Distribution Priority definition

Distribution Priority means (a) with respect to each Quest Seller, the priority to which he, she or it is entitled to receive distributions pursuant to Section 5.2 of the Voyage Holdings LLC Agreement, (b) with respect to VMG Tax-Exempt, a portion of the priority to which VMG Holdco is entitled to receive distributions (based on VMG Blocker’s ownership interest in VMG Holdco), pursuant to Section 5.2 of the Voyage Holdings LLC Agreement (the “VMG Tax-Exempt Distribution Priority”) and (c) with respect to VMG Holdco, the priority to which VMG Holdco is entitled to receive distributions pursuant to Section 5.2 of the Voyage Holdings LLC Agreement less the VMG Tax-Exempt Distribution Priority.

Distribution Priority means the priority in distribution of cash flow that expired on July 1, 2008.

Distribution Priority means (a) with respect to each Quest Seller, the priority to which he, she or it is entitled to receive distributions pursuant to Section 5.2 of the Voyage Holdings LLC Agreement, (b) with respect to VMG Tax-Exempt, a portion of the priority to which VMG Holdco is entitled to receive distributions (based on VMG Blocker’s ownership interest in VMG Holdco), pursuant to Section 5.2 of the Voyage Holdings LLC Agreement (the “VMG Tax-Exempt Distribution Priority”) and (c) with respect to VMG Holdco, the priority to which VMG Holdco is entitled to receive distributions pursuant to S ection 5.2 of the Voyage Holdings LLC Agreement less the VMG Tax-Exempt Distribution Priority.

Examples of Distribution Priority in a sentence

• The holders of Priority Units as a class shall be entitled to receive, in priority to holders of Subordinated Units, net assets of the Trust in the event of termination or winding up of the Trust, in an amount (the “Liquidation Priority Amount”) equal to the total of (i) any portion of the Distribution Priority Amount which has not been paid to them and (ii) the amounts paid to the Trust by such holders to subscribe for the Priority Units held by them.

• All Priority Units outstanding from time to time represent an equal fractional undivided beneficial interest in and shall be entitled to equal shares in any distributions by the Trust of the Distribution Priority Amount.

More Definitions of Distribution Priority

Distribution Priority means (a) with respect to each THP Seller, the priority to which he, she or it is entitled to receive distributions, (b) with respect to Blocker I Seller, a portion of the priority to which VMG Holdco is entitled to receive distributions (based on Blocker I’s ownership interest in VMG Holdco immediately prior to the VMG Holdco Redemption) and (c) with respect to Blocker II Seller, the priority to which Blocker II is entitled to receive distributions, in each case, pursuant to Section 6.01 of the THP Operating Agreement.

Distribution Priority. The total of all payments or other collections (or advances in lieu thereof) on or in respect of the loans (but excluding prepayment premiums), net of servicing fees, trustee fees and premium owed to the Certificate Insurer, that, together with any insured payments, generally will be allocated in the following priority:

Distribution Priority. After the Pre Start Date Period........................................... 23 7.3. ECC Performance Guarantee Offset................... 24 ARTICLE VIII. MANAGEMENT......................................... 24 8.1. Operations......................................... 24 8.2. Representatives ................................... 24 8.3. Fundamental Business Strategies.................... 25