Dividend Distribution. Each Obligor shall not, and shall procure each member of the Group not to, declare or pay any dividend or make any other income distribution to its shareholders without the prior written consent of the Lender.
Dividend Distribution. Dividends (including bonus dividend) are recognized in the period in which these are approved.
Dividend Distribution. The Shareholders shall formulate a mutually agreeable dividend distribution policy for the Company, which policy shall provide for the distribution of an annual amount, net after taxes (including withholding tax), of at least US$ 2 million with respect to calendar year 2004, and at least US$4.5 million, effective as of calendar year 2005, and shall utilize their best efforts to cause the Company to adopt such policy, subject to: (a) the provisions of applicable law (including NYSE requirements); (b) any undertaking and commitment made or to be made towards banks and other creditors; (c) the decision of the Company's Board of Directors, taking into account the Company's financial needs, investments and all other relevant aspects.
Dividend Distribution. Declare or pay any cash dividends when an Event of Default or Prospective Event of Default has occurred. Table of Contents
Dividend Distribution. The Company aims to distribute as much yearly dividend as reasonably and commercially possible to its Shareholders.
Dividend Distribution. It is the view of the Shareholders that Ormat Technologies should distribute in each calendar year dividends in an amount equal to twenty percent (20%) of its profits available for distribution, all subject to the provisions of applicable law.
Dividend Distribution. (a) Subject to Article 3.4 and except for any redemption of the redeemable shares pursuant to the Subscription Agreement or Article 8.2 (which shall be made as, when and for the consideration required by such agreement or Article), the Company shall declare or pay dividends and other distributions on the Shares as and when determined by the Board of Directors in its sole discretion.
(b) Except as provided in Article 8.2, the Shareholders agree that the Company shall pay all dividends or distributions on the Shares to the Shareholders on a pro rata basis in proportion to their respective ownership percentages of the Company, which shall be calculated without regard to whether a Shareholder owns ordinary shares, redeemable shares or both types of shares; provided that any redemption of redeemable shares pursuant to the Subscription Agreement or Article 8.2 shall be made as, when and for the consideration required by such agreement or Article. For further clarity, on the date hereof KRD Kurdoğlu’s ownership percentage in the Company is 69% and Cartesian’s ownership percentage in the Company is 31%.
Dividend Distribution. For as long as the debentures have not been listed on the Stock Exchange – the Company will not distribute a dividend if the Company’s known net financial indebtedness on the distribution date exceed three times the accumulated EBITDA in the four last calendar months included in the Company’s financial statements certified by its board of directors prior to the distribution date.
Dividend Distribution. During the period when the Present Investor holds the Company’s equity, it shall be entitled to share dividends on the distributable profits generated by the Company.
Dividend Distribution. Subject to applicable law, during the term of this Agreement, the Shareholders agree to direct the Directors designated by them (to the extent permitted by applicable law) to cause the Company to distribute annual dividends in an aggregate amount of at least 40% of the Company's profits (as determined under Section 302(b) of the Companies Law) for each Shareholders Agreement relevant year. The Shareholders' internal agreement under this Section 10 shall not be deemed to constitute a dividend policy of the Company. Furthermore, the Shareholders may, by mutual consent, modify the foregoing agreement between the Parties regarding dividend distributions without being obligated to substantiate or explain any such modification to any third party.
