Restricted Payments and Purchases. No Loan Party shall, or shall permit any Subsidiary of a Loan Party to, directly or indirectly declare or make any Restricted Payment or Restricted Purchase, or set aside any funds for any such purpose, other than Dividends on common stock which accrue (but are not paid in cash) or are paid in kind or Dividends on preferred stock which accrue (but are not paid in cash) or are paid in kind; provided, that:
Appears in 3 contracts
Samples: Loan and Security Agreement (R F Industries LTD), Loan and Security Agreement (LIVE VENTURES Inc), Loan and Security Agreement (Ranger Energy Services, Inc.)
Restricted Payments and Purchases. No Loan Borrower Party shall, or shall permit any Subsidiary of a Loan Borrower Party to, directly or indirectly declare or make any Restricted Payment or Restricted Purchase, or set aside any funds for any such purpose, other than Dividends on common stock which accrue (but are not paid in cash) or are paid in kind or Dividends on preferred stock which accrue (but are not paid in cash) or are paid in kind; provided, that:however, any wholly owned Subsidiary of the Borrower may make Restricted Payments to the Borrower.
Appears in 2 contracts
Samples: Possession Credit Agreement, Possession Credit Agreement
