Dividend Reserve definition

Dividend Reserve means a segregated Securities Account and/or Deposit Account held by the Borrower, which shall be designated as the Dividend Reserve by the Borrower to the Administrative Agent in writing, shall be subject to an Account Control Agreement and shall hold only the proceeds of the Loans funded to the Dividend Reserve pursuant to Section 5.11(iii) on the Closing Date (and thereafter no other amounts shall be deposited in the Dividend Reserve); provided that subject to Section 5.16, a Securities Account and/or Deposit Account existing as of the Closing Date held by the Borrower, which shall be designated by the Borrower to the Administrative Agent in writing may temporarily act as the Dividend Reserve.
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Dividend Reserve means a reserve which the Administrative Agent from time to time establishes in an aggregate amount equal to all Restricted Payments that are the subject of a Dividend Certification and that have not yet been actually made pursuant to Section 6.08(a)(iv) (such Dividend Reserve shall be released or reduced, as applicable, by the Administrative Agent substantially concurrently with the actual making of each such Restricted Payment permitted by Section 6.08(a)(iv) by the amount of such Restricted Payment).
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Dividend Reserve means a segregated Securities Account and/or Deposit Account held by the Borrower, which shall be designated as the Dividend Reserve by the Borrower to the Administrative 4894-9978-4110 v.2 Agent in writing, shall be subject to an Account Control Agreement and shall hold only the proceeds of the Loans funded to the Dividend Reserve pursuant to Section 5.11(iii) on the Closing Date (and thereafter no other amounts shall be deposited in the Dividend Reserve); provided that subject to Section 5.16, a Securities Account and/or Deposit Account existing as of the Closing Date held by the Borrower, which shall be designated by the Borrower to the Administrative Agent in writing may temporarily act as the Dividend Reserve.
Sample 1

Examples of Dividend Reserve in a sentence

  • Use the proceeds of the Loans only for (i) funding the FRG Acquisition, (ii) the Existing Credit Agreement Refinancing, (iii) to fund the Dividend Reserve in an amount not less than $65,000,000, (iv) to pay fees and expenses in connection with the foregoing and (v) for general corporate purposes of the Group Members.

Related to Dividend Reserve

  • road reserve ’ means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary;

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Dividend Record Date has the meaning set forth in Section 3(a).

  • Preferred Dividends means, for any period and without duplication, all Restricted Payments paid during such period on Preferred Equity Interests issued by the Parent or a Subsidiary. Preferred Dividends shall not include dividends or distributions (a) paid or payable solely in Equity Interests (other than Mandatorily Redeemable Stock) payable to holders of such class of Equity Interests, (b) paid or payable to the Parent or a Subsidiary, or (c) constituting or resulting in the redemption of Preferred Equity Interests, other than scheduled redemptions not constituting balloon, bullet or similar redemptions in full.

  • Dividend Rate has the meaning set forth in the Statement.

  • Dividend Reinvestment Plan means a regular dividend reinvestment or other plan of the Corporation made available by the Corporation to holders of its securities where such plan permits the holder to direct that some or all of:

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Preference Stock means any and all series of preference stock, having no par value, of the Corporation.

  • Ex-Dividend Date means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  • Company Series A Preferred Stock means the Series A Preferred Stock, par value $0.0001 per share, of the Company.

  • Dividend Date means a date specified in the Issue Resolution on which a dividend in respect of that preference share is payable.

  • Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.

  • Preferred Unit means a fractional share of the Partnership Interests that the General Partner has authorized pursuant to Sections 4.01, 4.03 or 4.04 hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the OP Units.

  • Preferred Stock as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such corporation.

  • Series A Liquidation Preference means a liquidation preference for each Series A Preferred Unit initially equal to $25.00 per unit, which liquidation preference shall be subject to increase by the per Series A Preferred Unit amount of any accumulated and unpaid Series A Distributions (whether or not such distributions shall have been declared).

  • Share Reserve means the number of shares available for issuance under the Plan as set forth in Section 2(a).

  • Company Series C Preferred Stock means the Series C Preferred Stock, par value $0.0001 per share, of the Company.

  • Preference Share means a preference share of a par value of US$0.0001 in the share capital of the Company.