Examples of Restricted Junior Payment in a sentence
None of the Borrower, any of its Subsidiaries of or any other Credit Party shall, directly or indirectly, declare, order, pay, make or set apart any sum for (i) any Restricted Junior Payment, (ii) Indebtedness owed to any Affiliate of a Credit Party; provided that so long as no Default or Event of Default has occurred, is continuing or would result therefrom, the Borrower may make dividends and distributions to its members as contemplated by Section 3.03(c) of the Borrower Operating Agreement.
The Borrower shall not make or permit to be made any Restricted Junior Payment, except that, at all times prior to the Final Maturity Date and so long as no Borrowing Base Deficiency, Event of Default or Unmatured Event of Default has occurred or would result therefrom, the Borrower may declare and make Restricted Junior Payments that comply with the terms of its Operating Agreement and Applicable Law.
Seller will not make any Restricted Junior Payment if after giving effect thereto, Seller’s Net Worth (as defined in the Receivables Sale Agreement) would be less than the Required Capital Amount (as defined in the Receivables Sale Agreement).
The Borrower shall not make (i) any Restricted Junior Payment, except (A) as expressly permitted under Section 2.08 and (B) so long as no Event of Default has occurred or would result therefrom and pro forma LTV is equal to or less than 60%, or (ii) distributions of Portfolio Assets except as expressly contemplated under Section 2.10.
Notwithstanding the foregoing, in no event shall any Loan Party make any Investment which results in or facilitates in any manner any Restricted Junior Payment not otherwise permitted under the terms of Section 6.5.