Common use of Dividends and Buybacks Clause in Contracts

Dividends and Buybacks. ‌ (a) Until the date that is twelve (12) months after the date on which the Loans are no longer outstanding, neither any Borrower Eligible Business nor any of its Affiliates (other than an Affiliate that is a natural person) shall, in any transaction, purchase an equity security of any Borrower Eligible Business or of any direct or indirect parent company of a Borrower Eligible Business or of any Subsidiary of the Parent that, in each case, is listed on a national securities exchange, except to the extent required under a contractual obligation in effect as of the date of enactment of the CARES Act. (b) Until the date that is twelve (12) months after the date on which the Loans are no longer outstanding, no Borrower Eligible Business shall pay dividends, or make any other capital distributions, with respect to the common stock of any Borrower Eligible Business, except that an S corporation or other tax pass-through entity that is a Borrower Eligible Business may make distributions to the extent reasonably required to cover its owners’ tax obligations in respect of the Borrower Eligible Business’s earnings.

Dividends and Buybacks. ‌ (a) Until the date that is twelve (12) months after the date on which the Loans are no longer outstanding, neither any Borrower Eligible Business nor any of its Affiliates (other than an Affiliate that is a natural person) shall, in any transaction, purchase an equity security of any Borrower Eligible Business or of any direct or indirect parent company of a Borrower Eligible Business or of any Subsidiary of the Parent that, in each case, is listed on a national securities exchange, except to the extent required under a contractual obligation in effect as of the date of enactment of the CARES Act. (b) Until the date that is twelve (12) months after the date on which the Loans are no longer outstanding, no Borrower Eligible Business shall pay dividends, or make any other capital distributions, with respect to the common stock of any Borrower Eligible Business, except that an S corporation or other tax pass-through entity that is a Borrower Eligible Business may make distributions to the extent reasonably required to cover its owners’ tax obligations in respect of the Borrower Eligible Business’s earnings.

Dividends and Buybacks. ‌ (a) a. Until the date that is twelve (12) months after the date on which the Loans are Loan is no longer outstanding, neither any Borrower Eligible Business nor any of its Affiliates (other than an Affiliate that is a natural person) shall, in any transaction, purchase an equity security of any Borrower Eligible Business or of any direct or indirect parent company of a Borrower Eligible Business or of any Subsidiary of the Parent that, in each case, is listed on a national securities exchange, except to the extent required under a contractual obligation in effect as of the date of enactment of the CARES Act. (b) b. Until the date that is twelve (12) months after the date on which the Loans are Loan is no longer outstanding, no Borrower Eligible Business shall pay dividends, or make any other capital distributions, with respect to the common stock of any Borrower Eligible Business, except that an S corporation or other tax pass-through entity that is a Borrower Eligible Business may make distributions to the extent reasonably required to cover its owners’ tax obligations in respect of the Borrower Eligible Business’s earnings.

Dividends and Buybacks. ‌ (a) Until the date that is twelve (12) months after the date on which the Loans are no longer outstanding, neither any Borrower Eligible Business nor any of its Affiliates (other than an Affiliate that is a natural person) shall, in any transaction, purchase an equity security of any Borrower Eligible Business or of any direct or indirect parent company of a Borrower Eligible Business or of any Subsidiary of the Parent that, in each case, is listed on a national securities exchange, except to the extent required under a contractual obligation in effect as of the date of enactment of the CARES Act. (b) Until the date that is twelve (12) months after the date on which the Loans are no longer outstanding, no Borrower Eligible Business shall pay dividends, or make any other capital distributions, with respect to the common stock of any Borrower Eligible BusinessBusiness , except that an S corporation or other tax pass-through entity that is a Borrower Eligible Business may make distributions to the extent reasonably required to cover its owners’ tax obligations in respect of the Borrower Eligible Business’s earnings.