Restrictions on Distributions and fees. A Transaction Party must not: (a) make any Distribution; or (b) pay any director fees, management fees, consultancy fees or other like payments to any director or Affiliate of a Transaction Party unless those fees or other payments are: (1) reasonable and no more or less favourable than it is reasonable to expect would be the case if the relevant persons were dealing with each other on arm’s length terms; or (2) paid with the Agent’s prior written consent.
Appears in 3 contracts
Samples: Facility Agreement (Bullfrog Gold Corp.), Neutron Energy Facility Extension (Neutron Energy, Inc.), Facility Agreement (Neutron Energy, Inc.)
Restrictions on Distributions and fees. A Transaction Party must not:
(a) make any DistributionDistribution other than a Distribution made in accordance with clause 3.2 which would not result in a violation of clauses 8.25 and 10.3(b); or
(b) pay any director fees, management fees, consultancy fees or other like payments to any director or Affiliate of a Transaction Party unless those fees or other payments are:
(1) reasonable and are no more or less favourable than it is reasonable to expect would be the case if the relevant persons were dealing with each other on at arm’s length termslength; or
(2) paid with the Agent’s prior written consent.
Appears in 2 contracts
Samples: Facility Agreement (Apollo Gold Corp), Facility Agreement (Apollo Gold Corp)
Restrictions on Distributions and fees. A Transaction Party must not:
(a) make any Distribution; or
(b) pay any director fees, management fees, consultancy fees or other like payments to any director or Affiliate Associate of a Transaction Party unless those fees or other payments are:
(1) reasonable and are no more or less favourable than it is reasonable to expect would be the case if the relevant persons were dealing with each other on at arm’s length termslength; or
(2) paid with the Agent’s prior written consent.
Appears in 1 contract
Restrictions on Distributions and fees. A Transaction Party must not:
(a) make any Distribution other than a Permitted Distribution; or
(b) pay any director fees, management fees, consultancy fees or other like payments to any director director, Associate, or Affiliate Related Body Corporate of a Transaction Party unless those fees or other payments are:
(1) reasonable and are no more or less favourable than it is reasonable to expect would be the case if the relevant persons Persons were dealing with each other on at arm’s length termslength; or
(2) paid with the Agent’s prior written consent.
Appears in 1 contract
Samples: Syndicated Convertible Loan Facility Agreement (Samson Oil & Gas LTD)
Restrictions on Distributions and fees. A Transaction Party must not:
(a) make any DistributionDistribution other than a Distribution made in accordance with clauses 12.3(b)(11) and 12.3(c); or
(b) pay any director fees, management fees, consultancy fees or other like payments to any director or Affiliate Associate of a Transaction Party unless those fees or other payments are:
(1) reasonable and are no more or less favourable than it is reasonable to expect would be the case if the relevant persons were dealing with each other on at arm’s length termslength; or
(2) paid with the Agent’s prior written consent.
Appears in 1 contract
