Wrongful Distribution definition

Wrongful Distribution means, in the event that Brookdale Rent Payments are due and owing and have not been made as required hereunder, the distribution of all or any portion of Total Revenues by BLC Holdings or any Brookdale Lessee to the Parent of BLC Holdings or any Affiliate (other than BLC Holdings) thereof that results in inadequate monies being available to make the Brookdale Rent Payments to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to BLC Holdings' Parent or any Related Party thereto (other than to BLC Holdings, PSLT-BLC Holdings or PSLT-BLC Holdings' Affiliates) should be made unless all Brookdale Rent Payments due hereunder are current).
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Wrongful Distribution means, in the event that Alterra Rent Payments are due and owing and have not been made as required hereunder, the distribution of all or any portion of Total Revenues by ALS Holdings or any Alterra Lessee to the Parent of ALS Holdings or any Affiliate (other than ALS Holdings) thereof that results in inadequate monies being available to make the Alterra Rent Payments, to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to ALS Holdings' Parent or any Related Party thereto (other than to ALS Holdings, PSLT-ALS Holdings or PSLT-ALS Holdings' Affiliates) should be made unless all Alterra Rent Payments due hereunder are current).
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Wrongful Distribution means, in the event that SCT Rent Payments are due and owing and have not been made, as required hereunder or under the Property Leases, the distribution of all or any portion of Operating Revenues by SCT Holdings or any SCT Lessee to SC OpCo or any Affiliate (other than SCT Holdings) thereof that results in inadequate monies being available to make the SCT Rent Payments to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to SC OpCo or any Affiliate thereof (other than to SCT Holdings, Ventas Holdings or Ventas Holdings’ Affiliates) should be made unless all SCT Rent Payments due hereunder and under the Property Leases are current).
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Examples of Wrongful Distribution in a sentence

  • SeniorTrust’s Claims include: • Breach of Fiduciary Duty/Fraud • Wrongful Distribution • Conflict-of-Interest Transaction • Conversion • Unjust Enrichment • Punitive Damages NHI’s Counterclaims: • NHI’s counterclaim seeks to have the proceeds from any sale applied to its secured debt NHC’s Counterclaim: • Breach of Contract Additionally, Missouri Healthcare Advisors, LLC and Kansas Healthcare Advisors, LLC intervened in the case.

  • In addition, if the Village is found to have made a payment to a private developer in contravention to the agreements set forth herein, the Village shall reimburse the Malta TIF fund an amount equal to all such wrongful payments made (collectively, the “Wrongful Distribution”) and the Wrongful Distribution amount shall be distributed as a surplus from the Malta TIF to the affected taxing bodies consistent with the provisions of the TIF Act.


More Definitions of Wrongful Distribution

Wrongful Distribution means, in the event that Brookdale Rent Payments are due and owing and have not been made as required hereunder, the distribution of all or any portion of Total Revenues by Brookdale or any Brookdale Lessee to the Parent of Brookdale or any Affiliate (other than Brookdale) thereof that results in inadequate monies being available to make the Brookdale Rent Payments required hereunder, to the extent of any such shortfall on a cumulative basis (it being the intent of the parties that no such distribution to Brookdale's Parent or any Related Party thereto (other than to Brookdale, Capstead or Capstead's Affiliates) should be made unless all Brookdale Rent Payments due hereunder are current).
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