DISTRIBUTIONS; CAPITAL Sample Clauses

DISTRIBUTIONS; CAPITAL. Where the Underlying Borrower holds a Licensee Equity Interest, the Organization Documents of the Licensee in which the Underlying Borrower holds such interest contain provisions which (a) if a partnership, (i) give a partner of such Licensee the right to withdraw and receive payment of its capital account, either in cash or in installments over a period not exceeding three years, and (ii) obligate such Licensee to make distributions to its partners after adequate reserves for operating expenses have been established, (b) if a corporation, obligate such Licensee to pay dividends to its shareholders after adequate reserves for operating expenses have been established, and (c) provide that additional capital calls on partners of such Licensee (where the Licensee is a partnership) or the call to purchase additional capital stock of such Licensee (where the Licensee is a corporation) shall not be obligatory and that the only remedy for failure to pay a capital call or to purchase additional capital stock shall be the dilution of the partner's or shareholder's interest in the Licensee.
Sample 1
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Related to DISTRIBUTIONS; CAPITAL

  • Distributions; Investments Directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Subsidiaries to do so. Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock.

  • Distributions; Capital Change; Restricted Investments Neither the Borrower nor any of its Subsidiaries shall (i) directly or indirectly declare or make, or incur any liability to make, any Distribution, except Distributions to the Borrower by its Subsidiaries, (ii) make any change in its capital structure which could have a Material Adverse Effect or issue any capital stock other than common stock or (iii) make any Restricted Investment.

  • Capital Contributions Distributions 10 SECTION 5.1

  • Distributions, Etc Upon the dissolution, winding up, liquidation or reorganization of the Tenant, whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Tenant, if any sum shall be paid or any property shall be distributed upon or with respect to any of the Pledged Collateral, such sum shall be paid over to the Secured Parties, to be held as collateral security for the Secured Obligations. If any dividend shall be declared on any of the Pledged Collateral (excluding cash dividends), or any share of beneficial interest or fraction thereof shall be issued pursuant to any split of beneficial interests involving any of the Pledged Collateral, or any distribution of capital shall be made on any of the Pledged Collateral, or any property shall be distributed upon or with respect to the Pledged Collateral pursuant to recapitalization or reclassification of the capital of the Tenant, the shares or other property so distributed shall be delivered to the Secured Parties to be held as collateral security for the Secured Obligations.

  • Allocations Distributions Each item of income, gain, loss, deduction and credit of the Company shall be allocated 100% to the Member. Each distribution of cash or other property by the Company shall be made 100% to the Member. Distributions shall be made to the Member at the times and in the amounts determined by the Member.

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Investments; Distributions (i) Directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Subsidiaries to do so; or (ii) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock.

  • Distributions and Payments Section 4.01.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

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