Distribution Trap definition

Distribution Trap shall have the meaning given to it in the Depository Agreement.
View Source
Distribution Trap shall have the meaning given to it in the Depository Agreement. [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.
View Source
Distribution Trap shall occur at any time where the Distribution Conditions are not satisfied as of the most recent Payment Date. “Distribution Trap Account” shall have the meaning given to such term in the Depository Agreement. “Dollars” shall mean U.S. dollars. “Drawing” shall mean a drawing on a Letter of Credit by the beneficiary thereof. “Drawing Payment” shall mean a payment in U.S. Dollars by the relevant Issuing Bank of all or any part of the Stated Amount in conjunction with a Drawing under any Letter of Credit. “Early Amortization Period” shall have the meaning given to such term in the Depository Agreement. “Economic Interest” shall mean the direct or indirect ownership by one Person of Capital Stock in another Person. A Person who directly holds all of the Capital Stock of another Person is understood to hold an Economic Interest of one hundred percent (100%) in such other Person. For purposes of determining the Economic Interest of one Person in another Person where there are one or more other Persons in the chain of ownership, the Economic Interest of the first Person in the second Person shall be deemed proportionately diluted by Economic Interests of less than one hundred percent (100%) held by such other Persons in the chain of ownership. For example, if Company A owns eighty percent (80%) of the Capital Stock of Company B, which in turn owns eighty percent (80%) of the partnership interests in Partnership C, which in turn owns fifty percent (50%) of the Capital Stock in Company D, then Company A would have an Economic Interest in Company D of thirty-two percent (32%). “EEA Financial Institution” shall mean (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA
View Source

Examples of Distribution Trap in a sentence

  • The calculations of the Debt Service Coverage Ratios and other information provided in respect of Debt Service Coverage Ratio Certificate hereunder shall be used in determining deposits to and releases from the Revenue Account or the Distribution Trap Account, as applicable, to the Pledgor Collections Account pursuant to the Depository Agreement.

  • The calculations of the Debt Service Coverage Ratios and other information provided in respect of Debt Service Coverage Ratio Certificate hereunder shall be used in determining deposits to and releases from the Revenue Account or the Distribution Trap Account, as applicable, pursuant to Sections 4.02(b) and 4.02(e) of the Depository Agreement.

  • On each Payment Date, the Borrower shall deposit, or cause to be deposited, in the Distribution Trap Account, all amounts required to be transferred from the Revenue Account pursuant to Section 4.02(b)(xi)(B).

  • The calculations of the Debt Service Coverage Ratios and other information provided in respect of Debt Service Coverage Ratio Certificate hereunder shall be used in determining deposits to and releases from the Collections Account or the Distribution Trap Account, as applicable, for the purposes of making any Restricted Payments by the Borrower.

  • At any time during the occurrence of any Event of Default or a Distribution Trap, the Administrative Agent may submit the latest Tax Equity Opco Model for the Tax Equity Opco, together with the exhibits or supplemental information thereto, to a model auditor selected by the Administrative Agent for its review at the sole cost and expense of the Borrower.


More Definitions of Distribution Trap

Distribution Trap means any period during which funds are required to be on deposit in the Distribution Trap Account in accordance with this Agreement.
View Source
Distribution Trap shall occur at any time where the Distribution Conditions are not satisfied as of the most recent Payment Date.
View Source

Related to Distribution Trap

  • Distribution Transaction means any distribution of equity securities of a Subsidiary of the Company to holders of Common Stock, whether by means of a spin-off, split-off, redemption, reclassification, exchange, stock dividend, share distribution, rights offering or similar transaction.

  • Distribution Time means the time at which the Distribution is effective on the Distribution Date.

  • Distribution main means the portion of any main with which a service line is, or is intended to be, immediately connected;

  • Distribution Plan means the plan hereafter approved by the MDL Court for the distribution of the Settlement Amount (net of any attorneys’ fees or costs that are awarded by the MDL Court) to Stanford Investors who have had their Claims allowed by the Receiver.

  • 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.