Common use of Restrictions on Certain Payments Clause in Contracts

Restrictions on Certain Payments. The Investor acknowledges and agrees that, pursuant to the provisions of the Credit Agreement, the Company will be prohibited from (a) paying or declaring any dividends on or with respect to the Shares (except for dividends payable solely in stock of the Company) or (b) redeeming, retiring, purchasing or otherwise acquiring any of the Shares until such time as all indebtedness under the Credit Agreement, and any extensions, renewals or refinancings thereof, has been repaid in full, without, in any case, obtaining the prior written consent of Lender.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Vertical Communications, Inc.), Securities Purchase Agreement (M/C Venture Partners V, L.P.)

AutoNDA by SimpleDocs

Restrictions on Certain Payments. The Investor acknowledges and agrees that, pursuant to the provisions of the Credit AgreementFacilities, the Company will be prohibited from (a) paying or declaring any dividends on or with respect to the Shares (except for dividends payable solely in stock of the Company) or (b) redeeming, retiring, purchasing or otherwise acquiring any of the Shares until such time as all indebtedness under the Credit AgreementFacilities, and any extensions, renewals or refinancings thereof, has been repaid in full, without, in any case, obtaining the prior written consent of Lender.

Appears in 1 contract

Samples: Securities Purchase Agreement (Vertical Communications, Inc.)

AutoNDA by SimpleDocs

Restrictions on Certain Payments. The Investor acknowledges and agrees that, pursuant to the provisions of the Credit Loan Agreement, the Company will be prohibited from (a) paying or declaring any dividends on or with respect to the Shares (except for dividends payable solely in stock of the Company) or (b) redeeming, retiring, purchasing or otherwise acquiring any of the Shares until such time as all indebtedness under the Credit Loan Agreement, and any extensions, renewals or refinancings thereof, has been repaid in full, without, in any case, obtaining the prior written consent of Lender.

Appears in 1 contract

Samples: Securities Purchase Agreement (Vertical Communications, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!