Restructuring Payments definition

Restructuring Payments means those cash payments made by the Borrower and its Subsidiaries for non-recurring costs and expenses arising from contracts and other commitments that the Borrower and its Subsidiaries have incurred pursuant to the Restructuring Plan, including, without limitation, lease, utility, severance, relocation, legal, accounting and property tax expenses.
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Restructuring Payments means all amounts advanced, or directly incurred and paid by the Borrower or any of its Subsidiaries (other than TMT) in connection with the TMT Restructuring, including specifically (i) the reasonable fees and costs of Brazilian restructuring counsel and financial advisors for TMT and (ii) payments of liabilities of TMT, provided that (1) no Restructuring Payments are made prior to the date that they are legally required to be paid; (2) funds of TMT are not otherwise available to make such Restructuring Payments; (3) Restructuring Payments are either (A) required to be made in order to avoid personal liability of TMT management or liability of TdB for claims against TMT, or (B) otherwise reasonably necessary for the orderly administration of the TMT Restructuring; (4) such payments or advances are structured to the fullest extent possible to permit recovery thereof by Borrower and its Subsidiaries as priority claims in the TMT Restructuring; and (5) the aggregate amount of all Restructuring Payments shall not exceed $6,500,000.
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Restructuring Payments definition is set forth in Section A above.
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Examples of Restructuring Payments in a sentence

  • The Management Restructuring Payments made to the Managers, officers and employees of the Company and Subsidiaries will be in the amount of $1,550,000, reduced by 1.69% of the Excess Purchaser Claims Amount.

  • The Purchasers are entitled to all proceeds of such sale so long as Holdings pays to Seller the Fee Restructuring Payments in respect of the applicable MSRPA Servicing Agreements as contemplated by the preceding sentence.

  • Upon not less than fifteen (15) days' advance notice to Tacoma, Cascade may in any given year during the Term prepay without penalty any one or more of the next successive Annual Restructuring Payments to become due pursuant to the Payment Schedule, and any amounts so prepaid shall be applied by Tacoma to the next successive Annual Restructuring Payment to become due and payable pursuant to the Payment Schedule.

  • Each of the Members (as defined in the Group LLC Agreement) consents to waive, and hereby waives, compliance with Section 6.4(b) of the Group LLC Agreement, solely to the extent necessary to permit the Initial Restructuring Payments and accompanying Loan increases to be made prior to the earlier of (i) January 31, 2018 and (ii) the payment of all outstanding obligations under the Leucadia Credit Agreement.

  • The payment of the Aggregate First Out Waterfall Restructuring Payments shall be made without deduction for any taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any national, state or local taxing authority, or will be grossed up by the Loan Parties for such amounts.

  • In lieu of FXCM paying to Leucadia such amounts in cash pursuant to Section 6.4(b) of the FXCM Agreement, such cash shall be retained by and loaned to FXCM and the amount thereof shall increase the principal amount of “Loans” (as defined in the Leucadia Credit Agreement) outstanding under the Leucadia Credit Agreement in an amount equal to the amount of such Initial Restructuring Payments.

  • Each of the Members consents to waive, and hereby waives, compliance with Section 6.4(b) of the Group LLC Agreement, solely to the extent necessary to permit the Additional Restructuring Payments.

  • Pursuant to Section 6.4(b) of the Group LLC Agreement, any Initial Restructuring Payments paid by Group to Holdco are Restricted Payments (as defined in the Group LLC Agreement) and therefore entitle Leucadia to receive an amount of cash approximately equal to such distribution pursuant to Section 6.4(b) of the Group LLC Agreement.

  • After payment by FXCM of all Initial Restructuring Payments, distributions of the Additional Restructuring Payments from FXCM to Holdings shall not result in any increase to the “Loans” outstanding under the Leucadia Credit Agreement.

  • In addition, the Parties hereto agree that Group shall pay an amount not to exceed an additional $2,000,000 in the aggregate to Holdco, solely to enable Holdco to pay the amount of such distributions to GLBR to enable GLBR to pay Restructuring Expenses (the “Additional Restructuring Payments” and, together with the Initial Restructuring Payments, the “Restructuring Payments”).