Distributions; Restricted Payments. The Credit Parties shall not: (i) purchase or redeem any shares of its stock or membership interests or declare or pay any dividends or distributions, whether in cash or otherwise, set aside any funds for any such purpose or make any distribution to its shareholders, make any distribution of its property or assets or make any loans, advances or extensions of credit to, or investments in, any Persons, including, without limitation, such Borrower’s Affiliates, officers, partners or employees, without the prior written consent of Lender; (ii) make any payments of any Funded Indebtedness other than as permitted hereunder; or (iii) increase the annual salary paid to any officers of the Credit Parties as of the Closing Date.
Appears in 6 contracts
Samples: Credit Facility Agreement (Cd International Enterprises, Inc.), Credit Facility Agreement (Oncologix Tech Inc.), Senior Secured Revolving Credit Facility Agreement (Encore Brands, Inc.)
