Distributions/Dividends. None of the shares of stock covered by this Warrant shall be considered, for adjustment or for any other purpose whatsoever, as outstanding shares prior to the issuance of stock certificates therefor pursuant to exercise of this Warrant, and, with respect to the shares of stock covered by this Warrant, the Holder shall have no rights in or to any dividends or other distributions of cash or other property, paid or payable prior to such issuance of stock certificates.
Distributions/Dividends. Borrowers will not declare, pay or become obligated to declare or pay any capital, cash or other distributions or dividends on any class of their membership units or capital stock now or hereafter outstanding, make any distribution of capital, cash or property to holders of any membership units or shares of either Borrowers or shares of such stock or membership units, or redeem, retire, purchase or otherwise acquire, directly or indirectly, any shares of any class of their capital stock or membership units now, or hereafter outstanding; provided, however; (a) if and to the extent neither (i) any Default or Event of Default exists hereunder or under any of the other Loan Documents nor (ii) any Default or Event of Default would be caused by or result from such cash tax distribution ("Permitted Tax Distributions") after providing notice to Bank and providing Bank reasonably detailed calculations of the distribution amount thereof, and (b) further provided that Borrowers may make distributions from their Free Cash Flow to their respective Equity Interest owners during any fiscal quarter, so long as, both immediately before and after giving effect to such distribution and any borrowings through the date thereof, (i) no Default, Event of Default or Borrowing Base Deficiency exists or would result therefrom, (ii) the Leverage Ratio for the trailing twelve (12) month period ending on the date of such distribution would not exceed 2.0 to 1.0, (iii) the Current Ratio would not be less than 1.0 to 1.0, and (iv) there would be at least twenty percent (20%) available capacity for borrowing after any such distribution, based upon Bank's most recent redetermination of the Collateral Borrowing Base.
Distributions/Dividends. Borrower shall not declare or pay any dividends or make any distributions of any kind or make any other similar payments or set aside any sum for any such purpose, except that Borrower may declare and make dividends payable solely in shares of its common stock.
Distributions/Dividends. Nothing herein shall prohibit Company from making distributions to Sellers prior to the Closing Date of the assets set forth on Schedule 8.1. In particular, Purchaser acknowledges that Company is required to distribute to Sellers all proceeds which Company receives with respect to (a) the Purchase and Sale Agreement and (b) claims Company has made arising out of the Deepwater Horizon Oil Spill against BP Exploration and Production, Inc., BP American Production Company or other third parties (the “Oil Spill Claims”). In the event that, on or prior to the day before Closing, Company has not received all sums to which it is entitled related to the Oil Spill Claims, Company shall assign on the day before Closing its right to receive any additional sums related to the Oil Spill Claims to Sellers or their assignees. Subject to Section 10.2(e), Purchaser hereby agrees to cause Company to distribute to Sellers or their assignees any additional sums related to the Oil Spill claims Company receives subsequent to Closing.
Distributions/Dividends. While a Phantom Share remains “outstanding” pursuant to this Agreement, an amount equivalent to all distributions, if any, made on a share of Common Stock during such period shall be held by the Company without interest until the Phantom Share becomes vested and then paid to you or is forfeited, as the case may be. If and only if the Phantom Shares become vested and payable to you, the Company shall pay such accumulated distributions to you at the same time as the related Phantom Shares are paid to you, subject to Paragraph 8 below.
Distributions/Dividends. The Board will determine, from time to time in accordance with the Articles the extent to which distributions and/or dividends will be made to holders of Shares and the manner and/or form any such distributions and/or dividends will take and be made.
Distributions/Dividends. Declare, pay, set aside funds for or make any distribution or dividend, in cash or assets or trust, to or for the benefit of the Borrower's shareholders.
Distributions/Dividends. Borrower will not declare, pay or become obligated to declare or pay any capital, cash or other distributions or dividends on any class of its units or interests now or hereafter outstanding, make any distribution of capital, cash or property to holders of any shares of Borrower or shares of such units or interests, or redeem, retire, purchase or otherwise acquire, directly or indirectly, any shares of any class of capital stock or interests now, or hereafter outstanding without the prior written consent of the Bank; provided, however; if and to the extent neither (i) any Event of Default exists hereunder or under any of the other Loan Documents nor (ii) any Default or Event of Default would be caused by or result from such cash distribution, Borrower may make cash distributions to its equity member(s) only for payment of income taxes attributable to Borrower's "pass through" status with reasonably detailed calculations of the distribution amount thereof to be timely furnished to Bank.
Distributions/Dividends. Make any distribution or declare or pay any dividend on any of its Stock now outstanding or hereafter issued or purchase, redeem or retire any of such Stock other than in dividends or distributions payable in Borrower's Stock, except for the repurchase of Borrower's Stock from officers, directors, employees or consultants of Borrower upon termination of their employment with or rendering of service to Borrower;
