Mandatory Obligation definition

Mandatory Obligation means with respect to a Series the sum of (i) the amount of a Member’s remaining contribution obligation with respect to such Series (including the amount of any Capital Account deficit such Member is obligated to restore upon liquidation) provided that such contribution must be made in all events within ninety (90) days of liquidation of the Member’s interest with respect to such Series as determined under Treasury Regulation Section 1.704-l(b)(2)(ii)(g) and (ii) the additional amount, if any, such Member would be obligated to contribute with respect to such Series as of year end to retire recourse indebtedness of the Company associated with such Series if the Company were to liquidate as of such date and dispose of all of the assets of such Series at book value.
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Mandatory Obligation means the sum of (i) the amount of a Member's remaining contribution obligation (including the amount of any Capital Account deficit such Member is obligated to restore upon liquidation) provided that such contribution must be made in all events within ninety (90) days of liquidation of the Member's interest as determined under Treasury Regulation Section 1.704-1(b)(2)(ii)(g) and (ii) the additional amount, if any, such Member would be obligated to contribute as of year end to retire recourse indebtedness of the Company if the Company were to liquidate as of such date and dispose of all of its assets at book value.
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Mandatory Obligation means the sum of (i) the amount of a Member's remaining contribution obligation, if any, (including the amount of any Capital Account deficit such Member is obligated to restore upon the liquidation of the Company, if any) provided that such contribution must be made in all events within ninety (90) days of liquidation of the Member's interest as determined under Treasury Regulation Section 1.704-1(b)(2)(ii)(g), and (ii) the additional amount, if any, such Member would be obligated to contribute as of year end to retire indebtedness of the Company if the Company were to liquidate as of such date and dispose of all of its assets at book value.
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Examples of Mandatory Obligation in a sentence

  • This disclosure shall in no way diminish the obligations of the parties under this Agreement except to the extent that a Party is compelled by any Mandatory Obligation to disclose Confidential Information without restriction.

  • To the extent permitted by any Mandatory Obligation, the Receiving Party shall notify the other Party without delay in writing as soon as it becomes aware of an enquiry or any process of any description that is likely to require disclosure of the other Party’s Confidential Information in order to comply with any Mandatory Obligation.

  • Lessor shall have ten (10) business days after the provision of store level operating statements for the fifth Lease Year within which to exercise this Mandatory Obligation to Purchase, if Lessee shall have failed the Store Level Net Income Test.

  • This disclosure shall in no way diminish the obligations of the Supplier under this Agreement except to the extent that Supplier is compelled by any Mandatory Obligation to disclose Confidential Information without restriction.

  • Mandatory Obligation - A Party is permitted to Disclose Public Health Information to the Party’s Service Providers for the purpose(s) of carrying out a Public Health Purpose.

  • To the extent permitted by any Mandatory Obligation, the Supplier shall notify VETIMEC without delay in writing as soon as it becomes aware of an enquiry or any process of any description that is likely to require disclosure of Confidential Information in order to comply with any Mandatory Obligation.

  • To the extent permitted by any Mandatory Obligation, the Receiving Party shall notify the disclosing party without delay in writing as soon as it becomes aware of an enquiry or any process of any description that is likely to require disclosure of Selcom’s Confidential Information in order to comply with any Mandatory Obligation.

  • This disclosure shall in no way diminish the obligations of the Parties under this Agreement except to the extent that a Party is compelled by any Mandatory Obligation to disclose Confidential Information without restriction.

  • This disclosure shall in no way diminish the obligations of the Parties under this Agreement except to the extent that a Party is compelled by any Mandatory Obligation to disclosure Confidential Information without restriction.

  • To the extent permitted by any Mandatory Obligation, the Receiving Party shall notify the other Party without delay in writing as soon as it becomes aware of an enquiry or any process of any description that is likely to require disclosure of the other Party´s Confidential Information in order to comply with any Mandatory Obligation.


More Definitions of Mandatory Obligation

Mandatory Obligation means an agreement by an Obligor as set forth in a Contract which requires the Obligor to make fixed payments for monitoring services for a Mandatory Period.
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Mandatory Obligation means the sum of (i) the amount of a Member's re contribution obligation (including the amount of any Capital Account deficit such Member is obligated to restore upon liquidation) provided that such contribution must be made in all events within ninety (90) days of liquidation of the Member's interest as determined under Treasury Regulation Section 1.704- 1(b)(2)(ii)(g) and (ii) the additional amount, if any, such Member would be obligated to contribute as of year end to retire` recourse indebtedness of the Company if the Company were to liquidate as of such date and dispose of all of its assets at book value. 1.22 "Member(s)" means those persons who execute a counterpart of this Agreement and those persons who are hereafter admitted as members under Section 14.4 below. 1.23 "Minimum Gain" means the amount determined by computing, with respect to each non- recourse liability of the Company, the amount of gain, if any, that would be realized by the Company if it disposed of the Company Property subject to such non-recourse liability in full satisfaction thereof in a taxable transaction and then by aggregating the amounts so determined. Such gain shall be determined in accordance with Treasury Regulation Section 1.704-2
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Related to Mandatory Obligation

  • Monetary Obligations means Rent and all other sums payable by Tenant under this Lease to Landlord, to any third party on behalf of Landlord or to any Indemnitee.

  • Secondary Obligations means all Obligations other than Primary Obligations.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Primary Obligations shall have the meaning provided in Section 7.4(b) of this Agreement.

  • Delivery Obligation In lieu of the obligations set forth in Sections 8.1 and 9.1 of the Equity Definitions, and subject to “Notice of Exercise” above and “Discretionary Adjustments” and “Consequences of Merger Events” below, in respect of an Exercise Date, Dealer will deliver to Counterparty on the related Settlement Date (the “Delivery Obligation”), (i) a number of Shares equal to the product of the Applicable Percentage and the aggregate number of Shares, if any, that Counterparty would be obligated to deliver to the holder(s) of the Relevant Convertible Securities for such Conversion Date pursuant to Section 4.02(a)(ii)(A) or 4.02(a)(ii)(C) of the Indenture (rounded down to the nearest whole number) and cash in lieu of any fractional Share resulting from such rounding and/or (ii) the product of the Applicable Percentage and the aggregate amount of cash, if any, in excess of the principal amount of the Relevant Convertible Securities that Counterparty would be obligated to deliver to holder(s) of the Relevant Convertible Securities for such Conversion Date pursuant to Section 4.02(a)(ii)(B) or 4.02(a)(ii)(C) of the Indenture, determined, for each of clauses (i) and (ii), by the Calculation Agent (by reference to such Sections of the Indenture) as if Counterparty had elected to satisfy its conversion obligation in respect of such Relevant Convertible Securities by the Applicable Settlement Method, notwithstanding any different actual election by Counterparty with respect to the settlement of such Relevant Convertible Securities; provided that the Delivery Obligation shall be determined excluding any Shares and/or cash that Counterparty is obligated to deliver to holder(s) of the Relevant Convertible Securities as a direct or indirect result of any adjustments to the Conversion Rate pursuant to a Discretionary Adjustment and any interest payment that Counterparty is (or would have been) obligated to deliver to holder(s) of the Relevant Convertible Securities for such Conversion Date. Notwithstanding the foregoing, if, in respect of any Exercise Date, (x)(I) the number of Shares included in the Delivery Obligation multiplied by the Share Obligation Value Price plus (II) the amount of cash included in the Delivery Obligation, would otherwise exceed (y) the product of the Applicable Percentage and the relevant Net Convertible Share Obligation Value, such number of Shares and such amount of cash shall be proportionately reduced to the extent necessary to eliminate such excess.