Example ContractsClausesRestricted Payments
Restricted Payments
Restricted Payments contract clause examples

Restricted Payments. Declare or pay any dividend (other than dividends payable solely in common stock of the Person making such dividend) on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any Capital Stock of any Group Member, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of any Group Member (collectively, “Restricted Payments”), except that:

Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, except that:

Restricted Payments. The Company shall not, and shall not permit any of its Subsidiaries to, declare or make any Restricted Payment if either a Default or an Unmatured Default shall have occurred and be continuing at the date of declaration or payment thereof or would result therefrom; provided, however, that the Company or any Subsidiary may make dividend payments to holders of its Equity Interests or stock repurchases or redemptions pursuant to any Stock Repurchase Plan subsequent to the occurrence of a Default or an Unmatured Default if the payment of such dividends or commitment to make such stock repurchase was publicly announced to such holders of Equity Interests prior to the occurrence of such Default or Unmatured Default. In addition to the foregoing, the Company shall not permit any of its issued and outstanding Capital Stock or any of its Subsidiaries’ issued and outstanding Capital Stock to be subject to any redemption right or repurchase agreement pursuant to which the Company or any Subsidiary is or may become obligated to redeem or repurchase its Capital Stock, other than those agreements identified in [Schedule 6.8].

Restricted Payments. Declare, pay or make, whether in cash or property, or set aside or apply any money or assets to pay or make any Restricted Payments except that Borrower may make Restricted Payments; provided that so long as immediately after giving effect to any such Restricted Payment no Default or Event of Default exists or results therefrom:

Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, or accept any capital contributions, except that, so long as no Default shall have occurred and be continuing at the time of any action described below or would result therefrom:

Restricted Payments. It shall not, and it shall ensure that each other Credit Party does not, directly or indirectly, # declare or make any payment or other distribution of assets, properties, cash, rights, obligations or Securities on account of any of Equity Interests (except that any Credit Party may declare and pay dividends to another Credit Party (so long as it remains an Credit Party)), or # purchase, redeem or otherwise acquire for value any of its, or any of its Affiliate’s, shares of capital stock, partnership interests, membership interests or other equity securities or any warrants, rights or options to acquire such interests or Securities now or hereafter outstanding, or # make any payment in respect of Subordinated Debt, or # make any other payment or distribution to any of its shareholders or Affiliates or any other non-arm’s length party. Notwithstanding the foregoing and for greater certainty, Village Farms International, Inc. may, provided that # no Default or Event of Default has occurred and is continuing or would occur as the result of any proposed distribution by Village Farms International, Inc. and # the Borrower Group is at such time in compliance with [Section 13.3(1)] hereof, declare and pay dividends on account of any of its Equity Interests. Notwithstanding the foregoing and for greater certainty, but subject to [Section 13.2(24)] and the definitions of Permitted Investment and Permitted JV Entity, as applicable, nothing in this clause # shall prevent # the US Borrower from fulfilling its obligations under the Hemp JV Documents and under the AVGG Hemp JV Documents, as applicable, or # any Credit Party from fulfilling its obligations under any documents governing a Permitted Investment.

Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation to do so, provided, that:

Restricted Payments. The Company shall not, and the Company shall cause each of its Subsidiaries to not, directly or indirectly, redeem, defease, repurchase, repay or make any payments in respect of, by the payment of cash or cash equivalents (in whole or in part, whether by way of open market purchases, tender offers, private transactions or otherwise), all or any portion of any Indebtedness, whether by way of payment in respect of principal of (or premium, if any) or interest on, such Indebtedness, if at the time such payment is due or is otherwise made or, after giving effect to such payment, # an event constituting an Event of Default has occurred and is continuing or # an event that with the passage of time and without being cured would constitute an Event of Default has occurred and is continuing.

Restricted Payments . Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no Default shall have occurred and be continuing at the time of any action described below or would result therefrom:

Restricted Payments. The Borrower shall not enter into any lending transaction with any other Person. The Borrower shall not at any time # advance credit to any Person or # declare any distributions, repurchase any Stock, return any capital, or make any other payment or distribution of cash or other property or assets in respect of the Borrower’s Stock or make a repayment with respect to any Subordinated Loans if, after giving effect to any such advance or distribution, a Funding Excess, Incipient Termination Event or Termination Event would exist or otherwise result therefrom.

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