Restriction on Payment Clause Samples
A Restriction on Payment clause limits or conditions the circumstances under which payments can be made by one party to another. Typically, this clause may prohibit payments if certain events occur, such as a default, insolvency, or breach of contract, or it may require that specific conditions be met before any payment is released. By imposing these limitations, the clause helps protect the interests of the payor, ensuring that funds are not disbursed in situations that could increase risk or violate the terms of the agreement.
Restriction on Payment. Intra-Group Liabilities) and 8.2 (Permitted Payments: Intra-Group Liabilities) even if its obligation to make that Payment is restricted at any time by the terms of any of those Clauses.
Restriction on Payment. Intra-Group Liabilities
(a) that Payment is permitted under Clause 8.2 (Permitted Payments: Intra-Group Liabilities); or
(b) the taking or receipt of that Payment is permitted under paragraph (c) of Clause 8.7 (Permitted Enforcement: Intra-Group Lenders).
Restriction on Payment. Subordinated Liabilities
Restriction on Payment. Intra-Group Liabilities
Restriction on Payment. Hedging Liabilities
(a) that Payment is permitted under Clause 4.3 (Permitted Payments: Hedging Liabilities); or
(b) the taking or receipt of that Payment is permitted under paragraph (c) of Clause 4.9 (Permitted Enforcement: Hedge Counterparties).
Restriction on Payment. None of the Unvested Cash or any beneficial interest therein shall be transferred, encumbered or otherwise disposed of in any way until the occurrence of the Vesting Date. In addition, as a condition to any payment of Vested Cash after the Vesting Date, the Company may, in its discretion, require fulfillment of any requirements deemed necessary by counsel for the Company to comply with applicable law, including tax withholding requirements.
Restriction on Payment. Investor Liabilities
(a) that Payment is permitted under Clause 7.2 (Permitted Payments: Investor Liabilities); or
(b) the taking or receipt of that Payment is permitted under Clause 7.6 (Permitted enforcement: Investors).
Restriction on Payment. Subordinated Liabilities) even if its obligation to make that payment or distribution is restricted at any time by the terms of Clause 11.1 (
Restriction on Payment. Bondco Liabilities) even if its obligation to make that Payment is restricted at any time by the terms that Clause.
Restriction on Payment. Second Lien Liabilities
(a) that Payment is permitted under Clause 5.2 (Permitted Payments: Second Lien Liabilities), Clause 9.5 (Filing of claims) or Clause 16 (Additional debt); or
(b) the taking or receipt of that Payment is permitted under Clause 5.8 (Permitted Second Lien enforcement).