Distribution Net Proceeds definition
Distribution Net Proceeds means an amount determined by the Calculation Agent being the pro rata share of the Distribution Proceeds of the Charged Assets in respect of one Note; less the pro rata share in respect of one Note of any redemption and settlement costs and expenses in respect of the Charged Assets; less the pro rata share in respect of one Note of any fees, costs or expenses owing to the Trustee and the Agents in connection with the Notes; and less the pro rata share in respect of one Note of any fees payable to the Arranger pursuant to the Conditions of the Notes.
Distribution Net Proceeds. An amount determined by the Calculation Agent being the pro rata share of the Distribution Proceeds of the Charged Assets in respect of one Note; less the pro rata share in respect of one Note of any redemption and settlement costs and expenses in respect of the Charged Assets; less the pro rata share in respect of one Note of any fees, costs or expenses owing to the Trustee and the Agents in connection with the Notes; and less the pro rata share in respect of one Note of any fees payable to the Arranger and Portfolio Manager pursuant to the Conditions of the Notes. funds are available from the Mortgaged Property and the proceeds thereof. If the Mortgaged Property is insufficient to pay any amounts due in respect of the Notes, the Issuer will have no other assets available to meet such insufficiency. In the event that Charged Assets are sold or realised or the Security is enforced and after payment of all other claims with a senior priority in the relevant order of priority the remaining proceeds of such sale, realisation or enforcement are insufficient to pay in full all amounts whatsoever due in respect of the Notes, then the Noteholders' claims against the Issuer in respect of the Notes shall be limited to their respective shares of such remaining proceeds and, after payment to each Noteholder of its respective share of such remaining proceeds, the obligations of the Issuer to such Noteholder shall cease to be due and shall be extinguished.
Distribution Net Proceeds means an amount determined by the Calculation Agent being the pro rata share of the Distribution Proceeds of the Charged Assets in respect of one Note; less the pro rata share in respect of one Note of any redemption and settlement costs and expenses in respect of the Charged Assets; less the pro rata share in respect of one Note of any fees, costs or expenses owing to the Trustee and the Agents in connection with the Notes; and less the pro rata share in respect of one Note of any fees payable to the Arranger and Portfolio Manager pursuant to the Conditions of the Notes.
Examples of Distribution Net Proceeds in a sentence
Notwithstanding any other provision of this Agreement, distributions of Cash Available for Distribution, Net Proceeds of Refinancing and Net Proceeds of Sale or Other Disposition for any year shall be made to each PARTNER on or before April 15 of the following year of amounts which are not less than the result obtained by multiplying the Tax Rate (as hereinafter defined) by the estimated taxable Net Income and Gain of the PARTNERSHIP allocable to such PARTNER under Section 6.2 for such year.
More Definitions of Distribution Net Proceeds
Distribution Net Proceeds means an amount determined by the Calculation Agent being the pro rata share of the Distribution Proceeds of the Charged Assets in respect of one Note; less any redemption and settlement costs and expenses in respect of the Charged Assets; less any fees, costs or expenses owing to the Trustee and the Agents in connection with the Notes; and less any fees payable to the Arranger.