Distribution Declaration definition
Examples of Distribution Declaration in a sentence
Such adjustment shall become effective immediately prior to the opening of business on the day following the Distribution Declaration Date.
If the full amount of a Class A Dividend is not declared on a BBU Distribution Declaration Date, or is declared but is not paid on the payment date, then such Class A Dividend shall accrue and accumulate, whether or not the Company has earnings, whether or not there are funds legally available for the payment thereof and whether or not such distributions are earned, declared or authorized (such amounts, the “Unpaid Dividends”).
The Borrower undertakes with each Creditor Party (only if the circumstances referred to in Clause 8.2(a) shall apply at the relevant time) to ensure that no later than 3 Business Days after a Relevant Distribution Declaration Date, there shall be transferred to the Retention Account out of the aggregate Earnings received in the Earnings Accounts, the repayment instalment falling due under Clause 8.2(a) at that time.
For the avoidance of doubt, the Borrower and the Parent acknowledge and agree that (i) this Letter Agreement provides for a consent to the Distribution Declaration only, (ii) this Letter Agreement shall not be construed as a consent to the payment of the distribution described in the Distribution Declaration and (iii) the payment of the distribution described in the Distribution Declaration is not permitted by the Credit Agreement, including pursuant to Section 9.04 thereof.
If the Company intends to exercise such right to elect to defer one or more interest payments, it shall give written notification thereof to the Trustee and the Holders no later than the Distribution Declaration Date occurring immediately prior to the first Cash Interest Payment Date with respect to which interest is being deferred.
The Regular Record Date shall be established by the Company in the Distribution Declaration Notice as aforesaid or in a separate written notice given to the Trustee and the Holders no later than the Distribution Declaration Date immediately preceding the Cash Interest Payment Date in question.
At all times from and after the Distribution Declaration Date, each of TRW Automotive and TRW shall use commercially reasonable efforts to make available to the other upon written request, the officers, directors, employees and agents of the members of its Group as witnesses to the extent that such persons may reasonably be required in connection with any Action in which the requesting party may from time to time be involved.
Any determination made by the TRW Board prior to the Distribution Declaration Date concerning the satisfaction or waiver of any or all of the conditions set forth in this Section 3.3 shall be conclusive.
No checks, electronic debits and other similar charges relating to the TRW Automotive Business or the TRW Automotive Liabilities shall be issued on any TRW Bank Accounts on or after the Distribution Declaration Date.
If the full amount of an Equivalent Dividend is not declared on or about a BEP Distribution Declaration Date, or is declared but is not paid on or about the payment date, then such Class A.1 Dividend shall accrue and accumulate, whether or not the Company has earnings, whether or not there are funds legally available for the payment thereof and whether or not such distributions are earned or authorized (such amounts, the “Unpaid Class A.1 Dividends”).