Distribution Condition definition

Distribution Condition means the generation of Excess Revenues by at least one Project during the Preferred Return Year.
Sample 1Sample 2
Distribution Condition means no event of default has occurred and is continuing or would immediately result from any applicable action and either (a) Availability on a pro forma basis after giving effect to such transaction (and the average Availability over the prior 30 day period on a pro forma basis assuming such transaction occurred on the first day of such 30 day prior period) is at least the greater of (i) 20% of the Line Cap and (ii) $20,000,000 at such time or (b)(i) Availability on a pro forma basis after giving effect to such transaction (and the average Availability over the prior 30 day period on a pro forma basis assuming such transaction occurred on the first day of such 30 day prior period) is at least the greater of (A) 15% of the Line Cap and (B) $15,000,000 at such time and (ii) the ABL Co-Borrowers are in pro forma compliance with the Springing Financial Covenant recomputed as of the last day of the most recently ended fiscal quarter for which financial statements are available, whether or not compliance with such Springing Financial Covenant is otherwise required at such time.
Sample 1Sample 2
Distribution Condition means the following conditions in connection with any transaction for which satisfaction of the Distribution Condition is required under this Agreement: (a) no Event of Default has occurred and is continuing or would immediately result upon the consummation of such transaction, (b) Excess Availability on a pro forma basis after giving effect to such transaction is at least the greater of (i) 15% of the Line Cap and (ii) $7,500,000, and (c) if Excess Availability less than is the greater of (i) 20% of the Line Cap and (ii) $7,500,000, pro forma compliance with Section 6.13 immediately after giving effect to such transaction.
Sample 1Sample 2

Examples of Distribution Condition in a sentence

  • No dividends shall be declared or paid or set apart for payment on any Junior Stock (as defined) (other than dividends payable in Common Stock) for any period unless (the "Junior Distribution Condition") the Corporation has declared and paid in cash dividends on the Series B Preferred Stock for eight (8) consecutive quarters.

  • Chemed Corporation and Chemed Capital Trust also announced that they have waived the Minimum Distribution Condition, which requires that for purposes of listing the Convertible Trust Preferred Securities on the New York Stock Exchange, as of the expiration date there be at least 1,000,000 shares validly tendered, by at least 400 record or beneficial holders of Chemed shares.

  • Consummation of the Offer is conditioned on, among other things, (i) receipt of at least 1,200,000 validly tendered Class A Shares (which condition may be waived by the Trust) and (ii) tenders by a sufficient number of holders of Class A Shares such that, as of the Expiration Date, there be at least 400 record or beneficial owners of at least 1,000,000 Preferred Securities to be issued in exchange for such Class A Shares (which condition may not be waived)(the "Minimum Distribution Condition").

  • Prior to making any cash interest payment in respect of the Second Priority Claims, one of the Lead Borrower’s (as defined in the Loan Agreement) financial officers shall execute and deliver a certificate to the Senior Agent certifying (1) that no First Priority Default exists under the Loan Agreement, and (2) that the Second Priority Claim Distribution Condition has been met and satisfied as provided herein.

  • Consummation of the Offer is conditioned on, among other things, (i) receipt of at least 12,000,000 validly tendered Depositary Shares (which condition may be waived by the Trust) and (ii) tenders by a sufficient number of holders of Depositary Shares such that, as of the Expiration Date, there be at least 400 record or beneficial owners of at least 1,000,000 Preferred Securities to be issued in exchange for such Depositary Shares (which condition may not be waived)(the "Minimum Distribution Condition").

  • Consummation of the Offer is conditioned on, among other things, tenders by a sufficient number of holders of Depositary Shares such that, as of the Expiration Date, there be at least 400 record or beneficial owners of at least 1,000,000 Preferred Securities to be issued in exchange for such Depositary Shares (which condition may not be waived)(the "Minimum Distribution Condition").

  • The Company shall use best efforts to provide accurate quarterly and yearly reports, subject to adjustments recommended by the Company’s auditors.

  • Consummation of the Offer is conditioned on, among other things, tenders by a sufficient number of holders of Depositary Shares as of the Expiration Date such that, upon exchange of Capital Securities for the Depositary Shares, there be at least 400 record or beneficial holders of at least 1,000,000 Capital Securities to be issued in exchange for such Depositary Shares (the "Minimum Distribution Condition"), which condition may not be waived.

  • Any waiver of any Equity Distribution Condition shall be made solely by the Requisite Consenting Lenders in their sole and absolute discretion.

  • Upon satisfaction by each entity which is a Lender on Effective Date of the Distribution Condition, the Distribution Agent shall have no further obligations or duties under this Agreement.


More Definitions of Distribution Condition

Distribution Condition shall have the meaning set forth on Exhibit D hereto.
Sample 1
Distribution Condition with respect to any particular action as to which the satisfaction of the Distribution Condition is being determined, after giving effect to the taking of such action (and the Distribution Condition will be deemed to be satisfied with respect to such action if), (1) no Event of Default has occurred and is continuing or would immediately result from such action, (2) Availability on a pro forma basis on the date of such proposed action and average daily Availability for the 30-day period prior to such action (calculated on a pro forma basis assuming such action occurred on the first day of such 30-day period), in each case, would be at least the greater of (a) 15% of the Line Cap then in effect and (b) $15,000,000, (3) the Fixed Charge Coverage Ratio would be at least 1.0 to 1.0 on a Pro Forma Basis giving effect to the subject action; provided that compliance with the Fixed Charge Coverage Ratio will not be required if after giving effect to the taking of such action, Availability on a pro forma basis on the date of such proposed action and average daily Availability for the 30-day period prior to such action (calculated on a pro forma basis assuming such action occurred on the first day of such 30-day period), in each case, would be at least the greater of (a) 20% of the Line Cap then in effect and (b) $20,000,000, and (4) the Administrative Agent has received a certificate from a Responsible Officer of the ABL Administrative Borrower certifying as to the calculations and satisfaction of the conditions set forth in foregoing clauses (1) through and including (3) above.
Sample 1
Distribution Condition has the meaning set forth in Section 2.11(c).
Sample 1

Related to Distribution Condition

  • Poor foundation conditions means those areas where features exist which indicate that a natural or man-induced event may result in inadequate foundation support for the structural components of an SWLF unit.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Distribution Compliance Period means the period that ends 40 days after the completion of the distribution of each Tranche of Notes, as certified by the relevant Dealer (in the case of a non-syndicated issue) or the relevant Lead Manager (in the case of a syndicated issue);

  • Final Distribution Date The Distribution Date on which the final distribution in respect of the Certificates is made pursuant to Section 9.01.

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibility conditions listed in Clause [5] of the Tender Document.