Redemption Funds definition

Redemption Funds as defined in Section 5.1(r).

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Redemption Funds means an amount equal to the aggregate Consideration to be paid to the Minority Shareholders in accordance with the Redemption;

Redemption Funds means (a) during the period from the Closing Date until any and all amounts due under the Buyer Promissory Note have been fully paid and the Buyer Promissory Note has been extinguished, the amount that equals (i) 50% of the earnings before interest, taxes, depreciation and amortization (“EBITDA”) of the “Business” (as defined in the Asset Purchase Agreement), calculated in accordance with generally accepted accounting principles, for the last four quarters preceding the Redemption Funds calculation, minus (ii) the sum of all dividend payments paid by the Corporation to the Holder for the Series A Preferred Stock during the last 12 months preceding the Redemption Funds calculation, minus (iii) $1,200,000; and (b) during the period from the date the Buyer Promissory Note has been extinguished until the Series A Preferred Stock has been fully redeemed, the amount that equals (x) 100% of the EBITDA of the “Business” (as defined in the Asset Purchase Agreement), calculated in accordance with generally accepted accounting principles, for the last four quarters preceding the Redemption Funds calculation, minus (y) the sum of all dividend payments paid by the Corporation to the Holder for the Series A Preferred Stock during the last 12 months preceding the Redemption Funds calculation, minus (z) $1,200,000; provided, however, since the Redemption Funds calculation is intended to cover a full twelve-month period, until the Redemption Funds calculation period includes a full twelve-month period after the Closing Date, the calculation of the Redemption Funds shall be adjusted for each of (a)(i) and (ii), and (b)(x) and (y) above, by dividing the amount so calculated in such subsection by the number of days between the Closing Date and the end of such calculation period, and then multiplying such amount by 365.

Examples of Redemption Funds in a sentence

Prior to an Enforcement Notice, the Class S Notes will on each Notes Payment Date be redeemed in accordance with Condition 6(c) (Redemption of the Class S Notes) with the Available Class S Redemption Funds, if any, through the Revenue Priority of Payments.
Unless previously redeemed in full and provided that no Enforcement Notice has been served in accordance with Condition 10, on each Notes Payment Date the Issuer will be obliged to apply the Available Class S Redemption Funds to (partially) redeem on a pro rata basis, the Class S Notes, until fully redeemed, subject to Condition 9(b) (Principal).
Provided that no Enforcement Notice has been served in accordance with Condition 10 (Notices), on each Notes Payment Date the Issuer will, in accordance with Condition 6(c) (Redemption of the Class S Notes), be obliged to apply the Available Class S Redemption Funds to (partially) redeem the Class S Notes, until fully redeemed, subject to Condition 9(b) (Principal).
Borrower shall deposit and maintain with the Trustee the Redemption Funds and shall cause the Trustee to redeem 100% of the outstanding Senior Subordinated Notes, pursuant to the terms of the Senior Subordinated Note Indentures.
If the escrow agent has not received the Redemption Funds within three (3) business days from the Redemption Date, the Subscriber shall again have the right to convert the Preferred Stock, and thereafter the Company shall only have the right to redeem the Preferred Stock by sending a Redemption Notice to the Subscriber and simultaneously wire transferring the Redemption Price.
Upon transfer by the Trustee of the Special Mandatory Redemption Funds to the Paying Agent as set forth in Section 4(c), the security interest evidenced by this Agreement in the Collateral in the Collateral Subaccount will terminate and be of no further force and effect.
The Warrant Agent shall maintain the Redemption Funds in the Deposit Account until such time as it is required to disburse them in accordance with Section 5.3 hereof.
This escrow shall terminate (i) upon the release of all Redemption Funds and Conversion Shares deposited in escrow with the Escrow Agent, (ii) at any time upon the agreement in writing of the Holder and Company, or (iii) on April 26, 2002 in the event Redemption Funds and Conversion Shares (if applicable) have not been deposited by the Company with the Escrow Agent.
This fee shall be paid by the Company together with or prior to the Company's deposit with the Escrow Agent of the Redemption Funds for the January 25, 2002, Date of Redemption.
The Redemption Funds will be distributed pro-rata among the holders of the Notes within thirty (30) business days after the end of each semi-annual period.

More Definitions of Redemption Funds

Redemption Funds has the meaning set forth in Section 10.9(i).

Redemption Funds has the meaning ascribed thereto in subsection 1(a) of the Escrow Agreement;

Redemption Funds means any monies that would be required to fund any redemptions pursuant to all Elections outstanding with respect to a particular Redemption Period; and

Redemption Funds has the meaning set forth in Section 7.2(d).