CCFC Restricted Payments Clause Samples

CCFC Restricted Payments. CCFC will not, and will not permit any of its Subsidiaries to, directly or indirectly: (i) declare or pay any dividend or make any other payment or distribution on account of CCFC’s Equity Interests (including any payment in connection with any merger or consolidation involving CCFC) or to the direct or indirect holders of CCFC’s Equity Interests in their capacity as such, including payments of the type described in clause (2) of the definition of Permitted Payments to Parent (other than (x) dividends or distributions payable to CCFC or a Subsidiary of CCFC and (y) to the extent permitted by the CCFC Debt Documents, dividends or other distributions on account of CCFC’s Equity Interests or to the direct or indirect holders of CCFC’s Equity Interests in their capacity as such in an aggregate amount equal to the Net Proceeds of the sale of the Ontelaunee facility remaining after consummation of an Asset Sale Offer relating to such sale; provided that any such amount pursuant to the preceding clause (y) shall be deducted in determining Excess Cash Flow at the end of the period following such dividends or distributions); (ii) purchase, redeem or otherwise acquire or retire for value (including in connection with any merger or consolidation involving CCFC) any Equity Interests of CCFC; (iii) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any Subordinated Indebtedness or any other Indebtedness of CCFC or any of its Subsidiaries that is contractually subordinated to the Notes or any Notes Guarantee, including any payments under the Working Capital Facility (excluding any intercompany Indebtedness between or among CCFC and any of its Subsidiaries); or (iv) make any Restricted Investment; (all such payments and other actions set forth in these clauses (i) through (iv) above being collectively referred to as “CCFC Restricted Payments”), unless (A) such CCFC Restricted Payment is made following the end of a Quarterly Period from Excess Cash Flow generated during such Quarterly Period or during previous Quarterly Periods (but only if Excess Cash Flow from August 14, 2003 through the end of such Quarterly Period is positive) and (B) no Default or Event of Default has occurred and is continuing or would occur as a consequence of such CCFC Restricted Payment (other than any Default or Event of Default that is cured as a result of such CCFC Restricted Payment). CCFC will not, and will not permit any of its Subs...