Payment of Dividends by Subsidiaries. Subject to any required consent or approval from any applicable Governmental Authority, the Company will cause its Subsidiaries to pay dividends or make other distributions or advances to the Company, to the extent of funds legally available therefor, in sufficient amounts and at sufficient times to enable the Company to have sufficient earnings and funds to pay on a timely basis all amounts due with respect to the Securities and any other amounts due under this Purchase Agreement and the Other Transaction Documents.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Swiss Reinsurance America Corp), Securities Purchase Agreement (Reliance Financial Services Corp), Securities Purchase Agreement (Home State Holdings Inc)
Payment of Dividends by Subsidiaries. Subject to any required consent or approval from any applicable Governmental Authority, the The Company will shall cause its Subsidiaries to pay dividends or make other distributions or advances to the CompanyCompany and Holdings, to the extent of funds legally available therefor, in sufficient amounts (after taking into account the other sources of funds readily available to the Company) and at sufficient times to enable the Company to have sufficient earnings and funds to pay on a timely basis all amounts due with respect to the Securities Senior Debt and the Notes and any other amounts due under this Purchase Agreement and in respect of the Other Transaction DocumentsObligations.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Decora Industries Inc)
