Permitted Restricted Payments means any of the following Restricted Payments made by:
Permitted Restricted Payments has the meaning given that term in Section 9.12(c).
Permitted Restricted Payments means payments made by:
Examples of Permitted Restricted Payments in a sentence
Make or permit any of its Subsidiaries to make any Restricted Payment other than Permitted Restricted Payments.
More Definitions of Permitted Restricted Payments
Permitted Restricted Payments means, with respect to any Person, any of the following: (A) repurchases, redemptions, dividends or distributions (other than repurchases or redemptions by ProductionCo while the Pledged Collateral remains subject to the Liens created by the Pledge Agreement) made in the form of the Equity Interests of such Person; (B) payment in lieu of fractional shares of the Equity Interests of such Person in connection with any dividend, split, or combination thereof or any Fundamental Change not prohibited hereby; (C) payments made or expected to be made in respect of withholding or similar taxes payable upon exercise of the Equity Interests of such Person by any future, present or former employee, director, officer, manager or consultant (or their respective controlled Affiliates or permitted transferees), and any repurchases of such Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests represents a portion of the exercise price of such options or warrants or required withholding or similar taxes; (D) repurchases, redemptions, dividends or distributions in accordance with incentive compensation plans approved by such Person’s Board of Directors (or equivalent governing body); (E) dividends or distributions by (x) a Wholly Owned Subsidiary of ProductionCo to ProductionCo or one its other Wholly Owned Subsidiaries, (y) ProductionCo, directly or indirectly, to the Company to fund Permitted Company Expenditures and Permitted Investments, and (z) among the Company and its Subsidiaries (other than ProductionCo and its Wholly Owned Subsidiaries); (F) repurchases or redemptions of any class of Equity Interests pursuant to employee, director or consultant repurchase plans or other similar agreements approved by the Board of Directors; (G) other repurchases, redemptions, dividends or distributions effected by the Company or its Subsidiaries other than ProductionCo or its Subsidiaries in an aggregate principal amount not to exceed twenty-five million dollars ($25,000,000); (H) dividends or distributions by any Driftwood Company to any other Driftwood Company and (I) to the extent constituting a repurchase, redemption or distribution, conversion (at the conversion price in effect as of the date hereof) of the series C preferred shares of the Company held by Bechtel Oil, Gas and Chemicals, Inc. into shares of Common Stock, provided that, notwithstanding the foregoing, none of the foregoing transactions shall qualify as a Permitted R...
Permitted Restricted Payments means:
Permitted Restricted Payments means (a) dividends, loans, or advances to Parent to enable Parent to make payment of its general operating expenses and federal, state, local and foreign tax obligations then due and owing and incurred in the ordinary course of business if and so long as Parent (i) immediately uses the proceeds of such dividends, loans, or advances solely to satisfy such obligations and (ii) does not use such to satisfy the obligations of any other Person through the satisfaction of a guaranty or otherwise, and (b) any purchase, acquisition, redemption, or retirement by Parent of any class of its outstanding Stock on or before August 31, 2003, in an aggregate amount not in excess of $10,000,000.
Permitted Restricted Payments any Restricted Payment
Permitted Restricted Payments means any of the following Restricted Payments made by: (a) any Loan Party directly or indirectly to the Parent in amounts necessary to pay taxes and other customary expenses as and when due and owing by the Parent in the ordinary course of its business as a holding company (including salaries and related reasonable and customary expenses incurred by employees of the Parent), so long as no Default or Event of Default shall have occurred and be continuing or would result from the making of such payment; (b) [reserved];
Permitted Restricted Payments shall include (i) Permitted Advisory Fees, (ii) Tax Distributions, (iii) Restricted Payments that do not exceed $15,000,000, in the aggregate, from the Agreement Date and (iv) after the consummation of the initial public offering of the shares of common stock of Parent, to the holders of Equity Interests of Parent, the dividends specified in Section 7.8(a).
Permitted Restricted Payments means, so long as, in the case of any such Restricted Payment other than any Restricted Payment pursuant to clause (a)(i) below or clause (c), (d), or (e) below, no Default or any Event of Default shall have occurred and remain outstanding at the time of the payment thereof, or would occur after giving pro forma effect to the payment thereof (and any Indebtedness (including if applicable any Revolving Advance) being incurred or requested and/or any other transaction being closed and consummated by any Company concurrently/substantially contemporaneously with the closing and consummation on such transaction): (a) (i) distributions and dividends payable by any Company to any other Company (other than Parent), (ii) distributions and dividends payable by any Company to Parent in connection with and as an intermediate step in any series of substantially contemporaneous transactions ultimately resulting in an Investment that is a Permitted Investment, and (iii) distributions and dividends payable by any Company to Parent to fund (x) any Restricted Payment by Parent but only if and to the extent such Restricted Payment by Parent is a Permitted Restricted Payment hereunder or (y) any payment by Parent with respect to any Permitted Indebtedness with respect to which Parent is liable/obligated, but in each case under this subclause (y) only if and to the extent that (A) such payment by Parent in respect of such Permitted Indebtedness is not otherwise prohibited under this Agreement and (B) no Revolving Advance may be requested (nor may any proceeds of any Revolving Advance made on or about the day of any such transaction be used) to fund any portion of any such Restricted Payment under this subclause (y); (b) distributions and dividends by any Subsidiary that is not a Wholly-Owned Subsidiary to any other direct or indirect holders of Equity Interests in such Subsidiary to the extent (i) such distributions and dividends are made simultaneously and on a pro rata (or on a basis more favorable to the Borrower or such Guarantor) basis among all the holders of the Equity Interests in such Subsidiary; (c) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any Stock or Stock Equivalents of the Borrower or any of its Subsidiaries (other than Specified Equity Contributions) that is deemed to occur upon the cashless exercise of stock options or warrants; 63 074658.21069/130240014v.3