Excess Capital definition

Excess Capital means, with respect to any Partner for any relevant Quarter, the excess, if any, of (i) such Partner’s Excess Capital Contributions, over (ii) the aggregate amount of distributions made to such Partner pursuant to Section 6.2.

Excess Capital has the meaning set forth in Section 6.

Excess Capital has the meaning set forth in Section 1.1(d).

Examples of Excess Capital in a sentence

• The Percentage Equity Interest and Percentage Voting Interest of any Partner making an Excess Capital Contribution shall not be adjusted as a result of such Excess Capital Contribution.

• The Holder hereof shall within five (5) Trading Days, by notice to the Company, elect whether to receive repayment of all or part of the Excess Capital.

• If a Netting Member maintains an Excess Capital Ratio greater than 1.0, then the Corporation may require the Netting Member to make and maintain an additional deposit to the Clearing Fund in an amount equal to the product of its Excess Capital Differential multiplied by its Excess Capital Ratio.

• Net Excess Capital with respect to all Regulated Subsidiaries at any time to be less than $225,000,000.

• The Company shall engage a nationally-recognized or regionally-recognized independent accounting firm to conduct a physical count of all of the Excess Capital Equipment within ten (10) days prior to the Closing, which physical count may be observed by Parent and its accounting advisors if in compliance with applicable Legal Requirements (including, if applicable, by allowing the Parent and its accounting advisors to observe by electronic video means).

More Definitions of Excess Capital

Excess Capital means the difference between (x) the sum of (i) the difference between (A) the sum of (1) the aggregate amount of any Indebtedness for borrowed money incurred by any Affiliated Company from any Person other than an Affiliated Company after the date hereof (other than Indebtedness under the Credit Agreement, Indebtedness incurred to Refinance other Indebtedness, un-drawn amounts under revolving credit facilities and amounts drawn under any revolving credit facility to 3 the extent such amounts have previously been borrowed and repaid), net of any fees and expenses incurred in connection therewith, plus (2) the proceeds received by an Affiliated Company from any Person other than an Affiliated Company after the date hereof from the sale of capital stock of such Affiliated Company (other than the proceeds received from officers, directors or employees of any of the Affiliated Companies upon exercise of stock options or issuances of restricted stock and from the exercise of outstanding warrants), net of any fees and expenses incurred in connection therewith, minus (B) $5,000,000, plus (ii) the difference between (I) the after-tax proceeds received by any of the Affiliated Companies from any Person other than an Affiliated Company after the date hereof from the sale of assets (other than sales of assets in the ordinary course of business), net of any fees and expenses incurred in connection therewith, minus (II) $5,000,000; minus (y) the sum of all mandatory prepayments made pursuant to the other Purchase Notes with any such amounts.

Excess Capital means the amount (if any) by which the Estimated Closing TBV exceeds the Target Closing TBV.

Excess Capital means the amount (if any) by which the Estimated Closing TBV exceeds the Target Closing TBV. “Excess Capital Amount” has the meaning set forth in Section 5.16. “Exchange Act” means the Securities Exchange Act of 1934. “Excluded Assets and Liabilities” has the meaning set forth in Section 5.14(a). “Excluded Assets and Liabilities Transfer” has the meaning set forth in Section 5.14(a). “Excluded Customer” means any customer that is (a) a private equity or other fund sponsor and its individual funds and portfolio companies or (b) a Japanese Corporate

Excess Capital means the excess (if any) of (a) the aggregate amount of Deposited Funds (if any) over (b) amounts owing (or to be owed) in respect of Secured Obligations which by their terms are senior to the Junior Obligations;

Excess Capital means the excess of the Tangible Net Asset Value of Bermuda Holdco as of the Third Party Sale Closing Date over the Target TNAV Amount, and (ii) “Target TNAV Amount” means an amount that Tower specifies in a written notice to Parent delivered prior to the date of the Third Party Sale Agreement as the target amount of Tangible Net Asset Value of Bermuda Holdco as of the Third Party Sale Closing Date.

Excess Capital shall have the meaning given to that term in Section 2.2.

Excess Capital means, during any fiscal year, the aggregate amount of Net Proceeds from the issuance of Indebtedness permitted to be incurred under this Agreement (other than any proceeds of the Initial Permitted Financing (including the Senior Unsecured Facility) and the Loans) received during such year and not required to be applied to prepay Term Borrowings pursuant to Section 2.10 or other Indebtedness, including the ATX Notes.