Distributable Reserve definition

Distributable Reserve means a distributable reserve other than a share premium reserve maintained by the Company for the benefit of the holders of a series of Preferred Shares pursuant to these Articles of Association;

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Distributable Reserve means a distributable reserve other than a share premium reserve maintained by the Company for the benefit of the holders of a series of Financing Preferred Shares;

Distributable Reserve means any amount which has been transferred to reserves and which may be distributed by way of dividend, and “non-distributable reserve” shall be construed accordingly;

Examples of Distributable Reserve in a sentence

• Each benefit recipient’s share will be computed by dividing the benefit recipient’s total points by the total points of all eligible benefit recipients and multiplying the result by the Distributable Reserve.

• The Company shall keep the Representatives reasonably apprised of the status of matters relating to the Distributable Reserve Petition and shall promptly notify the Representatives upon the approval or rejection thereof by the Irish High Court.

• In addition to the foregoing, to the extent the Company is unable to create sufficient distributable reserves through the Distributable Reserve Petition (or a successor petition thereto) to permit the Company to pay cash dividends on the Preferred Shares, the Company shall use reasonable best efforts to create sufficient distributable reserves through the distribution of earnings from the Company’s subsidiaries to the Company.

More Definitions of Distributable Reserve

Distributable Reserve means, subject to subparagraph (3) of this paragraph, any amount which has been carried and which may, in accordance with generally accepted accounting practice and legal principles, be taken to the credit of the income statement and distributed by way of dividend, and does not include any amount retained by way of providing for any known liability; and “non-distributable reserve” shall be construed accordingly;

Distributable Reserve means the portion of the Net Asset Value of the Company attributable to Repurchase Pool Shares which is available to satisfy repurchases of those shares.