Priority Distribution definition

Priority Distribution means, with respect to any Member for any period commencing on or after the Effective Date, an amount equal to the product of (i) LIBOR plus 200 basis points per annum (the “Priority Rate”) and (ii) the sum of the average daily Preference Amount of each Member for such period and the amount of any unpaid Priority Distributions of such Member on the first day of such period.

Priority Distribution means a hypothetical amount determined solely for purposes of the alternative fee schedule calculation to determine the Asset Management Fee Limit under the provisions of Section 8.3 of the Operating Agreement. Such amount will equal, for any calendar year or other period with respect to the Units held by any Person, the average Adjusted Invested Capital with respect to such Units during such period multiplied by 10% per annum (calculated on a cumulative basis, compounded daily, from the last day of the calendar quarter in which the capital contribution of the initial purchaser of such Units was received by the Fund and pro rated for any fraction of a calendar year for which such calculation is made).

Priority Distribution the amounts set forth on Schedule 1 to the Partnership Agreement, Schedule 4 to the Participation Agreement and Schedule 2 to the Trust Agreement, which under any circumstances and in any event, will be an amount at least sufficient to pay in full as of the date of payment thereof, the principal amount of and interest on the Notes due on such date.

Examples of Priority Distribution in a sentence

• If any Distribution on a Secured Claim or Priority Claim (“Secured or Priority Distribution”) is tendered by Debtor to a Holder of a Secured Claim or Priority Claim and returned as undeliverable, refused or otherwise returned (“Secured or Priority Distribution Refusal”), the Holder of such Secured Claim or Priority Claim, as applicable, shall be deemed to have waived its right to such tendered payment or Distribution and such tendered payment or Distribution shall be deemed satisfied.

• The Tolling Period shall: (i) extend the term of the payments on such Secured Claim or Priority Claim and (ii) bar any interest from accruing on the Secured Claim or Priority Claim until such time as any dispute regarding the Secured or Priority Distribution Refusal shall be resolved by a final order of the court.

• The Tolling Period shall: (i) extend the term of the payments on such Secured Claim or Priority Claim and (ii) bar any interest from accruing on the Secured Claim or Priority Claim until such time as any dispute regarding the Secured or Priority Distribution Refusal shall be resolved by Final Order.

• Intangible assets, deferred tax assets and the unrealized loss on investments carried as available for sale (AFS) are deducted from Tier 1 capital.

• If any Distribution on a Secured Claim or Priority Claim (“Secured or Priority Distribution”) is tendered by Debtor to a Holder of a Secured Claim or Priority Claim and returned, refused or otherwise improperly returned (“Secured or Priority Distribution Refusal”), the Holder of such Secured Claim or Priority Claim, as applicable, shall be deemed to have waived its right to such tendered payment or Distribution and such tendered payment or Distribution shall be deemed satisfied.

More Definitions of Priority Distribution

Priority Distribution has the meaning specified in Section 5.2.

Priority Distribution. As defined in Section 8.1(a)(v). ---------------------

Priority Distribution for any calendar year or other period shall mean, with respect to the Units held by any Person, the average Adjusted Invested Capital with respect to such Units during such period multiplied by 10% per annum (calculated on a cumulative basis, compounded daily, from the last day of the calendar quarter in which the capital contribution of the initial purchaser of such Units was received by the Fund and pro rated for any fraction of a calendar year for which such calculation is made).

Priority Distribution has the meaning set out in Section 3.5(c).

Priority Distribution has the meaning ascribed to that term in Section 7.1(e).

Priority Distribution the amounts to be paid (but not allocated) in accordance with Schedule 1 to the Partnership Agreement, Schedule 4 to the Participation Agreement and Schedule 2 to the Trust Agreement, which under any circumstances and in any event, will be an amount at least sufficient to pay in full as of the date of payment thereof, the principal amount of and interest on the Notes due on such date, including, without limitation, interest on the Notes at the New Debt Rate from and after the ET Date.

Priority Distribution means the distribution of the Priority Return to the Enterprise Member pursuant to Section 8.2(b) hereof.