Permitted Shareholder Loans definition

Permitted Shareholder Loans means unsecured loans made by any Permitted Holder to the Borrower or any Restricted Subsidiary (a) expressly subordinated in right of payment to the Obligations which provide for no payments of principal or interest (other than payment in kind interest), (b) are not convertible or exchangeable into securities of the Borrower or any of its Restricted Subsidiaries (other than Capital Stock (other than Disqualified Stock) of the Borrower), (c) contain no defaults and (d) are not mandatorily redeemable or redeemable at the option of the holder in the case of each of (a), (b), (c) and (d) prior to the date of the Latest Maturity Date.
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Permitted Shareholder Loans means (i) the ITC Investments Shareholders Notes, (ii) a loan from any Subsidiary to the Borrower which is subordinated to the obligations of the Borrower under this Agreement and any other senior Indebtedness for Borrowed Money of the Borrower and provided that the Borrower shall not make any payment with respect to any such loan if at the time thereof a Default has occurred and is continuing or would occur as a result of such payment, (iii) a loan from the Borrower to any Subsidiary or a loan, or series of loans, from any Subsidiary to any other Subsidiary of the Borrower, the proceeds of which are used to purchase shares of a Subsidiary, which shares are pledged to the Borrower or the Subsidiary which is the lender as security for such loan and which transactions the Borrower has determined will have a positive impact on the efficiencies within the Borrower’s group of companies or will free up cash flow at the Borrower level and which transactions are consistent in all material respects with the Borrower's past practice, (iv) a loan from any shareholder of a Subsidiary of the Borrower to such Subsidiary provided that the terms of such shareholder loan provide that any payment by such Subsidiary to any lending shareholder (or a successor or assign thereof) pursuant to or on account of such shareholder loan (including as principal, interest, repurchase or otherwise) shall be made pro rata to each of the lending shareholders in proportion to the principal amount outstanding under the shareholder loans and owing to each shareholder (or a successor or assign thereof) and such shareholder loans are not assignable by any lending shareholder without the consent of the relevant Subsidiary and provided further that such shareholder loans are unsecured or, solely in the case of a borrowing Subsidiary which has no assets other than cash or cash equivalents and shares or other equity securities in a Wholly-Owned Subsidiary, secured by a pledge of a percentage of the equity securities in such Wholly-Owned Subsidiary equivalent to each lending shareholder’s percentage equity interest in the borrower Subsidiary.
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Permitted Shareholder Loans means unsecured loans made by any Permitted Holder to the Issuer or any Restricted Subsidiary expressly subordinated in right of payment to the Notes which (a) provide for no payments of principal or interest (other than payment in kind interest), (b) are not convertible or exchangeable into securities of the Issuer or any of its Restricted Subsidiaries (other than Capital Stock (other than Disqualified Stock) of the Issuer), (c) contain no defaults and (d) are not mandatorily redeemable or redeemable at the option of the holder in the case of each of (a), (b), (c) and (d) prior to the date the Notes are no longer outstanding.
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Examples of Permitted Shareholder Loans in a sentence

  • The Issuer shall ensure that, from the Issue Date, all Non-Obligors do not incur Financial Indebtedness (excluding any Permitted Shareholder Loans) in aggregate which exceeds ZAR50,000,000 (Fifty Million Rand).


More Definitions of Permitted Shareholder Loans

Permitted Shareholder Loans means any unsecured, subordinated shareholder loans provided by the Issuer to any Non-Obligor;
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Permitted Shareholder Loans means unsecured loans made by any Permitted Holder to the Company or any Restricted Subsidiary expressly subordinated in right of payment to the Notes which (a) provide for no payments of principal or interest (other than payment in kind interest), (b) are not convertible or exchangeable into securities of the Issuer, the Restricted Parent Guarantor or any of its Restricted Subsidiaries (other than Capital Stock (other than Disqualified Stock) of the Issuer or the Restricted Parent Guarantor), (c) contain no defaults and (d) are not mandatorily redeemable or redeemable at the option of the holder in the case of each of (a), (b), (c) and (d) prior to the date the Notes are no longer outstanding.
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Related to Permitted Shareholder Loans

  • Shareholder Loans means any shareholder loan made to the Issuer as debtor, if such loan:

  • Shareholder Loan means any shareholder loan to the Borrower that:

  • Shareholder Debt means all present and future moneys, debts and liabilities due, owing or incurred from time to time by the Issuer to any Shareholder Creditor, including any dividends and any advisory, monitoring or management fee.

  • Rollover Shareholders means each of Expert Master Holdings Limited, Mr. Longhua Piao and UMW China Ventures (L) Ltd.

  • Company Shares means the common shares in the capital of the Company;

  • Seller Shares means all shares of Common Stock of the Company owned as of the date hereof or hereafter acquired by a Common Holder, as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations and the like.

  • Holdco Shares means the ordinary shares of HoldCo with a par value of US$0.0001 per share.

  • Stockholder Shares means any Common Stock owned by a Stockholder on the date of the closing of the Transactions or hereafter, together with any equity securities issued or issuable directly or indirectly with respect to such Common Stock by way of stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization.

  • Existing Shareholders has the meaning set forth in the preamble.

  • Existing Shareholder means any Person that is a holder of Ordinary Shares as of December 8, 2017.

  • ASA Shares has the meaning set forth in 2.4(a).

  • Company Shareholders means the registered or beneficial holders of the Company Shares, as the context requires;

  • Rollover Shares has the meaning given in the recitals.

  • Shareholder Group means (i) Shareholder and (ii) any Affiliate or Shareholder Family Entity (as defined in the Shareholder's Agreement) of Shareholder (other than the Company).

  • Acquisition Shares means the shares of an Acquiring Fund to be issued to the corresponding Target Fund in a reorganization under this Agreement.

  • unanimous shareholder agreement means either: (i) a lawful written agreement among all the shareholders of the Corporation, or among all the shareholders and one or more persons who are not shareholders; or (ii) a written declaration of the registered owner of all of the issued shares of the Corporation; in each case, that restricts, in whole or in part, the powers of the directors to manage, or supervise the management of the business and affairs of the Corporation, as from time to time amended.

  • sweat equity shares means equity shares issued by a company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called;

  • Purchased Stock means a right to purchase Common Stock granted pursuant to Article IV of the Plan.

  • Newco Shares means the common shares in the capital of Newco;

  • Previously Acquired Shares means shares of Common Stock that are already owned by the Participant or, with respect to any Incentive Award, that are to be issued upon the grant, exercise or vesting of such Incentive Award.

  • Minority Shareholders means holders of Shares that were not tendered pursuant to the Offer or in the Subsequent Offering Period (as it may be extended by the Minority Exit Offering Period).

  • Locked-Up Shareholders means the Persons who are party to the Lock-Up Agreements.

  • Class A Shareholder means a holder of Class A Shares;

  • Shareholder Agreements has the meaning set forth in the recitals to this Agreement.

  • Amalco Shares means the common shares in the capital of Amalco;

  • Principal Stockholder Transferee means any Person who acquires voting stock of the Corporation from the Principal Stockholder (other than in connection with a public offering) and who is designated in writing by the Principal Stockholder as a “Principal Stockholder Transferee.”