Prohibited Distribution definition

Prohibited Distribution by any Person means (a) the retirement, redemption, purchase, or other acquisition for value of any capital stock or other equity securities or partnership interests issued by such Person, (b) the declaration or payment of any dividend or distribution on or with respect to any such securities (excluding distributions made solely in shares of stock of the same class) or partnership interests, (c) any loan or advance by such Person to, or other investment by such Person in, any other Person, and (d) any other payment by such Person in respect of such securities or partnership interests.

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Prohibited Distribution means any dividends or other distributions received by a Purported Transferee in respect of Excess Securities.

Prohibited Distribution has the meaning set forth in Section 14(o) hereof.

Examples of Prohibited Distribution in a sentence

Unless the Buying Companies make or cause to be made a Code Section 338 election for Amicon Canada, Ltd., Amicon GmbH, all of the Prochrom Companies and Amicon U.K. (hereinafter the foregoing corporations collectively will be referred to as the "1248 Companies"), the Buying Companies shall not cause or permit any of the 1248 Companies to make any distributions that would be classified as a dividend under Code Section 301 on or before December 31, 1997 (a "Prohibited Distribution").
Declare or make any Prohibited Distribution or Prohibited Payment; provided, that Borrower may declare and pay dividends to TBM Holdings, Inc.
Borrower shall not, directly or indirectly declare or make any Prohibited Distribution or Prohibited Payment.
Declare or make any Prohibited Distribution or Prohibited Payment; provided, however, so long as no Event of Default has occurred and is continuing or would result therefrom, Borrower may pay dividends to its preferred shareholders that do not exceed $360,000 in the aggregate in any fiscal year.
The Buying Companies shall indemnify the Selling Companies and the other members of the Grace Group against any and all additional U.S. federal and state taxes that may be caused by or arise out of any Prohibited Distribution by an Amicon Company to Buyer or any member of Buyer Group.

More Definitions of Prohibited Distribution

Prohibited Distribution. The Software includes strong cryptographic features. The United States Department of Commerce, and with the United States Export Administration Act require that the Software is not exported in violation of United States Law. You acknowledge that the Software may be subject to export regulations, and agree not to export or transfer any portion of the Software in violation of any United States or other applicable laws. Licensee asserts they have the responsibility to obtain any export classifications and licenses as may be required to comply with such laws.

Prohibited Distribution by any Person means (a) the retirement, redemption, purchase, or other acquisition for value of any capital stock or other equity securities or partnership interests issued by such Person, (b) the declaration or payment of any dividend or distribution on or with respect to any such securities (excluding distributions made solely in shares of stock of the same class) or partnership interests, (c) any loan or advance by such Person to, or other Investment by such Person in, any other Person, and (d) any other payment by such Person in respect of such securities or partnership interests, without the prior written consent of Lender, which consent shall not be unreasonably withheld.

Prohibited Distribution means, in relation to the Controlled Liabilities: (a) any payment or repayment, purchase or acquisition, reduction or redemption (in whole or in part), of any of the Controlled Liabilities (whether in cash or in kind); (b) any Distribution in satisfaction (in whole or in part), of any of the Controlled Liabilities; (c) (save only to the extent it may be required to do so, or the same occurs automatically by operation of law, under any applicable law (not including, for the avoidance of doubt, under any contract)) any set-off against any of the Controlled Liabilities; (d) (without prejudice to the generality of (a) to (c) above) any dividend, or any money in redemption, reduction, repayment, purchase, cancellation or other extinguishment of any share capital or any other Distribution in respect of such share capital to any person (including, without limitation, to the Shareholders or an Intra-Group Creditor) or interest in respect of, or the repayment, redemption or purchase of, any loan stock and loan notes or similar instrument issued by any Obligor, in each case, other than in relation to any payment contemplated in paragraph (a) to (d) above to the extent that it is made pursuant to or for the purposes of giving effect to the Periodic Repayment Obligations in compliance with the provisions of the Senior Facilities Agreement or pursuant to a “Permitted Distribution” as defined in the Senior Facilities Agreement.

Prohibited Distribution has the meaning set forth in Section 1.4(a).

Prohibited Distribution by any Person means (a) the retirement, redemption, purchase, or other acquisition for value of any capital stock or other equity, securities, membership, or partnership interests issued by such Person, (b) the declaration or payment of any dividend or distribution on or with respect to any such equity or securities interest (excluding distributions made solely in shares of stock of the same class) or partnership interests, (c) any loan or advance by such Person to, or other Investment by such Person in, any other Person, and (d) any other payment by such Person in respect of such equity, securities or partnership interests.

Prohibited Distribution means, in relation to the Controlled Liabilities: