Periodic Distributions Cap definition

Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2014 will be £15 per Core Capital Deferred Share, and (subject as stated below) in respect of each subsequent Financial Year will be adjusted for inflation by reference to the United Kingdom Consumer Price Index (overall index, 2005=100) ("CPI") published by the Office for National Statistics (or any successor to, or replacement of, that index). Such adjustment will be made by applying the CPI annual inflation percentage published by the Office for National Statistics in its statistical bulletin for the last full calendar month of the Financial Year in respect of which the Periodic Distributions are payable (being the percentage increase or decrease over the twelve months to and including that month) to the prevailing Periodic Distributions Cap. If the CPI ceases to be published and no direct successor or replacement index is published, the Board shall be entitled to determine an appropriate replacement index for determining inflation-based adjustments to the Periodic Distributions Cap, and shall have sole discretion to determine any modifications to the method of determining inflation-based adjustments to the Periodic Distributions Cap during the transition from CPI to the replacement index. The Society shall in each year determine the adjustment to the Periodic Distributions Cap promptly following publication of the relevant CPI (or successor or replacement index) data by the Office for National Statistics (or such successor or other organisation as may be responsible for publishing official data with respect to the relevant index) and will (following the Society first issuing Core Capital Deferred Shares and while the Society has Core Capital Deferred Shares in issue) notify Members of the adjusted Periodic Distributions Cap not later than by the date of the first Annual General Meeting following publication of the relevant data. Such notice will be given on the Society's website or as otherwise decided by the Board if notice on the website is not possible. In the event that adjustment of the Periodic Distributions Cap in the manner described above would prejudice the regulatory capital treatment of the Core Capital Deferred Share, the Society will disapply those adjustment provisions and ...
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Periodic Distributions Cap means £15 per Share, being the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year;
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Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2014 will be £15 per Share, and (subject as stated below) in respect of each subsequent Financial Year will be adjusted for inflation by reference to the United Kingdom Consumer Price Index (overall index, 2005=100) (“CPI”) published by the Office for National Statistics (or any successor to, or replacement of, that index). Such adjustment will be made by applying the CPI annual inflation percentage
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Examples of Periodic Distributions Cap in a sentence

  • The total Distribution paid on each CCDS in respect of any given financial year of the Society (being the aggregate of the Interim Distribution (if any) paid during such financial year and the Final Distribution (if any) paid in respect of such financial year) shall not exceed the prevailing Periodic Distributions Cap determined in accordance with the Rules (the Cap).

  • Any Core Capital Deferred Share must be issued on terms that limit the amount of the Periodic Distributions that may be paid on any such Share in respect of any Financial Year to not more than the applicable Periodic Distributions Cap, in order to protect the reserves of the Society.


More Definitions of Periodic Distributions Cap

Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2014 will be £15.00 per Core Capital Deferred Share, and (subject
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Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect
Sample 1
Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect
Sample 1

Related to Periodic Distributions Cap

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Subsequent Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within thirty (30) days of the end of a calendar quarter, then the first Subsequent Distribution Date will be the last Business Day of the month following the end of the first (1st) calendar quarter after the calendar quarter in which the Effective Date falls.

  • Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

  • Distribution Margin means the DPO’s share of revenue for the Distribution of Subscribed Channels to Subscribers and it does not include Carriage Fee. It will be calculated as twenty percent (20%) of the MRP of the Subscribed Channel(s), multiplied by the Monthly Average Subscriber Level.