MIU Distribution definition
MIU Distribution means the distribution of cash and securities to certain holders of “Management Incentive Units” (as defined in that certain Limited Liability Company Agreement of the Borrower dated as of April 3, 2013) funded through a capital call from the Borrower’s equity holders as of the date of such distribution as further described in, and permitted pursuant to, that certain Amendment No. 3 and Agreement dated as of September 30, 2016 with respect to the Existing Credit Agreement.
Examples of MIU Distribution in a sentence
Notwithstanding any other provision of the Credit Agreement and solely with respect to the calculation of EBITDAX for the fiscal quarter ending June 30, 2016, the Lenders and the Administrative Agent hereby consent to the Borrower’s treatment of the MIU Distribution as a one-time cash charge to be added to Net Income for purposes of calculating EBITDAX for the fiscal quarter ending June 30, 2016.
For the avoidance of doubt, the increase in EBITDAX resulting from the treatment of the MIU Distribution effected by this Section 3 shall be deemed an increase in EBITDAX for any four fiscal quarter period that includes the fiscal quarter ending June 30, 2016.