Distributions by Subsidiaries. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distributions on such subsidiary’s shares or capital stock, from repaying the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company.
Distributions by Subsidiaries. Except as described in the Registration Statement, the General Disclosure Package and the Prospectus, (A) no subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distributions on such subsidiary’s ordinary shares or share capital, from repaying the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company and (B) no governmental or regulatory approvals, consents, authorizations, orders, licenses, registrations, clearances or qualifications are currently required in England and Wales or any political subdivisions of the government of England and Wales in order for the Company to pay dividends or other distributions declared by the Company to the holders of Ordinary Shares.
Distributions by Subsidiaries. Suffer to exist, or permit any of its Subsidiaries to suffer to exist, any consensual encumbrance or restriction on the ability of any such Subsidiary (i) to pay, directly or indirectly, dividends or make any other distributions in respect of its capital stock or pay any Indebtedness or other obligation owed to the Borrower or any other Subsidiary of the Borrower; (ii) to make loans or advances to the Borrower or any Subsidiary of the Borrower; or
Distributions by Subsidiaries. The Company shall not permit any subsidiary which it may create to purchase or set aside any sums for the purchase of, or pay any dividend or make any distribution on, any shares of its stock, except for dividends or other distributions payable to the Company or another such subsidiary.
Distributions by Subsidiaries. The Board of Managers shall cause any Subsidiary of the Company to make such distributions of cash to the Company (to the extent funds are legally available therefor and permitted by applicable debt instruments) as are necessary for the Company to make the distributions contemplated under Article VI.
Distributions by Subsidiaries. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or other ownership interest, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as such restrictions or dividends, loans or advances would not, individually or in the aggregate, have a Material Adverse Effect and, in respect of the Non-Wholly Owned Subsidiary, as permitted by applicable securities laws.
Distributions by Subsidiaries. The Company shall not permit any Subsidiary to purchase or set aside any sums for the purchase of, or pay any dividend or make any distribution on, any shares of its stock, except for dividends or other distribution payable to the Company or another Subsidiary.
Distributions by Subsidiaries. 38 Page Section 5.20 Compliance with Laws.............................. 38 Section 5.21 Keeping of Record and Books of Account............ 38 Section 5.22 Change in Nature of Business...................... 38 Section 5.23 U.S. Real Property Interest Statement............. 38 Section 5.24 Punctual Payment.................................. 38 Section 5.25 Authorization of Preferred Stock.................. 38 Section 5.26 Restrictions...................................... 39
Distributions by Subsidiaries of a ----------------------- Borrower to such Borrower so long as (if the Person making the Distribution is a Borrower) it could have made a Permitted Intercompany Advance in the same amount, (b) Distributions by Parent (y) solely in shares of Parent's common stock, and (z) to purchase or otherwise acquire shares of its Stock concurrently with and with the proceeds of the issuance of new shares of its Stock, (c) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, cash Distributions by Borrowers to Parent for the sole purpose of permitting Parent to pay, and Parent shall pay, federal and state income taxes, (d) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, Distributions by Borrowers to Parent for customary and reasonable out-of-pocket administrative expenses of Parent incurred in the ordinary course of business and solely attributable to the business activities relating to its ownership of Borrowers but only to the extent that such Distributions are promptly applied to pay such administrative expenses, (e) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, Distributions by Borrowers to Parent to enable Parent to repurchase equity interests from former employees of Borrowers, their estates, spouses or former spouses in connection with the termination of such employee's employment; provided, however, that (1) Parent -------- ------- shall use the proceeds of such Distributions solely and promptly to repurchase such equity interests, and (2) the aggregate amount of all such Distributions shall not exceed $200,000 in cash during any calendar year during the term of this Agreement, with unused amount for a particular year being added to the maximum aggregate amount of such Distributions permitted pursuant to this clause (e)(2) for the following calendar year, (f) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, distributions by Borrowers to Parent to enable Parent to repurchase shares of its outstanding Stock in the open market; provided, however, that (1) Parent shall use the -------- ------- proceeds of such distributions solely and promptly to repurchase such equity interests, and (2) the aggregate amount of all such distributions shall not exceed $500,000 in cash during any calendar year during the term of this Agreement. and (g) so long as no Default or Event...
