Merck Dividend definition

Merck Dividend has the meaning set forth in the Recitals hereof.
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Merck Dividend means one or more dividends in the aggregate not exceeding $2,000,000,000 made, or to be made, by the Borrower to Merck in connection with the Spin-Off.
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Merck Dividend means the $1,500,000,000 (1.5 billion dollars) dividend from the Borrower to Merck, a portion of which is to be paid from the proceeds of the Loans and a portion of which is to be paid from the proceeds of the Notes Offering or the Bridge Facility.
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Examples of Merck Dividend in a sentence

  • The Merck Dividend shall have been paid, on or prior to the Distribution Date, by Medco to Merck, as the sole holder of the Medco Common Stock.

  • Merck Dividend" has the meaning set forth in the Recitals hereof.

  • Medco shall enter into the Credit Facility in form and substance acceptable to Merck and shall borrow at least the amount necessary so that, together with the proceeds from the Notes Offering and the Intercompany Payment, Medco will have sufficient funds to pay the Merck Dividend.

  • Medco will declare the Merck Dividend in the aggregate amount of $2 billion, payable on or prior to the Distribution Date to Merck, as the sole holder of Medco Common Stock.

  • Medco shall have consummated the Notes Offering and the Credit Facility on terms satisfactory to Merck and have sufficient proceeds and capital to pay the Merck Dividend to Merck.

  • On or prior to the Distribution Date, Medco shall pay to Merck $2 billion in respect of the Merck Dividend.

  • The proceeds of the Term Loan shall only, and up to $50,000,000 of the Revolving Loans may, be used, together with proceeds from the Notes Offering, initial proceeds of the Securitization and available cash (including from settlement of an intercompany payable owed to the Borrower by Merck), to pay the Merck Dividend.

  • On the Closing Date, and immediately after giving effect to the Spin-Off, payment of the Merck Dividend, the Notes Offering and the Securitization, the Borrower and each Significant Subsidiary is and will be Solvent.

  • Medco shall declare, and not take any action to revoke or rescind, the Merck Dividend.

  • The proceeds of the Loan shall only be used, together with proceeds from the Five Year Facility, to pay for the Merck Dividend.