Common use of Distributions from Subsidiaries Clause in Contracts

Distributions from Subsidiaries. There are no encumbrances or restrictions on the ability of any Subsidiary: (A) to pay dividends or make other distributions on such Subsidiary's capital stock or to pay any indebtedness to the Company and any such dividends and other distributions, under the current laws and regulations of the jurisdictions where such Subsidiaries are organized, may be freely transferred out of such jurisdictions and all such dividends and other distributions will not be subject to withholding or other taxes under the laws and regulations of such jurisdictions, (B) to make loans or advances or pay any indebtedness to the Company or (C) to transfer any of its property or assets to the Company.

Appears in 2 contracts

Samples: Underwriting Agreement (Box Ships Inc.), Underwriting Agreement (Box Ships Inc.)

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Distributions from Subsidiaries. There are no encumbrances or restrictions on the ability of any Subsidiary: (A) to pay dividends or make other distributions on such Subsidiary's ’s capital stock or to pay any indebtedness to the Company and any such dividends and other distributions, under the current laws and regulations of the jurisdictions where such Subsidiaries are organized, may be freely transferred out of such jurisdictions and all such dividends and other distributions will not be subject to withholding or other taxes under the laws and regulations of such jurisdictions, (B) to make loans or advances or pay any indebtedness to the Company or (C) to transfer any of its property or assets to the Company.

Appears in 1 contract

Samples: Underwriting Agreement (Paragon Shipping Inc.)

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Distributions from Subsidiaries. There are no encumbrances or restrictions on the ability of any Subsidiary: (Ai) to pay dividends or make other distributions on such Subsidiary's ’s capital stock or to pay any indebtedness to the Company and any such dividends and other distributions, under the current laws and regulations of the jurisdictions where such Subsidiaries are organized, may be freely transferred out of such jurisdictions and all such dividends and other distributions will not be subject to withholding or other taxes under the laws and regulations of such jurisdictions, (Bii) to make loans or advances or pay any indebtedness to the Company or (Ciii) to transfer any of its property or assets to the Company.

Appears in 1 contract

Samples: Underwriting Agreement (Paragon Shipping Inc.)

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