CASH ALLOCATION ON THE DISTRIBUTION DATE Sample Clauses

CASH ALLOCATION ON THE DISTRIBUTION DATE. Subject to the provisions of Section 2.01(b) hereof, the allocation between Company and Lakes of all cash bank balances, short-term investments and outstanding checks and drafts of Company and its Subsidiaries recorded per the books of Company and its Subsidiaries shall be in accordance with the following: (i) all deposits of cash, checks, drafts or short-term investments made to accounts, other than the Non-Mississippi Group Cash Accounts, after the close of business on the Distribution Date shall be remitted to Company; PROVIDED, HOWEVER, that any such deposits that are erroneously made to such accounts shall be redeposited to the correct accounts as promptly as possible; (ii) all deposits of cash, checks, drafts or short-term investments made to the Non-Mississippi Group Cash Accounts after the close of business on the Distribution Date shall be remitted to Lakes and/or the appropriate Non-Mississippi Subsidiary; PROVIDED, HOWEVER, that any such deposits that are erroneously made to such accounts shall be redeposited to the correct accounts as promptly as possible; (iii) all cash, other than cash allocated pursuant to Sections 2.01(b), 2.07, 2.08(i) and 2.08(ii), shall be retained by or remitted to Company and/or the appropriate Mississippi Subsidiaries.
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CASH ALLOCATION ON THE DISTRIBUTION DATE. Subject to Section 2.07(e), the allocation between Hilton and Park Place of all domestic and international cash bank balances, short-term investments and outstanding checks and drafts of Hilton and its Subsidiaries recorded per the books of Hilton and its Subsidiaries shall be in accordance with the following: (i) all deposits of cash, checks, drafts or short-term investments made to accounts, other than the Gaming Group Cash Accounts, after the close of business on the Distribution Date shall be remitted to Hilton and/or the appropriate Retained Business Subsidiary; PROVIDED, HOWEVER, that any such deposits that (1) are generated from operations of the Gaming Business shall be remitted to Park Place and/or the appropriate Gaming Subsidiary as promptly as possible and (2) are erroneously made to such accounts shall be redeposited to the correct accounts as promptly as possible; (ii) all deposits of cash, checks, drafts or short-term investments made to the Gaming Group Cash Accounts after the close of business on the Distribution Date shall be remitted to Park Place and/or the appropriate Gaming Subsidiary; PROVIDED, HOWEVER, that any such deposits that (1) are generated from operations of the Retained Business shall be remitted to Hilton and/or the appropriate Retained Business Subsidiary as promptly as possible and (2) are erroneously made to such accounts shall be redeposited to the correct accounts as promptly as possible; (iii) cash held on the Distribution Date in the ordinary course of business at Casino Hotels or other gaming facilities comprising part of the Gaming Business in an aggregate amount up to $100 million ("GAMING FIELD CASH") shall constitute assets of Park Place and/or the appropriate Gaming Subsidiaries; (iv) cash held on the Distribution Date by Park Place representing a corporate cash reserve in an aggregate amount equal to $25 million funded through a borrowing under the Park Place Credit Facility (as defined below) ("GAMING CORPORATE CASH") shall constitute assets of Park Place and/or the appropriate Gaming Subsidiaries; (v) cash held on the Distribution Date in the ordinary course of business at lodging or timeshare properties comprising part of the Retained Business in an aggregate amount up to $5 million ("LODGING FIELD CASH") shall constitute assets of Hilton and/or the appropriate Retained Business Subsidiaries; (vi) cash held on the Distribution Date by Hilton representing a corporate cash reserve in an aggregate amount equa...
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CASH ALLOCATION ON THE DISTRIBUTION DATE. As of the close of business on the Distribution Date, PEI shall retain, out of the domestic and international cash bank balances and short-term investments of PEI and its Subsidiaries recorded on the books of PEI and its Subsidiaries (the "PEI Cash"), an amount of PEI Cash equal to the PEI Initial Cash Balance, and SpinCo shall be allocated all other PEI Cash. To the extent practicable, the parties shall use their reasonable best efforts to take all necessary action to cause the cash balances of PEI and the Retained Subsidiaries immediately prior to consummation of the Distribution to equal the PEI Initial Cash Balance. In the event the actual cash balances of PEI and the Retained Subsidiaries as of the Distribution are less than the PEI Initial Cash Balance, the amount of the deficiency shall be recorded in the accounts of PEI and SpinCo as of the Distribution Date as a payable from SpinCo to PEI (which payable will be paid as promptly as practicable following the Distribution); and in the event the actual cash balances of PEI and the Retained Subsidiaries as of the Distribution Date exceed the PEI Initial Cash Balance, the amount of such excess shall be recorded in the accounts of PEI and SpinCo as of the Distribution Date as a payable from PEI to SpinCo (which payable will be paid as promptly as practicable following the time it is determinable).
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CASH ALLOCATION ON THE DISTRIBUTION DATE. The allocation between Manor Care and Choice of all domestic and international cash bank balances, short-term investments and outstanding checks and drafts of Manor Care and its subsidiaries recorded per the books of Manor Care and its subsidiaries shall be in accordance with the following: (i) all cash received in, and deposits of cash, checks, drafts or short-term investments made to, depositary accounts as of the close of business on the Distribution Date shall be remitted to Manor Care; and (ii) all pett▇ ▇▇▇h of the Lodging Business shall be allocated to Choice on the Distribution Date; and (iii) all Liabilities for payment of outstanding checks or drafts drawn on or prior to the Distribution Date on accounts allocated to Choice pursuant to Section 2.07(b) shall be paid by Choice.
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Related to CASH ALLOCATION ON THE DISTRIBUTION DATE

  • Final Distribution on the Certificates If on any Determination Date, the Master Servicer determines that there are no Outstanding Mortgage Loans and no other funds or assets in the Trust Fund other than the funds in the Certificate Account, the Master Servicer shall direct the Trustee promptly to send a final distribution notice to each Certificateholder. If the Master Servicer elects to terminate the Trust Fund pursuant to clause (a) of Section 9.1, at least 20 days prior to the date notice is to be mailed to the affected Certificateholders, the Master Servicer shall notify the Depositor and the Trustee of the date the Master Servicer intends to terminate the Trust Fund and of the applicable repurchase price of the Mortgage Loans and REO Properties. Notice of any termination of the Trust Fund, specifying the Distribution Date on which Certificateholders may surrender their Certificates for payment of the final distribution and cancellation, shall be given promptly by the Trustee by letter to Certificateholders mailed not earlier than the 10th day and no later than the 15th day of the month next preceding the month of such final distribution. Any such notice shall specify (a) the Distribution Date upon which final distribution on the Certificates will be made upon presentation and surrender of Certificates at the office therein designated, (b) the amount of such final distribution, (c) the location of the office or agency at which such presentation and surrender must be made, and (d) that the Record Date otherwise applicable to such Distribution Date is not applicable, distributions being made only upon presentation and surrender of the Certificates at the office therein specified. The Master Servicer will give such notice to each Rating Agency at the time such notice is given to Certificateholders. In the event such notice is given, the Master Servicer shall cause all funds in the Certificate Account to be remitted to the Trustee for deposit in the applicable subaccounts of the Distribution Account on the Business Day prior to the applicable Distribution Date in an amount equal to the final distribution in respect of the Certificates. Upon such final deposit with respect to the Trust Fund and the receipt by the Trustee of a Request for Release therefor, the Trustee shall promptly release to the Master Servicer the Mortgage Files for the Mortgage Loans. Upon presentation and surrender of the Certificates, the Trustee shall cause to be distributed to the Certificateholders of each Class, in the order set forth in Section 4.2 hereof, on the final Distribution Date, in the case of the Certificateholders, in proportion to their respective Percentage Interests, with respect to Certificateholders of the same Class, an amount equal to (i) as to each Class of Regular Certificates, the Class Certificate Balance thereof plus accrued interest thereon in the case of an interest bearing Certificate, and (ii) as to the Residual Certificates, the amount, if any, which remains on deposit in the Distribution Account (other than the amounts retained to meet claims) after application pursuant to clause (i) above. In the event that any affected Certificateholders shall not surrender Certificates for cancellation within six months after the date specified in the above mentioned written notice, the Trustee shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within six months after the second notice all the applicable Certificates shall not have been surrendered for cancellation, the Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid out of the funds and other assets which remain a part of the Trust Fund. If within one year after the second notice all Certificates shall not have been surrendered for cancellation, the Holders of each of the Class I-A-R Certificates shall be entitled to all unclaimed funds and other assets of the Trust Fund, held for distribution to such Certificateholders, which remain subject hereto.

  • Distributions and Allocations (i) Subject to Section 8.6(c), the Redeeming Partner shall have no right to receive any distributions that are paid after the Specified Redemption Date with respect to any Partnership Units redeemed pursuant to this Section 8.6. (ii) If any Partnership Interest is redeemed (other than pursuant to Section 8.6(c)) on any day other than the first day of a Fiscal Year, then Profit, Losses, each item thereof and all other items attributable to such Partnership Interest for such Fiscal Year shall be divided and allocated to the Redeeming Partner by taking into account the Redeeming Partner’s ownership of such Partnership Interest during the Fiscal Year in accordance with Section 706(d) of the Code, using the interim closing of the books method (unless the General Partner, in its sole and absolute discretion, elects to adopt a daily, weekly or monthly proration period, in which event Profits, Losses, each item thereof and all other items attributable to such redeemed Partnership Interest for such Fiscal Year shall be prorated based upon the applicable method selected by the General Partner).

  • Permitted Withdrawals and Transfers from the Distribution Account (a) The Securities Administrator shall, from time to time, withdraw or transfer funds from the Distribution Account to a Servicer, to the Master Servicer, to the Trustee or to itself for the following purposes: (i) to reimburse the Master Servicer or any Servicer for any Advance or advance, respectively, of its own funds or of such Servicer’s own funds, the right of the Master Servicer or a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance was made; (ii) to reimburse the Master Servicer or any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer or such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer or any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer or such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; (iv) to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer or any Servicer for servicing related advances of funds, the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer or any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer its monthly Master Servicing Fee and any other servicing compensation payable pursuant to Section 3.14; (ix) to pay the Master Servicer any investment income; (x) to reimburse the Master Servicer for any expenses recoverable by it pursuant to Sections 3.03 and 3.27; (xi) to reimburse or pay any Servicer any such amounts as are due thereto under the applicable Servicing Agreement and have not been retained by or paid to the Servicer, to the extent provided in the related Servicing Agreement; (xii) to reimburse the Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to Sections 3.27, 8.05 or 8.10 (including those related to the fees and expenses of the Custodian); (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vii), inclusive and subclause (x) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 4.02(b). (c) On each Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of the aggregate Available Funds and distribute such funds to the Holders of the Certificates and any other parties entitled thereto, in accordance with Section 5.01.

  • Distribution of Financial Contribution The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.