Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:
Distribution Conditions means as to any relevant action contemplated in this Agreement, (i) no Event of Default has then occurred and is continuing or would result from any action and (ii) either (a) Average Availability on a Pro Forma Basis immediately after giving effect to such action would be at least the greater of (x) 20.0% of the Line Cap and (y) $100.0 million and over the 30 consecutive days prior to consummation of such action, Average Availability was no less than the greater of (x) 20.0% of the Line Cap and (y) $100.0 million, also on a Pro Forma Basis for such action or (b)(1) Average Availability on a Pro Forma Basis immediately after giving effect to such action would be at least the greater of (x) 15% of the Line Cap and (y) $75.0 million and over the 30 consecutive days prior to consummation of such action, Average Availability was no less than the greater of (x) 15% of the Line Cap and (y) $75.0 million, also on a Pro Forma Basis for such action and (2) the Consolidated Fixed Charge Coverage Ratio would be at least 1.0 to 1.0 on a Pro Forma Basis for such action.
Distribution Conditions has the meaning given in Section 6.6.2.
Examples of Distribution Conditions in a sentence
This is a consequence of the relatively small size of the site and the strategic approach to contributions sought for the Southern Fringe sites which has assessed the cumulative impact of the various developments and sought contributions on a proportionate basis.
As per Regulation 134 (I) of OERC Distribution (Conditions of Supply) Code, 2019 the supply for load above 5 KW upto and including 70 KVA shall be in 3-phase, 3 or 4 wires at 400 volts between phases.
As per Regulation 76 (1) (c) of OERC Distribution (Conditions of Supply) Code, 2004 the supply for load above 5 KW upto and including 70 KVA shall be in 2-phase, 3-wires or 3-phase, 3 or 4 wires at 400 volts between phases.
The Licensee’s compliance with the Standards of Performance may be measured, in part, by the Licensee’s adherence to the Distribution Code, Distribution (Conditions of Supply) Code and other codes and Regulations set forth by the Commission.
OERC Distribution (Conditions of Supply) Code, 2004 and amendments thereto.
More Definitions of Distribution Conditions
Distribution Conditions is defined in Section 10.10.
Distribution Conditions means:
Distribution Conditions means, with respect to any transaction undertaken in reliance on the Distribution Conditions, (a) at the time of such transaction and after giving effect thereto, no Event of Default shall have occurred and be continuing and (b) either (1) Availability on a Pro Forma Basis immediately after giving effect to such transaction (and the Availability over the prior 30-day period on a Pro Forma Basis assuming such transaction occurred on the first day of such 30-day prior period) is at least the greater of (i) 15% of the Line Cap and (ii) $110,000,000 and the Company is in compliance on a Pro Forma Basis with the Springing Fixed Charge Covenant recomputed as of the last day of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.02(a) or (b) (or prior to the first delivery under such sections, the latest financial statements referred to in Section 6.01(e)), whether or not compliance with such Springing Fixed Charge Covenant is otherwise required at such time or (2) Availability on a Pro Forma Basis immediately after giving effect to such transaction (and the Availability over the prior 30-day period on a Pro Forma Basis assuming such transaction occurred on the first day of such 30-day prior period) is at least the greater of (i) 20% of the Line Cap and (ii) $150,000,000.
Distribution Conditions is defined in the Depositary Agreement.
Distribution Conditions means, with respect to any such Contract Disposition Transaction pursuant to clause (ii) of the definition thereof, (i) the aggregate Principal Balances of all Pledged Contracts to be distributed shall not exceed the Borrowing Base Surplus, and (ii) such Contract Disposition Transaction shall be made in furtherance of the Borrower’s corporate purpose.
Distribution Conditions means, with respect to any Restricted Payment, (a) no Default or Event of Default has occurred and is continuing or would occur as a result of the making of such Restricted Payment, as applicable, and (b) the Borrower is in compliance with the financial covenants set forth in Section 6.12 for the Computation Period ending on the last day of the last period in respect of which financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b), as applicable, determined on a pro forma basis (so that there shall be included as additional Total Funded Indebtedness an amount equal to the sum of the aggregate amount of such Restricted Payment to the extent that the same results in an increase in the outstanding Secured Obligations).
Distribution Conditions as of any date of determination, (a) no Default or Event of Default shall have occurred and be continuing as of such date, (b) the Debt Service Reserve Account is funded in an amount equal to not less than the then-applicable Debt Service Reserve Requirement as of the Quarterly Payment Date occurring on or immediately prior to such date, (c) no Revolving L/C Unreimbursed Drawings are outstanding as of the Quarterly Payment Date occurring on or immediately prior to such date of determination, (d) no Revolving L/C Advances resulting from a drawing under any Letter of Credit issued for purposes of meeting the Debt Service Reserve Requirement that is used to pay Debt Service at a time when the Debt Service Coverage Ratio measured as of the date of such drawing is less than [***], in each case, are outstanding as of the Quarterly Payment Date occurring on or immediately prior to such date of determination, and (e) the Debt Service Coverage Ratio for the immediately preceding four-quarter period, measured as of the Quarterly Payment Date occurring on or immediately prior to such date, shall be no less than [***].