Restricted Payments

Restricted Payments. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except (a) the Borrower may declare and pay dividends with respect to its Equity Interests payable solely in additional shares of its common stock, (b) Restricted Subsidiaries may declare and pay dividends ratably with respect to their Equity Interests, (c) the Borrower may make Restricted Payments pursuant to and in... accordance with stock option plans or other benefit plans for management or employees of the Borrower and its Restricted Subsidiaries, (d) so long as no Default shall be continuing or result therefrom the Borrower may make additional Restricted Payments in an aggregate amount not greater than $150,000,000 from the period from the Amendment Effective Date (as defined in the Second Amendment to Credit Agreement dated as of March 31, 2016 among the Borrower, the Lenders party thereto and the Administrative Agent) through June 30, 2017; provided that the aggregate amount of Restricted Payments under this clause (d) shall not exceed (i) $100,000,000 in the aggregate prior to December 31, 2016 and (ii) $50,000,000 per fiscal quarter and (e) beginning July 1, 2017, so long as no Default shall be continuing or result therefrom, the Borrower may make additional Restricted Payments either (i) on an unlimited basis, if at the time of making such Restricted Payment the Funded Indebtedness to EBITDA Ratio, calculated on a pro forma basis, is less than to 2.0 to 1.0, (ii) in an aggregate amount not greater than $50,000,000 per fiscal year, if at the time of making such Restricted Payment the Funded Indebtedness to EBITDA Ratio, calculated on a pro forma basis, is 2.0 to 1.0 or more, but less than 2.25 to 1.0 or (iii) in an aggregate amount not greater than $20,000,000 per fiscal year, if at the time of making such Restricted Payment the Funded Indebtedness to EBITDA Ratio, calculated on a pro forma basis, is to 2.25 to 1.0 or more. View More

Restricted Payments. Means any of the following: (i) dividends and other distribution payments by Maker or any of its Subsidiaries to any Affiliates other than Maker or a wholly-owned Subsidiary of Maker; (ii) loans or other advances by Maker or any of its Subsidiaries to any Person, other than loans made to Maker or any of its Subsidiaries and loans made in the ordinary course of business on an arms' length basis to unrelated third parties; and (iii) asset transfers (including real and personal property of any... nature, tangible or intangible) by Maker or any of its Subsidiaries to any Person other than Maker or a wholly-owned Subsidiary of Maker, other than asset transfers at fair market value in exchange for at least eighty percent cash with the balance due on market terms from a credit worthy entity. View More

Restricted Payments. Means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in Gulf Island or any Subsidiary. Restricted Payments include, but are not limited to any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in Gulf Island or any Subsidiary or any option, warrant... or other right to acquire any such Equity Interests in Gulf Island or any Subsidiary. View More