Payment Restrictions. No dividends or other distributions (other than a dividend or distribution payable solely in shares of Parity Stock or Junior Stock (in the case of Parity Stock) or Junior Stock (in the case of Junior Stock) and other than cash paid in lieu of fractional shares) may be declared, made or paid, or set apart for payment upon, any Parity Stock or Junior Stock, nor may any Parity Stock or Junior Stock be redeemed, purchased or otherwise acquired for any consideration (or any money paid to or made available for a sinking fund for the redemption of any Parity Stock or Junior Stock) by or on behalf of the Company (except by conversion into or exchange for shares of Parity Stock or Junior Stock (in the case of Parity Stock) or Junior Stock (in the case of Junior Stock)), unless all accrued and unpaid dividends shall have been or contemporaneously are declared and paid (in cash or in kind), or are declared and a sum of cash sufficient for the payment thereof is set apart for such payment, on the Series A Preferred Stock and any Parity Stock for all dividend payment periods terminating on or prior to the date of such declaration, payment, redemption, purchase or acquisition. Notwithstanding the foregoing, if full dividends have not been paid on the Series A Preferred Stock and any Parity Stock, dividends may be declared and paid on the Series A Preferred Stock and such Parity Stock so long as the dividends are declared and paid pro rata so that the aggregate amounts of dividends declared per share on, and the amounts of such dividends declared in cash or in kind, as applicable, per share on, the Series A Preferred Stock and such Parity Stock will in all cases bear to each other the same ratio that accrued and unpaid dividends per share on the shares of Series A Preferred Stock and such other Parity Stock bear to each other.
Payment Restrictions. To the extent that Company is prohibited under applicable law or regulation, or as a consequence of administrative policy, from repurchasing the Company Option and /or Shares in full, Company shall immediately so notify Parent and thereafter deliver or cause to be delivered, from time to time, to Parent the portion of the Repurchase Price that it is no longer prohibited from delivering, within five business days after the date on which Company is no longer so prohibited; provided that, if Company at any time after delivery of a notice of repurchase pursuant to Section 7(a) is prohibited under applicable law or regulation, or as a consequence of administrative policy, from delivering to Parent the Repurchase Price in full (and Company hereby undertakes to use its reasonable best efforts to obtain all required regulatory and legal approvals and to file any required notices as promptly as practicable in order to accomplish such repurchase), Parent may revoke its notice of the Put whether in whole or to the extent of the prohibition, whereupon, in the latter case, Company shall promptly (1) deliver to Parent that portion of the Repurchase Price that Company is not prohibited from delivering and (2) deliver to Parent as appropriate, (A) a new Agreement evidencing the right of Parent to purchase that number of shares of Common Stock obtained by multiplying the number of shares of Common Stock for which the surrendered Agreement was exercisable at the time of delivery of the notice of repurchase by a fraction, the numerator of which is the Repurchase Price less the portion thereof theretofore delivered to Parent and the denominator of which is the Repurchase Price, and/or (B) to Parent, a certificate for the Company Shares it is then so prohibited from repurchasing.
Payment Restrictions. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, enter into any agreement, instrument, or other document which prohibits or restricts in any way or to otherwise, directly or indirectly, create or cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Restricted Subsidiary to (i) pay dividends, or make any other distribution in respect of its capital stock or any other equity interest or participation in its profits owned by the Borrower or any Restricted Subsidiary, or pay or repay any indebtedness owed to the Borrower or any Restricted Subsidiary, (ii) make loans or advances to the Borrower, or (iii) transfer any of its properties or assets to the Borrower or any Restricted Subsidiary (subject to the rights of any holder of a Lien on any such properties or assets which Lien is a Permitted Lien).
Payment Restrictions. You may not use the Service to transmit child support, alimony or other court-directed payments, nor to pay taxes or make other payments to government agencies. At this time, you may not make payments to foreign vendors or persons. CTC reserves the right to limit the total amount of bill payments initiated each day. You should schedule your payment dates at least seven to ten (7-10) business days in advance of the date your payment is actually due, not including any grace period. The date the merchant credits the payment depends upon the merchant’s payment processing procedures, and CTC will not be responsible for any delay in crediting the payment which is the result of the merchant’s payment processing procedures. Subject to the terms and conditions of this disclosure, you authorize us and any third-party acting on our behalf to choose the most effective method to process your payment, including without limitation, electronic, paper or some other means. Payments may be in the form of a paper draft. Use of your password is considered as signature authorization under the terms of this agreement.
Payment Restrictions. No Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such Subsidiary’s capital stock, from repaying to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s property or assets to the Company or any other Subsidiary.
Payment Restrictions. These benefit amounts shall be paid post retiremenT on the first payday of September following retirement and shall not be considered part of the final year's salary and therefore shall not be considered credible earnings. Military service credit will be allowed for retirement in accordance with IMRF’s past service credit purchase option. The retirement bonus will not be paid for years of credit based on military service.
Payment Restrictions. Notwithstanding anything to the contrary set forth herein, (a) any payment of interest on and principal of the Notes (and any payment of the Redemption Price or Make Whole Redemption Price in connection with any redemption of the Notes pursuant to Article 9) may be made only with the prior approval of the Superintendent, whenever, in his judgment, the financial condition of MBIA warrants, and (b) any such payment of interest or principal or the Redemption Price or Make Whole Redemption Price may only be made to the extent MBIA has sufficient Eligible Surplus to make such payment of interest or principal or the Redemption Price or Make Whole Redemption Price out of its Eligible Surplus (the conditions set forth in the foregoing clauses (a) and (b) are referred to herein collectively as the “Payment Restrictions”). If the Superintendent approves a payment of the Redemption Price or Make Whole Redemption Price with respect to, interest on or principal of the Notes in an amount that is less than the full amount of the Redemption Price or Make Whole Redemption Price, interest or principal then scheduled to be paid in respect of the Notes, or if as a result of any Payment Restriction MBIA is unable to pay the full amount of the Redemption Price or Make Whole Redemption Price, interest or principal then scheduled to be paid in respect of the Notes, the payment of such partial amount shall be made pro rata among Noteholders as their interests may appear.
Payment Restrictions. Until the Discharge of the Senior Indebtedness and the Discharge of the Existing Pari Passu Indebtedness shall have occurred, all payments and distributions of any kind or character (whether in cash, securities, assets, by set-off or otherwise, including any payment that may be payable by reason of the payment of any other Indebtedness of the Obligor being subordinated to the payment of such Indebtedness) or otherwise on account of the Senior Indebtedness or the Existing Pari Passu Indebtedness shall be made on a Pro Rata Pari Passu Basis. Until the Discharge of the Senior Indebtedness shall have occurred, no payment or distribution (other than payments in kind) of any kind or character (whether in cash, securities, assets, by set-off, or otherwise, including any payment that may be payable by reason of the payment of any other Indebtedness of the Obligor being subordinated to the payment of such Indebtedness) or otherwise on account of the Existing Junior Indebtedness shall be made by or on behalf of the Obligor, and no Party or Person to whom the Existing Junior Indebtedness is owed will ask, demand, sxx for, take, or receive any such payment, directly or indirectly, from or on behalf of the Obligor. Notwithstanding anything in this Section 4a to the contrary, (i) the Obligor may make, and the Existing Secured Parties and the Senior Secured Parties may receive, upon the scheduled maturity date of any Indebtedness all payments necessary to Discharge such Indebtedness, and (ii) the Obligor may make, and the Existing Secured Parties and the Senior Secured Parties may receive, regularly scheduled payments of amortized principal and interest in respect of Existing Indebtedness and Senior Indebtedness pursuant to the terms of the documentation regarding such Indebtedness (as in effect on the date hereof), provided that, no payments may be made to any Existing Secured Party under this Section 4a if any default or event of default exists under the Senior Documents or would result after giving effect to such payment.
Payment Restrictions. The Company shall not:
(a) amend or modify the Senior Facilities (including extend any scheduled final maturity date), other than in connection with a restructuring of such Senior Facilities as a result of Financial Distress of the Company; or
(b) refinance the Senior Facilities, or enter into any new credit facilities or other agreement, indenture, arrangement, commitment or other instrument, in either case which would provide for, or result in, any provision that restricts or limits in any manner:
(i) the Company’s ability to make any required payments under the Series A Convertible Preference Shares including, but not limited to:
(1) the Mandatory Redemption Price of all then outstanding Series A Convertible Preference Shares in full on the Mandatory Redemption Date;
(2) dividends on Dividend Payment Dates;
(3) the Fundamental Change Repurchase Price of all Series A Convertible Preference Shares tendered for repurchase in full on the Fundamental Change Repurchase Date;
(4) Additional Amounts; and
(5) cash in lieu of fractional Ordinary Shares upon conversion, or
(ii) the Holders’ ability to bring and or enforce claims in respect of any such payments. For the avoidance of doubt, in connection with (i) any amendment or modification of the Senior Facilities (including any extension of any scheduled final maturity date), other than in connection with a restructuring of such Senior Facilities as a result of Financial Distress of the Company, or (ii) any refinancing of the Senior Facilities, or entry into any new credit facilities or other agreement, indenture, arrangement, commitment or other instrument, the Company expects to amend, modify, replace or eliminate the “Permitted Company Securities Term Sheet” referenced in the Senior Facilities.
Payment Restrictions. The Company hereby agrees that it may not make, and the Holder hereby agrees that it will not accept, any payment or distribution with respect to the Debenture (other than the Interest Share Amount) until the Opus Loan is indefeasibly paid in full in cash.
