Permitted Payee definition

Permitted Payee means any future, current or former director, officer, member of management, manager, employee, independent contractor or consultant (or any Immediate Family Member or transferee of any of the foregoing) of the Borrower (or any Parent Company or any subsidiary).

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Permitted Payee means any Company Person (or any Affiliate, Permitted Transferee or other transferee of any of the foregoing).

Permitted Payee means any future, current or former director, officer, member of management, manager, employee, independent contractor or consultant (or any Immediate Family Member or transferee of any of the foregoing) of the Company (or any subsidiary).

Examples of Permitted Payee in a sentence

• Any payments or property received by the Permitted Holder or any Permitted Payee in breach of this Section 7 shall be held by the Permitted Holder or such Permitted Payee in trust and promptly delivered in the form received to the holder of Senior Indebtedness entitled to receive the same (any such payment or property delivered by the Permitted Holder or such Permitted Payee to any holder of Senior Indebtedness, a “Turnover Payment”).

• Any payments or property received by the Permitted Holder or any Permitted Payee in breach of this Section 8 shall be held by the Permitted Holder or such Permitted Payee in trust and promptly delivered in the form received to the holder of Guarantor Senior Indebtedness entitled to receive the same (any such payment or property delivered by the Permitted Holder or such Permitted Payee to any holder of Guarantor Senior Indebtedness, a “Guarantor Turnover Payment”).

• To the maximum extent permitted under applicable Law, ▇▇▇▇▇ agrees that any Turnover Payment shall be treated as a payment by ▇▇▇▇▇ on account of such Senior Indebtedness and shall not satisfy ▇▇▇▇▇’s obligation with respect to any amount due to the Permitted Holder or such Permitted Payee under this Deferred Payment Agreement (ZAI).

• To the maximum extent permitted under applicable Law, ▇▇▇▇▇ agrees that any Turnover Payment shall be treated as a payment by ▇▇▇▇▇ on account of such Senior Indebtedness and shall not satisfy ▇▇▇▇▇’s obligation with respect to any amount due to the Permitted Holder or such Permitted Payee under this Deferred Payment Agreement (PD).

• To the maximum extent permitted under applicable Law, the Guarantor agrees that any Guarantor Turnover Payment shall be treated as a payment by the Guarantor on account of such Guarantor Senior Indebtedness and shall not satisfy the Guarantor’s obligation with respect to any amount due to the Permitted Holder or such Permitted Payee under this Guarantee (PD).

More Definitions of Permitted Payee

Permitted Payee means, as of any date of determination, the Permitted Holder or any permitted assignee of all or any portion of the Deferred Payments (ZAI) and the rights and interests therein and thereto pursuant to the terms and conditions of Section 16.

Permitted Payee means either:

Permitted Payee means, collectively (i) any future, current or former officer, director, manager, member, member of management, employee, consultant, distributor or independent contractor of the Company, any Subsidiary or any direct or indirect parent company thereof or (ii) any Affiliate, Permitted Transferee or other transferee of any of the foregoing Persons listed in clause (i).

Permitted Payee means any future, current or former director, officer, member of management, manager, employee, independent contractor or consultant and/or their respective estates, heirs, family members, spouses, domestic partners, former spouses or former domestic partners (or any Affiliate or transferee of any of the foregoing) of any Borrower (or any Restricted Subsidiary). “Permitted Ratio Debt” means Indebtedness of any Borrower or any Restricted Subsidiary so long as on a Pro Forma Basis after giving effect to the incurrence of such Indebtedness, and the application of the proceeds thereof (without netting the cash proceeds thereof, but giving effect to any related Subject Transaction) and to any relevant Subject Transaction (and, in the case of any such Indebtedness in the form of revolving loans or a revolving facility then being established, assuming a full drawing thereunder), (i) if such Indebtedness is secured by a Lien ranking pari passu with the Lien securing the Loan Document Obligations on any Collateral, the First Lien Net Leverage Ratio does not exceed the greater of (x)

Permitted Payee has the meaning set forth in the Deferred Payment Agreement (PD).

Permitted Payee has the meaning set forth in the Deferred Payment Agreement (PI).

Permitted Payee has the meaning set forth in the Deferred Payment Agreement (ZAI).