Restricted Junior Payments shall have the meaning provided in Section 9.07(a).
Restricted Junior Payments means (i) any dividend or other distribution to the shareholders of the Borrower (whether direct or indirect and whether in cash, property, Securities or otherwise) on account of any shares of any class of capital stock (or equivalent partnership interest) of the Borrower now or hereafter outstanding, (ii) any payment or prepayment of principal of, premium, if any, or interest on, or fees in respect of, redemption, conversion, exchange, purchase, retirement, defeasance, sinking fund or similar payment with respect to any Consolidated Subordinated Debt after the occurrence of an Event of Default and (iii) any prepayment in advance of anticipated and scheduled payment dates of principal of, premium, if any, or interest on, or fees in respect of, redemption, conversion, exchange, purchase, retirement, defeasance, sinking fund or similar payment with respect to any Consolidated Subordinated Debt (except for (a) prepayments in connection with the refinance of such Consolidated Subordinated Debt in amounts and on terms and conditions equal to or better than the existing terms and conditions and (b) prepayments of up to $1,000,000.00 in the aggregate of outstanding principal on any said Consolidated Subordinated Debt).
Restricted Junior Payments means any payment (whether in cash or other property or whether by setoff or otherwise) of (a) any fees, allowance or other similar arrangement directly or indirectly paid or payable to the members of the board of directors (or equivalent) of any Person in any such Person’s capacity as a member of the board of directors (or equivalent) of such Person (“Board of Directors Fees”), or (b) any payment of any Subordinated Indebtedness, including any payments pursuant to the Seller Notes.
Examples of Restricted Junior Payments in a sentence
Borrower will not use the proceeds of the Advances for any purpose other than (i) paying for Receivables and Related Security under and in accordance with the Receivables Sale Agreement, including without limitation, making payments on the Subordinated Notes to the extent permitted thereunder and under the Receivables Sale Agreement, (ii) paying its ordinary and necessary operating expenses when and as due, and (iii) making Restricted Junior Payments to the extent permitted under this Agreement.
Make any Restricted Junior Payment; provided, that prior to the Amortization Date, the Borrower may make Restricted Junior Payments so long as (i) no Default or Event of Default shall then exist or would result therefrom and (ii) such Restricted Junior Payments have been approved by all necessary action on the part of the Borrower and in compliance with all applicable laws.
The provisions of this subsection 6.5 shall not be breached by the payment of any Restricted Junior Payments to Holdings for the purposes of Holdings making a dividend payment under clause (x) of Holdings Ordinary Course Payments definition within 60 days after the declaration of the dividend by Holdings, if at such date of declaration, the making of such payment would not have been in violation of this subsection.
Make any Restricted Junior Payment; provided, that prior to the Termination Date, the Borrower may make Restricted Junior Payments so long as (i) no Event of Termination or Incipient Event of Termination shall then exist or would result therefrom and (ii) such Restricted Junior Payments have been approved by all necessary action on the part of the Borrower and in compliance with all applicable laws.
The Loan Parties shall not make any Restricted Junior Payment; provided, that the Loan Parties may make Restricted Junior Payments so long as (i) no Default or Event of Default shall then exist or would result therefrom, (ii) such Restricted Junior Payments have been approved by all necessary action on the part of the Loan Parties and in compliance with all applicable laws and (iii) such Restricted Junior Payments are paid from Unrestricted Cash.
More Definitions of Restricted Junior Payments
Restricted Junior Payments means the collective reference to Restricted Equity Payments made pursuant to Section 6.06(c) and Restricted Debt Payments made pursuant to the first proviso contained in Section 6.09(b)(i). The amount of Restricted Equity Payments made pursuant to Section 6.06(c) shall be determined without double counting in the case of Restricted Equity Payments made to UCAR, the Borrower or any Subsidiary to the extent used by such person to make a Restricted Equity Payment.
Restricted Junior Payments means (i) any dividend or other distribution, direct or indirect, on account of any membership interest of any class of Seller now or hereafter outstanding, except a dividend payable solely in membership interests of Seller of that class or any junior class, (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of Seller now or hereafter outstanding, (iii) any payment or prepayment of principal of, premium, if any, or interest, fees or other charges on or with respect to, and any redemption, purchase, retirement, defeasance, sinking fund or similar payment and any claim for rescission with respect to the Subordinated Loans, (iv) any payment made to redeem, purchase, repurchase or retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire any membership interest of Seller now or hereafter outstanding, and (v) any payment of management fees by Seller (except for reasonable management fees to the applicable Originator or its Affiliates in reimbursement of actual management services performed).
Restricted Junior Payments means (i) any cash dividend or other distribution to the shareholders of any of the Borrowers (whether direct or indirect and whether in cash, property, Securities or otherwise) on account of any shares of any class of capital stock of any of the Borrowers, now or hereafter outstanding, (ii) any scheduled payment of principal of, premium, if any, or interest on, or fees in respect of, redemption, conversion, exchange, purchase, retirement, defeasance, sinking fund or similar payment with respect to any Consolidated Subordinated Debt of any of the Borrowers after the occurrence of an Event of Default and (iii) any prepayment in advance of anticipated and scheduled payment dates of principal of, premium, if any, or interest on, or fees in respect of, redemption, conversion, exchange, purchase, retirement, defeasance, sinking fund or similar payment with respect to any Consolidated Subordinated Debt of any of the Borrowers (except for prepayments in connection with the refinance of such Consolidated Subordinated Debt in amounts and on terms and conditions equal to or better than the existing terms and conditions).
Restricted Junior Payments means (i) any dividend or other -------------------------- distribution to any of the Shareholders of the Borrower, any of the Guarantors, their respective Subsidiaries and/or Affiliates (whether direct or indirect and whether in cash, property, Securities or otherwise) on account of any stock ownership interest of the Borrower, any of the Guarantors, their respective Subsidiaries and/or Affiliates now or hereafter outstanding, (ii) any redemption, conversion, exchange, retirement, sinking fund or similar payment, purchase or other acquisition for value (whether direct or indirect) or any shares of any class of stock of the Borrower, any of the Guarantors, their respective Subsidiaries and/or Affiliates now or hereafter outstanding, (iii) any prepayment of principal of, premium, if any, or interest on, or fees in respect of, redemption, conversion, exchange, purchase, retirement, defeasance, sinking fund or similar payment with respect to any Consolidated Debt and (iv) any prepayment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of stock of the Borrower, any of the Guarantors, their respective Subsidiaries and/or Affiliates now or hereafter outstanding.
Restricted Junior Payments. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, declare, order, pay, make or set apart any sum for any Restricted Junior Payment except the following shall be permitted: Parent Guarantor may make regularly scheduled payments of interest and principal in respect of any Parent Guarantor Permitted Indebtedness in accordance with the terms of, and only to the extent required by the indenture or other agreement pursuant to which such Indebtedness was issued; Company may make Restricted Junior Payments to Parent Guarantor (i) so long as no Default or Event of Default shall have occurred and be continuing or shall be caused thereby, in an amount sufficient to Permit Parent Guarantor to make the payments of the interest and principal reference to in the preceding clause (a); (ii) in an aggregate amount not to exceed $1,000,000 in any fiscal year, to the extent necessary to permit Parent Guarantor to pay general administrative costs and expenses (including overhead, accounting and legal fees), regulatory expenses and filing fees and expenses and out-of-pocket costs of permitted offerings of Indebtedness and equity and (iii) to the extent necessary to permit Parent Guarantor to discharge the consolidated tax liabilities of Parent Guarantor and its Subsidiaries, in each case so long as Parent Guarantor applies the amount of any such Restricted Junior Payment for such purpose; and Parent Guarantor may redeem Parent Guarantor Permitted Indebtedness with the proceeds of equity offerings by the Parent Guarantor to the extent permitted under the term of the documents pursuant to which the Parent Guarantor Permitted Indebtedness was issued; provided that no more than 35% of the -------- outstanding principal amount of any issuance of Parent Guarantor Permitted Indebtedness may be so redeemed.
Restricted Junior Payments means (a) any dividend or other distribution, direct or indirect, on account of any shares of any class of stock of ResCap or any of its Subsidiaries outstanding as of the Closing Date or thereafter outstanding, except a dividend payable solely in shares of that class of stock to the holders of that class; (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of stock of ResCap or any of its Subsidiaries outstanding as of the Closing Date or thereafter outstanding; (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of stock of ResCap or any of its Subsidiaries outstanding as of the Closing Date or thereafter outstanding; (d) management or similar fees payable to Sponsor or any of its Affiliates; or (e) any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in substance or legal defeasance), sinking fund or similar payment with respect to, any Specified Prepetition Indebtedness or any Indebtedness incurred pursuant to the Master Purchase Documents or the Origination Order.
Restricted Junior Payments means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class of stock of, or other Equity Interest in, any member of the Consolidated Group now or hereafter outstanding, except a dividend payable solely in shares of stock or other Equity Interests of such member, (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of stock of, or other Equity Interest in, any member of the Consolidated Group now or hereafter outstanding, (iii) any payment made to retire, or to obtain