Management Fees and Compensation. The Company shall not, nor shall it permit any of its Subsidiaries, directly or indirectly, to pay any management, consulting or similar fees to any Affiliate or to any director, officer or employee of the Company or any of its Subsidiaries except reasonable director's fees and expenses and except as set forth on Schedule 9.13. Notwithstanding the foregoing, no payments may be made with respect to any items set forth on Schedule 9.13 upon the incurrence and during the continuation of an Event of Default.
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Management Fees and Compensation. The Company shall not, nor shall it permit any of its Subsidiaries, directly or indirectly, to pay any management, consulting or similar fees to any Affiliate or to any director, officer or employee of the Company or any of its Subsidiaries except reasonable director's fees and expenses and except as set forth on Schedule SCHEDULE 9.13. Notwithstanding the foregoing, no payments may be made with respect to any items set forth on Schedule SCHEDULE 9.13 upon the incurrence and during the continuation of an Event of Default.
Appears in 1 contract
Samples: Securities Purchase Agreement (Integrated Defense Technologies Inc)
Management Fees and Compensation. The Company shall not, nor -------------------------------- shall it the Company permit any of its Subsidiaries, Subsidiaries directly or indirectly, indirectly to pay any management, consulting or similar fees to any Affiliate or to any director, officer or employee of the Company or of any of its Subsidiaries except reasonable directorDirector's fees and expenses and except as set forth on Schedule 9.13. ------------- Notwithstanding the foregoing, no payments may be made with respect to any items set forth on Schedule 9.13 upon the incurrence and during the continuation of an ------------- Event of Default.
Appears in 1 contract
Samples: Securities Purchase Agreement (Bankvest Capital Corp)
Management Fees and Compensation. The Company shall not, nor -------------------------------- shall it permit any of its Subsidiaries, directly or indirectly, to pay any management, consulting or similar fees to any Affiliate or to any director, officer or employee of the Company or any of its Subsidiaries except reasonable director's fees and expenses and except as set forth on Schedule 9.13. ------------- Notwithstanding the foregoing, no payments may be made with respect to any items set forth on Schedule 9.13 upon the incurrence and during the continuation of an ------------- Event of Default.
Appears in 1 contract
