Shared Payment definition

Shared Payment has the meaning set forth in Section 3.2(a) of this Agreement.

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Shared Payment has the meaning set forth in Section 2.3(a).

Shared Payment means any payment of any kind received by any Senior Lender on or after the occurrence and during the continuance of an Enforcement on account of any of the Senior Indebtedness (including, without limitation, any proceeds of Collateral and any proceeds resulting from a set-off of a deposit account (whether or not with respect to any Senior Indebtedness) and any payment or distribution made in the context of any bankruptcy, insolvency or reorganization proceeding).

Examples of Shared Payment in a sentence

• Each Receiving Party shall remit any Shared Payment received by it to the Pari Passu Collateral Agent for distribution in accordance with Section 2.5.

• If an Event of Default exists, any fees or expenses reasonably incurred by a Payee to collect a Shared Payment shall be shared ratably between the Payees in proportion to the respective amounts due to them under the respective Notes.

• The Lenders and the Borrowers agree that if a Lender (a “Receiving Party”) receives a payment (such payment, a “Shared Payment”) following the receipt of an Enforcement Notice regarding the occurrence of a Trigger Event, such Shared Payment shall be paid over to the Agent to be distributed as provided below.

• Any Shared Payment received by a Payee to which it is not due shall be segregated and held in trust and promptly paid over to the other Payee in the form received, with any necessary endorsements.

• Upon receipt of any Shared Payment, the Distribution Agent shall calculate the amount of such Shared Payment distributable to each Lender pursuant to Section 3.2 hereof as of the date the Receiving Lender received such Shared Payment and remit such amount to each Lender, accompanied by computations in reasonable detail showing the manner of calculation of the amounts distributable to each Lender pursuant to Section 3.2 hereof.

• Upon the appointment of the Distribution Agent, each Receiving Lender shall remit any Shared Payment received by it to the Distribution Agent for distribution in accordance with Section 3.2 hereof.

• In addition, the Pari Passu Collateral Agent shall give a Notice of Shared Payment to each Authorized Representative immediately upon having actual knowledge of the receipt of a Shared Payment by it or any Pari Passu Secured Party.

• AE shall maintain appropriate books of account and records with respect to the Shared Payment in accordance with generally accepted accounting principles and shall make complete and accurate entries concerning all transactions relevant to this Agreement.

• Without limiting the foregoing and for the avoidance of doubt, a Shared Payment includes any payment or distribution of any kind or character, whether in cash, property, stock, debt securities or obligations (and the proceeds thereof), which may be payable or deliverable in respect of the Collateral and/or as distributions in an Insolvency or Liquidation Proceeding.

• Within thirty (30) days after the last day of each quarter subsequent to the Closing Date, AE shall submit to CMGO written statement (the “Quarterly Reporting Statement”) detailing with respect to the preceding quarterly period the calculation of and the amount of the Shared Payment.

More Definitions of Shared Payment

Shared Payment has the meaning set forth in Section 4.4.

Shared Payment means any and all Common Collateral or Credit Agreement Excluded Collateral or proceeds thereof received by any Pari Passu Secured Party pursuant to any Pari Passu Documents or by the exercise of any rights available to it under applicable law or in any proceeding (including any insolvency or liquidation proceeding) or in connection with any disposition of, collection on, or in connection with any insurance policy claim or condemnation award (or deed in lieu of condemnation) with respect to, such Common Collateral or such Credit Agreement Excluded Collateral.

Shared Payment has the meaning set forth in Section 5.2 of this Collateral Agency and Intercreditor Agreement.

Shared Payment has the meaning set forth in Section 2.2(a) of this Agreement. Subsidiary — means, as to any Person, any corporation, association or other business entity in which such Person or one or more of its Subsidiaries or such Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions) of such entity, and any partnership or joint venture if more than a fifty percent (50%) interest in the profits or capital thereof is owned by such Person or one or more of its Subsidiaries or such Person and one or more if its Subsidiaries (unless such partnership can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of the Parent or the Company. Trigger Event — means (i) any Event of Default (as such term is defined in any one of the Company Loan Documents or the Guaranties) and/or (ii) the making of any demand by any Lender on any Guarantor in respect of the Obligations evidenced by its respective Guaranty. Yield-Maintenance Amount — with respect to

Shared Payment has the meaning set forth in Section 4(a) of this Agreement.

Shared Payment means a specific dollar amount or percentage of each payment otherwise to be paid to the Participant from a Plan that is assigned to the Alternate Payee by a QDRO. A Shared Payment is payable to the Alternate Payee at the same time and in the same form as payments are made to the Participant. Shared Payments are required if an Order is entered when the Participant is in pay status.