Second Tier Distribution definition

Second Tier Distribution means the number of shares of Purchaser Common Stock equal to the lesser of (i) the Series A Preference Number or (ii) the quotient of (A) the Total Merger Shares less the Total First Tier Distribution, divided by (B) the Total Company Stock Number.
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Examples of Second Tier Distribution in a sentence

  • If and to the extent Net Cash Receipts after payment of First Tier Distributions are insufficient to pay such Second Tier Distributions at each such closing, such Second Tier Distribution shall not be waived and shall be paid as soon as Net Cash Receipts are sufficient after payment of First Tier Distributions.

  • When the Partnership has closed the sale of an aggregate 139 completed residences constructed on the Property, then the General Partner shall pay to the Limited Partner from Net Cash Receipts the entire amount of the Limited Partner’s capital contribution to the Partnership not previously repaid to it as a Second Tier Distribution.

  • Any amount distributed as part of any First Tier Distribution Shortfall or Second Tier Distribution Shortfall that represents only the 8% compound earnings component of the definition of either the First Tier Distribution Shortfall or Second Tier Distribution Shortfall shall be treated as a guaranteed payment pursuant to Code Section 707(c).