Distributions, Prepayments of Debt Sample Clauses

Distributions, Prepayments of Debt. The Borrower shall not directly or indirectly: (a) redeem any of the Borrower's shares of capital stock; or (b) declare any dividends or distributions in respect of equity in any year, provided however, that the Borrower may make dividends in any one Fiscal Year of not more than $500,000 in the aggregate.
Sample 1
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Distributions, Prepayments of Debt. The Borrower shall not directly or indirectly: (a) redeem any of the Borrower's shares of capital stock; (b) declare any dividends in any year on any class of the Borrower's capital stock, except that during each Fiscal Year, the Borrower may make, declare and pay dividends to its shareholders in amounts up to the lesser of (i) 25% of Sanfilippo's consolidatex xxx xxxxxx during the previous Fiscal Year, or (ii) $5,000,000; or (c) prepay, redeem, purchase or deposit funds for the prepayment, redemption or purchase of any principal, interest or other obligations related to any indebtedness of the Borrower for borrowed money other than the Liabilities.
Sample 1
Distributions, Prepayments of Debt. Section 10.10 of the Agreement is amended to read in full as follows:
Sample 1
Distributions, Prepayments of Debt. The Borrower shall not directly or indirectly, make any distributions in respect of its equity, except that (a) the Borrower may make distributions to its Owners or former Owners in respect of Borrower’s taxable income, in amounts proportionate to the respective percentage interests of each of such Owner or former Owner so that each such Owner or former Owner shall have received an amount equal to the product of (x) such Owner’s or former Owner’s share of the Borrower’s net taxable income, multiplied by (y) 48%, (b) the Borrower may, provided that no Default has occurred and is continuing or would be caused thereby, make distributions to pay an annual 5% return on its Class A Units, and (c) the Borrower may make post-closing distributions and payments in accordance with Section 7.6 of the Purchase Agreement; provided, however, that the October 2003 distribution to US Premium Beef under subsection (a) of this Section 10.10 may be based on Borrower’s GAAP income. The Borrower shall not prepay any principal, interest or other payments on or in connection with any indebtedness of the Borrower other than the Liabilities.
Sample 1
Distributions, Prepayments of Debt. The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly: (a) redeem any of its shares of capital stock; (b) declare any dividends in any year on any class of its capital stock, except that during each Fiscal Year, the Company may make, declare and pay dividends to its shareholders in amounts up to the lesser of (i) 25% of the Company's consolidated net income during the previous Fiscal Year, or (ii) $5,000,000; or (c) prepay, redeem, purchase or deposit funds for the prepayment, redemption or purchase of any principal, interest or other obligations related to any Indebtedness of the Company for borrowed money, other than the Notes and the Bank Obligations.
Sample 1

Related to Distributions, Prepayments of Debt

  • REPAYMENTS, PREPAYMENTS INTEREST AND FEES

  • Payments Prepayments (a) Payment, when paid, shall be applied first to the payment of all interest accrued and unpaid on this Note and then to payment on account of the principal hereof.

  • Voluntary Prepayments of Borrowings 25 Section 3.08 Payments, etc................................................................................26 Section 3.09 Interest Rate Not Ascertainable, etc.........................................................28 Section 3.10 Illegally....................................................................................28 Section 3.11

  • Prepayments of Loans Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Euro-Dollar Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Lenders included in such Borrowing.

  • Mandatory Prepayments of Loans If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

  • Prepayments of Indebtedness, etc If any Default or Event of Default exists, the Credit Parties will not permit any Consolidated Party to (a) after the issuance thereof, amend or modify (or permit the amendment or modification of) any of the terms of any Indebtedness if such amendment or modification would add or change any terms in a manner adverse to the issuer of such Indebtedness, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto or change any subordination provision thereof, or (b) make (or give any notice with respect thereto) any voluntary or optional payment or prepayment or redemption or acquisition for value of (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due), refund, refinance or exchange of any other Indebtedness.

  • Prepayments of the Loans (a) Immediately upon receipt by Borrower or its Subsidiaries of proceeds of any (i) sale or other disposition of Collateral (excluding Accounts and Inventory) permitted under Section 7.9 in excess of $1,000,000 in the aggregate in any Fiscal Year, (ii) sale of the stock of any Subsidiary of Borrower or (iii) issuance of equity securities (other than equity issued in connection with Borrower’s Plans) or issuance of Debt (other than Guaranties) permitted under the last sentence of Section 7.13 (excluding proceeds of equity or Debt issued to finance a Permitted Acquisition but only to the extent such proceeds are received and paid to the sellers of the Target contemporaneously with the consummation of the Permitted Acquisition or contemporaneously with the date on which any other consideration is required to be paid to such sellers in connection with such Permitted Acquisition), Borrower shall prepay the Obligations in an amount equal to all such proceeds, net of (A) commissions and other reasonable and customary transaction costs, fees and expenses properly attributable to such transaction and payable by Borrower in connection therewith (in each case, paid to non-Affiliates), (B) transfer taxes, (C) amounts payable to holders of senior Liens (to the extent such Liens constitute Permitted Liens hereunder), if any, and (D) an appropriate reserve for income taxes in accordance with GAAP in connection therewith (“Net Proceeds”). Notwithstanding the foregoing, if an Event of Default has occurred and is continuing, all Net Proceeds from a sale of Collateral subject to clause (i) above shall be applied to the Obligations without regard to the $1,000,000 exclusion set forth above. Any such prepayment required by this Section 3.3(a) shall be applied in accordance with Section 3.7.

  • Mandatory Repayments and Prepayments 28 SECTION 3.06.

  • Repayments and Prepayments The Borrower shall repay in full the unpaid principal amount of each Loan upon the Stated Maturity Date therefor. Prior thereto, the Borrower

  • Prepayment of Debt Make any prepayment (whether optional or mandatory), repurchase, redemption, defeasance or any other payment in respect of any Subordinated Debt.

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