Patronage Capital definition

Patronage Capital means all amounts in excess of operating costs and expenses which the Cooperative has allocated to its Patrons or his / her designee. As used herein, “Patronage Capital” shall also include Patronage Capital allocated to the Cooperative by Affiliated Organizations.
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Patronage Capital means the amount of patronage capital dividends credited to the account of Seller at the NRTC for the period through the Closing Date pursuant to Article XII of the NRTC Bylaws, as amended.
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Patronage Capital means all amounts in excess of operating costs and expenses, which the Corporation has allocated to its Members or his/her/its designee. As used herein, “Patronage Capital” shall also include Patronage Capital allocated and received by the Corporation by Affiliated Organizations.
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Examples of Patronage Capital in a sentence

  • The Borrower shall not make, or permit any Subsidiaries of the Borrower to make, any payments to Members in respect of Patronage Capital Certificates unless (i) the TIER for the immediately preceding fiscal year for which financial statements have been delivered to the Banks pursuant to Section 5.03(b) equals or exceeds 1.05:1.00 and (ii) there exists (and would exist after giving effect to any such payment) no Default or Event of Default under this Agreement.

  • The Borrower shall not make, or permit any Subsidiaries of the Borrower to make, any payments to Members in respect of Patronage Capital Certificates unless (i) the TIER for the immediately preceding fiscal year for which financial statements have been delivered to the Administrative Agent pursuant to Section 5.03(b) equals or exceeds 1.05:1.00 and (ii) there exists (and would exist after giving effect to any such payment) no Default or Event of Default under this Agreement.

  • As approved by the Board, the Cooperative may allocate Cooperative Patronage Capital to different classes of similarly situated patrons or former patrons utilizing different manners, methods, timing, and amounts, provided the allocated capital credits are assigned to similarly situated patrons and former patrons under the same manner, method, timing, and amount.

  • The Cooperative shall allocate Cooperative Patronage Capital in accordance with the manner, method, timing, and amount as approved by the Board.

  • The portion of patronage capital not returned to the patrons, under such settlements, shall be debited to Account 201.1, Patronage Capital Credits, and credited to this account.

  • When the return of patrons’ capital to individual patrons has been authorized by the board of directors (or trustees), the amounts authorized shall be transferred to Account 238.1, Patronage Capital Payable.

  • Account 201 shall be subaccounted as follows: 201.1 Patronage Capital Credits 201.2 Patronage Capital Assignable 201.1 Patronage Capital Credits A.

  • Payments of Patronage Capital Credits are the cash payments made to the owners of cooperative associations.viii.

  • Unless otherwise determined by the Board of Directors, unallocated reserves and retained capital are not currently distributable to the Patrons as Patronage Capital Credits.

  • Patronage Capital Patronage capital represents BRECI’s accumulated retained excess of revenues over expenses that has been allocated annually to its members.


More Definitions of Patronage Capital

Patronage Capital means the capital credited to the capital accounts of patrons on the basis of patronage pursuant to the pre-existing obligation to do so in Section 10.02.03 of this Article X.
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Patronage Capital means the combined Patronage Capital and Membership Fees from the Members, as shown in the applicable column on the “Statements of Patronage Capital and Membership Fees and Accumulated Other Comprehensive Margin” of the Borrower.
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Patronage Capital means all amounts received by a distribution cooperative in excess of the distribution cooperative's cost of furnishing power.
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Patronage Capital means all amounts received by the Cooperative from sales of electric energy and distribution services related to such sales in excess of the cost of providing such sales and services and such other margins as may be designated and allocated as patronage capital by the Board.
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Patronage Capital means the combined Patronage Capital and Membership Fees from the Members, as shown in the applicable column on the “Statements of Patronage Capital and Membership Fees and Accumulated Other Comprehensive Margin” of the Borrower. “Payment Recipient” has the meaning set forth in Section 9.12(a). “PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA and any successor thereto. “Periodic Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR” in this Section 1.1. 22 0000-0000-0000.14875-3923-5757.8
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Patronage Capital means the combined Patronage Capital and Membership Fees from the Members, as shown in the applicable column on the “Statements of Patronage Capital and Membership Fees and Accumulated Other Comprehensive Margin” of the Borrower. “PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA and any successor thereto. “Periodic Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”. “Pension Plan” means each Plan which is a Single Employer Plan, a Multiple Employer Plan, or a Multiemployer Plan. “Person” means any individual, partnership, joint venture, firm, corporation, association, trust, limited liability company or other enterprise (whether or not incorporated), or any government or political subdivision or any agency, department or instrumentality thereof. “Plan” means any employee benefit plan (as defined in Section 3(3) of ERISA) which is covered by ERISA and with respect to which the Borrower or any ERISA Affiliate is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” within the meaning of Section 3(5) of ERISA.
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Related to Patronage Capital

  • GE Capital means General Electric Capital Corporation, a Delaware corporation.

  • Venture capital fund means a private fund that meets the definition of a venture capital fund in SEC Rule 203(l)-1, 17 C.F.R. § 275.203(l)-1.

  • Core Capital means the fully paid up members’ shares, capital issued, disclosed reserves, retained earnings, grants and donations all of which are not meant to be expended unless on liquidation of the SACCO society;

  • Unrecovered Capital means at any time, with respect to a Unit, the Initial Unit Price less the sum of all distributions constituting Capital Surplus theretofore made in respect of an Initial Common Unit and any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of an Initial Common Unit, adjusted as the General Partner determines to be appropriate to give effect to any distribution, subdivision or combination of such Units.

  • Virginia venture capital account means an investment fund that has been certified by the

  • Minimum capital or "minimum required capital" means the capital that must be constantly maintained by a stock insurance corporation as required by statute.

  • Original Class A Percentage The Class A Percentage as of the Cut-Off Date, as set forth in Section 11.04.

  • Charter Capital means the amount of capital contributed by all Shareholders and mentioned in Article 5 of this Charter.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Capital means the share capital from time to time of the Company;

  • Investment Capital Expenditures means capital expenditures other than Maintenance Capital Expenditures and Expansion Capital Expenditures.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Capital Commitment means, for any Borrower, the capital commitment of its Investors in the amount set forth in the applicable Subscription Agreements; “Capital Commitments” means all such Capital Commitments, collectively.

  • Mezzanine Investments means debt Securities (including convertible debt Securities (other than the “in-the-money” equity component thereof)) and Preferred Stock in each case (a) issued by public or private issuers, (b) issued without registration under the Securities Act, (c) not issued pursuant to Rule 144A under the Securities Act (or any successor provision thereunder), (d) that are not Cash Equivalents and (e) contractually subordinated in right of payment to other debt of the same issuer.

  • Invested Capital means the amount calculated by multiplying the total number of Shares purchased by Stockholders by the issue price at the time of such purchase, reduced by the portion of any Distribution that is attributable to Net Sales Proceeds and by any amounts paid by the Company to repurchase Shares pursuant to the Company’s plan for the repurchase of Shares.

  • Unreturned Capital Contributions means, in respect of any Member as of a particular date, an amount (but not below zero) equal to the aggregate Capital Contributions made to the Company by such Member through such date less the aggregate amounts distributed to such Member pursuant to Section 5.02(b) (including pursuant to Section 9.02(b)).

  • GE Capital Fee Letter means that certain letter, dated as of the Closing Date, between GE Capital and Borrower with respect to certain Fees to be paid from time to time by Borrower to GE Capital.

  • Class A Percentage Interest means, as of any date, the percentage determined by dividing the number of Class A Units then held by a holder of Class A Units by the total number of Class A Units then outstanding.

  • Working Capital Commitment means, with respect to any Working Capital Lender at any time, the amount set forth opposite such Lender's name on Schedule I hereto under the caption "Working Capital Commitment" or, if such Lender has entered into one or more Assignments and Acceptances, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(d) as such Lender's "Working Capital Commitment", as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Unreturned Capital means, with respect to any Unit, at any time, an amount equal to the excess, if any, of (i) the aggregate amount of Capital Contributions made with respect to such Unit, over (ii) the aggregate amount of Distributions made by the Company with respect to such Unit pursuant to Section 4.01(a)(ii) prior to such time.

  • banking company means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);

  • Junior Capital collectively, any Indebtedness of any Parent or the Borrower that (a) is not secured by any asset of the Borrower or any Restricted Subsidiary, (b) is expressly subordinated to the prior payment in full of the Loans on terms consistent with those for senior subordinated high yield debt securities issued by U.S. companies sponsored by either of the Sponsors (as determined in good faith by the Borrower, which determination shall be conclusive), (c) has a final maturity date that is not earlier than, and provides for no scheduled payments of principal prior to, the date that is 91 days after the Initial Term Loan Maturity Date (other than through conversion or exchange of any such Indebtedness for Capital Stock (other than Disqualified Stock) of the Borrower, Capital Stock of any Parent or any other Junior Capital), (d) has no mandatory redemption or prepayment obligations other than (x) obligations that are subject to the prior payment in full in cash of the Loans or (y) pursuant to an escrow or similar arrangement with respect to the proceeds of such Junior Capital and (e) does not require the payment of cash interest until the date that is 91 days following the Initial Term Loan Maturity Date.

  • Working Capital Lender means any Lender that has a Working Capital Commitment.

  • Savings and Loan Holding Company means a company registered as such with the Office of Thrift Supervision pursuant to 12 U.S.C. §1467a(b) and the regulations of the Office of Thrift Supervision promulgated thereunder.

  • Class A Invested Amount means, on any date of determination, an amount equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class A Certificateholders on or prior to such date, minus (c) the excess, if any, of (i) the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over (ii) Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) prior to such date.

  • Class A Percentage As to any Distribution Date occurring on or prior to the Cross-Over Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the Class A Non-PO Principal Balance (determined as of the Determination Date preceding such Distribution Date) by the Pool Balance (Non-PO Portion). As to any Distribution Date occurring subsequent to the Cross-Over Date, 100% or such lesser percentage which will cause the Class A Non-PO Principal Balance to decline to zero following the distribution made on such Distribution Date.