Distributions; Restricted Investments. Neither Holdings nor any of its Restricted Subsidiaries shall (a) directly or indirectly declare or make, or incur any liability to make, any Distribution, except Permitted Distributions, or (b) make any Investment, except Permitted Investments.
Distributions; Restricted Investments. Neither Parent nor any of its Subsidiaries shall:
Distributions; Restricted Investments. (a) None of the Parent, any Borrower nor any of their respective Subsidiaries shall directly or indirectly declare or make, or incur any liability to make, any Distribution, except (i) Distributions to a Borrower by its Subsidiaries or by any such Subsidiary to any other Subsidiary (provided that no Borrower nor any Subsidiary Guarantor may declare or pay any Distribution to any Person that is not a Borrower or a Subsidiary Guarantor), (ii) so long as no Default or Event of Default shall have occurred and be continuing at the time of such Distribution, Distributions from any Borrower or any Subsidiary of any Borrower to the Parent in an amount during any twelve (12) month period, which when added to all other amounts received by the Parent during such period from any Borrower or any Subsidiary of any Borrower from any source (including, without limitation, payments on any Debt of such Borrower or any of their respective Subsidiaries held by the Parent, but excluding Distributions received by the Parent in accordance with clauses (iii), (iv) and (v) below) shall not exceed 120% of the Parent’s actual operating expenses during such period, (iii) so long as no Default or Event of Default shall have occurred and be continuing at the time of declaration or after giving effect to the payment thereof, (A) the Parent may make Distributions to the extent that, after giving effect thereto, Excess Availability shall be at least $30,000,000, and (B) the Borrowers and their Subsidiaries may make Distributions to the Parent in the amount of, and concurrently with, the Distribution permitted to be made by the Parent under clause (A) above in order to enable the Parent to make such Distribution, (iv) so long as no Default or Event of Default shall have occurred and be continuing at the time of declaration or after giving effect to the payment thereof, the Borrowers and their Subsidiaries may make Distributions to the Parent in the amount of, and concurrently with, any Permitted Restricted Investment or Permitted Foreign Subsidiary Investment permitted to be made by the Parent under Section 7.10(b) in order to enable the Parent to make such Permitted Restricted Investment or Permitted Foreign Subsidiary Investment, and (v) the Borrowers and their Subsidiaries may make Permitted Convertible Debenture Distributions.
Distributions; Restricted Investments. Neither the Borrower nor any of its Subsidiaries shall (a) directly or indirectly declare or make, or incur any liability to make, any Distribution, except (1) Distributions to the Borrower or any Subsidiary as part of a spin-off or otherwise by any Subsidiary, (2) Distributions by non-wholly owned Subsidiaries to the extent such Distribution is made pro rata to all owners of such non-wholly owned Subsidiary and (3) the Borrower may repurchase its own stock if immediately following each such repurchase, on a pro forma basis, Availability shall be in excess of $50,000,000 with all trade payables being paid when due in accordance with their terms and customary practice; or
Distributions; Restricted Investments. Neither the Borrower nor any of its Subsidiaries shall directly or indirectly declare or make, or incur any liability to make, any Distribution or Restricted Investment, except (i) Distributions to the Borrower by its Subsidiaries and, in the case of any Subsidiaries that are not wholly-owned, concurrent Distributions to their other equity holders, and (ii) payments made by the Borrower in satisfaction of any put obligation imposed on the Borrower by Section 409 of the Internal Revenue Code of 1986, as amended, and any successor provision, relating to the Borrower's Series A preferred stock, authorized and issued prior to October 5, 1999 and held by the Borrower's 1989 employee stock ownership plan; provided, however, the Borrower and its Subsidiaries may take the actions otherwise prohibited by this Section 9.10 to the extent permitted by the Indenture in effect at its initial execution but only if no Default or Event of Default exists and only if Availability is not less than $25,000,000 immediately before and after giving effect to all consideration to be paid by the Borrower at any time with respect to the actions.
Distributions; Restricted Investments. The Company will not, nor will it permit any Restricted Subsidiary to, declare or make or incur any liability to declare or make any Distribution (other than Distributions payable solely to the Company or another Restricted Subsidiary) or make any Restricted Investment unless, immediately after giving effect to the proposed Distribution or Restricted Investment,
Distributions; Restricted Investments. Notwithstanding anything to the contrary contained in Section 10.2 of the Loan Agreement or any other provision of the Loan Agreement or any of the other Loan Documents, the Loan Parties will not, and will not permit any Subsidiary, after the date hereof, to make any Distribution or Investment permitted in Section 10.2 of the Loan Agreement, except for Distributions permitted by Subsections 10.2(a)(viii), (xi)(so long as any such Distributions are not made to Holdings) and (xvii)(A) and (B), to the extent specifically set forth in the Budget.
Distributions; Restricted Investments. Neither Parent nor any of its Subsidiaries shall (i) directly or indirectly declare or make, or incur any liability to make, any Distribution, except (A) Distributions to the Borrowers by their Subsidiaries or Distributions made in connection with a Permitted Acquisition, and (B) Distributions by Parent in amounts necessary to permit Parent to repurchase Capital Stock of Parent from directors, officers or employees of Parent or any of its Subsidiaries upon the termination of their employment, so long as (x) no Default or Event of Default exists at the time of or would be caused by the making of such Distributions, and (y) the aggregate cash amount of such Distributions, measured at the time when made, does not exceed $200,000 in any Fiscal Year of Parent, or (ii) make any Restricted Investment except for Permitted Acquisitions and other transactions permitted by Section 7.9 hereof.
Distributions; Restricted Investments. No Loan Party shall
Distributions; Restricted Investments. 35 7.11 Transactions Affecting Collateral or Obligations...........36 7.12 Guaranties.................................................36 7.13 Debt.......................................................36 7.14 Prepayment.................................................38 S-ii Second Amended and Restated Credit Agreement
