Permitted Withdrawals means amounts withdrawn to fund our working capital requirements, subject to an annual limit of $1,000,000, and/or to pay our taxes;
Permitted Withdrawals. Any withdrawal by Seller of amounts on deposit in the Hedge Account, but only to the extent (i) that no Default or Event of Default has occurred and is continuing, (ii) such amounts relate to an Interest Rate Protection Agreement entered into with respect to an Asset that is a Purchased Asset and (iii) such amounts (a) relate to regularly scheduled payments due to Seller pursuant to a Hedge Counterparty’s obligations under the related Interest Rate Protection Agreement, (b) relate to regularly scheduled payments due to a Hedge Counterparty pursuant to Seller’s obligations under an Interest Rate Protection Agreement, or (c) are required to be delivered to a Hedge Counterparty in satisfaction of Seller’s collateral posting requirements under an Interest Rate Protection Agreement.
Permitted Withdrawals means interest earned on the funds held in the Trust Account that may be released to the Company to fund working capital and regulatory compliance requirements and other costs related thereto.
Examples of Permitted Withdrawals in a sentence
Permitted Withdrawals and Transfers from the Distribution Account.
Permitted Withdrawals from the Collection Account and Certificate Account....................................
Section 3.10 Permitted Withdrawals from the Collection Account and Distribution Account........................................
Section 5.07 Permitted Withdrawals and Transfers from the Master Servicer Collection Account.
The Corporation’s initial Business Combination must occur with one or more operating businesses that together have a fair market value of at least 80% of the net assets held in the Trust Account (net of amounts disbursed as Permitted Withdrawals and excluding the amount of any deferred underwriting discount) at the time of the agreement to enter into the initial Business Combination.
More Definitions of Permitted Withdrawals
Permitted Withdrawals means amounts that may be withdrawn from the Trust Account to fund South Mountain’s regulatory compliance costs and to pay its taxes.
Permitted Withdrawals means amounts withdrawn from the Trust Account (i) to fund working capital requirements, subject to an annual limit of five per cent (5%) of the interest earned on the funds held in the Trust Account, and/or (ii) to pay franchise and income tax obligations.
Permitted Withdrawals means amounts withdrawn from the Trust Account (a) to fund our working capital requirements, which amount shall equal 10% of the interest earned on the Trust Account, and/or (b) to pay our taxes, provided that all permitted withdrawals can only be made from interest and not from the principal held in the Trust Account; (v) “Private Placement Units” shall mean the 400,000 units (regardless if the over-allotment option is exercised at all, in part or in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $4,000,000, or $10.00 per unit, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Private Placement Warrants” shall mean the 133,333 warrants comprising part of the Private Placement Units; (vii) “Working Capital Units” shall mean the units that may be issued in connection with the conversion of any Working Capital Loans; (viii) “Working Capital Warrants” shall mean the warrants comprising part of the Working Capital Units; (ix) “Public Shareholders” shall mean the holders of securities issued in the Public Offering; (x) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Units shall be deposited; and (xi) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).
Permitted Withdrawals means amounts withdrawn from the Trust Account to (i) fund the Company’s working capital requirements following this offering related to our search for a Business Combination, to fund repayment of amounts owed under a promissory note between the Company and the Sponsor, to pay underwriting fees and expenses, subject to an aggregate annual limit of 0.5% of the amount raised in the IPO ($1,250,000, or up to $1,437,500 if the underwriter’s over-allotment option is exercised in full), and (ii) to pay the Company’s taxes.
Permitted Withdrawals means amounts withdrawn to fund our working capital requirements, subject to an annual limit of $1,000,000, and/or to pay our taxes and notwithstanding the annual limitation, such withdrawals can only be made from interest and not from the principal held in the trust account;
Permitted Withdrawals means, other than in connection with litigation, arbitration or regulatory proceedings, authorized withdrawals, if any, by County Bank of Rehoboth Beach, Delaware ("County Bank") from the Indemnity Accounts only, pursuant to the provisions of section 7.(a) of those certain Nonexclusive Master Sale, Participation, Servicing and Indemnification Agreements constituting a part of the Pay-Day Advance Loan Documents, for administrative, overhead, and operating expenses and legal expenses related to the content, development and structure of County Bank's pay-day advance loan program including, by way of example, expansion of the Borrower's or Subsidiaries' pay-day advance loan business into new markets or operational changes. Such administrative, overhead and operating expenses include, by way of example, audit fees and expenses, delivery fees, wire fees, inspection fees, background checks, and insurance.
Permitted Withdrawals. Any withdrawal by Seller of amounts on deposit in the Hedge Account, but only to the extent (i) that no Default or Event of Default has occurred and is continuing, (ii) such amounts relate to an Interest Rate Protection Agreement entered into with respect to an Asset that is a Purchased Asset and (iii) such amounts (a) relate to regularly scheduled payments due to Seller pursuant to a Hedge Counterparty’s obligations under the related Interest Rate Protection Agreement, (b) relate to regularly scheduled payments due to a Hedge Counterparty pursuant to Seller’s obligations under an Interest Rate Protection Agreement, or (c) are required to be delivered to a Hedge Counterparty in satisfaction of Seller’s collateral posting requirements under an Interest Rate Protection Agreement. “Person”: An individual, corporation, limited liability company, business trust, partnership, trust, unincorporated organization, joint stock company, sole proprietorship, joint venture, Governmental Authority or any other form of entity. “Plan”: An employee benefit or other plan established or maintained by Seller or any ERISA Affiliate or to which Seller or any ERISA Affiliate makes, is obligated to make or has been required to make contributions and that is covered by Title IV of ERISA or Section 302 of ERISA or Section 412 of the Code, other than a Multiemployer Plan. “Plan Asset Regulations”: The regulation of the United States Department of Labor at 29 C.F.R. § 2510.3-101 (as modified by Section 3(42) of ERISA). “Pledge Agreement”: The Pledge Agreement, dated as of the date hereof, between Buyer and Pledgor, as amended, modified, waived, supplemented, extended, restated or replaced from time to time. “Pledged Collateral”: Defined in the Pledge Agreement. “Pledgor”: BRIGHTSPIRE CREDIT 8 PLEDGOR, LLC (f/k/a CLNC Credit 8 Pledgor, LLC), a Delaware limited liability company. “Power of Attorney”: Defined in Section 18.18.