Dividend Reserve Clause Samples
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Dividend Reserve. Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends such sum or sums as the Board of Directors from time to time, in their absolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the Board of Directors shall think conducive to the interests of the corporation, and the Board of Directors may modify or abolish any such reserve in the manner in which it was created.
Dividend Reserve. 16 ARTICLE X Fiscal Year .............................................. 17 Section 40. Fiscal Year .................................. 17
Dividend Reserve. Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends such sum or sums as the Board of Directors from time to time, in their absolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the Board of Directors shall think conducive to the interests of the corporation, and the Board of Directors may modify or abolish any such reserve in the manner in which it was created. (Del. Code ▇▇▇., tit. 8, § 171)
Dividend Reserve. The Board of Directors may set apart out of any of the funds of the Corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.
Dividend Reserve. Before payment of any dividend, there may be set aside out of any fundsof the Corporation available for dividends such sum or sums as the Board of Directors from time to time, in theirabsolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends, orfor repairing or maintaining any property of the Corporation, or for such other purpose as the Board of Directorsshall think conducive to the interests of the Corporation, and the Board of Directors may modify or abolish anysuch reserve in the manner in which it was created.ARTICLEX FISCAL YEARSection 42. Fiscal Year. The fiscal year of the Corporation shall be fixed by resolution of the Board ofDirectors.ARTICLE XI INDEMNIFICATIONSection 43.