Loans and Distributions Sample Clauses

Loans and Distributions. The Loan Parties shall not (i) declare or pay any dividends, (ii) purchase, redeem, retire or otherwise acquire for value any of its Equity Interests now or hereafter outstanding, (iii) make any distribution of assets to its stockholders, investors, or equity holders, whether in cash, assets, or in obligations of any Loan Party, (iv) allocate or otherwise set apart any sum for the payment of any dividend or distribution on, or for the purchase, redemption, or retirement of any shares of its Equity Interests, or (v) make any other distribution by reduction of capital or otherwise in respect of any shares of its Equity Interests; provided, however the Loan Parties may make (a) redemptions and repurchases pursuant to employee stock compensation plans entered into in the ordinary course of business and (b) dividends, redemptions, repurchases and distributions as described in the foregoing clauses (i) through (v) where such proceeds are payable exclusively to other Loan Parties. The Loan Parties shall not make any loans or pay any advances of any nature whatsoever to any Person, except advances in the ordinary course of business to (i) vendors, suppliers, and contractors, (ii) employees, not to exceed $500,000 in the aggregate at any one time outstanding, and (iii) Intercompany Loans.
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Loans and Distributions. Make any loans, dividends or other distributions, payments, or advances of money and/or extensions of credit to any Persons, including officers, directors, employees, stockholders, or Affiliates and Subsidiaries of Borrower, other than (a) reasonable advances made in the ordinary course of business on account of salary, commissions, and routine travel and business expenses, (b) loans made in the ordinary course of business to Term Loan Debtors, (c) payments to ASBA required to be made under the ASBA Note or the ASBA Security Agreement, so long as such payments are made solely from the proceeds of the Serviced ASBA Assets, (d) payments to FirstCity Financial of regularly scheduled monthly payments of interest with respect to the FirstCity Debt, (e) payments to FirstCity Financial for corporate overhead expenses charged to Borrower in amounts not exceeding those permitted under Section 4.16 of the Asset Purchase Agreement or to FirstCity Servicing Corporation for services provided under the Servicing Agreement, each as in effect on the Original Closing Date, and (f) out of funds legally available therefor and to the extent, if any, permitted by the written consents of both Lender and SBA, the regularly scheduled dividends to which the holders of Borrower’s Series A Preferred Stock are entitled pursuant to Borrower’s Certificate of Formation as in effect on February 27, 2007, so long as in the case of any payment described in clauses (d), (e), or (f) above (i) no Default or Event of Default shall have occurred and be continuing or would occur as a result thereof, and (ii) such payment is permitted under applicable SBA Rules and Regulations.
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Loans and Distributions. The Loan Parties shall not (i) declare or pay any dividends, (ii) purchase, redeem, retire or otherwise acquire for value any of its Equity Interests now or hereafter outstanding, (iii) make any distribution of assets to its stockholders, investors, or equity holders, whether in cash, assets, or in obligations of any Loan Party, (iv) allocate or otherwise set apart any sum for the payment of any dividend or distribution on, or for the purchase, redemption, or retirement of any shares of its Equity Interests, or (v) make any other distribution by reduction of capital or otherwise in respect of any shares of its Equity Interests; provided, however the Loan Parties may make dividends, redemptions, repurchases and distributions as described in the foregoing clauses (i) through (v): (a) so long as the Loan Parties are in pro forma compliance with the financial covenants set forth in Section 6.14 Financial Covenants, and (b) Borrowers do not draw on the Revolving Loan to make such dividends, redemptions, repurchases and distributions unless Black Diamond demonstrates to Lender to Lender’s satisfaction (which determination shall be in Lender’s sole discretion) that such use of the Revolving Loan will not impair Black Diamond’s liquidity and availability under the Revolving Loan for funding Capital Expenditures, seasonal working capital and other corporate obligations and operational cash requirements.
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Loans and Distributions. Black Diamond shall not (i) declare or pay any dividends, (ii) purchase, redeem, retire or otherwise acquire for value any of its Equity Interests now or hereafter outstanding, (iii) make any distribution of assets to its stockholders, investors, or equity holders, whether in cash, assets, or in obligations of Borrowers, (iv) allocate or otherwise set apart any sum for the payment of any dividend or distribution on, or for the purchase, redemption, or retirement of any shares of its Equity Interests, or (v) make any other distribution by reduction of capital or otherwise in respect of any shares of its Equity Interests; provided, however Borrowers may make redemptions, repurchases and distributions: (a) after the repayment in full of the Term Loan and Acquisition Loan, (b) so long as Borrowers are in pro forma compliance with the financial covenants set forth in Section 6.14 Financial Covenants, and (c) Borrowers do not draw on the Revolving Loan to make such redemptions, repurchases and distributions unless Black Diamond demonstrates to Lender to Lender’s satisfaction (which determination shall be in Lender’s sole discretion) that such use of the Revolving Loan will not impair Black Diamond’s liquidity and availability under the Revolving Loan for funding Capital Expenditures, seasonal working capital and other corporate obligations and operational cash requirements. Borrowers shall not make any loans or pay any advances of any nature whatsoever to any Person, except advances in the ordinary course of business to vendors, suppliers, and contractors and Intercompany Loans. Borrowers shall notify Lender in writing within ten days after amending or creating a new Intercompany Loan, which amendment or new Intercompany Loan agreement shall be substantially in the form of Exhibit B.
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Loans and Distributions. Upon the occurrence of an Event of Default which has not been waived or timely cured or an event which with the passage of time or giving of notice or both, without waiver or timely cure, would constitute an Event of Default, Clarus shall not (i) declare or pay any dividends, (ii) purchase, redeem, retire or otherwise acquire for value any of its capital stock or equity interests now or hereafter outstanding, (iii) make any distribution of assets to its stockholders, investors, or equity holders, whether in cash, assets, or in obligations of Borrowers, (iv) allocate or otherwise set apart any sum for the payment of any dividend or distribution on, or for the purchase, redemption, or retirement of any shares of its capital stock or equity interests, or (v) make any other distribution by reduction of capital or otherwise in respect of any shares of its capital stock or equity interests. Borrowers shall not make any loans or pay any advances of any nature whatsoever to any person or entity, except advances in the ordinary course of business to vendors, suppliers, and contractors and Intercompany Loans. Borrowers shall notify Lender in writing within ten (10) days after amending or creating a new Intercompany Loan, which amendment or new Intercompany Loan agreement shall be substantially in the form of Exhibit C.
Sample 1
Loans and Distributions. Make any loans, dividends or other distributions, payments, or advances of money and/or extensions of credit to any Persons, including officers, directors, employees, stockholders, or Affiliates and Subsidiaries of Borrower, other than (a) reasonable advances made in the ordinary course of business on account of salary, commissions, and routine travel and business expenses, (b) loans made in the ordinary course of business to Term Loan Debtors, (c) payments to ASBA required to be made under the ASBA Note or the ASBA Security Agreement, so long as such payments are made solely from the proceeds of the Serviced ASBA Assets, (d) payments to FirstCity Financial of regularly scheduled monthly payments of interest with respect to the FirstCity Debt, (e) payments to FirstCity Financial for corporate overhead expenses charged to Borrower in amounts not exceeding those permitted under Section 4.16 of the Asset Purchase Agreement or to FirstCity Servicing Corporation for services provided under the Servicing Agreement, each as in effect on the Closing Date, and (f) out of funds legally available therefor, the regularly scheduled dividends to which the holders of Borrower’s Preferred Stock are entitled pursuant to Borrower’s Certificate of Formation as in effect on the Closing Date, so long as in the case of any payment described in clauses (d), (e), or (f) above (i) no Default or Event of Default shall have occurred and be continuing or would occur as a result thereof, and (ii) such payment is permitted under applicable SBA Rules and Regulations.
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Loans and Distributions. 16 8.1 Loans and Distributions on Class B Units 16 8.2 Distributions on Class A Units 16 8.3 Distributions to the General Partner 16 8.4 Payment 17 8.5 Partial Payment 17 8.6 Right of Set-Off 17 8.7 Borrowings by Holders of Class A Units 17 8.8 Loan Accounts 18 8.9 Withholdings 18
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Loans and Distributions. 3.1 A holder of a Class B Unit shall be entitled to receive and FLP shall, subject to applicable law, on each Distribution Payment Date, make a loan in respect of each Class B Unit:
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Loans and Distributions. You are prohibited from reaping any pecuniary gain from the Enterprises. This prohibition applies to loans of money or property, guarantees of any obligation of any director or officer, and any distribution to any officer or director of any money or property. The income and assets of the Enterprises are absolutely committed to its nonprofit purposes. The Enterprises is permitted to make advances to directors or officers for certain expenses reasonably anticipated to be incurred in the performance of the duties of the officer or director, provided that the officer or director would be entitled to be reimbursed for such expenses by the corporation if the advance had not been made.
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Related to Loans and Distributions

  • Payments and Distributions (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust:

  • Allocations and Distributions The LLC's profits and losses shall be allocated to the Member. At the time determined by a majority of the Managers, the Managers may cause the LLC to distribute to the Member any cash held by it which is neither reasonably necessary for the operation of the LLC nor the performance of its contractual obligations, nor which is in violation of Sections 18-607 or 18-804 of the Act or any contractual agreement binding on the LLC.

  • LIQUIDATION AND DISTRIBUTION On or as soon after the Closing Date as is conveniently practicable: (a) the Acquired Fund will distribute in complete liquidation of the Acquired Fund, pro rata to its shareholders of record, determined as of the close of business on the Closing Date (the "Acquired Fund Shareholders"), all of the Acquiring Fund Shares received by the Acquired Fund pursuant to paragraph 1.1; and (b) the Acquired Fund will thereupon proceed to dissolve and terminate as set forth in paragraph 1.8 below. Such distribution will be accomplished by the transfer of Acquiring Fund Shares credited to the account of the Acquired Fund on the books of the Acquiring Fund to open accounts on the share records of the Acquiring Fund in the name of the Acquired Fund Shareholders, and representing the respective pro rata number of Acquiring Fund Shares due such shareholders. All issued and outstanding shares of the Acquired Fund (the "Acquired Fund Shares") will simultaneously be canceled on the books of the Acquired Fund. The Acquiring Fund shall not issue certificates representing Acquiring Fund Shares in connection with such transfer. After the Closing Date, the Acquired Fund shall not conduct any business except in connection with its termination.

  • In-Kind Distributions Subject to Section 00-00-000 of the Act, the Company may make in-kind distributions of the Company assets, provided the Members unanimously agree and such agreement is in writing. The fair market value of the property must be determined and agreed upon by the Members before the distribution is made. The receiving Member’s capital account shall be adjusted to reflect the value of the in-kind distribution.

  • Management and Distribution Section 8. The Trustees may, at any time and from time to time, contract for exclusive or nonexclusive advisory and/or management services with any corporation, trust, association or other organization (the "Manager"), every such contract to comply with such requirements and restrictions as may be set forth in the Bylaws; and any such contract may provide for one or more sub-advisers or other agents who shall perform all or part of the obligations of the Manager under such contract and contain such other terms interpretive of or in addition to said requirements and restrictions as the Trustees may determine, including, without limitation, authority to determine from time to time what investments shall be purchased, held, sold, or exchanged and what portion, if any, of the assets of the Trust shall be held uninvested and to make changes in the Trust's investments. The Trustees may also, at any time and from time to time, contract with the Manager or any other corporation, trust, association or other organization, appointing it exclusive or nonexclusive distributor or principal underwriter for the Shares, every such contract to comply with such requirements and restrictions as may be set forth in the Bylaws; and any such contract may contain such other terms interpretive of or in addition to said requirements and restrictions as the Trustees may determine. The fact that:

  • Profit Loss and Distributions 4.1 Distributions of Cash Flow and Allocations of Profit or Loss Other than Capital Transactions.

  • Voting and Distributions (i) So long as no Event of Default shall have occurred and be continuing:

  • Liquidation and Distribution of Assets Upon the dissolution of the Company, the Member, or court-appointed trustee, if there is no remaining Member, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient therefore, shall be applied and distributed in the following order:

  • Deemed Contribution and Distribution Notwithstanding any other provision of this Article 13, in the event that the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), but no Liquidating Event has occurred, the Partnership’s Property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged and the Partnership’s affairs shall not be wound up. Instead, for federal income tax purposes the Partnership shall be deemed to have contributed all of its assets and liabilities to a new partnership in exchange for an interest in the new partnership; and immediately thereafter, distributed Partnership Units to the Partners in the new partnership in accordance with their respective Capital Accounts in liquidation of the Partnership, and the new partnership is deemed to continue the business of the Partnership. Nothing in this Section 13.3 shall be deemed to have constituted a Transfer to an Assignee as a Substituted Limited Partner without compliance with the provisions of Section 11.4 or Section 13.3 hereof.

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