Payments Prohibited Clause Samples
The "Payments Prohibited" clause serves to explicitly forbid certain types of payments under the agreement. It typically outlines specific circumstances or categories of payments that are not allowed, such as payments to sanctioned entities, for illegal activities, or in violation of applicable laws. By clearly identifying prohibited payments, this clause helps prevent legal violations and ensures that all financial transactions under the contract remain compliant with relevant regulations.
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Payments Prohibited. The WSIB shall make no payment in advance or in anticipation of services or supplies to be provided under this Contract.
Payments Prohibited. (a) No prize may be paid to the director or an employee of the lottery, or a member of their families residing in the same household of the member, director, or employee. No prize may be paid to an officer or employee of a vendor which at the time the game or drawing was being conducted was involved with providing goods or services to the lottery under a lottery procurement contract.
(b) No prize may be paid for a stolen, altered, or fraudulent ticket.
Payments Prohibited. If applicable, there is to be no payment in advance or in anticipation of services or supplies to be provided under this Agreement.
Payments Prohibited. No advance payment shall be made for services furnished by the Bank pursuant to this Agreement.
Payments Prohibited. Notwithstanding anything contained herein or in the Subordinate Loan Documents to the contrary, but subject in all respect to Section 10 hereof, until such time as the Credit Agreement Obligations have been finally and indefeasibly paid in full in cash and all obligations of the Senior Lenders under the Credit Agreement Loan Documents have terminated, no Venus Credit Party shall make, and Subordinate Lender shall not accept, receive or retain, any payment on the Subordinate Obligations (whether in cash, property or securities); provided, that, unless such payments are prohibited pursuant to Sections 4, 5 or 6 hereof, Venus shall be permitted to make, and Subordinate Lender shall be permitted to receive and retain, regularly scheduled payments of interest when due on the Subordinate Note at the rates and in the amounts provided in the Subordinate Note; and provided further that nothing contained herein shall be deemed to limit the right of Subordinate Lender to (a) convert the Subordinate Note to the common equity of Venus at any time, or (b) to receive and retain interest payments which are solely in the form of PIK payments.
Payments Prohibited. DSHS shall not make any payments in advance or anticipation of the delivery of goods or services to be provided pursuant to this Contract.
Payments Prohibited. The Partnership shall not (i) return to either Partner all or any portion of its Capital Contribution or (ii) make any distribution of Net Income at any time when a default in the payment of the principal of or premium or interest on any of the 7.79% Subordinated Capital Notes, Series D, due 2011 or the 7.33% Subordinated Capital Notes due 2014 of the Partnership (the “Capital Notes”) or any other indebtedness for money borrowed of the Partnership ranking on a parity with such Capital Notes shall have occurred and be continuing; and any such act shall constitute a violation of this Agreement prohibited by Article Six (B)(iii).
Payments Prohibited. No payment in advance or in anticipation of services to be provided under this contract shall be made by the AOC.