Examples of Permitted Payment in a sentence
In the event of a Director ceasing to be a Director as a consequence of dying, retiring or ceasing to hold office ( Retiring Director), the Directors may approve and make such payment to the Retiring Director, or his legal personal representatives or dependents as permitted under section 200F of the Corporations Act (Permitted Payment).
Partial Quotes ☒ Not permitted ☐ Permitted Payment Terms ☒ 100% within 30 days after receipt of goods, works and/or services and submission of payment documentation.
This is a major concern given the need to support sustainable job creation against a backdrop of unacceptably high rates of unemployment15 and a very large youth population that will need to join the workforce.
In the event of a Director ceasing to be a Director as a consequence of dying, retiring or ceasing to hold office ( Retiring Director), the Directors may approve and make such payment to the Retiring Director, or his legal personal representatives or dependents as permitted under division 2 of part 2D.2 of the Corporations Act (Permitted Payment).
The Guarantors, prior to the payment in full of the Obligations and the termination of all financing arrangements among the Borrower and the Lenders, shall have no right to enforce any claim with respect to the Subordinated Debt, including, without limitation, any Permitted Payment, or otherwise to take any action against the borrower or the Borrower’s Property without the Administrative Agent’s prior written approval.