Distribution Payable definition

Distribution Payable shall have the meaning set forth in Section 9.4.
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Examples of Distribution Payable in a sentence

  • To the extent that on the first anniversary of the Closing Date the sum of the Distribution Payable and the Credit Amount exceeds any amounts Buyer owes to Seller under Section 5.9, Buyer may at its option set off any such excess amount (the "Setoff Amount") against the Purchase Note (as hereinafter described) or require Seller to pay in cash, such excess amount.

  • The parties agree that $606,968 is due under the Distribution Agreement as of the date hereof and that the sum of such amount and any amounts due from Seller to Buyer pursuant to the Distribution Agreement which are incurred between the date hereof and the Closing, (such sum the "Distribution Payable") shall not be due and payable until the first anniversary of the Closing Date notwithstanding anything to the contrary in the Distribution Agreement.

  • The Buyer or the Seller, as applicable, shall make a reimbursement payment to the other in an amount necessary to allocate the financial responsibility for such payment as set forth above, on the one (1) year anniversary date of the Closing Date; provided, however, that if the Buyer owes a reimbursement payment to the Seller under this Section 5.9(b), the Buyer may set such reimbursement payment off against the Distribution Payable and the Credit Amount pursuant to Section 9.4 hereof.

  • Further, for the purpose of calculating the Net Book Value of the Purchased Assets on any given date, the line item for "Distribution Payable" shall not exceed $340,492.33.

  • The Distribution Payable as Provision for Income Taxes described on Seller's financial statements, and any obligation relating thereto.

Related to Distribution Payable

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Distribution Fee means a percentage of MRP of each of the Subscribed Channels payable by SDSPL to the Licensee towards fee for distribution of each of the Subscribed Channels as more specifically specified in Annexure B and Annexure B-1 of this Agreement.

  • Distribution box means a watertight component that receives effluent from a septic tank or other treatment unit and distributes effluent via gravity in approximately equal portions to two or more distribution laterals in the soil treatment area.

  • Residual Distribution Amount For any Distribution Date, with respect to the Class R-1 Residual Interest, any portion of the REMIC I Available Distribution Amount for Loan Group 1 and Loan Group 2 remaining after all distributions of the REMIC I Available Distribution Amount pursuant to clauses (a), (b) and (c) (other than the last subclause of clause (c)) of the definition of “REMIC I Distribution Amount”. For any Distribution Date, with respect to the Class R-2 Residual Interest, any portion of the REMIC II Available Distribution Amount remaining after all distributions of the REMIC II Available Distribution Amount pursuant to the definition of “REMIC II Distribution Amount” (other than the distribution pursuant to the last clause thereof). For any Distribution Date, with respect to the Class R-3 Residual Interest and for Loan Group 1 and Loan Group 2, any portion of the REMIC III Available Distribution Amount for Loan Group 1 and Loan Group 2, respectively, remaining after all distributions of such REMIC III Available Distribution Amount pursuant to clauses (I)(A), (I)(B), (I)(C), (II)(A) and (II)(B), as applicable, of the definition of “REMIC III Distribution Amount” (other than the distributions pursuant to the last subclause of clauses (I)(C), (II)(A) and (II)(B)). Upon termination of the obligations created by this Agreement and liquidation of REMIC I, REMIC II and REMIC III, the amounts which remain on deposit in the Certificate Account after payment to the Holders of the REMIC III Regular Interests of the amounts set forth in Section 9.01 of this Agreement, and subject to the conditions set forth therein, shall be distributed to the Class R-1, Class R-2 and Class R-3 Residual Interests in accordance with the preceding sentences of this definition as if the date of such distribution were a Distribution Date.

  • Accrual Distribution Amount With respect to any Distribution Date on or prior to the Accretion Termination Date, an amount equal to the amount of the Accrued Certificate Interest on the Accrual Certificates that is added to the Certificate Principal Balance thereof on such Distribution Date pursuant to Section 4.02(h).