Common use of Prohibition on Dividends Clause in Contracts

Prohibition on Dividends. Except as provided in the Credit Agreements and by Section 43 of the Xxxxxxxx Islands Business Corporations Act, no Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary’s equity securities, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company.

Appears in 3 contracts

Samples: Underwriting Agreement (Teekay Tankers Ltd.), Underwriting Agreement (Teekay Tankers Ltd.), Teekay Tankers Ltd.

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Prohibition on Dividends. Except as provided in the Credit Agreements and by Section 43 of the Xxxxxxxx Islands Business Corporations ActAct and Sections 20, 31, 40 and 49 of the Xxxxxxxx Islands Limited Liability Company Act of 1996, no Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary’s equity securities, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company.

Appears in 1 contract

Samples: Teekay Tankers Ltd.

Prohibition on Dividends. Except as provided in the Credit Agreements and by Section 43 of the Xxxxxxxx Islands Business Corporations Act, no No Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiarySubsidiary’s equity securitieslimited liability company interests, from repaying to the Company any loans or advances to such subsidiary Subsidiary from the Company or from transferring any of such subsidiarySubsidiary’s property or assets to the Company or any other subsidiary of Subsidiary, except as described in or contemplated by the CompanyRegistration Statement and the Prospectus.

Appears in 1 contract

Samples: Underwriting Agreement (Atlas Energy Resources, LLC)

Prohibition on Dividends. Except as provided in the Credit Agreements and by Section 43 of the Xxxxxxxx Islands Business Corporations ActAct and Sections 20, 31, 40 and 49 of the Xxxxxxxx Islands Limited Liability Company Act of 1996, no Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiarySubsidiary’s equity securities, from repaying to the Company any loans or advances to such subsidiary Subsidiary from the Company or from transferring any of such subsidiarySubsidiary’s property or assets to the Company or any other subsidiary Subsidiary of the Company.

Appears in 1 contract

Samples: Teekay Tankers Ltd.

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Prohibition on Dividends. Except as provided prohibited or restricted by applicable law and as otherwise disclosed in the Credit Agreements Offering Memorandum and by Section 43 of the Xxxxxxxx Islands Business Corporations ActDisclosure Package, no Subsidiary of the Company is prohibited, directly or indirectly, prohibited from paying any dividends to the Company, from making any other distribution on such subsidiarySubsidiary’s equity securitiescapital stock, from repaying to the Company or any other Subsidiary of the Company any loans or advances to such subsidiary from the Company Subsidiary or from transferring any of such subsidiarySubsidiary’s property properties, assets or assets operations to the Company or any other subsidiary Subsidiary of the Company.

Appears in 1 contract

Samples: Purchase Agreement (CIFC Corp.)

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