Allocable Excess Proceeds definition

Allocable Excess Proceeds will mean the product of:

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Allocable Excess Proceeds has the meaning set forth in Section 4.12(c).

Allocable Excess Proceeds means the product of: (i) the Excess Proceeds and (ii) a fraction, (1) the numerator of which is the aggregate principal amount of the Notes outstanding on the date of the Prepayment Offer, and (2) the denominator of which is the sum of the aggregate principal amount of the Notes outstanding on the date of the Prepayment Offer and the aggregate principal amount of other Debt of the Company outstanding on the date of the Prepayment Offer that is pari passu in right of payment with the Notes and subject to terms and conditions in respect of Asset Sales similar in all material respects to this Section 4.13 and requiring the Company to make an offer to purchase such Debt at substantially the same time as the Prepayment Offer.

Examples of Allocable Excess Proceeds in a sentence

• Upon completion of each Excess Proceeds Offer, the amount of Allocable Excess Proceeds will be reset at zero.

• As promptly as practicable following termination of the offer period (the “Purchase Date”), the Issuer shall apply all Allocable Excess Proceeds (the “Offer Amount”) to the purchase of Notes or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Excess Proceeds Offer.

• If the aggregate principal amount of all Securities surrendered for purchase by Holders thereof exceeds the amount of Allocable Excess Proceeds, then the Trustee shall select the Securities to be purchased pro rata according to principal amount or by lot with such adjustments as may be deemed appropriate by the Corporation so that only Securities in denominations of US $1,000, or integral multiples thereof, shall be purchased.

• If the aggregate principal amount of all Securities surrendered for purchase by Holders thereof exceeds the applicable amount of Allocable Excess Proceeds, then the Trustee shall select the Securities to be purchased pro rata according to principal amount with such adjustments as may be deemed appropriate by the Corporation so that only Securities in denominations of US $1,000, or integral multiples thereof, shall be purchased.

• As promptly as practicable following termination of the offer period (the "Purchase Date"), the Issuer shall apply all Allocable Excess Proceeds (the "Offer Amount") to the purchase of Notes or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Excess Proceeds Offer.

More Definitions of Allocable Excess Proceeds

Allocable Excess Proceeds has the meaning specified in Section 1013.

Allocable Excess Proceeds means the product of: (i) the Excess Proceeds and (ii) a fraction, (A) the numerator of which is the aggregate principal amount of the Notes outstanding on the date of the Asset Sale Offer, and (B) the denominator of which is the sum of the aggregate principal amount of the Notes outstanding on the date of the Asset Sale Offer and the aggregate principal amount of other Debt of the Company outstanding on the date of the Asset Sale Offer that is pari passu in right of payment with the Notes and subject to terms and conditions in respect of Asset Sales similar in all material respects to this Section 4.12 and requiring the Company to make an offer to purchase such Debt at substantially the same time as the Asset Sale Offer.

Allocable Excess Proceeds with respect to the Notes shall mean the product of:

Allocable Excess Proceeds means the product of: (i) the Excess Proceeds and (ii) a fraction, (A) the numerator of which is the aggregate principal amount of the Notes outstanding on the date of the Asset Sale Offer, and (B) the denominator of which is the sum of the aggregate principal amount of the Notes outstanding on the date of the Asset Sale Offer and the aggregate principal amount of other Debt of the Company outstanding on the date of the Asset Sale Offer that is pari passu in right of payment with the Notes and subject to terms and conditions in re- spect of Asset Sales substantially similar to this Section 4.12 and requiring the Company to make an offer to purchase such Debt at substantially the same time as the Asset Sale Offer.

Allocable Excess Proceeds means the product of (x) the Excess Proceeds and (y) a fraction, the numerator of which is the aggregate principal amount of the Securities outstanding on the date of the Prepayment Offer and the denominator of which is the sum of the aggregate principal amount of the Securities outstanding on the date of the Prepayment Offer and the aggregate principal amount of other Indebtedness of the Corporation outstanding on the date of the Prepayment Offer that is pari passu in right of payment with the Securities and subject to terms and conditions in respect of Asset Sales similar in all material respects to this Section 3.07 and requiring the Corporation to make an offer to purchase such Indebtedness substantially at the same time of the Prepayment Offer. Notwithstanding the foregoing, in no event shall the Corporation be required to repurchase or make a Prepayment Offer or Prepayment Offers to purchase more than 25% of the original aggregate principal amount of the Securities on or prior to the Fifth Anniversary. If (x) the aggregate Allocable Excess Proceeds (disregarding any resetting to zero pursuant to the preceding paragraph) resulting from Asset Sales occurring on or prior to the Fifth Anniversary that, but for the first sentence of this paragraph, the Corporation would be required to apply to repurchase or make an offer or offers to purchase Securities, less (y) any Deficiencies resulting from any Prepayment Offer made on or prior to the Fifth Anniversary, exceed the sum of (a) 25% of the original aggregate principal amount of the Securities, plus (b) without duplication of amounts specified in clause (y) of this sentence, any portion of such Allocable Excess Proceeds in excess of 25% of the original aggregate principal amount of the Securities applied at the election of the Corporation to repurchase or make an offer or offers to purchase Securities prior to the Fifth Anniversary (such excess being the “Unoffered Excess Proceeds”), then, subject to and in accordance with the procedures set forth in this covenant, within five Business Days after the Fifth Anniversary the

Allocable Excess Proceeds and "ALLOCABLE SPECTRUM PROCEEDS," as the case may be, shall mean the product of:

Allocable Excess Proceeds means the product of (x) the Excess Proceeds and (y) a fraction, the numerator of which is the aggregate principal amount of the Securities outstanding on the date of the Offer and the denominator of which is the sum of the aggregate principal amount of the Securities outstanding on the date of the Offer and the aggregate principal amount of other Indebtedness of the Company outstanding on the date of the Offer that is pari passu in right of payment with the Securities and subject to terms and conditions in respect of Asset Dispositions similar in all material respects to the covenant described hereunder and requiring the Company to make an offer to purchase such Indebtedness substantially at the same time as the Offer.