Subsidiary Dividends. Borrower shall not permit its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of such Subsidiary to: (a) pay any dividends or make any other distributions on its capital stock or any other interest or (b) make or repay any loans or advances to Borrower.
Appears in 3 contracts
Sources: Bridge Loan Agreement (Boldface Group, Inc.), Bridge Loan Agreement (Max Cash Media Inc), Bridge Loan Agreement (Cahaba Pharmaceuticals, Inc.)
Subsidiary Dividends. Borrower shall not permit its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any such Subsidiary to:
(a) pay any dividends or make any other distributions on its capital stock or any other interest or
(b) make or repay any loans or advances to Borrower.
Appears in 1 contract
Sources: Bridge Loan Agreement (UFood Restaurant Group, Inc.)
Subsidiary Dividends. Borrower shall not permit its Subsidiaries Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of such Subsidiary to:
(a) pay any dividends or make any other distributions on its capital stock or any other interest or
(b) make or repay any loans or advances to Borrower.
Appears in 1 contract
Sources: Bridge Loan Agreement (Federal Sports & Entertainment, Inc.)