Payment Prohibition definition

Payment Prohibition means the terms of the restructure of certain pension schemes of one or more of Halcrow Holdings Limited and its Subsidiaries that prohibit one or more of Halcrow Holdings Limited and its Subsidiaries from (i) paying any dividends, making other distributions, or repaying or prepaying any Indebtedness provided to one or more of the Halcrow Entities from time to time by any Borrower or any subsidiary of a Borrower and (ii) making loans or advances or transferring any property or assets to any Borrower or any subsidiary of a Borrower for a period of time.
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Payment Prohibition means, with respect to any Income Entitlement payable to the U.K. Company on any Interest Payment Date (other than in connection with a redemption or mandatory repurchase of the Preference Shares for cash), (i) an Exchange Event has occurred on or prior to such Interest Payment Date, (ii) the amount of such Income Entitlement payable on such Interest Payment Date, together with the aggregate amount of dividends paid on or before such date during the then current fiscal year of the Depositor on any preference shares or ordinary shares of the Depositor, would exceed the Depositor's earnings during the prior fiscal year, or (iii) the payment of such Income Entitlement would be prohibited or limited by applicable law, regulation or order or by any instrument or agreement to which the Depositor is subject.
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Payment Prohibition means the terms of the restructuring of certain pension schemes of one or more of the Halcrow Entities that prohibit one or more of Halcrow Entities from (i) paying any dividends, making other distributions, or repaying or prepaying any Indebtedness provided to one or more of the Halcrow Entities from time to time by the Issuer or any Subsidiary of Issuer and (ii) making loans or advances or transferring any property or assets to the Issuer or any Subsidiary of the Issuer for a period of time.
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Examples of Payment Prohibition in a sentence

  • In the event that payment hereunder is permitted to resume after a Payment Prohibition Period, Maker shall only be obligated to pay the current principal and interest, commencing on the first day of the month after the first full month after the termination of such Payment Prohibition Period.

  • In such event, all unpaid principal and interest shall accrue during such Payment Prohibition Period and shall become due and payable on the Maturity Date.

  • Notwithstanding the foregoing, Income Entitlements shall only be paid if (i) the Distribution Trust has funds then on hand and available in the Payment Account for the full payment of such Income Entitlements and (ii) the Property Trustee has not received from the Depositor notice of the occurrence of a Payment Prohibition prior to such Interest Payment Date.

  • Notwithstanding the foregoing, Income Entitlements shall only be paid if (i) the Distribution Trust has funds then on hand and available in the Payment Account for the full payment of such Income Entitlements and (ii) the Property Trustee has not received notice from the Depositor pursuant to the Common Securities Subscription Agreement of the occurrence of a Payment Prohibition prior to such Interest Payment Date.

  • If a league does not exist within 100 air miles of the student-athlete’s residence, a student- athlete may participate in the summer league located closest to the student’s official residence.c. Payment Prohibition.

  • At any time when a Payment Prohibition Trigger is in effect, and until such time as the Payment Prohibition Period giving rise to such Payment Prohibition Trigger has expired, the Optionee Group shall have the right to notify Agent in writing of its intention to exercise the Purchase Option hereunder, which written notice shall then have the same effect as if the Optionee Group had elected to exercise the Purchase Option following receipt of a Senior Lender Notice.

  • Each Junior Lender shall, however, be entitled to accrue interest at any post default rate which may be applicable under such Junior Lender’s Subordinated Loan Documents during any Payment Prohibition Period, and shall be entitled to add the amount of such accrued, unpaid default interest to the then outstanding principal balance of the applicable Subordinated Indebtedness.

  • Request to approve Resolution Approving One-Time Exemption of Debt Payment Prohibition for the Houston County EMS Association Regarding Cottonwood Volunteer Rescue 4.

  • Upon the occurrence of a Payment Prohibition Trigger, the Optionee Group shall have the option to exercise its right to purchase the Senior Loan at any time thereafter when the Payment Prohibition Period giving rise to such Payment Prohibition Trigger remains in effect.


More Definitions of Payment Prohibition

Payment Prohibition means, with respect to any Income Entitlement payable to the U.K. Company on any Interest Payment Date, other than in connection with a redemption, reduction in capital followed by redemption or buy-back of NAB Preference Shares, (i) an Exchange Event has occurred prior to such date, (ii) the amount of such Income Entitlement payable on such date, together with the aggregate amount of dividends paid on or before such date during the then current fiscal year of the Depositor on any preference shares or ordinary shares of the Depositor, would exceed the Depositor's earnings during the prior fiscal year, or (iii) the payment of such Income Entitlement would be prohibited or limited by applicable law, regulation or order or by any instrument or agreement to which the Depositor is subject.
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Related to Payment Prohibition

  • Crime-related prohibition means an order of a court

  • Violent juvenile felony means any of the delinquent acts enumerated in subsection B or C of

  • Violent felony means the same as that term is defined in Section 76-3-203.5.

  • Exhibition Venue means the Hong Kong Convention and Exhibition Centre situated at 1 Expo Drive, Wan Chai, Hong Kong or such other venue designated by the Organiser and notified to the Exhibitor in writing prior to the commencement of the Exhibition.

  • Expert advice or assistance means advice or assistance derived from scientific, technical, or other specialized knowledge.

  • Protective proceeding means a judicial proceeding in which a protective order is sought or has been issued.

  • Enforcement Proceeds means the gross proceeds from the realisation of Vehicles in respect of Purchased Receivables and from the enforcement of any other Ancillary Rights.

  • Post-Default Rate means, in respect of any principal of any Loan or any other Obligation that is not paid when due (whether at stated maturity, by acceleration, by optional or mandatory prepayment or otherwise), a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus four percent (4.0%).

  • Court of competent jurisdiction means a federal court, or a state court that entered an order in a child custody proceeding involving an Indian child, as long as the state court had proper subject matter jurisdiction in accordance with this chapter and the laws of that state, or a tribal court that had or has exclusive or concurrent jurisdiction pursuant to 25 U.S.C. Sec. 1911.

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • Pattern of racketeering activity means the planned, ongoing, continuous or repeated participation or involvement in any offence referred to in Schedule 1 and includes at least two offences referred to in Schedule 1, of which one of the offences occurred after the commencement of this Act and the last offence occurred within 10 years (excluding any period of imprisonment) after the commission of such prior offence referred to in Schedule 1;

  • Intimidating, threatening, abusive, or harming conduct means, but is not limited to, conduct that does the following:

  • Professional Judgement shall be defined as judgement that is informed by professional knowledge of curriculum expectations, context, evidence of learning, methods of instruction and assessment, and the criteria and standards that indicate success in student learning. In professional practice, judgement involves a purposeful and systematic thinking process that evolves in terms of accuracy and insight with ongoing reflection and self-correction.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Current Proceeding means any proceeding conducted under any provisions of this subsection that

  • Adjudicative proceeding means the procedure to be followed in contested cases, as set forth in RSA 541-A:31 through RSA 541-A:36.

  • Secure detention means the temporary care of juveniles who require secure custody in physically restricting facilities:

  • Relief means any loss, relief, allowance, exemption, set-off, deduction, right to repayment or credit or other relief of a similar nature granted by or available in relation to Tax pursuant to any legislation or otherwise;

  • Competent Court of Law means any court or tribunal or any similar judicial or quasi- judicial body in India that has jurisdiction to adjudicate upon issues relating to this Agreement;

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Forcible felony means any crime defined in Iowa Code section 702.11. This includes felonious child endangerment, assault, murder, sexual abuse, kidnapping, robbery, arson in the first degree, or burglary in the first degree. Forcible felonies are not willful injury in violation of Iowa Code section 708.4, subsection 2; sexual abuse in the third degree committed between spouses; sexual abuse in violation of Iowa Code section 709.4, subsection 2, paragraph “c,” subparagraph (4); or sexual exploitation by a counselor or therapist in violation of Iowa Code section 709.15.

  • Non-Paying Party is the Party that has not made payment by the Bill Due Date of all amounts within the bill rendered by the Billing Party.

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Criminal proceeding means a proceeding instituted by means of the swearing of an information, the laying of a charge or the return of an indictment, before a Court of competent jurisdiction in Canada with jurisdiction to hear and determine the charges referred to therein, alleging or charging that the "Insured" has contravened the provisions of any Provincial or Federal statute, including the Criminal Code, R.S.C. 1985 ch. C-46 as amended, which creates an offence or crime and which provides for conviction thereunder, whether by way of summary conviction or indictment, and as a result of which the "Insured" is liable to be convicted, fined or sentenced to some form of imprisonment or other punishment.

  • Racketeering activity means to commit, to attempt to commit, to conspire to commit, or to solicit, coerce, or intimidate another person to commit:

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.