the liquidation proceeding (seisan) pursuant to the Company Law.
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Condition for Liquidation Payment means, upon the occurrence and continuation of a Liquidation Event, all Senior Indebtedness held by creditors of the Issuer entitled to payment or satisfaction prior to commencement of distribution of residual assets to shareholders of the Issuer is paid in full or otherwise satisfied in full in the liquidation proceeding (seisan) pursuant to the Companies Act.
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Examples of Condition for Liquidation Payment in a sentence

  • For so long as such Liquidation Event continues, no payments in respect of a Liquidation Claim shall be made unless and until a Condition for Liquidation Payment shall have occurred.

  • For so long as such Liquidation Event continues, no payments in respect of a Liquidation Claim shall be made unless and until a Condition for Liquidation Payment (as defined below) shall have occurred.


More Definitions of Condition for Liquidation Payment

Condition for Liquidation Payment means either of the following conditions:
Sample 1
Condition for Liquidation Payment means, upon the occurrence and continuation of a Liquidation Event, all Senior Indebtedness held by our creditors entitled to payment or satisfaction prior to commencement of distribution of residual assets to our shareholders is paid in full or otherwise satisfied in full in the liquidation proceeding (seisan) pursuant to the Companies Act (as defined below).
Sample 1
Condition for Liquidation Payment means any of the following conditions:
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Related to Condition for Liquidation Payment

  • Termination Payment Date means the earlier of the first Distribution Date following the liquidation or sale of the Receivables as a result of an Insolvency Event and the occurrence of the Scheduled Series 1995-1 Termination Date.

  • Series A Liquidation Value means the sum of the Series A Liquidation Preference and declared and unpaid distributions, if any, to, but excluding, the date of the Dissolution Event on the Series A Preferred Mirror Units.

  • Net Orderly Liquidation Value means, with respect to Inventory of any Person, the orderly liquidation value thereof, net of all costs of liquidation thereof, as based upon the most recent Inventory appraisal conducted in accordance with this Agreement and expressed as a percentage of Cost of such Inventory.