Current Distribution definition

Current Distribution means any Distribution other than a Tax Distribution, including any Distributions pursuant to Section 4.1(b), but excluding any Distributions made by reference to Section 4.1(b) under Sections 9.2 or 12.2, and, in each case, without double-counting any Distributions. For the avoidance of doubt, and notwithstanding anything herein to the contrary, (i) no Liquidating Distribution or Tax Distribution shall be or be deemed to be a Current Distribution, and (ii) no Distributions made in contemplation of a Change of Control, or after a Change of Control is approved by the Board, shall be or be deemed to be Current Distributions.
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Current Distribution shall have the meaning set forth in Section 4(a).
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Current Distribution means dividends payable to Series A preferred shareholders as and to the extent permitted and otherwise in accordance with Section 5.6(c)(iii), as follows: (i) during the period beginning on the date hereof and ending on December 31, 2012, a monthly amount not to exceed $625,000.00 (prorated for March, 2011 as provided below); and (ii) thereafter (prorated, as provided below, if applicable), the lesser of (A) $625,000.00 per month, or (B) a monthly amount equal to the product of (x) .00000000, multiplied by as applicable (y) (a) for CMBS, CRE CDOs and equity interests in CRE CDOs, zero, (b) for the Collateral Assets listed on Schedule 1-A, the balances listed on such Schedule 1-A and (c) for all other Collateral Assets (1) the aggregate outstanding principal balance, as of the first day of the month in question, of the Collateral Assets, less (2) any impaired credit reserves determined in accordance with GAAP in place with respect to such Collateral Assets. Notwithstanding the foregoing, the Current Distribution accrual in any month shall not be less than the smallest of (x) $83,333 or (y) an amount equal to fifty percent (50%) of Net Cash Flow for such month. In any month, the Current Distribution is only payable to the extent permitted and otherwise in accordance with Section 5.6(c)(iii). To the extent that any monthly portion of the Current Distribution is not paid, such Current Distribution may accrue and shall be deferred until a subsequent month, provided, however, that (i) in no event shall aggregate accrued and unpaid Current distributions during the term of the Mezzanine Loan exceed $7,500,000.00 and (ii) upon the occurrence of any Event of Default (x) the entire portion of the Current Distribution that has accrued and remains unpaid as of the date of the Event of Default shall be automatically and unconditionally waived, forfeited and reduced to zero ($0), shall no longer be included as an accrued Current Distribution, and shall not be paid or payable under Section 5.6(c)(iii) and (y) no portion of the Current Distribution shall thereafter accrue and be deferred to a subsequent month. The Current Distribution for any partial month period shall be pro-rated based upon the actual number of days during such period divided by the number of days in such calendar month.
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Examples of Current Distribution in a sentence

  • Total Available Credit Enhancement Amounts Class B Balance Class B Balance on Prior on Current Distribution Distribution Date Date (a) Maximum Amount $39,473,700.00 $39,473,700.00 (b) Available Amount $39,473,700.00 $39,473,700.00 (c) Amount of unreimbursed Drawings on Credit Enhancement $0.00 (d) Credit Enhancement Fee payable to Discover Receivables Financing Corp.

  • Total Available Credit Enhancement Amounts Class B Balance Class B Balance on Prior on Current Distribution Distribution Date Date (a) Maximum Amount $59,210,550.00 $59,210,550.00 (b) Available Amount $59,210,550.00 $59,210,550.00 (c) Amount of unreimbursed Drawings on Credit Enhancement $0.00 (d) Credit Enhancement Fee payable to Discover Receivables Financing Corp.

  • Current Distribution Class Fee Level Effective Date ----- -------------------- -------------- 1.

  • Withdrawal from the Principal Funding Account on the Current Distribution Date $ 0.00 76.

  • Information Regarding the Current Distribution to NoteholdersThe amount of distribution to Noteholders on the related Payment Date per $1,000 Initial Dollar Principal Amount TrancheIX.

  • Total Available Credit Enhancement Amounts Class B Balance Class B Balance on Prior on Current Distribution Distribution Date Date (a) Maximum Amount $118,421,100.00 $118,421,100.00 (b) Available Amount $118,421,100.00 $118,421,100.00 (c) Amount of unreimbursed Drawings on Credit Enhancement $0.00 (d) Credit Enhancement Fee payable to Discover Receivables Financing Corp.

  • Total Available Credit Enhancement Amounts Class B Balance Class B Balance on Prior on Current Distribution Distribution Date Date (a) Maximum Amount $63,157,950.00 $63,157,950.00 (b) Available Amount $63,157,950.00 $63,157,950.00 (c) Amount of unreimbursed Drawings on Credit Enhancement $0.00 (d) Credit Enhancement Fee payable to Discover Receivables Financing Corp.

  • Total Available Credit Enhancement Amounts Class B Balance Class B Balance on Prior on Current Distribution Distribution Date Date (a) Maximum Amount $98,684,250.00 $98,684,250.00 (b) Available Amount $98,684,250.00 $98,684,250.00 (c) Amount of unreimbursed Drawings on Credit Enhancement $0.00 (d) Credit Enhancement Fee payable to Discover Receivables Financing Corp.

  • Total Available Credit Enhancement Amounts Class B Balance Class B Balance on Prior on Current Distribution Distribution Date Date (a) Maximum Amount $71,052,675.00 $71,052,675.00 (b) Available Amount $71,052,675.00 $71,052,675.00 (c) Amount of unreimbursed Drawings on Credit Enhancement $0.00 (d) Credit Enhancement Fee payable to Discover Receivables Financing Corp.

  • Withdrawal from the Principal Funding Account on the Current Distribution Date $ 0.00 75.


More Definitions of Current Distribution

Current Distribution has the meaning assigned to such term in clause (f) of paragraph 1.01 above.
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Related to Current Distribution

  • 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.

  • 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.

  • 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.

  • First Distribution Date 20___ Initial Certificate Balance of this Certificate ("DENOMINATION") : $ Initial Class Certificate Balance of all Certificates of this Class: : $ Pass-Through Rate : LIBOR + % CUSIP : ISIN : Popular ABS, Inc. Mortgage Pass-Through Certificates, Series []-[] Class []-[] evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of a pool of fixed and adjustable rate mortgage loans (collectively, the "LOANS"). Popular ABS, Inc., as Depositor Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Balance at any time may be less than the Certificate Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Sellers, the Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate Initial Certificate Balances of all Certificates of the Class to which this Certificate belongs) in certain monthly distributions with respect to a Trust Fund consisting primarily of the Loans deposited by Popular ABS, Inc. (the "DEPOSITOR"). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "AGREEMENT") among the Depositor, ____________________, __________________ and _________________, as sellers (in such capacity, collectively, the "SELLERS"), Equity One, Inc., a Delaware corporation, as servicer (in such capacity, the "SERVICER"), and ___________________________, as trustee (the "TRUSTEE"). To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trustee. * * *

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

  • Post-Distribution Period means any Taxable period (or portion thereof) beginning after the Distribution Date.

  • 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.

  • 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:

  • 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.

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Capital Account Distribution Date and "Income Account Distribution Date" shall mean the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

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

  • Quarterly Distribution means with respect to each Distribution Date, the distribution to be made to the Holders of the Up-MACRO Holding Shares that are Outstanding on the Distribution Date pursuant to priority sixth of Section 5.2(a), which shall consist of the cash on deposit in the Up-MACRO Holding Trust after it makes or receives a payment under the Income Distribution Agreement and makes all other payments or investments in Eligible Treasuries that it is required to make pursuant to such Section 5.2(a).

  • 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.

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

  • 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.

  • Total Distribution Amount With respect to any Distribution Date, the sum of (i) the aggregate of the Interest Remittance Amounts for such date; (ii) the aggregate of the Principal Remittance Amounts for such date; and (iii) all Prepayment Premiums collected during the related Prepayment Period.

  • Pre-Distribution Period means any Tax Year or other taxable period that ends on or before the Distribution Date and, in the case of any Straddle Period, that part of the Tax Year or other taxable period through the end of the day on the Distribution Date.

  • Current Class B Interest Distribution Amount As to any Distribution Date, the amount distributed in respect of the Classes of Class B Certificates pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and twentieth of Section 4.01(a) on such Distribution Date.

  • Tax Distribution Date has the meaning set forth in Section 4.01(b)(i).

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

  • 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.

  • 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".

  • 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.

  • Qualified Reservist Distribution means a distribution (i) from an IRA or elective deferrals under a section 401(k) or 403(b) plan, or a similar arrangement, (ii) to an individual ordered or called to active duty after September 11, 2001 (because he or she is a member of a reserve component) for a period of more than 179 days or for an indefinite period, and (iii) made during the period beginning on the date of the order or call and ending at the close of the active duty period.

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