Examples of Permitted Restricted Payment in a sentence
All Dividends, including Compounded Dividends, are prior to and in preference over any dividend on any Junior Stock and shall be declared and fully paid before any dividends are declared and paid, or any other distributions or redemptions are made, on any Junior Stock (except pursuant to any Permitted Restricted Payment).
For purposes of clarification, this Section 1011 shall not apply to any Restricted Payment or Permitted Restricted Payment permitted by Section 1009.
With respect to (a) payment of dividends and (b) distribution of assets upon, or in connection with, any redemption under Section 6 or Section 7, the Series A Preferred Securities shall rank senior to all Junior Stock (except pursuant to any Permitted Restricted Payment).
Furthermore, to the extent that any Restricted Payment is made other than during the Additional Negative Covenant Period, such Restricted Payment shall continue to be permitted hereunder and shall not count against the Annual Permitted Restricted Payment Basket during the Additional Negative Covenant Period.
Restricted Payments in any fiscal year of Harley shall be deemed to use first, the Annual Permitted Restricted Payment Basket for such fiscal year and, second, any amount carried forward to such fiscal year pursuant to this sentence.