PLC Distribution definition

PLC Distribution means the distribution by the Borrower to the ---------------- Parent and by the Parent to Holdings on or prior to the Effective Date of all of the ownership interests theretofore held by the Borrower in the PLC Group.
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Examples of PLC Distribution in a sentence

  • Other than the PLC Distribution, each aspect of the Recapitalization, including the issuance of the Securities hereunder, shall occur concurrently.

  • On or prior to the Closing Date, Group shall have completed the PLC Distribution in the manner contemplated in the Offering Memorandum.

  • Each of ASLP, Holdings, each of the Companies and each Guarantor is, and after giving effect to (i) the sale of the Securities, (ii) the borrowings under the New Senior Credit Agreement as contemplated in the Offering Memorandum, (iii) the PLC Distribution and (iv) the Recapitalization and the application of the proceeds therefrom will be, Solvent.

  • In connection with the Recapitalization and before the issuance of the Securities, the Company shall effect the distribution to Holdings (the "PLC Distribution") of all of the ownership interests then held by the Company in Pacific Longline Company ("PLC") and its subsidiaries Deep Pacific LLC., ▇▇▇▇▇ ▇▇▇ LLC and North Cape Fisheries LLC, each a Washington limited liability company (collectively with PLC, the "PLC Group").

Related to PLC Distribution

  • Clause C Distribution shall have the meaning specified in Section 14.04(c).

  • Permitted RIC Distribution means distributions by each Borrower and its Subsidiaries (from the Collateral Accounts or otherwise) to the extent required to allow GCDLC to make sufficient distributions to qualify as a regulated investment company and to otherwise eliminate federal or state income or excise taxes payable by such Initial Borrower in or with respect to any taxable year of such Initial Borrower (or any calendar year, as relevant); provided that (A) the amount of any such payments made in or with respect to any such taxable year (or calendar year, as relevant) of such Initial Borrower shall not exceed 115% of the amounts that the Subsidiaries of such Initial Borrower would have been required to distribute to such Initial Borrower to: (i) allow such Initial Borrower to satisfy the minimum distribution requirements that would be imposed by Section 852(a) of the Code (or any successor thereto) to maintain its eligibility to be taxed as a regulated investment company for any such taxable year, (ii) reduce to zero for any such taxable year such Initial Borrower’s liability for federal income taxes imposed on (x) its investment company taxable income pursuant to Section 852(b)(1) of the Code (or any successor thereto) or (y) its net capital gain pursuant to Section 852(b)(3) of the Code (or any successor thereto), and (iii) reduce to zero such Initial Borrower’s liability for federal excise taxes for any such calendar year imposed pursuant to Section 4982 of the Code (or any successor thereto), in the case of each of (i), (ii) or (iii), calculated assuming that such Initial Borrower had qualified to be taxed as a RIC under the Code, and (B) after the occurrence and during the continuance of an Event of Default or a Default related to Section 10.1(a) or Section 10.1(i), all such distributions shall be prohibited, and only so long as (x) any Overadvance is cured immediately prior to and no Overadvance will exist after giving effect to such Permitted RIC Distribution (unless otherwise consented to by Administrative Agent in its sole discretion) and (y) such Initial Borrower delivers a RIC Distribution Notice to Administrative Agent at least ten (10) days prior to the applicable Distribution.

  • Periodic Distribution Date means the first Business Day that is as soon as reasonably practicable occurring approximately ninety (90) days after the immediately preceding Periodic Distribution Date.

  • Final Distribution means any distribution made in redemption of all or a portion of the Up-MACRO Holding Shares pursuant to Section 5.2(a) or 5.2(c) on the Final Scheduled Termination Date, an Early Termination Date or a Redemption Date.

  • Capital Distribution means, with respect to any Person, a payment made, liability incurred or other consideration given for the purchase, acquisition, repurchase, redemption or retirement of any Equity Interest of such Person or as a dividend, return of capital or other distribution in respect of any of such Person’s Equity Interests.