Permitted Preferred Payments definition

Permitted Preferred Payments means accrued and unpaid cash dividends payable by the Parent Guarantor to the holders of Preferred Interests; provided, however, that no such payments shall be permitted prior to satisfaction of the PPP Condition.
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Permitted Preferred Payments means any and all payments to holders of, or otherwise on, Existing Preferred Units, including in respect of distribution amounts (including any penalty or default amounts), liquidation preference, stated value, redemption amounts and accretion amounts (excluding any payments on Class B Preferred Units and Class C Preferred Units that are not required in order to permit the redemption, repurchase or other acquisition or retirement of, or any other payments in respect of, in whole or in part, the Class D Preferred Units).
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Permitted Preferred Payments means accrued and unpaid cash dividends payable by the Parent Guarantor to the holders of Preferred Interests that are outstanding on the Closing Date.
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Examples of Permitted Preferred Payments in a sentence

  • Except for Permitted Preferred Payments, make or permit any other Borrower to, directly or indirectly (i) declare, order, pay or make any Restricted Payment or (ii) set aside any sum or property therefor or exercise any set-off or similar rights of any Borrower, if any, with respect to any indebtedness that is the subject of an intercreditor and subordination agreement.


More Definitions of Permitted Preferred Payments

Permitted Preferred Payments means the payment of dividends in respect of the Series 2002-A Preferred Stock of Parent, the Amended Series 2001-A Preferred Stock and the Series 2003-A Preferred Stock to the extent each of the following conditions precedent is met at the time such dividends are declared and at the time such dividends are paid: (a) such dividends are made at the times, in the amounts and otherwise in accordance with the applicable Certificate of Designation as in effect on the Closing Date, or in such lesser amount as may be required thereunder pursuant to any amendment or modification of such certificates of designation; (b) no Default or Event of Default shall have occurred and be continuing as of either of such dates; and (c) no Default or Event of Default shall result from the payment or declaration of such dividend.
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Permitted Preferred Payments means the payment of dividends in respect of the Series 2002-A Preferred Stock of Parent, the Amended Series 2001-A Preferred Stock, the Series 2003-A Preferred Stock, the Series 2006-A Preferred Stock and the Series 2006-B Preferred Stock of Parent, and the Series 2007-A Preferred Stock and the Series 2007-B Preferred Stock of Parent (in each case when issued in whole or part as contemplated by Schedule 5.8) to the extent each of the following conditions precedent is met at the time such dividends are declared and at the time such dividends are paid: (a) such dividends are made at the times, in the amounts and otherwise in accordance with the applicable Certificate of Designation as in effect on the date of Amendment No. 6, or in such lesser amount as may be required thereunder pursuant to any amendment or modification of such certificates of designation; (b) no Default or Event of Default shall have occurred and be continuing as of either of such dates; and (c) no Default or Event of Default shall result from the payment or declaration of such dividend."
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Related to Permitted Preferred Payments

  • Permitted Payment as defined in Subsection 8.2(b).

  • Restricted Payments as defined in Section 7.6.

  • Restricted Payment means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s stockholders, partners or members (or the equivalent Person thereof).

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Prohibited Payment has the meaning set forth in Section 3.17(b).