Ordinary Course Payments definition

Ordinary Course Payments means payments made directly by any VSE Entity to another VSE Entity; provided that such payments are made (a) in the ordinary course of such VSE Entity’s business, (b) for products actually delivered or services actually performed, and (c) pursuant to an “arm’s length” transaction (i.e., a transaction that would otherwise be made with an unrelated and unaffiliated third party); it being understood and agreed that payments in respect of normal and customary salary, compensation and benefits, including reasonable severance amounts, for employees, officers and directors of a VSE Entity constitute “Ordinary Course Payments” except to the extent expressly prohibited or limited pursuant to this Agreement.

Ordinary Course Payments means payments made directly by a Loan Party to any Subsidiary that is not a Loan Party or to any Affiliate; provided that such payments are made (a) in the ordinary course of such Loan Party’s business, (b) for products actually delivered or services actually performed, and (c) pursuant to fair and reasonable terms substantially as favorable to such Loan Party as would be obtainable by such Loan Party at the time in a comparable arm’s length transaction with a Person other than a Subsidiary that is not a Loan Party or other than an Affiliate.

Ordinary Course Payments means payments made directly by a Borrower to any non-Borrower subsidiary or Affiliate; provided that that such payments are made (i) in the ordinary course of such Borrower’s business, (ii) for products actually delivered or services actually performed, and (iii) pursuant to an “arm’s length” transaction (i.e., on terms and conditions no less beneficial than the terms and conditions that would otherwise be agreed to with an unrelated and unaffiliated third party).

Examples of Ordinary Course Payments in a sentence

• The provisions of this subsection 6.5 shall not be breached by the payment of any Restricted Junior Payments to Holdings for the purposes of Holdings making a dividend payment under clause (x) of Holdings Ordinary Course Payments definition within 60 days after the declaration of the dividend by Holdings, if at such date of declaration, the making of such payment would not have been in violation of this subsection.

• The provisions of this Section 8.5 shall not be breached by the payment of any Restricted Payments to Holdings for the purposes of Holdings making a dividend payment under clause (iii) of the Holdings Ordinary Course Payments definition within 60 days after the declaration of the dividend by Holdings, if at such date of declaration, the making of such payment would not have been in violation of this Section.

• The provisions of this Section 8.5 shall not be breached by the payment of any Restricted Payments to Holdings for the purposes of Holdings making a dividend payment under clause (iv) of Holdings Ordinary Course Payments definition within 60 days after the declaration of the dividend by Holdings, if at such date of declaration, the making of such payment would not have been in violation of this Section.

• As used herein, “End Date” shall mean the date which is the earlier of (x) six (6) years and one day after DTE’s receipt of the Termination Payment, and (y) the date of the consummation of a plan of reorganization with respect to PGET that does not provide for the survival of any claims or causes of actions against DTE with respect to the Termination Payment or the Ordinary Course Payments.

• The Borrower acknowledges and agrees that the Subordination Agreements remain in full force and effect and are hereby ratified, confirmed and approved and agree that, except as otherwise provided herein, they shall not make any payments with respect to the subordinated debt until such time as the Obligations have been paid in full, with the exception that Venture can receive the Ordinary Course Payments.

More Definitions of Ordinary Course Payments

Ordinary Course Payments means (a) transfer pricing payments made directly by any ICF Entity to any other ICF Entity, and (b) payments made directly by any ICF Entity to any other ICF Entity; provided that any such payments are made (i) in the ordinary course of such ICF Entity’s business, (ii) for products actually delivered or services actually performed, (iii) pursuant to an "arm's length" transaction (i.e., a transaction that would otherwise be made with an unrelated and unaffiliated third party), and (iv) without violating any other term or provision of this Agreement.

Ordinary Course Payments means (a) transfer pricing payments made directly by a Borrower to any other Loan Party, and (b) payments made directly by a Borrower to any other Loan Party; provided that any such payments are made (i) in the ordinary course of such Borrower’s business, (ii) for products actually delivered or services actually performed, and (iii) pursuant to an “arm’s length” transaction (i.e., a transaction that would otherwise be made with an unrelated and unaffiliated third party).

Ordinary Course Payments means payments made directly by a Borrower to any Non-Borrower Affiliate; provided that such payments are made (i) in the ordinary course of such Borrower’s business, (ii) for products actually delivered or services actually performed, and (iii) pursuant to an “arm’s length” transaction (i.e., a transaction that would otherwise be made with an unrelated and unaffiliated third party).

Ordinary Course Payments means (a) transfer pricing payments made directly by any Loan Party and their respective Subsidiaries to any other Loan Party, or their respective Subsidiary, in the ordinary course of such Loan Party’s or its Subsidiaries’ business, and (b) payments made directly by any Loan Party or their respective Subsidiary to any other Loan Party or their respective Subsidiary; provided that any such payments are made

Ordinary Course Payments means (a) transfer pricing payments made directly by any Loan Party and their respective Subsidiaries to any other Loan Party, or their respective Subsidiary, in the ordinary course of such Loan Party’s or its Subsidiaries’ business, and (b) payments made directly by any Loan Party or their respective Subsidiary to any other Loan Party or their respective Subsidiary; provided that any such payments are made (i) in the ordinary course of such Loan Party’s or its Subsidiaries’ business, (ii) for products actually delivered or services actually performed, (iii) pursuant to an “arm’s length” transaction (i.e., a transaction that would otherwise be made with an unrelated and unaffiliated third party), and (iv) without violating any other term or provision of this Agreement.

Ordinary Course Payments means payments made directly by a Borrower to any Non-Borrower Affiliate; provided that such payments are made

Ordinary Course Payments means payments made directly by a Borrower to any Non-Borrower Affiliate; provided that such payments are made (a) in the ordinary course of such Borrower’s business, (b) for products actually delivered or services actually performed, and (c) pursuant to an “arm’s length” transaction (i.e., a transaction that would otherwise be made with an unrelated and unaffiliated third party); it being understood and agreed that payments in respect of normal and customary salary, compensation and benefits, including reasonable severance amounts, for employees, officers and directors of a Borrower constitute “Ordinary Course Payments” except to the extent expressly prohibited or limited pursuant to this Agreement.