Relevant Distributions definition

Relevant Distributions means, in relation to any interest payment date, the sum of (i) all distributions or interest payments made or declared by us since the end of the last financial year and prior to such interest payment date on or in respect of any Parity Securities, the Securities and any Junior Securities and (ii) all distributions or interest payments payable by us (and not cancelled or deemed to have been cancelled) on such interest payment date on or in respect of any Parity Securities, the Securities and any Junior Securities, in the case of each of (i) and (ii), excluding any payments already accounted for in determining the Distributable Items.

Relevant Distributions means the sum of:

Relevant Distributions means the sum of (i) any payments of distributions on the Notes made or scheduled to be made by the Issuer in the relevant financial year of the Issuer; and (ii) any payments of interest, dividends or distributions made or scheduled to be made by the Issuer on any other Tier 1 Instruments in the relevant financial year of the Issuer, and (iii) the amount of any Write-up (as defined below) in the relevant financial year, if any.

Examples of Relevant Distributions in a sentence

• The Company unconditionally and irrevocably waives and releases each of the Recipient Shareholders from any and all liability that any such Recipient Shareholder has or may have to the Company and all claims and demands the Company has or may have against each of them in connection with receipt by them of all or part of the Relevant Distributions.

• This is because the aggregate amount of the Relevant Distributions is equal to and offset by the release of each Recipient Shareholder from the liability to repay the amount already paid, and the Company will not be required to make any further payments to shareholders in respect of the Relevant Distributions.

• The entry by the Company into the Directors’ Deed of Release will not have any effect on the Company’s financial position because, as with the position in relation to the Relevant Distributions and potential claims against past and present shareholders, the Company has not recorded or disclosed its right potentially to make claims against past and present directors in respect of the Relevant Distributions as an asset or contingent asset of the Company.

• These issues only affected the Relevant Distributions and did not affect any other distributions made by the Company in the relevant financial years.

• The Company has been advised that, as a consequence of the Relevant Distributions having been made otherwise than in accordance with the Act, it may have claims against past and present shareholders who were recipients of the Relevant Distributions and against persons who were directors of the Company at the time of payment of the Relevant Distributions.

More Definitions of Relevant Distributions

Relevant Distributions means distributions of the Issuer or the Group, as applicable, of the kind the payment of which from the Distributable Items of the Issuer or the Group, respectively, is subject to the Maximum Distributable Amount not being exceeded by such payment.

Relevant Distributions means the sum of: (i) any payments of distributions on the Notes that have been made, are simultaneously made or are scheduled to be made by the Issuer in the then current financial year of the Issuer; and (ii) any payments of interest, dividends or distributions made or scheduled to be made by the Issuer on all other Tier 1 Instruments in the then current financial year of the Issuer; (iii) the amount of any Write-up (as defined below) made in the then current financial year, if any; and (iv) any amount, payment or distribution as may be relevant under any restrictions operating as maximum distributable amount in accordance with any legal or regulatory requirements applicable to the Issuer at the time.

Relevant Distributions means all Distributions that have the effect of reducing the Aggregate Purchase Price under Section 2.5(a)(i), or if made before January 1, 2004, would have had the effect of reducing the Aggregate Purchase Price under Section 2.5(a)(i) had they been made on or after such date.

Relevant Distributions means, in relation to any date, the sum of (i) all distributions or interest payments made or declared by the Company since the end of the last financial year and prior to such date on or in respect of (x) the third dollar preference shares and (y) any Parity Securities and any Junior Securities and (ii) all distributions or interest payments payable by the Company (and not cancelled or deemed to be cancelled) on such date on or in respect of (x) the third dollar preference shares and (y) any Parity Securities and any Junior Securities, in each case, excluding any such payments already accounted for in determining the Distributable Items;

Relevant Distributions has the meaning given to it in Subclause 25.18(b)(vii) (Distributions).

Relevant Distributions means the interim and final dividends paid by the Company in each of the Company’s financial years ending 31 December 2013, 31 December 2014 and 31 December 2015, proportions of which were unlawful by reason of irregularities under the 2006 Act, as described in Part III of this document

Relevant Distributions means, in relation to any date, the sum of (i) all distributions or interest payments made or declared by the Company since the end of the last financial year and prior to such date on or in respect of (x) the third dollar preference shares and