Permitted Restricted Payment means the any of the following:
Permitted Restricted Payment means:
Permitted Restricted Payment means any of the following transactions: (a) any (i) dividend or other distribution (whether in cash, securities or other property) with respect to any of the Borrower’s capital stock or other equity interests issued by the Borrower, or (ii) payment (whether in cash, securities or other property) on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any of the Borrower’s capital stock or other equity interests, in each of (i) and (ii), pursuant to and in accordance with stock option plans or other benefit plans (including with respect to performance shares issued in the ordinary course of business) for present or former officers, directors, consultants or employees of the Borrower in the ordinary course of business consistent with past practice; and (b) the payment of cash in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or exercisable for any of the Borrower’s capital stock or other equity interests.
Examples of Permitted Restricted Payment in a sentence
The Borrower will not declare or make, or allow to be declared or made, any Restricted Payment, except: (a) the Borrower may declare or make any Restricted Payment payable solely in shares of the common stock of the Borrower, and (b) the Borrower may declare or make any Permitted Restricted Payment if, immediately before and after giving effect thereto, either (i) no Event of Default shall exist or would occur, or (ii) no principal of any Loan shall or would be outstanding.
More Definitions of Permitted Restricted Payment
Permitted Restricted Payment means payments in cash in an amount equal to the compound portion of interest on any Inter-Company Deeply Subordinated Debt.
Permitted Restricted Payment means (a) so long as no Triggering Event has occurred, any dividend or distribution by Partners of “Available Cash” to the members of Partners, as “Available Cash” is defined and calculated in Partners’ Operating Agreement and only to the extent permitted by such operating agreement, and any corresponding dividend or distribution by the Borrower to Partners to enable it to make such dividend or distribution, (b) so long as no Triggering Event has occurred, any repurchase by Partners of its membership units, in an aggregate amount not to exceed $10,000,000 (whether pursuant to Partners’ Savings and Retention Plan, Long Term Incentive Plan or otherwise) from and after the Closing Date, (c) other Restricted Payments made to Partners that are necessary to enable Partners to pay its expenses incurred in the ordinary course of business, including payments pursuant to the Omnibus Agreement, professional expenses, directors fees, transactional expenses incurred in connection with a Permitted Acquisition, and (d) payments with respect to Subordinated Indebtedness so long as such payment is expressly permitted under the terms of the Subordination Agreement with respect to such Subordinated Indebtedness and no Default or Event of Default exists at the time of such payment or would result therefrom.
Permitted Restricted Payment means any of the following:
Permitted Restricted Payment means a Restricted Payment made by Holdings and any of its Subsidiaries:
Permitted Restricted Payment means a Restricted Payment made or to be made in compliance with Clause 6.12(A)(6).
Permitted Restricted Payment means any Restricted Payment made with respect to any Equity Interests of the Borrower or any Subsidiary so long as (a) both immediately before and immediately after giving effect thereto, no Event of Default exists or shall have occurred as a result thereof, (b) the Borrower is in pro forma (as provided in Section 1.3) compliance with the financial covenants set forth in Section 8.7 as of the date of such Restricted Payment and (c) the amount of such Restricted Payment, when combined with the aggregate amount of all other Restricted Payments made during such Fiscal Year and prior to such Restricted Payment, shall not cause the Permitted Restricted Payment Limit in effect at the time of such Restricted Payment for such Fiscal Year to be exceeded.
Permitted Restricted Payment means the payment or declaration of any dividend by the Company or the making by the Company of any other distribution or the consummation of an exchange offer, or any combination of the foregoing, which results in all or a portion of the Capital Stock of RPH being held by all or any portion of the shareholders of the Company (an "RPH Transaction"), it being understood that (i) if the Company and its Subsidiaries, after the date of this Indenture and prior to the date of an RPH Transaction, make Investments in RPH (in cash or assets) aggregating not more than $15,000,000, then such RPH Transaction shall continue to constitute a "Permitted Restricted 14 Payment" and (ii) if the Company or any Subsidiary makes an Investment in RPH, after the date of this Indenture and prior to the date of such RPH Transaction, that is not permitted by the foregoing clause (i), then such RPH Transaction shall not constitute a "Permitted Restricted Payment". For purposes of the foregoing, the value of any Investment of assets in RPH shall be based upon the fair market value thereof as determined by the Board of Directors of the Company, whose good faith determination shall be conclusive.