Pro Rata Payment definition
Pro Rata Payment means, as to any amount, an aggregate amount of cash and Purchase Shares (where each Purchase Share is valued at the Per Share Value of the Purchase Shares) equal to such amount and allocated as between cash and Purchase Shares such that 35.14% of such amount shall be in the form of Purchase Shares and 64.86% of such amount shall be in cash; provided, however, that (i) the cash portion of such amount shall be increased by (A) any Interim Dividend paid in cash on the Purchase Shares included in such Pro Rata Payment and (B) in respect of the portion of any cash payment by Buyer pursuant to (x) Section 2.6(f), interest on such portion (without giving effect to the foregoing clause (A)) from the date of the Closing, as applicable, to the date of payment at LIBOR calculated on a 365-day basis and (y) Section 7.2, interest on such portion (without giving effect to the foregoing clause (A)) at LIBOR calculated on a 365-day basis from the date notice of the Losses for which indemnification is sought was delivered until the date of payment of indemnification by the Buyer Indemnifying Party and (ii) the stock portion of such amount shall be increased by Interim Dividends paid in stock on the Purchase Shares included in such Pro Rata Payment.
Pro Rata Payment means, in respect of the Senior Debt Obligations, a payment to a Senior Creditor on any date on which a payment of Senior Debt Obligations is made in which:
Pro Rata Payment a payment to a Senior Facility Lender on any date on which a payment of Senior Loan Obligation is paid in which (i) interest paid to such Senior Facility Lender on such date bears the same proportion to the total interest payments made or to be made to all Senior Facility Lenders on such date as (x) the total Senior Loan Obligations for interest due to such Senior Facility Lender on such date bears to (y) the total Senior Loan Obligations for interest due to all Senior Facility Lenders on such date, (ii) principal paid or prepaid to such Senior Facility Lender on such date bears the same proportion to the total principal payments or prepayments made to all Senior Facility Lenders on such date as (x) the total Senior Loan Obligations for principal due to such Senior Facility Lender on such Payment Date bears to (y) the total Senior Loan Obligations for principal due to all Senior Facility Lenders on such date, in each case not including any principal payable by way of an acceleration of principal payable unless each Senior Loan has been accelerated (unless a Borrower Enforcement Direction has been given, in which case all Senior Loans will be deemed for purposes of this definition to have been accelerated) and (iii) fees, commission, indemnities and all amounts other than interest and principal paid to such Senior Facility Lender on such date bears the same proportion to the total fees, commissions, indemnities and such other amounts paid to all Senior Facility Lenders on such date as (x) the total Senior Loan Obligations for fees, commissions, indemnities and such other amounts due to such Senior Lender on such date bears to (y) the total Senior Loan Obligations for fees, commission, indemnities and such other amounts due to all Senior Facility Lenders on such date. If payments cannot be made exactly in such proportion due to minimum required payment amounts and required integral multiples of payments under Senior Loan Documents, payments made in amounts as near as such exactly proportionate amounts as possible shall be deemed to be Pro Rata Payments.
Examples of Pro Rata Payment in a sentence
Each repayment of principal and interest shall be allocated among Lenders in accordance with their respective Pro Rata Payment Percentage.
Access to the Club Facilities shall be shared only by persons holding appropriate tickets for admission to the Club Seats, Club Facilities and the private suites.
The Borrower shall not make, and no holder of Initially Issued Notes shall accept, any Initially Issued Notes Pro Rata Payment except as shall be shared ratably between the holders of the Initially Issued Notes so as to maintain as near as possible the amount of the indebtedness owing under the Initially Issued Notes pro rata according to the holders’ respective proportionate interest in the amount of Notes Obligations owed as of the date immediately prior to such payment or payments.
If the Subsequent Adjustment Amount is a positive number, then the Purchase Price allocated to such Specified Business shall be increased by the Subsequent Adjustment Amount and Buyer shall promptly (and in any event within five Business Days) after the final determination thereof pay to the Escrow Agent, for deposit into the Escrow Account, a Pro Rata Payment equal to the Subsequent Adjustment Amount.
The Administrative Agent will promptly notify each Bank of its receipt of any such prepayment, and of such Bank’s Pro Rata Payment Share of such prepayment (which share may be affected by the allocation rules set forth in Section 2.11 with respect to Defaulting Banks).
More Definitions of Pro Rata Payment
Pro Rata Payment means a payment to a Secured Party (other than the Collateral Agent, the Administrative Agent, the Tranche A Trustee and the Tranche B Trustee in their respective individual and trust capacities) on any date on which a payment of Secured Obligations is made in which (a) interest paid to such Secured Party on such date bears the same proportion to the total interest payments made to all Secured Parties on such date as (i) the total Secured Obligations for interest due to such Secured Party on such date bears to (ii) the total Secured Obligations for interest due to such Secured Parties on such date, (b) principal paid or prepaid to such Secured Party on such date bears the same proportion to the total principal payments or prepayments made to all Secured Parties on such date as (i) the total Secured Obligations for principal due to such Secured Party on such date bears to (ii) the total Secured Obligations for principal due to all Secured Parties on such date, in each case not including any principal payable by way of an acceleration of principal payable unless the Tranche A Obligations or the Tranche B Obligations, as the case may be, in respect of which principal is payable by way of acceleration, have been accelerated in whole or in part, as the case may be, and (c) fees, commissions, indemnities and all amounts other than interest and principal paid to such Secured Party on such date bears the same proportion to the total fees, commissions, indemnities and such other amounts paid to all Secured Parties on such date as (i) the total Secured Obligations for fees, commissions, indemnities and such other amounts due to such Secured Party on such date bears to (ii) the total Secured Obligations for fees, commissions, indemnities and such other amounts due to all Secured Parties on such date.
Pro Rata Payment means the portion, if any, of the Tiered Reimbursement Settlement Fund to be paid to each eligible Settlement Class Member, as calculated below.
Pro Rata Payment means (a) if the payment to such Subscriber is made in cash, the amount of cash that such Subscriber would have received had such Subscriber invested an amount equal to its Purchase Price in such Subsequent Financing (the “Payment Amount”) or (b) if the payment to such Subscriber is made in restricted shares of the Company’s common stock, then an amount determined by dividing the Payment Amount by the Fair Market Value, provided that if there is any decrease in the Cash Payment to the Subsequent Financing investors then the Pro Rata Payment shall be decreased in the same proportion; and
Pro Rata Payment means a payment to a Senior Lender on any date on which a payment of Senior Loan Obligations is made in which (a) interest paid to such Senior Lender on such date bears the same proportion to the total interest payments made to all Senior Lenders on such date as (i) the total obligations for interest due to such Senior Lender on such date bears to (ii) the total obligations for interest due to all Senior Lenders on such date, (b) principal paid or prepaid to such Senior Lender on such date bears the same proportion to the total principal payments or prepayments made to all Senior Lenders on such date as (i) the total obligations for principal due to such Senior Lender on such date bears to (ii) the total obligations for principal due to all Senior Lenders on such date (or, in the case of voluntary prepayments, as the total principal outstanding to such Senior Lender bears to the total principal outstanding to all Senior Lenders) and (c) fees, commissions, indemnities and all amounts other than interest and principal paid to such Senior Lender on such date bears the same proportion to the total fees, commissions, indemnities and such other amounts paid to all Senior Lenders on such date as (i) the total obligations for fees, commissions, indemnities and such other amounts due to such Senior Lender on such date bears to (ii) the total obligations for fees, commissions, indemnities and such other amounts due to all Senior Lenders on such date. If payments cannot be made exactly in such proportion due to minimum required payment amounts and required integral multiples of payments under Senior Loan Agreements, payments made in amounts as near as such exactly proportionate amounts as possible shall be deemed to be Pro Rata Payments so long as such payments are not more than 10% more or less than such exact proportionate amount.
Pro Rata Payment means a payment to a Senior Lender or holder of Oil Payment Reimbursement Obligations, as the case may be, on any date on which a payment on or in respect of Senior Debt Obligations or Oil Payment Reimbursement Obligations, as the case may be, is made in which:
Pro Rata Payment has the meaning given to such term in the Intercreditor Agreement.
Pro Rata Payment has the meaning specified in Section 1305.