Distributable Funds definition

Distributable Funds with respect to any month or other period, as applicable, shall mean an amount equal to the Cash Flow of the Company for such month or other period, as applicable, as reduced by reserves for anticipated capital expenditures, future working capital needs and operating expenses, contingent obligations and other purposes of the Company or any Subsidiary, the amounts of which shall be reasonably determined from time to time by the Management Committee.

Distributable Funds means the available cash of the Company in excess of the working capital and other requirements of the Company as determined by the Board of Managers.

Distributable Funds means, in respect of a particular financial year, the aggregate amount, as calculated as of the end of the immediately preceding financial year of the Bank, of the profit and any accumulated retained earnings and any other reserves and surpluses of each member of the Group available for distribution in such particular financial year as cash dividends to ordinary shareholders of the Bank under the companies laws of, and accounting standards applicable in, Greece; but before deduction of the amount of any dividend or other distribution declared on the Bank’s ordinary share capital in respect of such particular financial year;

Examples of Distributable Funds in a sentence

• These proceeds are summarised above in Table 2 (Distributable Funds).

• If, and to the extent that Available Distributable Funds (utdelningsbara medel) are not available and the Bank makes partial payment of, or does not pay, accrued interest, the right of Noteholders to receive accrued but unpaid interest in respect of any such Interest Period will be lost.

• If, and to the extent that Available Distributable Funds are insufficient or non-existent and the Issuer makes partial payment of, or does not pay, accrued but unpaid interest as aforesaid, the right of the Holders of Notes to receive accrued but unpaid interest in respect of the relevant Interest Period (such expression to include a ‘‘Fixed Interest Period’’) will be lost.

• Any amount of interest not paid by the Bank as a result of such election will be lost.Payments of interest in any fiscal year (for the purposes of this Condition 6(g)(iii), the “relevant year”) are limited to, and may not exceed, the accumulated Available Distributable Funds (utdelningsbara medel) of the Bank as of the end of the preceding fiscal year (for the purposes of this Condition 6(g)(iii), the “relevant Available Distributable Funds”).

• Payments of interest on any Interest Payment Date may not exceed the Available Distributable Funds of the Issuer.

More Definitions of Distributable Funds

Distributable Funds shall have the meaning set forth in Section 4.1.

Distributable Funds as used herein, means the amount (if any), on any date, of cash collected on behalf of the Venture either from the collection, sale or other disposition of Contract Assets less reasonable reserves, current expenses and expenses incurred but not yet disbursed.

Distributable Funds. (as hereinafter defined) of the Joint Venture from time to time on hand shall be distributed as follows:

Distributable Funds means the available cash of the Company in excess of the Liquidity Reserve and other requirements of the Company (including, without limitation, current obligations under agreements evidencing Debt, which shall include the Credit Agreement), as determined by the Board acting with Super-Majority Board Approval.

Distributable Funds means, with respect to any Payment Date, an amount equal to the sum of (i) the Available Funds for the related Monthly Period, plus (ii) the amount of funds deposited into the Collection Account pursuant to Section 3.2 since the prior Payment Date.

Distributable Funds of the Partnership shall mean the excess from time to time of (A) the total of (i) cash held by the Partnership, including without limitation, cash proceeds derived from operations ("Operating Revenues"), plus (ii) net proceeds received from any sale or refinancing of all or a portion of property, proceeds of casualty insurance and condemnation awards not currently required for rebuilding, restoration, repair or operation ("Sale Proceeds"), less (B) the working capital requirements of the Partnership (as determined by the General Partner) and such reserves as may be established by the General Partner from time to time.

Distributable Funds means, in respect of each fiscal year of the Issuer, the aggregate amount, as calculated as at the end of the immediately preceding fiscal year, of accumulated retained earnings and surpluses after allocations from and to reserves (balance sheet profit; Bilanzgewinn) of the Issuer capable under the companies laws of Austria of being available for distribution to holders of Bank Share Capital, but before deduction of the amount of any dividend or other distribution declared on Bank Share Capital in respect of such prior fiscal year.