Wrongful Distribution definition

Wrongful Distribution means, in the event that Brookdale Rent Payments are due and owing and have not been made as required hereunder, the distribution of all or any portion of Total Revenues by BLC Holdings or any Brookdale Lessee to the Parent of BLC Holdings or any Affiliate (other than BLC Holdings) thereof that results in inadequate monies being available to make the Brookdale Rent Payments to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to BLC Holdings' Parent or any Related Party thereto (other than to BLC Holdings, PSLT-BLC Holdings or PSLT-BLC Holdings' Affiliates) should be made unless all Brookdale Rent Payments due hereunder are current).
Sample 1Sample 2
Wrongful Distribution means, in the event that Alterra Rent Payments are due and owing and have not been made as required hereunder, the distribution of all or any portion of Total Revenues by ALS Holdings or any Alterra Lessee to the Parent of ALS Holdings or any Affiliate (other than ALS Holdings) thereof that results in inadequate monies being available to make the Alterra Rent Payments, to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to ALS Holdings' Parent or any Related Party thereto (other than to ALS Holdings, PSLT-ALS Holdings or PSLT-ALS Holdings' Affiliates) should be made unless all Alterra Rent Payments due hereunder are current).
Sample 1Sample 2
Wrongful Distribution means, in the event that Brookdale Rent Payments are due and owing and have not been made as required hereunder, the distribution of all or any portion of Total Revenues by Brookdale or any Brookdale Lessee to the Parent of Brookdale or any Affiliate (other than Brookdale) thereof that results in inadequate monies being available to make the Brookdale Rent Payments required hereunder, to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to Brookdale's Parent or any Related Party thereto (other than to Brookdale, Capstead or Capstead's Affiliates) should be made unless all Brookdale Rent Payments due hereunder are current).
Sample 1

Examples of Wrongful Distribution in a sentence

  • SeniorTrust’s Claims include: • Breach of Fiduciary Duty/Fraud • Wrongful Distribution • Conflict-of-Interest Transaction • Conversion • Unjust Enrichment • Punitive Damages NHI’s Counterclaims: • NHI’s counterclaim seeks to have the proceeds from any sale applied to its secured debt NHC’s Counterclaim: • Breach of Contract Additionally, Missouri Healthcare Advisors, LLC and Kansas Healthcare Advisors, LLC intervened in the case.


More Definitions of Wrongful Distribution

Wrongful Distribution means, in the event that SCT Rent Payments are due and owing and have not been made, as required hereunder or under the Property Leases, the distribution of all or any portion of Operating Revenues by SCT Holdings or any SCT Lessee to SC OpCo or any Affiliate (other than SCT Holdings) thereof that results in inadequate monies being available to make the SCT Rent Payments to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to SC OpCo or any Affiliate thereof (other than to SCT Holdings, Ventas Holdings or Ventas Holdings’ Affiliates) should be made unless all SCT Rent Payments due hereunder and under the Property Leases are current).
Sample 1

Related to Wrongful Distribution

  • Capital Distribution means, with respect to any Person, a payment made, liability incurred or other consideration given for the purchase, acquisition, repurchase, redemption or retirement of any Equity Interest of such Person or as a dividend, return of capital or other distribution in respect of any of such Person’s Equity Interests.

  • Final Distribution means any distribution made in redemption of all or a portion of the Up-MACRO Holding Shares pursuant to Section 5.2(a) or 5.2(c) on the Final Scheduled Termination Date, an Early Termination Date or a Redemption Date.

  • Special Distribution has the meaning set forth in Section 11.4.

  • Income Distribution shall be calculated as set forth in subparagraph (A), below, unless the Prospectus provides for the averaging of income distributions, in which case, "Income Distribution" shall be shall be calculated as set forth in subparagraph (B), below. Accordingly, the Unitholder's "Income Distribution" shall be equal to:

  • Cash Distribution means the distribution by the Company to all holders of its Common Stock of cash, other than any cash that is distributed upon a merger or consolidation to which Section 2(h) applies or as part of a distribution referred to in paragraph (4) of Section 2(b).

  • Plan Distribution means a payment or distribution to Holders of Allowed Claims, Allowed Interests, or other eligible Entities under and in accordance with the Plan.

  • Clause A Distribution shall have the meaning specified in Section 14.04(c).

  • Initial Distribution means the distribution made to holders of Allowed Class C-4 Claims on the Distribution Date.

  • Final Distributions means, with respect to the Certificates of any Trust on any Distribution Date, the sum of (x) the aggregate amount of all accrued and unpaid interest on such Certificates (excluding interest, if any, payable with respect to the Deposits relating to such Trust) and (y) the Pool Balance of such Certificates as of the immediately preceding Distribution Date (less the amount of the Deposits for such Class of Certificates as of such preceding Distribution Date other than any portion of such Deposits thereafter used to acquire Equipment Notes pursuant to the Note Purchase Agreement). For purposes of calculating Final Distributions with respect to the Certificates of any Trust, any Premium paid on the Equipment Notes held in such Trust which has not been distributed to the Certificateholders of such Trust (other than such Premium or a portion thereof applied to the payment of interest on the Certificates of such Trust or the reduction of the Pool Balance of such Trust) shall be added to the amount of such Final Distributions.

  • Final Distribution Date The Distribution Date on which the final distribution in respect of the Certificates is made pursuant to Section 9.01.

  • Regular Distribution Date Replacement Liquidity Facility", "Responsible Officer", "Scheduled Payment", "Special Payment", "S&P", "Stated Interest Rate", "Subordination Agent", "Taxes", "Threshold Rating", "Trust Agreement", "Trustee", "Underwriters", "Underwriting Agreement", "United States" and "Written Notice".

  • Special Distribution Date means, with respect to any Special Payment, the Business Day chosen by the Subordination Agent pursuant to Section 2.04(a) for the distribution of such Special Payment in accordance with this Agreement.

  • Extraordinary Distribution means any dividend or other distribution (effected while any of the shares of ESOP Preferred Stock are outstanding) (a) of cash, where the aggregate amount of such cash dividend and distribution together with the amount of all cash dividends and distributions made during the preceding period of 12 months, when combined with the aggregate amount of all Pro Rata Repurchases (for this purpose, including only that portion of the aggregate purchase price of such Pro Rata Repurchase which is in excess of the Fair Market Value of the Common Stock repurchased as determined on the applicable expiration date (including all extensions thereof) of any tender offer or exchange offer which is a Pro Rata Repurchase, or the date of purchase with respect to any other Pro Rata Repurchase which is not a tender offer or exchange offer made during such period), exceeds Twelve and One- Half percent (12.5%) of the aggregate Fair Market Value of all shares of Common Stock outstanding on the record date for determining the shareholders entitled to receive such Extraordinary Distribution and (b) any shares of capital stock of the Corporation (other than shares of Common Stock), other securities of the Corporation (other than securities of the type referred to in paragraph I(2)), evidence of indebtedness of the Corporation or any other person or any other property (including shares of any subsidiary of the Corporation), or any combination thereof. The Fair Market Value of an Extraordinary Distribution for purposes of paragraph I(4) shall be the sum of the Fair Market Value of such Extraordinary Distribution plus the amount of any cash dividends which are not Extraordinary Distributions made during such twelve- month period and not previously included in the calculation of an adjustment pursuant to paragraph I(4).

  • Distribution Time means the time at which the Distribution is effective on the Distribution Date.

  • Clause B Distribution shall have the meaning specified in Section 14.04(c).

  • Hardship Distribution means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of his or her dependent (as defined in Section 152(a) of the Code), loss of a Participant’s property due to casualty, or other similar or extraordinary and unforseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that would constitute an unforseeable emergency will depend upon the facts of each case, but, in any case, a Hardship Distribution may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship, or (iii) by cessation of deferrals under this Plan.

  • Tax Distribution has the meaning set forth in Section 4.4.

  • Post-Distribution Period means any Tax Period beginning after the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Distribution Date.

  • Unclaimed Distribution means any distribution under the Plan on account of an Allowed Claim or Interest to a Holder that has not: (a) accepted a particular distribution or, in the case of distributions made by check, negotiated such check; (b) given notice to the Reorganized Debtors of an intent to accept a particular distribution; (c) responded to the Debtors’ or Reorganized Debtors’ requests for information necessary to facilitate a particular distribution; or (d) taken any other action necessary to facilitate such distribution.

  • Pre-Distribution Period means any Tax Period ending on or before the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period ending on the Distribution Date.

  • Liquidation Distribution has the meaning specified in Section 9.4(d).

  • Clause C Distribution shall have the meaning specified in Section 14.04(c).

  • Expected Distributions means, with respect to the Certificates of any Trust on any Current Distribution Date, the difference between (A) the Pool Balance of such Certificates as of the immediately preceding Distribution Date (or, if the Current Distribution Date is the first Distribution Date, the original aggregate face amount of the Certificates of such Trust) and (B) the Pool Balance of such Certificates as of the Current Distribution Date calculated on the basis that (i) the principal of the Non-Performing Equipment Notes held in such Trust has been paid in full and such payments have been distributed to the holders of such Certificates, (ii) the principal of the Performing Equipment Notes held in such Trust has been paid when due (without giving effect to any Acceleration of Performing Equipment Notes) and such payments have been distributed to the holders of such Certificates and (iii) the principal of any Equipment Notes formerly held in such Trust that have been sold pursuant to the terms hereof has been paid in full and such payments have been distributed to the holders of such Certificates, but without giving effect to any reduction in the Pool Balance as a result of any distribution attributable to Deposits occurring after the immediately preceding Distribution Date (or, if the Current Distribution Date is the first Distribution Date, occurring after the initial issuance of the Certificates of such Trust). For purposes of calculating Expected Distributions with respect to the Certificates of any Trust, any Premium paid on the Equipment Notes held in such Trust which has not been distributed to the Certificateholders of such Trust (other than such Premium or a portion thereof applied to the payment of interest on the Certificates of such Trust or the reduction of the Pool Balance of such Trust) shall be added to the amount of such Expected Distributions.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Class B Final Distribution Date means the August 16, 2021 Distribution Date.

  • Subsequent Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within thirty (30) days of the end of a calendar quarter, then the first Subsequent Distribution Date will be the last Business Day of the month following the end of the first (1st) calendar quarter after the calendar quarter in which the Effective Date falls.