Restriction on Distributions. (a) No distribution shall be made if, after giving effect to the distribution:
Restriction on Distributions. Notwithstanding any provision of this Agreement to the contrary, no distribution to any Partner shall be made (a) if such distribution would violate the Act or other applicable law or (b) if, after giving effect to the distribution, (i) the Partnership would not be able to pay its debts as they become due in the usual course of business, (ii) such Partner’s Capital Account would be negative by an amount greater than the amount such Partner would be required to restore pursuant to Section 6.5, or (iii) the Partnership’s total assets would be less than the sum of its total liabilities plus, unless this Agreement provides otherwise, the amount that would be needed, if the Partnership were to be dissolved at the time of the distribution, to satisfy the preferential rights of other Partners, if any, upon dissolution that are superior to the rights of the Partner receiving the distribution. The General Partner may base a determination that a distribution is not prohibited pursuant to Section 6.4(b) on (x) financial statements prepared on the basis of accounting practices and principles that are reasonable under the circumstances, (y) a fair valuation or (z) any other method that is reasonable under the circumstances; provided that the determination under Section 6.4(b)(ii) whether a Partner’s Capital Account will be negative shall be based on the Gross Asset Value of the Partnership’s assets. Except as provided in Section 17-607(b) of the Act, the effect of a distribution is measured as of the date the distribution is authorized if the payment occurs within 120 calendar days after the date of authorization, or the date payment is made if it occurs more than 120 calendar days after the date of authorization.
Restriction on Distributions. Borrower will not make dividend distributions to its shareholders at any time when there exists an outstanding balance on the Loan.
Restriction on Distributions. No distribution shall be made if, after giving effect to the distribution, all liabilities of the Company, other than liabilities to Members on account of their Membership Interests and liabilities for which the recourse of creditors is limited to specified property of the Company, exceed the fair value of the assets of the Company, except that the fair value of property that is subject to a liability for which the recourse of creditors is limited shall be included in the assets of the Company only to the extent that the fair value of that property exceeds that liability.
Restriction on Distributions. No distribution shall be made if, after giving effect to the distribution: (i) the LLC would not be able to pay its debts as they become due in the usual course of business or (ii) the LLC's total assets would be less than the sum of its total liabilities plus, unless this Agreement provides otherwise, the amount that would be needed, if the LLC were to be dissolved at the time of the distribution, to satisfy the preferential rights of other Members, if any, upon dissolution that are superior to the rights of the 'Member receiving the distribution.
Restriction on Distributions. Notwithstanding any other provision in this Agreement, payment of distributions under Sections 9.2, 9.3 and 9.4 may be made by the Company only to the extent that such payment would not violate applicable financing or credit agreements of the Company, and no distribution may be made by the Company to any Member in violation of the Act (including Section 18-607 thereof).
Restriction on Distributions a. The Borrower Consolidation shall not make any Distributions during any period in which a Default or Event of Default has occurred and remains continuing; and
Restriction on Distributions. 16 4.4.1 Restriction..........................................16 4.4.2
Restriction on Distributions. The Borrower shall not declare or pay any dividend (other than dividends payable in capital stock of the Borrower) or make any other distribution on any shares of Common Stock, or make any loans to its Affiliates other than its subsidiaries (excluding inter-company payables that arise in the ordinary course of business) if the aggregate amount of all such dividends and distributions after October 31, 2003 plus outstanding loans, would exceed the aggregate amount of (i) the Borrower’s Net Income Available for Common Dividends accumulated after May 31, 2003, (ii) the amount of any contributions to the capital of the Borrower made with respect to its Common Stock and other amounts received by the Borrower upon the issuance of its Common Stock after October 31, 2003, plus (iii) $450,000,000.
Restriction on Distributions. The Company shall make no distribution to the Members unless the assets of the Company following such distribution will exceed the total liabilities of the Company, excluding liabilities to Members based on their contributions.
