Upstream Payment a Distribution by a Subsidiary of a Borrower to such Borrower.
Upstream Payment a Distribution by a Subsidiary of a Borrower to such Borrower. Value: (a) for Inventory, its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding any portion of cost attributable to intercompany profit among Borrowers and their Affiliates; and (b) for an Account, its face amount, net of any returns, rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) that have been or could be claimed by the Account Debtor or any other Person.
Examples of Upstream Payment in a sentence
Declare or make any Distributions, except Upstream Payments and other Distributions so long as the Payment Conditions are satisfied with respect to each such other Distribution; or create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions under the Loan Documents, under Applicable Law or in effect on the Closing Date as shown on Schedule 9.1.15.
Declare or make any Distributions, except Upstream Payments, and Permitted Distributions; or create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any Upstream Payment, except for restrictions under the Loan Documents, under Applicable Law or in effect on the Closing Date as shown on Schedule 9.1.15.
More Definitions of Upstream Payment
Upstream Payment a Distribution by a Subsidiary of a Borrower to such Borrower or to another Subsidiary of such Borrower that is an Obligor.
Upstream Payment means a Distribution by a Subsidiary of the Issuer to the Issuer or to another Subsidiary of the Issuer that holds Equity Interests in such Subsidiary so long as the Issuer or the Subsidiary that holds Equity Interests in such Subsidiary received at least its pro rata share of such Distribution based on its relative ownership of such Subsidiary.
Upstream Payment. Distribution by a Subsidiary made ratably with respect to its Equity Interests and Distributions by an Obligor to another Obligor or made with respect to Debt held by a holder of Equity Interests (other than distributions by Borrower to holders of Equity Interests in Borrower); it being understood and agreed that nothing in this definition shall permit or be deemed to permit any Distribution by an Obligor with respect to Debt held by a holder of Equity Interest that is not an Obligor.
Upstream Payment means a Distribution by a Subsidiary of a Loan Party to such Loan Party.
Upstream Payment means a payment or distribution of cash or other property by a Subsidiary of a Borrower to such Borrower, whether in repayment of Indebtedness owed by such Subsidiary to such Borrower, to pay dividends on account of such Borrower's ownership of Equity Interests or otherwise.
Upstream Payment means Distribution by a Restricted Subsidiary made ratably with respect to its Equity Interests and Distributions by a Borrower to another Borrower or made with respect to Indebtedness held by a holder of Equity Interests (other than holders of Equity Interests in the Par Borrower); it being understood and agreed that nothing in this definition shall permit or deemed to permit any Distribution by an Obligor with respect to Indebtedness held by a holder of Equity Interest that is not an Obligor.
Upstream Payment means a payment or distribution of cash or other Property by a Subsidiary of a Borrower to such Borrower, whether in repayment of Debt owed by such Subsidiary to such Borrower, as a dividend or distribution on account of such Borrower’s ownership of Equity Interests or otherwise. U.S. Availability – means on any date, the amount that U.S. Borrowers are entitled to borrow as U.S. Revolver Loans on such date, such amount being the difference derived when the aggregate principal amount of U.S. Revolver Outstandings (including any amounts that Administrative Agent or U.S. Revolver Lenders may have paid for the account of U.S. Borrowers pursuant to any of the Credit Documents and that have not been reimbursed by U.S. Borrowers) is subtracted from the lesser of (x) the aggregate U.S. Revolver Commitment then in effect and (y) the U.S. Borrowing Base on such date. If the amount outstanding is equal to or greater than the lesser of (x) the aggregate U.S. Revolver Commitment then in effect and (y) the U.S. Borrowing Base, on such date U.S. Availability is zero.