Common use of Minimum Distributions Clause in Contracts

Minimum Distributions. No fractional shares of New Equity Interests shall be distributed, and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to this Plan on account of an Allowed Claim or Allowed Equity Interest, as applicable, would otherwise result in the issuance of a number of shares of New Equity Interests that is not a whole number, the actual distribution of shares of New Equity Interests shall be rounded as follows: (a) fractions of one-half (½) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (½) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Equity Interests to be distributed under this Plan shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Sources: Restructuring Support Agreement (Appgate, Inc.)

Minimum Distributions. No fractional shares of New Equity Interests shall be distributed, distributed and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to this the Plan on account of an Allowed Claim or Allowed Equity Interest, Interest (as applicable, ) would otherwise result in the issuance of a number of shares of New Equity Interests that is not a whole number, the actual distribution of shares of New Equity Interests shall be rounded as follows: (a) fractions of one-half (½1⁄2) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (½1⁄2) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares of New Equity Interests to be distributed under this the Plan shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Sources: Restructuring Support Agreement (Avaya Holdings Corp.)

Minimum Distributions. No fractional shares units of New Reorganized Common Equity Interests shall be distributed, and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to this Plan on account of an Allowed Claim or Allowed Equity Interest, as applicable, would otherwise result in the issuance of a number of shares units of New Reorganized Common Equity Interests that is not a whole number, the actual distribution of shares units of New Reorganized Common Equity Interests shall be rounded as follows: (a) fractions of one-half (½1⁄2) or greater shall be rounded to the next higher whole number and (b) fractions of less than one-half (½1⁄2) shall be rounded to the next lower whole number with no further payment therefore. The total number of authorized shares units of New Reorganized Common Equity Interests to be distributed under this Plan to Holders of Allowed Claims shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Sources: Restructuring Support Agreement (Cutera Inc)

Minimum Distributions. No fractional shares of New Equity Interests Common Stock shall be distributed, and no Cash shall be distributed in lieu of such fractional amounts. When any distribution pursuant to this the Plan on account of an applicable Allowed Claim or Allowed Equity Interest, as applicable, Interest would otherwise result in the issuance of a number of shares of New Equity Interests Common Stock that is not a whole number, the actual distribution of shares of the New Equity Interests Common Stock shall be rounded as follows: ; (a) fractions of one-half (½1/2) or greater shall be rounded to the next higher highest whole number and (b) fractions of less than one-half (½1/2) shall be rounded to the next lower whole number with no further payment thereforetherefor. The total number of authorized shares of New Equity Interests to be distributed under this Plan Common Stock shall be adjusted as necessary to account for the foregoing rounding.

Appears in 1 contract

Sources: Restructuring Support Agreement (Ion Geophysical Corp)