Subsidiary Payment definition
Examples of Subsidiary Payment in a sentence
The amount of all or any portion of a Ltd Exchanging Subsidiary Payment not made to the Trust when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Agreed Rate and commencing from the date on which such Ltd Exchanging Subsidiary Payment was due and payable.
The amount of all or any portion of a Ltd Exchanging Subsidiary Payment not made to LFCM when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Agreed Rate and commencing from the date on which such Ltd Exchanging Subsidiary Payment was due and payable.
If any such letters of credit expire without having been drawn upon in full, amounts held in the Special Trust Account with respect to the undrawn portion of such letters of credit, together with the interest accrued thereon, shall be treated as a Subsidiary Payment and shared in the manner provided in Section 2.1 hereof.
After the Effective Date, as Motorola receives cash (in U.S. dollars) from the Subsidiary in connection with the Capital Reduction, Motorola will contribute an amount equal to 50% of such cash to SpinCo within 10 Business Days of such receipt in an aggregate amount not to exceed $300 million (such figure to be reduced by the 2010 Subsidiary Payment, if any).
No new Subsidiary Payment Blockage Notice may be delivered unless and until 360 days have elapsed since the delivery of the immediately prior Subsidiary Payment Blockage Notice.
No Subsidiary nonpayment default that existed or was continuing on the date of delivery of any Subsidiary Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Subsidiary Payment Blockage Notice unless such default has been cured or waived for a period of not less than 90 days.
Limitation on Subsidiary Payment Restrictions......................................................
Each Creditor hereby agrees with each other Creditor that payments (including payments made through setoff of deposit balances or otherwise or payments or recoveries from any security interest granted to any Creditor) made by any Subsidiary Guarantor pursuant to the terms of any Subsidiary Guaranty (a "Subsidiary Payment"), shall be shared so that each Creditor shall receive its Pro Rata Share of all Subsidiary Payments.
If and to the extent such Letter of Credit expires or terminates (or the Maximum Available Amount thereof is otherwise reduced), the amount of cash held as collateral therefor shall be considered a new Subsidiary Payment and shall be shared in accordance with the provisions of this Section 2.
If any such letters of credit expire without having been drawn upon in full, amounts held in the Special Account with respect to the undrawn portion of such letters of credit, together with the interest accrued thereon, shall be treated as a Subsidiary Payment and shared in the manner provided in Section 2.1.