Common use of Time of Payment of Distributions Clause in Contracts

Time of Payment of Distributions. The Company shall not, and shall not permit any Subsidiary to, authorize a Distribution on its capital stock that is not payable within sixty (60) days of authorization.

Appears in 7 contracts

Samples: Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc)

AutoNDA by SimpleDocs

Time of Payment of Distributions. The Company shall not, and shall not permit any Restricted Subsidiary to, authorize a Distribution on its capital stock that is not payable within sixty (60) days of authorization.

Appears in 5 contracts

Samples: Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.