Dividend Restriction. Payment of any dividends on the Restricted Shares is contingent upon meeting the performance and service requirements contained in this Agreement, and such dividends shall be retained by the Company and not paid to Employee until the Lapse Date, and then only in respect to shares which have not been forfeited.
Dividend Restriction. None of the Company or any of its Subsidiaries shall make any payments of Cash dividends or other Cash distributions to its equity holders without the prior written consent of the Administrative Agent, other than Cash dividends or Cash distributions made by any direct or indirect wholly-owned Subsidiary of the Company to its parent company; provided, however, that the Company may make distributions or payments of dividends no more frequently than once per Fiscal Quarter, so long as, after giving effect to such dividend or distribution, the Company and the Borrower shall not be in violation of Section 5.11(a) above; provided, further, that notwithstanding the foregoing, the Company may make distributions in an amount not to exceed the amount necessary to permit its equity holders to pay federal and state income taxes, then due and owing, attributable to the income of the Borrower so long as no Default or Event of Default shall exist (after giving effect to such distributions).
Dividend Restriction. The Proponent will not make any dividend payments or other shareholder distributions that would prevent it from implementing the Project and other Proponent’s obligations under the Agreement including the making of payments to the Minister as required under the Agreement.
Dividend Restriction. (a) Until the sixth (6th) anniversary of the date of the Judicial Ratification of the RJ Plan, neither the Borrower nor Oi shall (and shall procure that no Obligor shall) declare or pay any dividend, return on capital, or make any other payment or distribution on (or related to) the shares issued by themselves (including any payment related to merger or consolidation involving any Obligor) other than:
(i) dividends, return on capital or other distributions exclusively in relation to one Obligor which is payable to another Obligor;
(ii) payments by any Obligor to dissident shareholders according to the applicable legislation enacted after the date of the Judicial Ratification of the RJ Plan; or
(iii) any payment of dividends carried out in accordance with the RJ Plan.
(b) After the sixth (6th) anniversary of the date of the Judicial Ratification of the RJ Plan, as applicable, the Obligors shall be authorized to declare or pay any dividend, return on capital or make any other payment or distribution on (or related to) the shares issued thereby (including any payment in relation to any type of consolidation or merger involving the Obligors) only if the ratio of the Consolidated Net Debt of Oi / EBITDA of the fiscal year ended immediately before the declaration or payment is equal or lower than two (2).
(c) After the Capital Increase with Capitalization of Credit and the New Money Capital Increase, the payment of dividends, return on capital or any other payment or distribution on (or related to) the shares issued thereby (including any payment related to merger or consolidation involving any Obligor) shall be authorized if the ratio of Consolidated Net Financial Debt of Oi / EBITDA of the fiscal year ended immediately before the declaration or payment is equal or lower than two (2) – for the avoidance of doubt there shall be no restriction to the distribution of dividends after the full payment of the Financial Credits. The declaration of, or the following payments, are excluded from the restrictions described in paragraph (b) above:
(i) dividends, return on capital or other distributions exclusively in relation to one Obligor which is payable to another Obligor;
(ii) payments by any Obligor to dissident shareholders according to the applicable legislation enacted after the date of the Judicial Ratification of the RJ Plan; or
(iii) any payment of dividends carried out in accordance with the RJ Plan or determined by applicable legislation, including any mandat...
Dividend Restriction. The Company shall not declare or pay any dividends (other than scrip or non cash dividends by way of a distribution of equity interests of the Company) where:
(a) an Event of Default has occurred and is continuing;
(b) the aggregate amount of such dividends would exceed 50 per cent. of the net aggregate profits of the Group (after adjusting for the tax effect of Special Items); or
(c) the ratio of Net Debt to EBITDA as referred to in paragraph (b) of Clause 20.1 (Financial covenants) calculated on a pro-forma basis specified in the latest Compliance Certificate supplied pursuant to Clause 19.2 (Compliance Certificate) exceeds 4 to 1.
Dividend Restriction. The Adviser covenants and agrees that, so long as this Agreement is in effect, the Adviser, unless the Adviser receives written consent of the Investment Company allowing actions or omissions to the contrary, will not pay or decree any dividend on its stock or make any other distribution on account of its stock or redeem, purchase or otherwise acquire, directly or indirectly, any share of its stock, or otherwise make any distribution or other disposition of any of its assets whether in the ordinary course of business or otherwise, if after and giving effect to such action the sum of the tangible net worth (being the excess of total assets over total liabilities, excluding from total assets all assets classified as intangible assets under generally accepted accounting principles) of the Adviser plus the tangible net worth of Xxxxxx Asset Management, Inc., which has guaranteed the obligations of the Adviser hereunder, would be less than the greater of (i) $1,500,000 or (ii) 10% of the net assets of the Investment Company as of the last day of the most recently ended fiscal quarter of the Investment Company but not more than $2,700,000.
Dividend Restriction. Whenever Warrant B is required to be purchased by the Company pursuant to this Agreement, if the Company shall not be able lawfully to purchase the entire Warrant on the closing date under the provisions of applicable state corporate law dealing with impairment of surplus, the Company shall purchase on the closing date so much of Warrant B as it may lawfully purchase. In the event the Company purchases less than all of Warrant B on the closing date, then the Company shall not, without the written consent of the Warrant B Selling Holder, pay dividends, distributions or other payments to any stockholder or make any loans to stockholders, other than reasonable salary and benefits payments, until the remainder of Warrant B is purchased in accordance with the terms of this Agreement.
Dividend Restriction. Payment of any dividends on the Restricted Shares is contingent upon meeting the performance requirements contained in this Agreement, and such dividends shall be retained by FBL and not paid to Employee until such date as the Management Development and Compensation Committee declares to what extent the performance terms have been satisfied, and then only in respect to shares which have not been forfeited.
Dividend Restriction. The Transferor shall not pay, declare or -------------------- make any dividends or distributions in respect of its common stock unless, after giving effect thereto: (i) the Transferor would not become insolvent, (ii) there would not have been a material adverse effect on the Transferor or its financial condition or (iii) the payment, declaration or making of any such dividends or distributions would not cause a Termination Event.
Dividend Restriction. As of the effective date of this ORDER, the Bank shall not declare or pay any cash dividend without the prior written consent of the Regional Director and the Commissioner.
