Permitted Payments

Permitted Payments. With respect to the Subordinated Indebtedness, payment of (a) common Equity Interests of the Parent in connection with (i) the payment of interest under Section 2 of the Subordinated Note or (ii) the conversion of the outstanding principal of and accrued interest on the Subordinated Indebtedness into common Equity Interests of the Parent pursuant to Section 4 of the Subordinated Note, (b) Restructuring Securities in connection with an Insolvency Proceeding, (c) PIK Payments, and (d) from... January 1, 2018, through and including December 31, 2018, such amounts (not exceeding the Effective Date Amount) as are permitted to be paid by the Loan Parties under Section 7.17(b)(iv) of the Senior Loan Agreement. View More

Permitted Payments. Any payments, distributions or transfers with respect to (i) any Permitted Indebtedness (in the case of Subordinated Indebtedness, to the extent permitted by the relevant subordination or intercreditor agreement) and (ii) any Permitted Distributions.

Permitted Payments. Means (i) payments of interest in kind on the Subordinated Debt made as compounded interest, added to the aggregate principal amount of the Subordinated Debt, (ii) other payments in respect of Subordinated Debt that are not Capped Obligations in an amount not in excess of $25,000 per each Fiscal Quarter of the Borrower, and (iii) indefeasible payment in full in cash of all Subordinated Debt held by Equilon Enterprises LLC d/b/a Shell Oil Products US on or after the occurrence of a New Buyer... Event in connection with a Transfer or refinancing thereof as contemplated by, and in accordance with the terms of, Section 2.8 View More

Permitted Payments. (a) scheduled repayments of principal when due under the Subordinated Loan Documents as in effect on the date hereof or amended in accordance with the terms hereof (but no prepayments, whether optional or mandatory); (b) scheduled payments of accrued interest (whether payable in cash or in-kind) when due under the Subordinated Loan Documents as in effect on the date hereof or as amended in accordance with the terms hereof (including as may accrue during any Insolvency Proceeding of Borrower or... any Guarantor); (c) all reimbursable expenses, costs and professional fees and expenses as and when due under the Subordinated Loan Documents in an annual aggregate amount not to exceed One Hundred Fifty Thousand Dollars ($150,000); and (d) other payments consented to in writing by Bank. View More