Restricted Payment Condition definition

Restricted Payment Condition means, on any Business Day, a condition that is satisfied if (i) no Default or Event of Default has occurred and is continuing, (ii) there are more than 25 un-Affiliated Obligors in respect of the Collateral Assets of the Borrower, (iii) the Diversity Score is greater than 15 and (iv) each Collateral Quality Test is satisfied.

Restricted Payment Condition means each of the conditions in Paragraph 31 (Restricted Payments) of Part 3 (General Covenants) Schedule 2 (Covenants) to the Common Terms Agreement which must be satisfied or waived by the Borrower Security Trustee before a Restricted Payment may be made by the Issuer or an Obligor.

Restricted Payment Condition shall be deemed to be satisfied in connection with a Restricted Payment (including, without limitation, payments under the Tax Receivable Agreement that do not constitute Permitted Tax Distributions), voluntary prepayment of Indebtedness or payment of the Effective Date Earn-out if:

Examples of Restricted Payment Condition in a sentence

• In accordance with Section 5.08(b) of the Collateral Agency Agreement, we request that $[ ] be withdrawn from the Series 2021B Bonds Capitalized Interest Account and applied to pay accrued and unpaid 7 On each Calculation Date or other Restricted Payment Date, to the extent each Restricted Payment Condition has been satisfied as of the applicable Restricted Payment Condition Satisfaction Date.

• Not make any Restricted Payment unless the Restricted Payment Condition is satisfied and then only in the manner permitted by its memorandum and articles of association and by applicable laws.

• The net proceeds of any Further Advances to be made on any Further Closing Date must be deposited in the Loan Payments Account and may be applied by the Borrower for its general corporate purposes or for making a Restricted Payment provided that the Restricted Payment Condition is satisfied and subject to Clause 14.2.4 (Restricted Payments).

More Definitions of Restricted Payment Condition

Restricted Payment Condition means the conditions set out in Clause 15.9.2 (Criteria for Restricted Payment Condition);

Restricted Payment Condition has the meaning given to such term in Clause 15.11 (Definitions) of the Issuer/Borrower Facility Agreement;

Restricted Payment Condition has the meaning specified in the last paragraph of Section 7.03.

Restricted Payment Condition means each of the conditions in paragraph 34 (Restricted Payments) of Part 3 (General Covenants) Schedule 4 (Covenants) to the CTA which must be satisfied or waived by the Security Trustee before a Restricted Payment may be made by the Issuer or WWU.

Restricted Payment Condition means, as of any date, with respect to any Restricted Payment described in clause (a) or (c) above: the condition that (A) the sum of (i) the amount of such Restricted Payment, plus (ii) the aggregate amount of all other such Restricted Payments made during the most recently completed twelve month period of the Company, plus (iii) the aggregate amount of all other such Restricted Payments made since the end of such twelve-month period, and on or prior to the date of the applicable Restricted Payment, shall not exceed (B) the sum of (i) consolidated net income of the Company and its Subsidiaries for such twelve-month period plus (ii) the noncash charges related to the cooperative resource fee owed by FR Holdings as described in the Audited Financial Statements for such twelve-month period less

Restricted Payment Condition shall be deemed to be satisfied in connection with a Restricted Payment or voluntary prepayment of Indebtedness if:

Restricted Payment Condition. “Specified Transaction Conditions”, “Pro Forma Excess Availability”, “Senior Secured Debt”, “Senior Secured Debt Liens” or “Specified Incurrence Conditions”, in each case, in a way that would be more favorable to the Loan Parties;