Prohibited Action definition

Prohibited Action means an action of the Client as defined under paragraph 10.1 of this Client Agreement. A Prohibited Action constitutes an event of Default giving the Company the right to take action under paragraph 14.2 of this Client Agreement.

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Prohibited Action shall have the meaning provided in Section 11.

Prohibited Action means any counterclaim, defence (other than a counterclaim or defence based on the factors set forth in (a) to (d) of the definition of Credit Event above) or right of set-off by or of the Reference Entity or any applicable Underlying Obligor.

Examples of Prohibited Action in a sentence

• A Committing Party may not take any Prohibited Action during the course of the procurement of this contract or in execution thereof.

• Before Customer exercises any legal right to conduct a Prohibited Action it must provide Epicor with reasonable prior written notice and will not unreasonably refuse to accept any alternative course of action that Epicor proposes to satisfy Customer’s legal rights in lieu of conducting a Prohibited Action.

• Controlled Co. shall be liable for, and shall indemnify and hold harmless the Distributing Group from and against any liability for any Tax described in paragraph (a)(ii) or (a)(iii) above to the extent arising as a result after the Distribution Closing Date of Controlled Co.'s or any member of the Controlled Group engaging in any Prohibited Action as defined in Section 11, or a breach by Controlled Co. of its representations, warranties and covenants set forth in Section 11.

• The Investor shall have the burden of proof to show that the Majority Common Holder engaged in a Prohibited Action.

• If at any time ▇▇▇▇▇▇▇ ▇▇▇▇▇ or any Affiliate thereof is approached by any Person requesting ▇▇▇▇▇▇▇ ▇▇▇▇▇ or any Affiliate to instigate, encourage, join, act in concert with or assist any Person in a Prohibited Action involving the assets, businesses or securities of BlackRock or any of its Controlled Affiliates or any other Prohibited Actions, ▇▇▇▇▇▇▇ ▇▇▇▇▇ will promptly inform BlackRock of the nature of such contact and the parties thereto.

More Definitions of Prohibited Action

Prohibited Action means any counterclaim, defense (other than a counterclaim or defense based on the factors set forth in sub-paragraphs (i) to (iv) of the definition of Credit Event) or right of set-off by or of a Reference Entity or any applicable Underlying Obligor.

Prohibited Action means the actions as set out in paragraph 6 of these Terms of Business.

Prohibited Action means any one or more of a Coercive Action, Collusive Action Corrupt Action, Fraudulent Action or Obstructive Action.

Prohibited Action has the meaning specified in Section 6.10(b).

Prohibited Action means the actions as set out in paragraph 14.1 of the Client Agreement.

Prohibited Action means, in respect of any Financed Property, a voluntary action or omission by any Loan Party or an action or omission by any third party authorized by a Loan Party that, in each case, such Loan Party intends to (i) result in an imposition of an Adverse Claim on such Property or (ii) constitute a Transfer in respect of such Property.

Prohibited Action means (x) rendering any services to, managing, operating, controlling, or acting in any capacity (whether as a principal, partner, director, officer, member, agent, employee, consultant, owner, independent contractor or otherwise and whether or not for compensation) for, any person or entity that is a Competitive Entity, or (y) acquiring any interest of any type in any Competitive Entity, including without limitation as an owner, holder or beneficiary of any stock, stock options or other equity interest (except as permitted by the next sentence). The following items shall not be considered a “Prohibited Action:” acquiring solely as an investment and through market purchases (i) securities of any Competitive Entity that are registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934 (the “Exchange Act”) and that are publicly traded, so the Participant or any entity under the Participant’s control are not part of any control group of such Competitive Entity and such securities, including converted or convertible securities, do not constitute more than one percent (1%) of the outstanding voting power of that entity and (ii) securities of any Competitive Entity that are not registered under Section 12(b) or 12(g) of the Exchange Act and are not publicly traded, so long as the Participant or any entity under the Participant’s control is not part of any control group of such Competitive Entity and such securities, including converted securities, do not constitute more than three percent (3%) of the outstanding voting power of that entity, provided that in each case the Participant has no active participation in the business of such entity.