Refund Distribution definition
Refund Distribution means, for any period, cash dividends or other distributions made using the proceeds of a capital reserve account of the Borrower that has been funded solely from the Net Cash Proceeds of an issuance of Equity Interests (other than Disqualified Equity Interests) of the Borrower which was on the date of funding earmarked for use for funding a Permitted Acquisition or Specified Capital Expenditure that was not consummated, provided that, for any cash dividend or other distribution to constitute a Refund Distribution, (x) the quarterly or annual Compliance Certificate, as applicable, of the Borrower must show a dollar-for-dollar reduction of such capital reserve account that correlates to such cash dividend or other distribution and (y) such cash dividend or other distribution must have been made within twelve months of the date on which the Net Cash Proceeds of the applicable issuance of Equity Interests were received. Such reserve account can be funded at any time, or a new reserve account created, at the Borrower’s discretion.
Refund Distribution means, for any period, cash dividends or other distributions made using the proceeds of a capital reserve account of the Borrower that has been funded solely from the Net Cash Proceeds of an issuance of Equity Interests (other than Disqualified Equity Interests) of the Borrower which was on the date of funding earmarked for use for funding a Permitted Acquisition or Specified Capital Expenditure that was not consummated, provided that, for any cash dividend or other distribution to constitute a Refund Distribution, (x) the quarterly or annual Compliance Certificate, as applicable, of the
Examples of Refund Distribution in a sentence
HCC Mantova shall not make any distributions or dividends following the Effective Date hereof without the prior written consent of SJMB; provided, however, that HCC Mantova shall have the right to distribute and/or dividend to any Hanover Entity or any Affiliate thereof any amounts received by HCC Mantova as a refund of the HCC Mantova Assets Taxes and Fees ("Refund Distribution or Dividend").
Refund Distribution is prescribed by Law and Regulation to the programs in the order as they are listed – Federal ▇▇▇▇▇▇▇▇ Unsubsidized Loan, Federal ▇▇▇▇▇▇▇▇ Subsidized Loan, Federal Parent PLUS Loan, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG).