Distribution Election definition

Distribution Election. (a) If there occurs an Event of Default (as defined in the Underlying Securities Indenture) on the Underlying Securities under clauses (1) or (2) of Section 5.01 of the Underlying Securities Indenture, then the Trustee, upon receiving notice of such event, shall, on or immediately after the 30th day after such event, direct the Market Agent to sell the Underlying Securities and a pro rata portion of the Related Assets held by the Trust, in accordance with the Sale Procedures, and the Liquidation Proceeds, if any, shall be divided between the Classes in accordance with the Allocation Ratio and each Class' portion shall be deposited into such Class' Certificate Account and distributed to such Class' Certificateholders pro rata on the first Business Day following such deposit into such Certificate Account.

Distribution Election. With respect to any Series, as specified in the related Supplement.

Distribution Election means the designation by a Director of the manner of distribution of the amounts and quantities held in the Director's Deferred Compensation Accounts upon the director's termination from the Board pursuant to Section 5.4.

Examples of Distribution Election in a sentence

• If the undersigned does not deliver a valid Distribution Election Notice prior to the Distribution Election Deadline, or this Distribution Election Notice does not indicate a Distribution Election, or more than one Distribution Election is recorded, the undersigned will be deemed to have made the 75% Distribution Election and shall be required to attend at the Creditors’ Meeting of the General Unsecured Creditor Class to cast its vote on the CCAA Plan.

• The undersigned acknowledges that if the undersigned selects Convenience Class Distribution Election, the undersigned will be deemed to vote in favour of the CCAA Plan.

• If a Disputed General Unsecured Creditor Claim is finally determined to be an Accepted Claim (in whole or in part), the holder of such Accepted Claim shall be deemed to have made the 75% Distribution Election hereunder, and shall be paid the amount to which it is entitled under this Plan by Coalspur rather than by the Monitor out of the General Unsecured Creditor Cash Fund.

• If a General Unsecured Creditor with an Accepted Claim, who is not a Convenience Class Creditor, does not deliver a Distribution Election Notice prior to the Distribution Election Deadline, such General Unsecured Creditor shall be deemed to have made a 75% Distribution Election.

• General Unsecured Creditors with Accepted Claims as of the Initial Distribution Date, other than those General Unsecured Creditors who have made the Installment Distribution Election, shall receive distributions from the General Unsecured Creditor Cash Fund in accordance with Section 5.2 of this Plan.

More Definitions of Distribution Election

Distribution Election means an election made in accordance with Section 5.01.

Distribution Election. Upon notice of the events set forth in Section 3.04 of the Standard Terms, the Trustee shall exercise the remedy set forth in clause (i) of such Section.

Distribution Election means the written election filed with the Committee in accordance with Section 6.2(b).

Distribution Election means the election a Member makes to receive Distributions in cash.

Distribution Election means the election a Subsequent Member makes to receive Annual Distributions in cash.

Distribution Election means an election to receive the Convenience Class Distribution Election, the 75% Distribution Election, or the Installment Distribution Election;

Distribution Election means the election by a Participant made in accordance with Articles III and VI that specifies the time and form in which the Participant’s Account will be distributed.