Distribution Amount definition
Examples of Distribution Amount in a sentence
On each Distribution Date, each Class of Uncertificated Lower-Tier Interests shall be deemed to receive distributions in respect of interest in an amount equal to the sum of the Interest Distribution Amount and Interest Shortfall in respect of its Related Certificates, in each case to the extent actually distributable thereon as provided in Section 4.1(a).
Amounts distributable pursuant to this paragraph are referred to herein collectively as the “Lower-Tier Distribution Amount”, and shall be made by the Certificate Administrator by deeming such Lower-Tier Distribution Amount to be withdrawn from the Lower-Tier Distribution Account to be deposited in the Upper-Tier Distribution Account on each Distribution Date.
Any Available Funds that remain in the Lower-Tier Distribution Account on each Distribution Date after distribution of the Lower-Tier Distribution Amount shall be distributed to the Holders of the Class R Certificates (in respect of the Class LT-R Interest, but only to the extent of the amount remaining in the Lower-Tier Distribution Account, if any).
Available Funds applied on any Distribution Date to pay the Interest Distribution Amount with respect to any Class of Regular Certificates for such Distribution Date shall be applied first to pay the Current Interest Accrual Amount with respect to such Class of Certificates for such Distribution Date and then to pay any Class Interest Shortfall in respect of the immediately preceding Distribution Date for such Class of Certificates.
Unless paid in cash as determined by the Board, each such Quarterly Preferred Distribution shall be paid by the Company in kind by increasing the Preferred Stated Value of each Preferred Unit on its books and records by the applicable Preferred Distribution Amount on the applicable Preferred Distribution Date (each a “PIK Distribution”).