Permitted Payee definition

Permitted Payee means any future, current or former director, officer, member of management, manager, employee, independent contractor or consultant (or any Immediate Family Member or transferee of any of the foregoing) of the Borrower (or any Parent Company or any subsidiary).

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Permitted Payee means any Company Person (or any Affiliate, Permitted Transferee or other transferee of any of the foregoing).

Examples of Permitted Payee in a sentence

Any payments or property received by the Permitted Holder or any Permitted Payee in breach of this Section 7 shall be held by the Permitted Holder or such Permitted Payee in trust and promptly delivered in the form received to the holder of Senior Indebtedness entitled to receive the same (any such payment or property delivered by the Permitted Holder or such Permitted Payee to any holder of Senior Indebtedness, a “Turnover Payment”).
Any payments or property received by the Permitted Holder or any Permitted Payee in breach of this Section 8 shall be held by the Permitted Holder or such Permitted Payee in trust and promptly delivered in the form received to the holder of Guarantor Senior Indebtedness entitled to receive the same (any such payment or property delivered by the Permitted Holder or such Permitted Payee to any holder of Guarantor Senior Indebtedness, a “Guarantor Turnover Payment”).
To the maximum extent permitted under applicable Law, ▇▇▇▇▇ agrees that any Turnover Payment shall be treated as a payment by ▇▇▇▇▇ on account of such Senior Indebtedness and shall not satisfy ▇▇▇▇▇’s obligation with respect to any amount due to the Permitted Holder or such Permitted Payee under this Deferred Payment Agreement (ZAI).
To the maximum extent permitted under applicable Law, ▇▇▇▇▇ agrees that any Turnover Payment shall be treated as a payment by ▇▇▇▇▇ on account of such Senior Indebtedness and shall not satisfy ▇▇▇▇▇’s obligation with respect to any amount due to the Permitted Holder or such Permitted Payee under this Deferred Payment Agreement (PD).
To the maximum extent permitted under applicable Law, the Guarantor agrees that any Guarantor Turnover Payment shall be treated as a payment by the Guarantor on account of such Guarantor Senior Indebtedness and shall not satisfy the Guarantor’s obligation with respect to any amount due to the Permitted Holder or such Permitted Payee under this Guarantee (PD).

More Definitions of Permitted Payee

Permitted Payee means, as of any date of determination, the Permitted Holder or any permitted assignee of all or any portion of the Deferred Payments (ZAI) and the rights and interests therein and thereto pursuant to the terms and conditions of Section 16.

Permitted Payee any future, current or former director, officer, member of management, manager, employee, independent contractor or consultant (or any Affiliate, immediate family member or transferee of any of the foregoing) of the Company (or any Subsidiary).

Permitted Payee means either:

Permitted Payee means, collectively (i) any future, current or former officer, director, manager, member, member of management, employee, consultant, distributor or independent contractor of the Company, any Subsidiary or any direct or indirect parent company thereof or (ii) any Affiliate, Permitted Transferee or other transferee of any of the foregoing Persons listed in clause (i).

Permitted Payee means any future, current or former director, officer, member of management, manager, employee, independent contractor or consultant and/or their respective estates, heirs, family members, spouses, domestic partners, former spouses or former domestic partners (or any Affiliate or transferee of any of the foregoing) of any Borrower (or any Restricted Subsidiary). “Permitted Ratio Debt” means Indebtedness of any Borrower or any Restricted Subsidiary so long as on a Pro Forma Basis after giving effect to the incurrence of such Indebtedness, and the application of the proceeds thereof (without netting the cash proceeds thereof, but giving effect to any related Subject Transaction) and to any relevant Subject Transaction (and, in the case of any such Indebtedness in the form of revolving loans or a revolving facility then being established, assuming a full drawing thereunder), (i) if such Indebtedness is secured by a Lien ranking pari passu with the Lien securing the Loan Document Obligations on any Collateral, the First Lien Net Leverage Ratio does not exceed the greater of (x)

Permitted Payee has the meaning set forth in the Deferred Payment Agreement (PI).

Permitted Payee has the meaning set forth in Section 6.08(a). “Permitted Reorganization” means (x) any reorganization and other activities related to tax planning and tax reorganization by Parent and its Subsidiaries, so long as, after giving effect thereto, (i) the Loan Parties shall comply with the Collateral and Guarantee Requirements and Section 5.11 and (ii) the Liens of the Administrative Agent in favor of the Administrative Agent for the benefit of the Secured Parties under the Security Documents are not materially impaired or (y) any reorganization and other activities in anticipation of a Disposition permitted hereunder involving assets that are subject to such Disposition and any reorganization or other activities advisable or necessary to facilitate such Disposition so long as such reorganization or other activities are not materially adverse to the Lenders (provided that Parent shall have delivered to the Administrative Agent an officer’s certificate of a Responsible Officer of Parent certifying compliance with the requirement set forth in this sub-clause (y)). “Permitted Second Priority Refinancing Indebtedness” means Indebtedness of Parent or any other Loan Party in the form of term loans (other than, for the avoidance of doubt, Incremental Term Loans) or bonds, debentures, notes or similar instruments (a) that is secured by Liens on the Collateral on a junior basis to the Liens on the Collateral securing the Obligations and any Permitted First Priority Refinancing Indebtedness and is not secured by any property or assets of Parent or any of the Subsidiaries other than the Collateral (or property or assets that substantially concurrently become Collateral), (b) the proceeds of which, substantially concurrently with the incurrence thereof, are applied to the repayment or prepayment of then outstanding Incremental Term Loan Borrowings of any Class; provided that the principal amount of such Permitted Second Priority Refinancing Indebtedness shall not exceed the amount of the Incremental Term Loan Borrowings so refinanced (plus the aggregate amount of accrued and unpaid interest with respect to such outstanding Incremental Term Loan Borrowings, fees, expenses, commissions, underwriting discounts and premiums payable in connection therewith), (c) that does not mature earlier than the Maturity Date of the Class of Incremental Term Loans so refinanced, and has a weighted average life to maturity no shorter than the Class of Incremental Term Loans so refinanced, (d...