Dividend Restriction Event means the occurrence of one or more of the following events:
Dividend Restriction Event any of the following:
Dividend Restriction Event means any event or circumstance as follows:
Examples of Dividend Restriction Event in a sentence
The Borrower agrees that following the occurrence of a Dividend Restriction Event, the Borrower shall not repay and shall procure that no Sponsor or Shareholder shall demand or accept repayment of any such loans in each case without the prior written consent of the Facility Agent acting on the instructions of the Lenders.
More Definitions of Dividend Restriction Event
Dividend Restriction Event means the occurrence of any of the following: (1) an Event of Default shall have occurred and be continuing; (2) a Default shall have occurred and be continuing; (3) a Level 1 Trigger shall have occurred and be continuing either immediately before, or would occur immediately after, giving effect to any such payment, dividend or distribution under this Section; and/or (4) a Consumer Loan Value Deficiency exists or would exist after making such payment, dividend or distribution. Notwithstanding anything herein to the contrary, the total dividends and/or other distributions made by Debtor on account of any equity interests in Debtor shall not exceed the Monthly Dividend Cap in any calendar month. Notwithstanding the foregoing, Debtor may pay an additional dividend as of Debtor’s fiscal year end not to exceed TEN MILLION AND NO/100 DOLLARS provided that (i) the Advance Rate at the time of payment shall be LESS than the Initial Advance Rate, (ii) such payment shall occur after DECEMBER 20, 2019, and (iii) Lender shall have consented to such dividend in its sole discretion. ****
Dividend Restriction Event means the occurrence of any of the following: (1) an Event of Default shall have occurred and be continuing; (2) a Default shall have occurred and be continuing; (3) a Level 1 Trigger shall have occurred and be continuing either immediately before, or would occur immediately after, giving effect to any such payment, dividend or distribution under this Section; and/or (4) a Consumer Loan Value Deficiency exists or would exist after making such payment, dividend or distribution. Notwithstanding anything herein to the contrary, the total dividends and/or other distributions made by Debtor on account of any equity interests in Debtor shall not exceed the [***] Dividend Cap in any calendar [***].
Dividend Restriction Event means the restriction of a payment of a dividend by the Borrower to the Guarantor in any period in which one or more of the following has not been satisfied by the Borrower:
Dividend Restriction Event means the restriction of a payment of a Distribution by the Company or the Guarantor (as applicable) in any Collection Period in which one or more of the following events has occurred:
Dividend Restriction Event means the occurrence of any of the following: (1) an Event of Default shall have occurred and be continuing; (2) a Default shall have occurred and be continuing; (3) a Level 1 Trigger shall have occurred and be continuing either immediately before, or would occur immediately after, giving effect to any such payment, dividend or distribution under this Section; and/or (4) a Consumer Loan Value Deficiency exists or would exist after making such payment, dividend or distribution. Prior to or concurrently with the payment of any dividend or distribution, the Debtor shall deliver a certificate in the form attached hereto as Exhibit 8(q) showing that, after giving pro forma effect to any such dividend or distribution, no Consumer Loan Value Deficiency would result therefrom. Notwithstanding anything herein to the contrary, the total dividends and/or other distributions made by Debtor on account of any equity interests in Debtor shall not exceed the Monthly Dividend Cap in any calendar month. Notwithstanding the foregoing, Debtor may pay an additional dividend as of Debtor’s fiscal year end not to exceed TEN MILLION AND 00/100 DOLLARS provided that Lender shall have consented to such dividend in its sole discretion.”
Dividend Restriction Event means the occurrence of any of the following: (1) an Event of Default shall have occurred and be continuing; (2) a Default shall have occurred and be continuing; (3) a Level 1 Trigger shall have occurred and be continuing either immediately before, or would occur immediately after, giving effect to any such payment, dividend or distribution under this Section; and/or (4) a Consumer Loan Value Deficiency exists or would exist after making such payment, dividend or distribution. Notwithstanding anything herein to the contrary, the total dividends and/or other distributions made by Debtor on account of any equity interests in Debtor shall not exceed the Monthly Dividend Cap in any calendar month. Notwithstanding the foregoing, Debtor may pay an additional dividend as of Debtor’s fiscal year end not to exceed TEN MILLION AND 00/100 DOLLARS provided that Lender shall have consented to such dividend in its sole discretion.
Dividend Restriction Event means the occurrence of any of the following, determined as of the Payment Date proposed for any Distribution: