Common use of Capital Stock and Dividends Clause in Contracts

Capital Stock and Dividends. If a Default or Unmatured Default exists before or after giving effect thereto, the Parent will not, nor will it permit any Subsidiary to, (a) issue (except by a Subsidiary to the Parent or any Wholly-Owned Subsidiary) any preferred stock, other capital stock or any equity securities of any kind, in each case, subject to sinking fund payments or other mandatory redemptions or payments prior to the Facility Termination Date or (b) declare or pay any dividends or make any distributions on its capital stock (other than dividends payable in its own capital stock and dividends payable in cash to the Parent or a Wholly-Owned Subsidiary of the Parent) or redeem, repurchase or otherwise acquire or retire any of its capital stock at any time outstanding.

Capital Stock and Dividends. If a Default or Unmatured Default exists before or after giving effect thereto, the Parent Borrower will not, nor will it permit any Subsidiary to, (a) issue (except by a Subsidiary to the Parent Borrower or any Wholly-Owned Subsidiary) any preferred stock, other capital stock or any equity securities of any kind, in each case, subject to sinking fund payments or other mandatory redemptions or payments prior to the Facility Termination Date or (b) declare or pay any dividends or make any distributions on its capital stock (other than dividends payable in its own capital stock and dividends payable in cash to the Parent Borrower or a Wholly-Owned Subsidiary of the ParentBorrower) or redeem, repurchase or otherwise acquire or retire any of its capital stock at any time outstanding.