Debt Reduction definition
Examples of Debt Reduction in a sentence
The Manager shall not be authorized to call for more than one (1) Debt Reduction Capital Contribution per fiscal quarter pursuant to this subsection (ii).
Under no circumstances will Target be required to make any cash payments as a result of the Debt Reduction Payments.
If a Settlement Class member wishes to be excluded from the Settlement Class and the Settlement, that Settlement Class member is required to submit to the Settlement Administrator at the address listed in the Settlement Class Notices, a written, signed, and dated statement that he or she is opting-out of the Settlement Class and understands that he or she will not receive a Settlement Class Member Cash Payment or a Debt Reduction Payment from the Settlement of the Action.
In exchange for the releases described below, dismissal with prejudice of the Minnesota Action described below, and a final judgment in the California Action pursuant to the terms of this Settlement Agreement, Target agrees to make the business practice changes described in Section 2.2(a) and to pay the Cash Settlement Amount and Debt Reduction Cash Amount.
The information provided by the Settlement Administrator shall be considered conclusive as to which individuals are entitled to receive Settlement Class Member Cash Payments or Debt Reduction Payments and as to the amounts.
Within 105 days of the Effective Date, the Administrator shall send notifications of such Debt Reduction Payments to each eligible Settlement Class Member, which notice shall include the amount of the Debt Reduction Payment.
The Parties shall have no responsibility or liability for any federal, state, or other taxes owed by Settlement Class Members as a result of, or that arise from, any Settlement Class Member Cash Payment, Debt Reduction Payment or any other term or condition of this Agreement.
Within 60 days of the Effective Date, Target shall make the Debt Reduction Payments as described in Section 2.2(b)(6).
Notwithstanding the foregoing, in the event of a refinancing or repayment of debt (including a repayment of debt in connection with a Sale of a Property) that is then currently allocable to the Saracen Members that could result in a Saracen Debt Reduction Event, Manager will obtain a Tax Opinion.
All of the Purchase Proceeds shall be used by the Company to retire the Company obligations as set forth in the Debt Reduction Schedule attached hereto as Exhibit C.