Periodic Distributions Cap definition

Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2014 will be £15 per Core Capital Deferred Share, and (subject as stated below) in respect of each subsequent Financial Year will be adjusted for inflation by reference to the United Kingdom Consumer Price Index (overall index, 2005=100) ("CPI") published by the Office for National Statistics (or any successor to, or replacement of, that index). Such adjustment will be made by applying the CPI annual inflation percentage published by the Office for National Statistics in its statistical bulletin for the last full calendar month of the Financial Year in respect of which the Periodic Distributions are payable (being the percentage increase or decrease over the twelve months to and including that month) to the prevailing Periodic Distributions Cap. If the CPI ceases to be published and no direct successor or replacement index is published, the Board shall be entitled to determine an appropriate replacement index for determining inflation-based adjustments to the Periodic Distributions Cap, and shall have sole discretion to determine any modifications to the method of determining inflation-based adjustments to the Periodic Distributions Cap during the transition from CPI to the replacement index. The Society shall in each year determine the adjustment to the Periodic Distributions Cap promptly following publication of the relevant CPI (or successor or replacement index) data by the Office for National Statistics (or such successor or other organisation as may be responsible for publishing official data with respect to the relevant index) and will (following the Society first issuing Core Capital Deferred Shares and while the Society has Core Capital Deferred Shares in issue) notify Members of the adjusted Periodic Distributions Cap not later than by the date of the first Annual General Meeting following publication of the relevant data. Such notice will be given on the Society's website or as otherwise decided by the Board if notice on the website is not possible. In the event that adjustment of the Periodic Distributions Cap in the manner described above would prejudice the regulatory capital treatment of the Core Capital Deferred Share, the Society will disapply those adjustment provisions and ...
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Periodic Distributions Cap means £15 per Share, being the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year;
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Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2014 will be £15 per Share, and (subject as stated below) in respect of each subsequent Financial Year will be adjusted for inflation by reference to the United Kingdom Consumer Price Index (overall index, 2005=100) (“CPI”) published by the Office for National Statistics (or any successor to, or replacement of, that index). Such adjustment will be made by applying the CPI annual inflation percentage
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Examples of Periodic Distributions Cap in a sentence

  • The total Distribution paid on each CCDS in respect of any given financial year of the Society (being the aggregate of the Interim Distribution (if any) paid during such financial year and the Final Distribution (if any) paid in respect of such financial year) shall not exceed the prevailing Periodic Distributions Cap determined in accordance with the Rules (the Cap).

  • The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2013 will be £15 per Share, and (subject as stated below) in respect of each subsequent Financial Year will be adjusted for inflation by reference to the United Kingdom Consumer Price Index (overall index, 2005=100) (‘CPI’) published by the Office for National Statistics (or anysuccessor to, or replacement of, that index).

  • The Society shall in each year determine the adjustment to the Periodic Distributions Cap promptly following publication of the relevant CPI (or successor or replacement index) data by the Office for National Statistics (or such successor or other organisation as may be responsible for publishing official data with respect to the relevant index) and will notify Members of the adjusted Periodic Distributions Cap not later than at the first Annual General Meeting following publication of the relevant data.

  • The Society shall in each year determine the adjustment to the Periodic6Distributions Cap promptly following publication of the relevant CPI (or successor or replacement index) data by the Office for National Statistics (or such successor or other organisation as may be responsible for publishing official data with respect to the relevant index) and will notify Members of the adjusted Periodic Distributions Cap not later than at the first Annual General Meeting following publication of the relevant data.

  • The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2013 was £15 per Share, and (subject as stated below) in respect of each subsequent Financial Year will be adjusted for inflation by reference to the United Kingdom Consumer Price Index (overall index, 2005=100) (‘CPI’) published by the Office for National Statistics (or any successor to, or replacement of, that index).

  • Any Core Capital Deferred Share must be issued on terms that limit the amount of the Periodic Distributions that may be paid on any such Share in respect of any Financial Year to not more than the applicable Periodic Distributions Cap, in order to protect the reserves of the Society.

  • If the CPI ceases to be published and no direct successor or replacement index is published, the Board shall beentitled to determine an appropriate replacement index for determining inflation adjustments to the Periodic Distributions Cap, and shall have sole discretion to determine any modification to the method of determining inflation adjustments to the Periodic Distributions Cap during the transition from CPI to the replacement index.

  • In particular there is a definition of 'Periodic Distributions Cap' which, in order to protect the Society's reserves, limits the maximum amount of distributions which the Society may pay on any CCDS initially to £15 per share per year (calculated on an assumed first issue price of £100 per share), adjusted each year by reference to the UK Consumer Price Index.

  • Effective date—2022 c 268; 2021 c 215: See note following RCW 7.105.900.Effective date—2018 c 284 §§ 3, 8, 13, 20, 33, 36, and 67: See note following RCW 13.34.030.

  • Such adjustment will be made by applying the CPI annual inflation percentage published by the Office for National Statistics in its statistical bulletin for the last full calendar month ofthe Financial Year in respect of which the Periodic Distributions are payable (being the percentage increase or decrease over the twelve months to and including that month) to the prevailing Periodic Distributions Cap.


More Definitions of Periodic Distributions Cap

Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect of the Financial Year to 31 December 2014 will be £15.00 per Core Capital Deferred Share, and (subject
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Periodic Distributions Cap means the maximum amount of Periodic Distributions which may be paid on each Core Capital Deferred Share in respect of any given Financial Year. The initial Periodic Distributions Cap applicable to Periodic Distributions in respect
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Related to Periodic Distributions Cap

  • Periodic Distribution Date means the first Business Day that is as soon as reasonably practicable occurring approximately ninety (90) days after the immediately preceding Periodic Distribution Date.

  • Regular Distribution Dates means each April 1 and October 1, commencing on April 1, 2016; provided, however, that, if any such day shall not be a Business Day, the related distribution shall be made on the next succeeding Business Day without additional interest.

  • Cash Flow Distribution Amount As to any calendar month, the aggregate amount of principal distributable in respect of the Mortgage Securities in such calendar month.

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Current Distribution Date means a Distribution Date specified as a reference date for calculating the Expected Distributions with respect to the Certificates of any Trust as of such Distribution Date.

  • 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".

  • 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.

  • Monthly Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions" in the Prospectus Part I for a Trust.

  • Relevant Distribution Date With respect to (a) any Significant Obligor with respect to the Trust, the Distribution Date, and (b) any Significant Obligor with respect to an Other Securitization Trust, the “Distribution Date” (or an analogous concept) under the related Other Pooling and Servicing Agreement.

  • Class C Distribution Amount With respect to any Distribution Date, the sum of (i) the Current Interest for the Class C Interest for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however, that, on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralization Amount.

  • First Distribution Date Initial Certificate Principal Balance of this May 27, 2003 Certificate as of the Cut-off Date: $___________ Master Servicer: Wells Fargo Bank Mixxxxxta, National Association CUSIP: ___________ Assumed Final Distribution Date: ___________ ASSET-BACKED CERTIFICATE SERIES 2003-AC2 This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Bear Stearns Asset Backex Xxxxxities, Inc., the Master Servicer, the Trustee or the Securities Administrator referred to below or any of their affiliates or any other person. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Bear Stearns Asset Backex Xxxxxities, Inc., the Master Servicer, the Trustee or the Securities Administrator or any of their affiliates or any other person. None of Bear Stearns Asset Backex Xxxxxities, Inc., the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates. This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced hereby in the beneficial ownership interest of Certificates of the same Class as this Certificate in a trust (the "Trust Fund") generally consisting of conventional first lien, fixed rate mortgage loans secured by one- to four- family residences, units in planned unit developments and individual condominium units (collectively, the "Mortgage Loans") sold by Bear Stearns Asset Backex Xxxxxities, Inc. ("BSABS"). The Mortgage Loans were sold by EMC Mortgage Corporation

  • Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

  • Available Distribution Amount As to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to (a) the sum of (i) the amount relating to the Mortgage Loans on deposit in the Custodial Account as of the close of business on the immediately preceding Determination Date, including any Subsequent Recoveries, and amounts deposited in the Custodial Account in connection with the substitution of Qualified Substitute Mortgage Loans, (ii) the amount of any Advance made on the immediately preceding Certificate Account Deposit Date, (iii) any amount deposited in the Certificate Account on the related Certificate Account Deposit Date pursuant to the second paragraph of Section 3.12(a), (iv) any amount deposited in the Certificate Account pursuant to Section 4.07, (v) any amount that the Master Servicer is not permitted to withdraw from the Custodial Account or the Certificate Account pursuant to Section 3.16(e), (vi) any amount received by the Trustee pursuant to the Surety Bond in respect of such Distribution Date and (vii) the proceeds of any Pledged Assets received by the Master Servicer, reduced by (b) the sum as of the close of business on the immediately preceding Determination Date of (w) aggregate Foreclosure Profits, (x) the Amount Held for Future Distribution, and (y) amounts permitted to be withdrawn by the Master Servicer from the Custodial Account in respect of the Mortgage Loans pursuant to clauses (ii)-(x), inclusive, of Section 3.10(a). Such amount shall be determined separately for each Loan Group. Additionally, with respect to any Mortgage Pool that is comprised of two or more Loan Groups, if on any Distribution Date Compensating Interest provided pursuant to this Section 3.16(e) is less than Prepayment Interest Shortfalls incurred on the Mortgage Loans in connection with Principal Prepayments in Full and Curtailments made in the prior calendar month, such Compensating Interest shall be allocated on such Distribution Date to the Available Distribution Amount for each Loan Group on a pro rata basis in accordance with the respective amounts of such Prepayment Interest Shortfalls incurred on the Mortgage Loans in such Loan Group in respect of such Distribution Date.

  • Interim Distribution Date means the date as soon as reasonably practicable after the Plan Implementation Date;

  • Quarterly 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 45 days of the end of a calendar quarter, the first Quarterly Distribution Date will be the last Business Day of the month following the end of the first calendar quarter after the calendar quarter in which the Effective Date falls.

  • REMIC I Available Distribution Amount For each Loan Group for any Distribution Date, the sum of the following amounts with respect to the Mortgage Loans in such Loan Group:

  • Distribution Dates The 25th day of each month or, if such 25th day is not a business day, the next succeeding business day beginning in ___________, _____. Certificate Rating for the Certificates Being Purchased by the Underwriter: Class Ratings S&P Xxxxx’x Fitch

  • Distribution Rate means, for the Distribution Period beginning on (and including) the date of original issuance and ending on (but excluding) the Distribution Payment Date in June 2004, the rate per annum of 3.90%, and for each Distribution Period beginning on or after the Distribution Payment Date in June 2004, the Coupon Rate for such Distribution Period.

  • Interest Distribution Amount With respect to any Distribution Date and any Class A Certificates, any Mezzanine Certificates and any Class CE Certificates, the aggregate Accrued Certificate Interest on the Certificates of such Class for such Distribution Date.

  • REMIC III Available Distribution Amount For any Distribution Date, the amount distributed from REMIC II to REMIC III on such Distribution Date in respect of the REMIC II Regular Interests.

  • Distribution Margin means the margin which the IPTV Operator is entitled for the purpose of distribution of pay Zee Group Channels or bouquet of pay Zee Group Channels, as the case may be.

  • REMIC I Distribution Amount For any Distribution Date, the REMIC I Available Distribution Amount shall be distributed to the REMIC I Regular Interests and the Class R-1 Residual Interest in the following amounts and priority:

  • REMIC II Available Distribution Amount For any Distribution Date, the amount distributed from REMIC I to REMIC II on such Distribution Date in respect of the REMIC I Regular Interests.