Common use of Effect on Payments Clause in Contracts

Effect on Payments. If an Event of Default shall have occurred and be continuing, the Borrowers shall not make payments in respect of Corporate Overhead or any Restricted Payments (including, without limitation, loans to ▇▇▇▇▇▇ ▇▇▇▇▇) to the Guarantors, Stockholders or any Affiliates, in excess of the levels specified in Section 5.05(a) hereof.

Appears in 1 contract

Sources: Loan Agreement (Triathlon Broadcasting Co)

Effect on Payments. If an Event of Default shall have occurred and be continuing, the Borrowers shall not make payments in respect of Corporate Overhead or any Restricted Payments (including, without limitation, loans to ▇▇▇▇▇▇ ▇▇▇▇▇) to the Guarantors, Stockholders or any Affiliates, in excess of the levels specified in Section 5.05(aSECTION 5.05(A)(II) hereof.

Appears in 1 contract

Sources: Loan Agreement (Triathlon Broadcasting Co)