Prohibited Distribution definition

Prohibited Distribution by any Person means (a) the retirement, redemption, purchase, or other acquisition for value of any capital stock or other equity securities or partnership interests issued by such Person, (b) the declaration or payment of any dividend or distribution on or with respect to any such securities (excluding distributions made solely in shares of stock of the same class) or partnership interests, and (c) any other payment by such Person in respect of such securities or partnership interests.

Prohibited Distribution means any dividends or other distributions received by a Purported Transferee in respect of Excess Securities.

Prohibited Distribution has the meaning set forth in Section 14(o) hereof.

Examples of Prohibited Distribution in a sentence

• Subject to the provisions of the Companies Law, the Company may release, in advance, an Office Holder from liability to the Company for damages which arise from breach of such Office Holder’s duty of care to the Company (as such term is defined under the Companies Law) other than with respect to liability arising out of a Prohibited Distribution (as such term is defined under the Companies Law).

• SB 255 Electronic Communication Devices: Prohibited Distribution of Personal Information was signed into effect by California Governor Jerry Brown on 1 October 2013, having passed the state legislature after months of amendments.

• A Prohibited Distribution does not include an amount constituting reasonable compensation for present or past services or a reasonable payment made in the ordinary course of business under a bona fide retirement plan or another benefits program.Note: The provisions of section 3.2 cannot be waived or modified in the company agreement unless a specific provision authorizes it.

• Borrower shall not, directly or indirectly declare or make any Prohibited Distribution or Prohibited Payment.

• A Member who receives a Prohibited Distribution is not required to return the Prohibited Distribution unless the Member had knowledge of the violation of this section 3.2 or the Code.

More Definitions of Prohibited Distribution

Prohibited Distribution. The Software includes strong cryptographic features. The United States Department of Commerce, and with the United States Export Administration Act require that the Software is not exported in violation of United States Law. You acknowledge that the Software may be subject to export regulations, and agree not to export or transfer any portion of the Software in violation of any United States or other applicable laws. Licensee asserts they have the responsibility to obtain any export classifications and licenses as may be required to comply with such laws.

Prohibited Distribution by any Person means (a) the retirement, redemption, purchase, or other acquisition for value of any capital stock or other equity, securities, membership, or partnership interests issued by such Person, (b) the declaration or payment of any dividend or distribution on or with respect to any such equity or securities interest (excluding distributions made solely in shares of stock of the same class) or partnership interests, (c) any loan or advance by such Person to, or other Investment by such Person in, any other Person, and (d) any other payment by such Person in respect of such equity, securities or partnership interests.

Prohibited Distribution means dividends or other distributions made with respect to Stock received by a Purported Acquiror.

Prohibited Distribution has the meaning set forth in Section 1.4(a).

Prohibited Distribution by any Person means (a) the retirement, redemption, purchase, or other acquisition for value of any capital stock or other equity securities or partnership interests issued by such Person, (b) the declaration or payment of any dividend or distribution on or with respect to any such securities (excluding distributions made solely in shares of stock of the same class) or partnership interests, (c) any loan or advance by such Person to, or other Investment by such Person in, any other Person, and (d) any other payment by such Person in respect of such securities or partnership interests, without the prior written consent of Lender, which consent shall not be unreasonably withheld.

Prohibited Distribution means, in relation to the Controlled Liabilities: (a) any payment or repayment, purchase or acquisition, reduction or redemption (in whole or in part), of any of the Controlled Liabilities (whether in cash or in kind); (b) any Distribution in satisfaction (in whole or in part), of any of the Controlled Liabilities; (c) (save only to the extent it may be required to do so, or the same occurs automatically by operation of law, under any applicable law (not including, for the avoidance of doubt, under any contract)) any set-off against any of the Controlled Liabilities; (d) (without prejudice to the generality of (a) to (c) above) any dividend, or any money in redemption, reduction, repayment, purchase, cancellation or other extinguishment of any share capital or any other Distribution in respect of such share capital to any person (including, without limitation, to the Shareholders or an Intra-Group Creditor) or interest in respect of, or the repayment, redemption or purchase of, any loan stock and loan notes or similar instrument issued by any Obligor, in each case, other than in relation to any payment contemplated in paragraph (a) to (d) above to the extent that it is made pursuant to or for the purposes of giving effect to the Periodic Repayment Obligations in compliance with the provisions of the Senior Facilities Agreement or pursuant to a “Permitted Distribution” as defined in the Senior Facilities Agreement.

Prohibited Distribution means, in relation to the Controlled Liabilities: