Proscribed Action definition

Proscribed Action shall have the meaning set forth in Section 8.9.
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Proscribed Action means (A) any Investment Related Action (including the execution of any agreement or other instrument or the consummation of any transaction or other arrangement) that (1) would involve, authorize or result in (i) any new, or any increase of any existing, funding commitment of the Company, (ii) any action (including the execution of any agreement or other instrument or the consummation of any transaction or other arrangement) that purports to impose any obligation on, or otherwise to bind (except to the extent that such action, if taken by the Company, would be binding as against Fundamental, as a member of the Company, solely by reason of it being binding as against the Company), Fundamental in any
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Examples of Proscribed Action in a sentence

  • For purposes of this Section 2.5, the parties shall assume that the Sellers will sell to third parties in a registered secondary offering in connection with the IPO 20% of the shares of Concho Resources Common Stock and any such sale by the Sellers of up to 20% of the shares of Concho Resources Common Stock shall not, with respect to the Sellers, be considered a Proscribed Action.

  • A Proscribed Action shall not include a redemption of Concho Resources Common Stock by Concho Resources.

  • A Proscribed Action shall not include a distribution of ARI Common Stock by the AOG Stockholders and Yorktown VII to their respective partners.

  • For purposes of this Section 8.9, the parties shall assume that Neo Canyon will sell to third parties in a registered secondary offering in connection with the ARI Initial Public Offering up to the maximum number of shares that it could sell without violating the “control” requirements in Section 351 of the Code and any such sale by Neo Canyon of such shares of ARI Common Stock shall not, with respect to Neo Canyon, be considered a Proscribed Action.