Third Tier Distribution definition
Third Tier Distribution means the number of shares of Purchaser Common Stock equal to the lesser of (i) (A) the Series B Liquidation Preference less the Series A Liquidation Preference, divided by (B) the Purchaser Share Price or (ii) (A) the Total Merger Shares less the sum of the Total First Tier Distribution and the Total Second Tier Distribution, divided by (B) the Total Company Stock Number less the Total Series A Preferred Number.
Examples of Third Tier Distribution in a sentence
In no event shall any Third Tier Distribution be made unless there is undistributed profit in the amount of such Third Tier Distribution after deduction of First Tier Distributions through that time.
IOC-Tunica may reserve any amount for capital expenditures at the Tunica Facility (provided, however, that such reserved amounts shall accumulate and be held by IOC-Tunica as cash, to be spent on capital improvements or distributed as a Third Tier Distribution); and .
In no event shall any Third tier Distribution be made unless there is undistributed profit in the amount of such Third Tier Distribution after deduction of First Tier Distributions through that time.