Preferred Payments definition
Examples of Preferred Payments in a sentence
As an accommodation to Borrower and Operating Partnership, because it is not possible as a practical matter to cause partial payments of the Trust Preferred Payments, Operating Partnership shall be permitted to receive a portion of the Trust Preferred Payments based on its OP Interest, but shall hold such amounts in trust for Lender, and Borrower shall cause Operating Partnership to immediately upon receipt thereof deposit any such amounts back into the Cash Management Account.
As calculated as of the last day of each fiscal ----------------- quarter of Borrower, Borrower shall not permit its Tangible Net Worth to be less than $8,500,000, plus (b) an amount equal to the greater of zero (0) and fifty percent (50%) of Borrower's consolidated net earnings, minus Tax Distributions and Preferred Payments made by Borrower pursuant to Section 4.1(b) of the Operating Agreement.
Coaxial will immediately use all proceeds received from Insight Ohio as Preferred Payments in respect of the Series B Preferred Interests to pay a dividend in like amount to Coaxial LLC, Coaxial DJM LLC and Coaxial DSM LLC.
During the Liquidation Period, the Trinity Members shall continue to share Profits, Losses and other items of Trinity income, gain, loss or deduction in the manner provided in Section 6 and Preferred Payments, Distributions and other payments shall continue to be made as set forth in Section 7.
The Company shall make all payments and prepayments in respect of its Loan Obligations ratably to all Lenders entitled to the respective category of payment; provided that the Parties acknowledge that (i) the Lenders have different entitlements to different categories of Preferred Payments and (ii) only the Lenders on the New Notes have a lien on the Separate New Notes Collateral.
The Issuers will cause Coaxial to immediately use all proceeds received from Insight Ohio as Preferred Payments in respect of the Series B Preferred Interests to pay a dividend in like amount to Coaxial LLC, Coaxial DJM LLC and Coaxial DSM LLC.
Except for Permitted Preferred Payments, make or permit any other Borrower to, directly or indirectly (i) declare, order, pay or make any Restricted Payment or (ii) set aside any sum or property therefor or exercise any set-off or similar rights of any Borrower, if any, with respect to any indebtedness that is the subject of an intercreditor and subordination agreement.
The RSI Asset Management Fee will initially be a priority payment before certain distributions by the Fund to the Company, but up to $1.5 million annually will be subordinated (to the extent of an amount equal to the annual excess of (x) total Fund general and administrative expenses, plus the RSI Asset Management Fee, over (y) $5.0 million) to the prior payment of the Fund Preferred Payments.
Make any Restricted Payment other than (a) Tax Distributions and (b) provided that no Event of Default has occurred and is continuing or would result after giving affect to such payments, Preferred Payments.
The Trinity Class A Member shall instruct the Trinity Custodian to make all payments to be made on behalf of Trinity, including all payments in respect of Preferred Payments, Additional Financing Costs, Transaction Costs, Disposition Costs and other Trinity Expenses in accordance with the Trinity Custody Agreement.