Distributable Reserves means the amounts for the time being available to the Issuer for distribution as a distribution in compliance with section 297 of the Companies Ordinance (Cap. 622) of Hong Kong, as amended or modified from time to time, as at the date of the Issuer’s audited balance sheet last preceding the relevant Distribution Payment Date, and subject to the Monetary Authority’s then current capital conservation requirements as applicable to the Issuer on the relevant Distribution Payment Date (the “Available Amount”); provided that if the Issuer reasonably determines that the Available Amount as at any Distribution Determination Date is lower than the Available Amount as at the date of the Issuer’s audited balance sheet last preceding the relevant Distribution Payment Date and is insufficient to pay the Distributions and any payments due on Parity Obligations on the relevant Distribution Payment Date, then on certification by two Directors and the Auditors of such revised amount, the Distributable Reserves shall for the purposes of Distributions mean the Available Amount as set forth in such certificate.

Distributable Reserves means, at any time, the amounts for the time being available to the Company for distribution as a dividend in compliance with Section 403 of the Companies Act, Chapter 50 of Singapore (“Available Amounts”) as of the date of the Company’s latest audited balance sheet; provided that if the Board reasonably believes that the Available Amounts as of any Dividend Determination Date are lower than the Available Amounts as of the date of the Company’s latest audited balance sheet and are insufficient to pay the Dividend and for payments on Parity Obligations on the relevant Dividend Date, then two Directors of the Company shall be required to provide a certificate, on or prior to such Dividend Determination Date, to the Class E Preference Shareholders accompanied by a certificate of the Company’s auditors for the time being of the Available Amounts as of such Dividend Determination Date (which certificate of the two Directors shall be binding absent manifest error) and “Distributable Reserves” as of such Dividend Determination Date for the purposes of such Dividend shall mean the Available Amounts as set forth in such certificate.

Distributable Reserves means, in relation to an Onshore Group Member which is a WFOE, the retained earnings of such WFOE that may in accordance with any applicable PRC law and regulation and PRC GAAP be distributed to its shareholders outside of the PRC after taking into account all Taxes payable under PRC law and all statutory reserve requirements in the PRC.

Examples of Distributable Reserves in a sentence

Dividends may only be declared and paid out of Distributable Reserves.
For the avoidance of doubt, no AT1 interest will be due and payable if such AT1 interest has been cancelled or is deemed cancelled (in each case, in whole or in part) as described under Condition 5.7 (Limitation on Payment) or Condition 5.8 (Distributable Reserves).
Subject to the other provisions of this article11, the Board may resolve to make dividend or other distributions on Shares to be charged to one or several Distributable Reserves.
When Options expire, or Options holders no longer provide services to the Company, any amounts in relation to these Options which have been credited to the Share Option Reserve within Equity will be transferred to Distributable Reserves.
This Condition 5.8 applies only to Notes specified in the applicable Pricing Supplement as being AT1 Notes.The Issuer may only pay interest in respect of any AT1 Note out of the amounts for the time being available to the Issuer for distribution as a dividend in compliance with Section 131 of the Malaysian Companies Act 2016 (as amended from time to time) as shown in the Issuer's latest audited financial statements ("Distributable Reserves").

More Definitions of Distributable Reserves

Distributable Reserves means, at any time, the amounts for the time being available to the Issuer for distribution as a dividend in compliance with Section 403 of the Companies Act, Chapter 50 of Singapore, as amended or modified from time to time (“Available Amounts”) as of the date of the Issuer’s latest audited balance sheet; provided that if the Issuer reasonably believes that the Available Amounts as of any Distribution Determination Date are lower than the Available Amounts as of the date of the Issuer’s latest audited balance sheet and are insufficient to pay the Distributions and payments on Parity Obligations on the relevant Distribution Payment Date, then two directors of the Issuer will be required to provide a certificate, on or prior to such Distribution Determination Date, to the Securityholders accompanied by a certificate of the Issuer’s auditors for the time being of the Available Amounts as of such Distribution Determination Date (which certificate of the two directors will be binding absent manifest error) and “Distributable Reserves” as of such Distribution Determination Date for the purposes of such Distribution will mean the Available Amounts as set forth in such certificate.

Distributable Reserves means the distributable reserves which appear from the Issuer's latest audited annual report approved by the Issuer's shareholders in general meeting.

Distributable Reserves means, at any time, the amounts for the time being

Distributable Reserves means, with respect to any Distribution by the Corporation or P&O Princess, the total funds available to such company which it is permitted to use to pay or make such Distribution under Applicable Regulations relating to the Corporation or P&O Princess, as the case may be.

Distributable Reserves means, at any time, the amounts for the time being available tothe Company for distribution as a dividend in compliance with Section 403 of the Act (“Available Amounts”) as at the date of the Company’s latest audited balance sheet; provided that if the Board reasonably believes that the Available Amounts as at any Distributable Reserves Determination Date:

Distributable Reserves means, with respect to any Distribution by Carnival or P&O Princess, the total funds available to such company which it is permitted to use to pay or

Distributable Reserves means, with respect to any Dividend Date, the day falling fiveDetermination Date” market days prior to that Dividend Date.