PAS Dividend definition

PAS Dividend means any dividend or right to distribution (other than any dividend of distribution pursuant to Section 4.3.9) declared by PAS on or prior to the Closing Date and payable promptly following the Closing, in an amount not to exceed the CUFIN account of PAS at the time the dividend is declared, such amount to be paid in Mexican pesos for the benefit of the holders of PAS equity interests, as recorded on the PAS books and records as of the date such dividend is declared; provided that the amount of the PAS Dividend shall not exceed $5,100,000. For the avoidance of doubt, any distribution or dividend of the Protego Distribution Amount shall not be included as a PAS Dividend.
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Examples of PAS Dividend in a sentence

  • Upon receipt of such funds, the Partnership shall pay (i) an amount in cash equal to Nine Hundred Fifty Thousand Dollars ($950,000) to the Protego Founder in repayment of one of the Protego Partners Notes and (ii) an amount in cash equal to Five Million One Hundred Thousand Dollars ($5,100,000), less the amount of the PAS Dividend, to the Protego Partners in accordance with Annex E in repayment of the other Protego Partners Note.

  • In addition, upon receipt of such funds, the Partnership shall contribute to the capital of PAS an amount of cash equal to the PAS Dividend to fund the payment of the PAS Dividend.

  • PAS shall thereafter pay the PAS Dividend to the Protego Founder and the Existing Protego Service Partners.