restricted payments

restricted payments
USA
A term defined in bank loan agreements and other debt agreements that typically includes payments of dividends, repurchases and redemptions of equity interests and distributions to equity holders. Loan agreements usually contain a negative covenant that prohibits the borrower from making restricted payments except for a specified list of permitted exceptions.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно решить контрольную?

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