Common use of Restrictions on Subsidiary Payments to the Company Clause in Contracts

Restrictions on Subsidiary Payments to the Company. Except as disclosed in the Registration Statement, in the Time of Sale Disclosure Package and in the Prospectus, no subsidiary of the Company is currently 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 of the Company, except as described in or contemplated by the Time of Sale Disclosure Package and the Prospectus.

Appears in 2 contracts

Samples: Purchase Agreement (Recro Pharma, Inc.), Purchase Agreement (Recro Pharma, Inc.)

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Restrictions on Subsidiary Payments to the Company. Except as disclosed in the Registration Statement, in the Time of Sale Disclosure Package and in the Prospectus, no the Company’s subsidiary of the Company is not currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such the 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 the subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Time of Sale Disclosure Package and the Prospectus.

Appears in 1 contract

Samples: Purchase Agreement (Zosano Pharma Corp)

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Restrictions on Subsidiary Payments to the Company. Except as disclosed in as part of the Registration Statement, in the Time of Sale Disclosure Package and in the Prospectus, no subsidiary of the Company is currently 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 of the Company, except as provided by applicable state law or described in or contemplated by the Time of Sale Disclosure Package and the Prospectus.

Appears in 1 contract

Samples: Purchase Agreement (Orion Energy Systems, Inc.)

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