We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Dividend Distributions Clause in Contracts

Dividend Distributions. Declare or pay any dividend or distribution in excess of fifty percent (50%) of Borrower's net income in any fiscal year either in cash, stock or any other property on Borrower's stock now or hereafter outstanding, nor redeem, retire, repurchase in excess of $15,000,000.00 in any 12 month period effective as of the date of this Agreement, or otherwise acquire any shares of any class of Borrower's stock now or hereafter outstanding.

Appears in 2 contracts

Samples: Credit Agreement (Knight Transportation Inc), Credit Agreement (Knight Transportation Inc)

Dividend Distributions. Declare or pay any dividend or distribution in excess of fifty percent (50%) of Borrower's net income in any fiscal year either in cash, stock or any other property on Borrower's stock now or hereafter outstanding, nor redeem, retire, repurchase in excess of $15,000,000.00 30,000,000.00 in any 12 month period effective as of the date of this Agreement, or otherwise acquire any shares of any class of Borrower's stock now or hereafter outstanding. 2.8 Exhibit "F" of the Credit Agreement is hereby amended to read as attached hereto.

Appears in 1 contract

Samples: Modification Agreement (Knight Transportation Inc)