Net Distribution Proceeds definition

Net Distribution Proceeds means 100% of the aggregate amount of the proceeds of any dividend or other distribution initially originating from Opco or any Opco Subsidiary (other than (i) dividends or other distributions on Equity Interests payable solely by the issuance of additional Equity Interests other than Disqualified Stock, (ii) dividends or other distributions made by any Opco Subsidiary to Opco or any Opco Subsidiary, (iii) those made pursuant to Section 6.06(b) of the Existing Credit Agreement (but with respect to Section 6.06(b)(iv) thereof, only those made pursuant to subclauses (iv), (vi), (ix), (xiv) and (xvii) of Section 6.07(b) thereof) and Sections 6.06(c), (g), (i) or (k) of the Existing Credit Agreement and (iv) those made in connection with the 2017 Transactions), in each case net of (a) costs incurred in connection therewith (including legal, advisory and accounting) and (b) taxes paid or payable as a result thereof.

Net Distribution Proceeds means, with respect to any capital distribution, the cash proceeds of such capital distribution net of any applicable and documented income or other taxes actually paid or estimated to be payable in respect of such capital distribution.

Net Distribution Proceeds means an amount determined by the Calculation Agent being the proceeds of any distribution in respect of the Charged Assets which the Calculation Agent is satisfied is in the nature of interest or is not required to discharge any principal amount outstanding of the Notes less:

Examples of Net Distribution Proceeds in a sentence

• As discussed below, each Holder of an Allowed Unsecured Claim shall receive its Pro Rata Share of the Net Distribution Proceeds in accordance with the treatment provided for such Class described below.

• Promptly after the end of such 180- day period, Parent shall notify Administrative Agent whether such investment, reinvestment or distribution occurred, and to the extent such Net Distribution Proceeds have not been so invested, reinvested or distributed, Borrowers shall promptly prepay the Obligations in the amount of such Net Disposition Proceeds not so invested or reinvested.

• Class 5 (General Unsecured Claims) shall receive $7.2 million of Net Distribution Proceeds (the “ Class 5 Distribution Amount”), for distribution Pro Rata on account of the Allowed Class 5 General Unsecured Claims.

• Class 4 (FS Deficiency/Unsecured Claims) shall receive $19 million of Net Distribution Proceeds (the “ Class 4 Distribution Amount”) for distribution on account of the Allowed Florida Sawmills Claim (the sole Allowed Claim in Class 4).

• Timing of Payments.All Net Distribution Proceeds available for distribution on account of the Allowed Class 4 Claim ( i.e., the Florida Sawmills Claim), Allowed Class 5 Claims, and Allowed Class 6 Claims (i.e., the Affiliate Claims) as of the Effective Date shall be distributed to Holders of such Allowed Claims on or as soon as practicable after the Effective Date in accordance with the Plan.

More Definitions of Net Distribution Proceeds

Net Distribution Proceeds means the Distribution Proceeds available for distribution after funding, reserving for or payment of all Allowed Administrative Expense Claims, Allowed Priority Tax Claims, Allowed FS Secured Claims, Allowed Affiliate Secured Claims, Allowed Other Secured Claims, Allowed Priority Claims, and Allowed WARN Act Class Settlement Claims, exclusive of any portion of such Allowed WARN Act Class Settlement Claims that constitutes an Allowed General Unsecured Claim.

Net Distribution Proceeds means the total gross amount of cash proceeds of any dividend or other distribution to the Borrower from the Senior Borrower, minus any amounts applied (a) in any payment or prepayment of principal of the Loan and/or any accrued PIK Interest in accordance with Clause 8.3 (Payment of PIK Interest in cash) and (b) in payment of customary professional fees and administrative costs and expenses in the ordinary course of business of the Borrower as a holding company;

Net Distribution Proceeds means, with respect to any capital distribution, the proceeds of such capital distribution net of (i) any applicable income or other taxes actually paid or estimated to be payable in respect of such capital distribution and (ii) any repayments in cash by the Borrower or any of its Subsidiaries of Indebtedness to the extent that (x) such Indebtedness or any Contingent Obligations in connection with such Indebtedness is secured by a Lien on the Capital Stock of CIESA or TGS and is required to be repaid with such proceeds, (y) such Indebtedness or any Lien or Contingent Obligations in connection with such Indebtedness were not created in connection with or in anticipation of such sale or event and (z) such Indebtedness is actually repaid or defeased with such proceeds.

Net Distribution Proceeds means the Gross Distribution Proceeds, less the Underwriting Fee and the Underwriters’ expenses, as per Section 16 and Section 19, respectively;

Net Distribution Proceeds means the funds in the Segregated Account available for distribution to Holders of Allowed Unsecured Claims after funding, reserving for or payment of (a) all Allowed Administrative Expense Claims, Allowed Priority Tax Claims, Allowed CS Secured Claims, Allowed Priority Claims, and Allowed WARN Act Class Settlement Claims, and (b) the Liquidating Trust Expenses.

Net Distribution Proceeds means, in respect of any Distributions received by or paid to the order of the Borrower (other than in respect of Net Escrow Amounts which originally derived from the Cash Escrow Account), the aggregate amount of such Distributions, after deducting (without duplication) any amounts of interest payable by the Borrower pursuant to Clause 8 (Interest) and reasonable operating expenses and/or Taxes (in the case of Taxes, as reasonably determined by the Borrower, on the basis of existing rates and taking account of any available credit, deduction or allowance) incurred by the Borrower (in favour of persons who are not members of the Group or Related Persons) with respect to the receipt of such Distributions.

Net Distribution Proceeds means, in respect of any Distributions received by or paid to the order of the Borrower (other than in respect of Net Escrow Amounts which originally derived from the Cash Escrow Account), the aggregate amount of such Distributions, after deducting (without duplication) any amounts of interest payable by the Borrower pursuant to Clause ‎8 (Interest) and reasonable operating expenses and/or Taxes (in the case of Taxes, as reasonably determined by the Borrower, on the basis of existing rates and taking account of any available credit, deduction or allowance) incurred by the Borrower (in favour of persons who are not members of the Group or Related Persons) with respect to the receipt of such Distributions.