CASH FLOW LIMITATIONS Sample Clauses

CASH FLOW LIMITATIONS. Notwithstanding any other provision of this Article III, in the event that the amount due from the Company in payment for Restricted Shares purchased hereunder (including both principal and interest) in any one fiscal year of the Company (other than a purchase occurring by reason of Michael's death) exceeds fifty percent (50%) of the Company's Free Cash Flow for the preceding year, then and in that event the Company in its sole discretion may elect to defer payment of any portion of such principal and/or interest to the extent that payment would require the Company to pay more than fifty percent (50%) of its Free Cash Flow for such preceding year, provided that any such deferred amounts shall continue to earn interest as described in Section 3.5 (c)(i) until paid; and provided further that in any event all principal and interest shall be paid in full no later than five (5) years or ten (10) years, as the case may be, after the date of the closing. If, in the same fiscal year, the Company is also required to pay any persons or entities other than Michxxx xxx shares of Class A Stock that such persons or entities acquired from Gerrx xxx/or Lilo as of the date hereof or pursuant to options granted by the Company and/or is required to make payment to Michxxx xxx/or any other persons under any comparable long-term senior executive compensation plan in effect from time to time, the amounts due to such other persons or entities in such fiscal year shall be aggregated with the amount due with respect to the Restricted Shares in such fiscal year and, if the aggregate amount due exceeds fifty percent (50%) of the Company's Free Cash Flow for the preceding fiscal year, then and in that event the Company in its sole discretion may elect to defer payment of any portion of such aggregate amount (principal and/or interest) to the extent that it would exceed fifty percent (50%) of the Company's Free Cash Flow for the preceding year, and payments and deferments shall be effected among Michxxx xxx such other persons or entities in proportion to the amounts (both principal and interest) then due and owing to each, subject to any provisions in such plans as to priority of payment.
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CASH FLOW LIMITATIONS. Notwithstanding any other provision of this Article VI, in the event that the amount due from the Company in payment for Option Shares purchased hereunder (including both principal and interest) in any one fiscal year of the Company (other than a purchase occurring by reason of Michael's death) exceeds fifty percent (50%) of the Company's Free Cash Flow for the preceding year, then and in that event the Company in its sole discretion may elect to defer payment of any portion of such principal and/or interest to the extent that payment would require the Company to pay more than fifty percent (50%) of its Free Cash Flow for such preceding year, provided that any such deferred amounts shall continue to earn interest as described in Section 6.7 (c)(i) until paid; and provided further that in any event all principal and interest shall be paid in full no later than five (5) years or ten (10) years, as the case may be, after the date of the closing. If, in the same fiscal year, the Company is also required
Sample 1

Related to CASH FLOW LIMITATIONS

  • Transaction Limitations The Account balance may never be less than the principal owed on the obligation secured by this Account plus all accrued interest and fees. If You exceed these limitations, Your Account may be subject to closure by the Credit Union. SPECIFIC TERMS APPLICABLE TO YOUR MONEY MARKET ACCOUNT Tiered Variable Rate Information. This Account is subject to a Tiered Variable Rate. For the current dividend rate and corresponding APY, refer to the accompanying Account Disclosure Rate Supplement which We have included with and made a part of this Disclosure. Minimum Balance Requirements. The minimum balance required to open this Account is $1,000.00. SPECIFIC TERMS APPLICABLE TO YOUR HIGH YIELD MONEY MARKET ACCOUNT Tiered Variable Rate Information. This Account is subject to a Tiered Variable Rate. For the current dividend rate and corresponding APY, refer to the accompanying Account Disclosure Rate Supplement which We have included with and made a part of this Disclosure. Minimum Balance Requirements. The minimum balance required to open this Account is $25,000.00. SPECIFIC TERMS APPLICABLE TO YOUR BASIC BUSINESS CHECKING ACCOUNT Dividend Information. No dividends are paid on this Account. Minimum Balance Requirements. No minimum balance requirements apply to this Account. Transaction Limitations. No transaction limitations apply to this Account. SPECIFIC TERMS APPLICABLE TO YOUR BUSINESS MONEY MARKET CHECKING ACCOUNT Tiered Variable Rate Information. These Accounts are subject to a Tiered Variable Rate. For the current dividend rate and corresponding APY, refer to the accompanying Account Disclosure Rate Supplement which We have included with and made a part of this Disclosure. Minimum Balance Requirements. No minimum balance requirements apply to this Account. Transaction Limitations. No transaction limitations apply to this Account. SPECIFIC TERMS APPLICABLE TO YOUR ONE TIME BUMP CERTIFICATE ACCOUNT Fixed Rate Information. This Account is subject to a Fixed Rate. For the current dividend rate and corresponding APY, refer to the accompanying Account Disclosure Rate Supplement which We have included with and made a part of this Disclosure. After establishing Your Account, You may make one request to have Your One Time Bump Certificate Account rate increased to a rate equal to that of a regular Certificate Account having the same term to maturity as Your original term. In that event, Your original term to maturity will remain unchanged, and the increased rate will only apply to the remaining term of Your Account.

  • Account Limitations Limitations are implemented to help protect PayPal, buyers and sellers when we notice restricted activities, an increased financial risk, or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your PayPal account open. There are several reasons why your PayPal account could be limited, including: • If we suspect someone could be using your PayPal account without your knowledge, we’ll limit it for your protection and look into the fraudulent activity. • If your debit or credit card issuer alerts us that someone has used your card without your permission. Similarly, if your bank lets us know that there have been unauthorized transfers between your PayPal account and your bank account. • In order to comply with applicable law. • If we believe in our sole discretion that you have breached this agreement or violated the Acceptable Use Policy. • Seller performance indicating your PayPal account is high risk. Examples include: indications of poor selling performance because you’ve received an unusually high number of claims and chargebacks, selling an entirely new or high-cost product type, or if your typical sales volume increases rapidly. Unless a permanent limitation is placed on your account, you will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us that information, we may take action to protect PayPal, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.

  • Amount Limitations Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan, the Issuing Bank shall not be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments:

  • Investment Limitations If the Custodian has otherwise complied with the terms and conditions of this Agreement in performing its duties generally, and more particularly in connection with the purchase, sale or exchange of securities made by or for a Portfolio, the Custodian shall not be liable to the applicable Fund and such Fund agrees to indemnify the Custodian and its nominees, for any loss, damage or expense suffered or incurred by the Custodian and its nominees arising out of any violation of any investment or other limitation to which such Fund is subject.

  • Billing Limitations a. DSHS shall pay the Contractor only for authorized services provided in accordance with this Contract.

  • Limitation on Capital Expenditures Make or commit to make (by way of the acquisition of securities of a Person or otherwise) any expenditure in respect of the purchase or other acquisition of fixed or capital assets (excluding any such asset acquired in connection with normal replacement and maintenance programs properly charged to current operations) except for:

  • Expense Limitations In the event the operating expenses of the Fund, ------------------- including amounts payable to the Investment Adviser pursuant to subsection (a) hereof, for any fiscal year ending on a date on which this Agreement is in effect exceed the expense limitations applicable to the Fund imposed by applicable state securities laws or regulations thereunder, as such limitations may be raised or lowered from time to time, the Investment Adviser shall reduce its management and investment advisory fee by the extent of such excess and, if required pursuant to any such laws or regulations, will reimburse the Fund in the amount of such excess; provided, however, to the extent permitted by law, -------- ------- there shall be excluded from such expenses the amount of any interest, taxes, distribution fees, brokerage fees and commissions and extraordinary expenses (including but not limited to legal claims and liabilities and litigation costs and any indemnification related thereto) paid or payable by the Fund. Whenever the expenses of the Fund exceed a pro rata portion of the applicable annual expense limitations, the estimated amount of reimbursement under such limitations shall be applicable as an offset against the monthly payment of the fee due to the Investment Adviser. Should two or more such expense limitations be applicable as at the end of the last business day of the month, that expense limitation which results in the largest reduction in the Investment Adviser's fee shall be applicable.

  • Exceptions to Limitations These limitations of liability do not apply to breaches of confidentiality obligations, violations of a party’s Intellectual Property Rights by the other party, indemnification obligations, or Customer's payment obligations.

  • Limitation on Changes in Fiscal Periods Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower's method of determining fiscal quarters.

  • Certain Limitations The indemnification provided for in Section 8.02 and Section 8.03 shall be subject to the following limitations:

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