Payments to Insiders. Notwithstanding anything to the contrary herein, neither the Borrower nor any of its Subsidiaries shall make any payments whether in cash, property or other consideration to any of its or their directors, officers, equityholders or any other Persons who are “insiders” pursuant to Section 101(31) of the Bankruptcy Code or Affiliates of any of the foregoing, in each case, other than (a) salaries and compensation to employees of any Loan Party in the Ordinary Course of Business, including any bonuses approved by the Bankruptcy Code, (b) reasonable, documented, out-of-pocket travel expenses of the members of the board of directors of the Borrower incurred in connection with attending board meetings that require in-person attendance or making site visits at the Borrower’s chief executive offices, in each case, not exceeding the amount set forth in the Approved Budget.
Payments to Insiders. During the Forbearance Period, no payment shall be made to any employee, director, shareholder or any person or entity in control of any Credit Party or any entity controlled directly or indirectly by any of the foregoing (each, an "Insider") except for existing payroll amounts and reimbursement of business related expenses consistent with past practices and inter-company transfers pursuant to the Cash Management Systems. The Credit Party shall obtain each Insider's written consent to the requirements of this Section 6.3.
Payments to Insiders. No Credit Party shall, nor shall it permit its Subsidiaries to, make any payments or otherwise transfer any assets of such Credit Party or Subsidiary of a Credit Party to any officer, director, employee or shareholder of the Borrower other than (a) salary and other usual compensation in the ordinary course of business, (b) scheduled dividends on the existing preferred stock of the Borrower and (c) usual and customary director's fees and meeting expenses in the ordinary course of business.
Payments to Insiders. Notwithstanding anything to the contrary herein, neither the Borrower nor any of its Subsidiaries shall make any payments whether in cash, property or other consideration to any of its or their directors, officers, equityholders or any other Persons who are “insiders” pursuant to Section 101(31) of the Bankruptcy Code or Affiliates of any of the foregoing, in each case, other than (a) payments pursuant to the MIP, (b) Qualifying Advances, (c) payments pursuant to the Retention Plan, and (d) wages and salaries consistent with individual rates and salaries in effect prior to the Second Amendment Effective Date and sales commissions to sales people in accordance with the existing incentive compensation plan reviewed and approved by the Lenders, provided such payments are otherwise in the ordinary course of business and consistent with past practice. For the avoidance of doubt, payments to the Tranche B Specified Lenders in their capacity as such in accordance with the terms of this Agreement shall not constitute payments to “insiders” as contemplated above.
Payments to Insiders. Without the Lender's prior written approval, Borrower shall not make any payments of any kind whatsoever to any owner, director or officer of Borrower after the occurrence of an Event of Default or Unmatured Default, except for normal salaries and bonuses owed by Borrower to any such director or officer paid in the ordinary course of business. Such payments include without limitation payments in connection with any loans, leases, advances, liabilities, debt balances, covenants, duties, and management fees owed by Borrower to such owner, director or officer.
Payments to Insiders. Except to the extent required by the terms -------------------- under which MNC's preferred stock was issued and except as required by written employment agreements, make, accrue or become liable for any payment to any officer, director, or stockholder of the Borrowers or any Affiliate of any such Person, other than (i) payment under existing supply contracts and leases, and (ii) payments of compensation and benefits consistent with the past practices of the Borrowers;
