Permitted Distribution Conditions definition

Permitted Distribution Conditions means, with respect to any Distribution, that (a) such Distribution is lawful; and (b) both immediately before and immediately after giving effect to such Distribution, no Default or Event of Default exists.
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Permitted Distribution Conditions means (a) no Default or Event of Default exists, (b) the Loan Party making any Distribution is Solvent, and (c) such Distribution does not violate any Requirement of Law.
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Permitted Distribution Conditions means conditions that are satisfied if immediately after giving effect to a Permitted Distribution (as certified by the Borrower (or the Collateral Manager on behalf of the Borrower) to the Administrative Agent), (i) each component of the Collateral Quality Test is satisfied, (ii) each Coverage Test is satisfied and (iii) the Portfolio Advance Rate is less than or equal to the Maximum Advance Rate.
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Examples of Permitted Distribution Conditions in a sentence

  • At any time that the Permitted Distribution Conditions are not satisfied, declare or make any Distributions, except Upstream Payments; or create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions under the Loan Documents, under Applicable Law or in effect on the Closing Date as shown on Schedule 9.1.15.


More Definitions of Permitted Distribution Conditions

Permitted Distribution Conditions means, with respect to the making of any Restricted Payment, each of the following: (a) the applicable Restricted Payment is lawful and (b) no Default or Event of Default has occurred and is continuing or would result therefrom.
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Permitted Distribution Conditions any Distributions, or payments (whether voluntary or mandatory, or a prepayment, redemption, retirement, defeasance or acquisition) with respect to any Subordinated Debt or Borrowed Money, and as to which each of the following conditions have been satisfied:
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Permitted Distribution Conditions means, with respect to any Distribution, that (a) no Default or Event of Default exists before and immediately after giving effect to such Distribution; (b) such Distribution is lawful; and (c) the Agent has received the financial statements described in Section 5.1(a)(i) for the most recent fiscal year-end of Borrower.
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Permitted Distribution Conditions has the defined meaning assigned in Section 9.4.16(a).
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Related to Permitted Distribution Conditions

  • Permitted Distribution means any of the following:

  • Permitted Dividends means dividends or distributions made by the Company on its Class A Shares, and, without duplication, the Operating Partnerships to fund such dividends or distributions, annually in an aggregate amount equal to not less than 20% of the Company’s annual Distributable Earnings or more than 30% of Distributable Earnings; provided, that, if the minimum amount of dividends or distributions eligible to be made hereunder would be $1.00 or less per Class A Share, then up to $1.00 per Class A Share (subject to appropriate adjustment in the event of any equity dividend, equity split, combination or other similar recapitalization with respect to the Class A Shares after the Issuance Date).

  • Permitted Debt means any Financial Indebtedness:

  • Permitted Deductions means the following deductions to the extent included in the gross invoiced sales price of the Product, or otherwise directly paid or incurred by the Selling Entity with respect to the sale: