Dividends, Officers’ Compensation, etc. The Master Issuer will not declare or pay any distributions on any of its respective limited liability company interests; provided, however, that so long as no Potential Rapid Amortization Event, Rapid Amortization Event, Default or Event of Default has occurred and is continuing with respect to any Series of Notes Outstanding or would result therefrom, the Master Issuer may declare and pay distributions to the extent permitted under Section 18-607 of the Delaware Limited Liability Company Act and the Master Issuer’s Charter Documents. The Master Issuer shall not, and shall not permit any other Securitization Entity to, redeem, purchase, retire or otherwise acquire for value any Equity Interest in or issued by such Securitization Entity or set aside or otherwise segregate any amounts for any such purpose except as expressly permitted by the Indenture or as consented to by the Control Party. The Master Issuer may draw on Commitments with respect to any Series of Class A-1 Notes for general corporate purposes of the Securitization Entities and the Non-Securitization Entities, including to fund any acquisition by any Securitization Entity or Non-Securitization Entity or any dividend, distribution or share repurchase by any Securitization Entity or Non-Securitization Entity.
Dividends, Officers’ Compensation, etc. HVF will not declare or pay any distributions on any of its limited liability company interests; provided, however, that so long as no Amortization Event or Potential Amortization Event has occurred and is continuing with respect to any Series of Notes Outstanding or would result therefrom, HVF may declare and pay distributions to the extent permitted under Section 18-607 of the Delaware Limited Liability Company Act. HVF will not pay any wages or salaries or other compensation to its officers, directors, employees or others except out of earnings computed in accordance with GAAP.
Dividends, Officers’ Compensation, etc. The Issuer will not declare or pay any distributions on any of its limited liability company interests and the Canadian Co-Issuer will not declare or pay any distributions on any of its shares; provided that, in each case, so long as no Potential Rapid Amortization Event, Rapid Amortization Event, Default or Event of Default has occurred and is continuing with respect to any Series of Notes Outstanding or would result therefrom, the Co-Issuers may declare and pay distributions to the extent permitted under applicable law and their respective Charter Documents, including in respect of any Permitted Asset Disposition described in clause (xix) of the definition thereof and any amount on deposit in the Canadian Residual Account and any Residual Amount paid to the Issuer pursuant to the Priority of Payments. No Co-Issuer will, nor will it permit any other Securitization Entity that is a Subsidiary of such Co-Issuer to, pay any wages or salaries or other compensation to its officers, directors, managers or other agents except out of earnings computed in accordance with GAAP or except for the fees paid to its Independent Managers or to the extent required by the Canadian Management Agreement. The Co-Issuers will not, and will not permit any other Securitization Entity to, redeem, purchase, retire or otherwise acquire for value any Equity Interest in or issued by such Securitization Entity or set aside or otherwise segregate any amounts for any such purpose except as expressly permitted by the Indenture or as consented to by the Control Party. The Co-Issuers may draw on Class A-1 Note Commitments with respect to any Series of Class A-1 Notes for general corporate purposes of the Securitization Entities and the Non-Securitization Entities, including to fund any acquisition by any Securitization Entity or Non-Securitization Entity; provided that the Co-Issuers shall not draw on such Class A-1 Note Commitments to pay dividends on Parent shares or to repurchase Parent shares. Notwithstanding the foregoing, (a) each applicable Securitization Entity shall be permitted to make a distribution of any Large Franchisor Exemption Amount contributed to such Securitization Entity by any Non-Securitization Affiliate on or prior to any applicable Series Closing Date, or such other date of contribution, with respect to a Future Securitization Entity to such Non-Securitization Affiliate, (b) each U.S. Securitization Entity shall be permitted to make a distribution of any Tax Lien R...
Dividends, Officers’ Compensation, etc. RCFC will not declare or pay any distributions on any of its equity interests; provided however that, so long as no Series 2010-3 Amortization Event, Series 2010-3 Potential Amortization Event or HVF II Group II Liquidation Event has occurred and is continuing or would result therefrom, RCFC may declare and pay distributions to the extent permitted under the laws of the State of Oklahoma. RCFC will not pay any wages or salaries or other compensation to its officers, directors, employees or others except out of earnings computed in accordance with GAAP.
Dividends, Officers’ Compensation, etc. HVF II will not declare or pay any distributions on any of its partnership interests or membership interest; provided, however, that so long as no Amortization Event or Potential Amortization Event has occurred and is continuing with respect to any Series of Group II Notes Outstanding or would result therefrom, HVF II and the HVF II General Partner may declare and pay distributions out of capital or earnings computed in accordance with GAAP applied on a consistent basis. HVF II will not pay any wages or salaries or other compensation to its officers, directors, employees or others except out of earnings computed in accordance with GAAP.
Dividends, Officers’ Compensation, etc. Except as described in the 2024-1 Series Supplement dated as of the date hereof, the Issuer will not declare or pay any distributions on any of its limited liability company interests; provided, however, that so long as no Potential Rapid Amortization Event, Rapid Amortization Event, Default or Event of Default has occurred and is continuing with respect to any Series of Notes Outstanding or would result therefrom, the Issuer may declare and pay distributions to the extent permitted under Section 18-607 of the Delaware Limited Liability Company Act and the Issuer’s Charter Documents. Without limiting Section 8.28, the Issuer will not, nor will it permit any other Securitization Entity to, pay any wages or salaries or other compensation to its officers, directors, managers or other agents except out of earnings computed in accordance with GAAP or except for the fees paid to its Independent Managers. The Issuer will not, nor will it permit any other Securitization Entity to, redeem, purchase, retire or otherwise acquire for value any Equity Interest in or issued by such Securitization Entity or set aside or otherwise segregate any amounts for any such purpose except as expressly permitted by the Indenture or as consented to by the Control Party (acting at the direction of the Controlling Class Representative).
Dividends, Officers’ Compensation, etc. (i) Declare or pay any distributions on any of its partnership interests or capital stock, as the case may be, or make any other distribution on, or any purchase, redemption or other acquisition of, any of its partnership interests or any shares of its capital stock, as the case may be, except, in the case of AESOP Leasing, out of funds in the AESOP I Segregated Account, or (ii) pay any wages or salaries or other compensation to officers, employees or others except out of earnings computed in accordance with GAAP and, in the case of AESOP Leasing, only from funds in the AESOP I Segregated Account.
Dividends, Officers’ Compensation, etc. (a) NFLP may make any distribution (by reduction of capital or otherwise, whether in cash, property, securities or a combination thereof), with respect to any partnership interest in NFLP and directly or indirectly redeem, purchase, retire or otherwise acquire for value any such partnership interest or set aside any amount for such purpose, as permitted by its agreement of limited partnership; except to the extent that an Amortization Event or Potential Amortization Event has occurred and is continuing, or would result therefrom.
(b) The General Partner will not (i) declare or pay any dividends on any shares of its capital stock or make any other distribution on, or any purchase, redemption or other acquisition of, any shares of its capital stock or (ii) pay any wages or salaries or other compensation to officers, directors, employees or others except, in each case, to the extent no Amortization Event or Potential Amortization Event has occurred and is continuing or would result therefrom.
Dividends, Officers’ Compensation, etc. (i) Declare or pay any distributions on any of its partnership interests or make any other distribution on, or any purchase, redemption or other acquisition of, any of its partnership interests except out of funds in the AESOP I Segregated Account, or (ii) pay any wages or salaries or other compensation to officers, employees or others except out of earnings computed in accordance with GAAP and, in any case, only from funds in the AESOP I Segregated Account.
Dividends, Officers’ Compensation, etc. (i) Declare or pay any dividends on any shares of its capital stock or make any other distribution on, or any purchase, redemption or other acquisition of, any shares of its capital stock except, in the case of AESOP Leasing II, out of funds in the AESOP II Segregated Account, or (ii) pay any wages or salaries or other compensation to officers, directors, employees or others except out of earnings computed in accordance with GAAP and, in the case of AESOP Leasing II, only from funds in the AESOP II Segregated Account.
