Restricted Disbursements. Each Borrower will not, and will not permit any of its Subsidiaries to approve, make, incur or commit to incur any Restricted Disbursements after the Execution Date other than:
(a) advances or extensions of credit on terms customary in the industry involved in the form of accounts receivable incurred, and investments, loans, and advances made in settlement of such accounts receivable, all in the ordinary course of business;
(b) investments in cash or Cash Equivalents;
(c) dividends paid by any direct or indirect Subsidiary of the Parent to the Parent directly or indirectly
(d) Indebtedness between the Parent and its Subsidiaries to the extent permitted by Section 6.01;
(e) investments in any Credit Party;
(f) Capital Expenditures (including Capital Leases) of not more than (i) $7,500,000 during the remainder of calendar year 1997; (ii) $16,500,000 for calendar year 1998; and (iii) one hundred ten percent (110%) of the total for the prior calendar year for each calendar year after 1998 during the term hereof;
(g) acquisitions by the Parent or any of its Subsidiaries of capital stock or other equity interests in any other Person the consideration for which is: (y) common stock of the Parent or (z) cash of not more than $7,500,000.00 in any single transaction or $22,500,000.00 in the aggregate (in each case, including assumption of debt) during the term hereof; provided that no Default exists or would occur as a result of such acquisition;
(h) investments in or loans to non-Credit Party Subsidiaries of not more than $5,000,000.00 (or its Equivalent thereof in Dollars) in excess of the investments or loans outstanding on the Execution Date outstanding in the aggregate at any one time; provided, that if any Person in which such Investment is made becomes a Credit Party, the actual amount of the dollar Investment in such Person shall no longer be considered an Investment under this Section 6.07(h);
(i) other Restricted Disbursements of investments in capital stock of a Borrower in respect of pension plans, cash paid in connection with stock option programs, employee stock buybacks, and similar items not to exceed $500,000.00 per fiscal year of the Parent;
(j) investments currently shown on Schedule 6.07(j);
(k) other investments of not more than $500,000 in the aggregate per fiscal year of the Parent; and
(l) investments acquired incidentally to and in conjunction with acquisitions of assets permitted by this Section 6.07; provided that such investments do not c...
Restricted Disbursements. The Borrower will not, and will not permit any of its Subsidiaries to approve, make, incur or commit to incur any Restricted Disbursements other than:
(a) advances or extensions of credit on terms customary in the industry involved in the form of accounts receivable incurred, and investments, loans, and advances made in settlement of such accounts receivable, all in the ordinary course of business;
(b) Permitted Investments;
(c) Capital Expenditures by the Borrower to develop its Proved Reserves, Capital Expenditures by any Subsidiary to develop its Proved Reserves, and additional Capital Expenditures by the Borrower and its Subsidiaries in an amount not to exceed $5,000,000 in the aggregate during any six-month period commencing on any October 1 or April 1, as the case may be;
(d) preferred stock dividends not to exceed $365,928 per annum so long as no Event of Default has occurred and is continuing or would be caused by payment of such preferred stock dividend;
(e) dividends paid by any Subsidiary of the Borrower to the Borrower or any of its Subsidiaries and any minority shareholders of such Subsidiary, so long as such dividend is paid at a uniform rate to all shareholders of such Subsidiary and no Event of Default would exist after giving effect to such payment;
(f) the repayment of the CGGS Debentures Indebtedness;
(g) payments by the Borrower or any Subsidiary on account of Indebtedness permitted under Section 6.01;
(h) investments or capital contributions not to exceed $2,000,000 in the aggregate made by the Borrower in or to any Wholly Owned Subsidiary; and
(i) investments or capital contributions made by any Subsidiary of the Borrower in or to the Borrower or any Wholly Owned Subsidiary.
Restricted Disbursements. 60 Section 6.11 Lines of Business................................................................................61 Section 6.12 Transactions with Affiliates.....................................................................61 Section 6.13 Charter and Leases...............................................................................61 Section 6.14 Rig Management...................................................................................62 Section 6.15
Restricted Disbursements. 30 Section 6.10. Lines of Business. . . . . . . . . . . . . . . . . . . . .31 Section 6.11. Transactions with Affiliates . . . . . . . . . . . . . . .31
Restricted Disbursements. The Borrower will not approve, make, incur or commit to incur any Restricted Disbursements other than:
(a) advances or extensions of credit on terms customary in the industry involved in the form of accounts receivable incurred, and investments, loans, and advances made in settlement of such accounts receivable, all in the ordinary course of business;
(b) Permitted Investments;
(c) purchases of not more than 402,000 shares of the Borrower's common stock under the Borrower's previously announced stock repurchase program;
(d) investments or capital contributions made by the Borrower in or to Xxxxxxxx Redeco not to exceed $2,500,000 during any calendar year or $5,000,000 in the aggregate; and
(e) the Restricted Disbursements set out on SCHEDULE 6.09.
Restricted Disbursements. 44 Section 6.08 Lines of Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Section 6.09 Transactions with Affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Section 6.10 Restrictions on Subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Restricted Disbursements. Parent will not, and will not permit any of its Subsidiaries, directly or indirectly, make any Restricted Disbursements except:
Restricted Disbursements. The Borrower will not, and will not permit any of its Subsidiaries to approve, make, incur or commit to incur any Restricted Disbursements other than:
(a) advances or extensions of credit on terms customary in the industry involved in the form of accounts receivable incurred, and investments, loans, and advances made in settlement of such accounts receivable, all in the ordinary course of business; (b) Permitted Investments;
Restricted Disbursements. The Borrower will not, and will not permit any of its Subsidiaries to approve, make, incur or commit to incur any Restricted Disbursements other than:
(a) advances or extensions of credit on terms customary in the industry involved in the form of accounts receivable incurred, and investments, loans, and advances made in settlement of such accounts receivable, all in the ordinary course of business;
(b) Permitted Investments;
(c) purchases of not more than 402,000 shares of the Borrower's common stock under the Borrower's previously announced stock repurchase program;
(d) dividends or other payments by any of the Borrower's Subsidiaries to the Borrower or any other Subsidiary of the Borrower;
(e) investments or capital contributions made by the Borrower in or to Xxxxxxxx Redeco not to exceed $2,500,000 during any calendar year or $5,000,000 in the aggregate; and
(f) the Restricted Disbursements set out on SCHEDULE 6.09.
Restricted Disbursements. The Company will not make or commit to make any Restricted Disbursements except:
(a) Permitted Investments;
(b) Capital Expenditures made in connection with the exploration and development of the Initial Prospects and such other Capital Expenditures as may be agreed to in writing by the Noteholders;
(c) advances or extension of credit on terms customary in the oil and gas industry in the form of accounts receivable made in the ordinary course of business; and
(d) so long as no Default or Event of Default has occurred and is continuing, dividends to Parent that are used by Parent to make Permitted Shareholder Debt Payments and Permitted Preferred Stock Dividends.
