Common use of Prohibition on Dividends Clause in Contracts

Prohibition on Dividends. Except as provided in credit and loan agreements described in the Pricing Disclosure Package and Prospectus, by Section 40 of the Xxxxxxxx Islands Limited Liability Company Act of 1996 and by Sections 43 and 44 of the Xxxxxxxx Islands Business Corporations Act, neither the Operating Company nor any Operating Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Partnership or the Operating Company, as the case may be, from making any other distribution on such subsidiary’s equity securities, from repaying to the Partnership or the Operating Company any loans or advances to such subsidiary from the Partnership or the Operating Company or from transferring any of such subsidiary’s property or assets to the Partnership, the Operating Company or any other subsidiary of the Partnership.

Appears in 3 contracts

Samples: Underwriting Agreement (Teekay LNG Partners L.P.), Underwriting Agreement (Teekay LNG Partners L.P.), Underwriting Agreement (Teekay LNG Partners L.P.)

AutoNDA by SimpleDocs

Prohibition on Dividends. Except as provided in the credit and loan agreements described in the Pricing Registration Statement, the Disclosure Package and Prospectus, the Prospectus and by Section 40 of the Xxxxxxxx Islands Limited Liability Company Act of 1996 and by Sections 43 and 44 of the Xxxxxxxx Islands Business Corporations Act, neither the Operating Company nor any Operating Subsidiary is prohibited, directly or indirectly, from paying any dividends to the Partnership or the Operating Company, as the case may be, from making any other distribution on such subsidiary’s equity securities, from repaying to the Partnership or the Operating Company any loans or advances to such subsidiary from the Partnership or the Operating Company or from transferring any of such subsidiary’s property or assets to the Partnership, the Operating Company or any other subsidiary of the Partnership.

Appears in 3 contracts

Samples: www.sec.gov, Underwriting Agreement (Teekay Offshore Partners L.P.), Underwriting Agreement (Teekay Offshore Partners L.P.)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.