Excess Distributable Cash definition

Excess Distributable Cash. (“EDC”) means an amount that is equal to any remaining cash in the Fund after having paid out interest and principal payments on any Credit Facility, interest on or repayments of any amounts borrowed from the Subscription Account, Fund Expenses, the 2% (annualized) Management Fee and other fees owed to the Manager, the Preferred Return, eligible Redemptions in the discretion of the Manager, and having reserved sufficient capital for future activities of the Fund, as determined in the sole judgment of the Manager. The EDC shall be determined quarterly, and at the end of each calendar quarter, payment of any EDC shall either be made or not made depending on Fund results at the discretion of the Manager.

Excess Distributable Cash means, only in the event that the Winning Bidder is an Entity other than the Term Loan Lenders, any Cash proceeds of a Sale Transaction (i) in excess of amounts necessary to satisfy all Claims senior in priority to General Unsecured Claims, including the DIP Claims, the ABL Claims, and the Term Loan Claims, in full, in Cash, as provided herein, and (ii) that do not comprise the Hollander Canada Cash Allocation.

Excess Distributable Cash or “EDC” means any remaining amounts of Distributable Cash following the deduction of the preferred returns paid to the members and an amount equal to twenty percent (20%) of the preferred return distributable to the Manager as determined at the in the sole discretion of the Manager. Following each quarter end, payment of any Preferred Return and/or EDC shall either be made or not made depending on Fund results at the discretion of the Manager and shall be Cumulative. “Fair market value” shall be determined by the manager based upon a combination of recent appraisals; third party valuations; and additional internal valuation methods including but not limited to cap rate and income valuations.

Examples of Excess Distributable Cash in a sentence

• This discussion assumes that each class of debt instruments issued pursuant to the Prepetition Secured Credit Agreement Documents is treated as a “security” under the applicable guidance, however, if all such debt instruments were not treated as a security, the discussion below applicable to fully taxable exchanges would apply to the exchange of the Prepetition Secured Lender Claims for the Purchaser Credit Bid and Excess Distributable Cash.

• Specifically, as a first step in making a Subclass 3A Distribution, the Reorganization Plan provides that the holders of Allowed Priority Bank Claims will receive first, to the extent available, Excess Distributable Cash, and thereafter New High Yield Secured Notes in an amount equal to the Allowed Priority Bank Claims in full settlement, release and discharge of such Claims.

• Such holders generally will recognize income, gain or loss for federal income tax purposes in an amount equal to the difference between (x) the aggregate value of the Excess Distributable Cash and Purchaser Credit Bid received in exchange for such holder’s Claim and (y) such holder’s adjusted tax basis in its Claim.

• Without limiting the foregoing, the Manager may in its discretion withhold any Distributions under this Section 5.2 and instead retain amounts as reserves for future liabilities or other expenses and apply the Excess Distributable Cash to acquire Company Assets.

• To assist with the facilitation of this research the focus will be on a timber producer and retailer from Sweden and the UK respectfully.

More Definitions of Excess Distributable Cash

Excess Distributable Cash means any Cash proceeds or other Sale Proceeds of a Sale Transaction or the Wind-Down Trust Assets in excess of amounts necessary to satisfy the $1.0 million reserved in the Wind-Down Trust for purposes set forth in Article IV.E.1 of the Plan, and all Claims senior in priority to General Unsecured Claims, including the DIP Claims, the ABL Claims, and the Term Loan Claims, in full, in Cash, as provided herein.

Excess Distributable Cash means any Distributable Cash in excess of amounts necessary to fund the Unsecured Creditor Recovery Pool, the Term Loan Tranche B Recovery, the Sale Closing Incentive Payment, and Wind Down Budget and pay in full in Cash all Administrative Claims, Professional Fee Claims (including the Professional Fee Escrow Amount), DIP Claims, Priority Tax Claims, Secured Tax Claims, Other Secured Claims, and Other Priority Claims to the extent such payments are or will be made pursuant to Article II or Article III of this Plan; provided that any Avoidance Action Cash Proceeds shall not constitute Excess Distributable Cash; provided further that any Cash reserved to fund the Wind Down Budget that is not disbursed by the Plan Administrator on or before completion of the wind down and dissolution of the Debtors’ Estates and the Post Effective Date Debtors, as applicable, shall be deemed Excess Distributable Cash.

Excess Distributable Cash or “EDC” means any Distributable Cash remaining after the Company pays any Preferred Return to the Members and all other fees and expenses payable by the Company pursuant to the Waterfall. The EDC will be determined quarterly by the Manager. Payment of any EDC will either be made or not made following the end of each quarter, depending on the Company’s results, as determined by the Manager in its sole discretion and subject to the terms of this Operating Agreement.

Excess Distributable Cash means, only in the event that the Winning Bidder is an Entity other than the Secured Credit Agreement Lenders, any Cash proceeds of a Sale Transaction in excess of amounts necessary to (a) satisfy all Claims senior in priority to General Unsecured Claims, including the DIP Claims, the Secured Revolving Loan Claims, and the Secured Term Loan Claims, in full, in Cash, as provided herein and (b) fund the Critical Trade Claims Recovery Pool.

Excess Distributable Cash or “EDC” means any remaining amounts of Distributable Cash following the deduction of an amount equal to twenty percent (20%) of the preferred return distributable to the Members and the Manager pursuant to the Operating Agreement, as determined at the end of each quarter at the sole discretion of the Manager.

Excess Distributable Cash means an amount equal to Distributable Cash minus $4,000,000 (but in no event shall Excess Distributable Cash be less than zero).

Excess Distributable Cash means, at any time, cumulative from and including January 1, 2000, Consolidated EBITDA, less Consolidated Interest Expense, less all operating lease payments of the Borrower and the Subsidiaries (not otherwise expensed) through the most recent quarter ended, less any Restricted Payments made since January 1, 2000.