Dividend Payout Ratio. (a) Permit the Dividend Payout Ratio, at any time, to exceed ninety-five percent (95%); and
(b) Permit CCPT III, at any time an Event of Default exists, to make or declare any dividends or similar distributions without the written consent of the Administrative Agent and Required Lenders. Notwithstanding anything in this Section 7.06 to the contrary, CCPT III shall be permitted at all times to distribute the minimum amount of dividends necessary for CCPT III to maintain its tax status as a real estate investment trust.
Dividend Payout Ratio. The Dividend Payout Ratio of CCPT IV shall not, in any event, exceed ninety-five percent (95%).
Dividend Payout Ratio. Permit the Dividend Payout Ratio, at any time, to exceed ninety-five percent (95%); and
Dividend Payout Ratio. In connection with its approval of the transactions contemplated by the Transaction Agreement and related matters, the Board of Directors of BlackRock has adopted a dividend policy establishing a 40% targeted payout ratio, with all subsequent quarterly dividend declarations under such policy remaining subject to the relevant board's fiduciary discretion. In the resolutions adopting such policy, the Board of BlackRock has committed not to revise the dividend payout ratio downward, except in furtherance of the Board of Directors' fiduciary duties or other prudential financial considerations.
Dividend Payout Ratio. Permit the Dividend Payout Ratio of the Borrower to, at any time, exceed 95%. Notwithstanding the foregoing, but subject to the final sentence of this Section 7.06, the Borrower shall not, during the continuation of any Event of Default under the Loan Documents, permit CCPT II to make or declare any dividends or similar distributions without the written consent of the Administrative Agent and Required Lenders. Notwithstanding the foregoing, CCPT II shall be permitted at all times to distribute the minimum amount of dividends necessary for CCPT II to maintain its tax status as a real estate investment trust.
Dividend Payout Ratio. The Dividend Payout Ratio of Guarantor shall not, in any event, exceed ninety-five percent (95%).
Dividend Payout Ratio. (a) Permit the Dividend Payout Ratio, at any time, to exceed ninety-five percent (95%); and
(b) Permit CREIS, at any time an Event of Default exists, to make or declare any dividends or similar distributions without the written consent of the Administrative Agent and Required Lenders. Notwithstanding anything in this Section 7.06 to the contrary, CREIS shall be permitted at all times to distribute the minimum amount of dividends necessary for CREIS to maintain its tax status as a real estate investment trust.
Dividend Payout Ratio. In connection with its approval of the transactions contemplated by the Transaction Agreement and related matters, the Board of Directors of each of BlackRock and New BlackRock have adopted a dividend policy establishing a 40% targeted payout ratio, with all subsequent quarterly dividend declarations under such policy remaining subject to the relevant board's fiduciary discretion. In the resolutions adopting such policy, the Boards of BlackRock and New BlackRock have committed not to revise the dividend payout ratio downward, except in furtherance of the BlackRock and New BlackRock Boards of Directors' fiduciary duties or other prudential financial considerations.
Dividend Payout Ratio. Not permit the Dividend Payout Ratio to exceed ninety percent (90%). The Dividend Payout Ratio covenant shall be tested by the Administrative Agent as of each Calculation Date, such calculation and results to be verified by the Administrative Agent.
Dividend Payout Ratio. Section 7.06 of the Credit Agreement is hereby amended and restated in its entirety as follows:
