Dividends and Capital Distributions Sample Clauses

Dividends and Capital Distributions. The Borrower is not to declare or pay any dividends or other distributions on its capital stock or ownership interests, nor effect any distribution, redemption or other acquisition of any of its capital stock or other ownership interests except (if the Borrower is an "S" Corporation for federal income tax purposes) distributions to shareholders during a given fiscal year in an amount no greater than such shareholders federal income tax expenditures arising from such shareholder status without the prior written consent of Lender.
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Dividends and Capital Distributions. Except as described on SCHEDULE 5.12 attached hereto, since the date of the balance sheet contained in the 1996 Consolidated Financial Statements, (a) Borrower has not declared or paid or otherwise agreed to pay any dividends on any shares of any class of its capital stock, (b) the Borrower has not made or agreed to make any payments on account of the purchase or other acquisition or redemption or other retirement of any shares of any class of its capital stock or any warrants
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Dividends and Capital Distributions. During a Default Period, the Borrower is not to declare or pay any cash dividends or other cash distributions on its capital stock or ownership interests, nor effect any distribution, redemption or other acquisition of any of its capital stock or other ownership interests.
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Dividends and Capital Distributions. Declare or pay cash dividends upon any of its outstanding ownership interests or distribute any of its property or redeem, retire, purchase or acquire directly or indirectly any of its outstanding ownership interests;
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Dividends and Capital Distributions. The Company will not, and will not cause or permit any of its Subsidiaries to, (a) declare or pay any dividends of any kind on any shares in its capital of any class, (b) make any payments on account of the purchase or other acquisition or redemption or retirement of any shares of its capital stock of any class or any warrants or options to purchase any such shares, or (c) make any other distributions of any kind in respect of any shares of its capital stock of any class or in respect of any such warrants or options; EXCLUDING, HOWEVER, from the operation of the foregoing provisions of this sec.8.11: (i) the declaration and payment of dividends on the Preferred Stock as set forth in and required by the Company's Certificate of Incorporation; (ii) the redemption of shares of Class A Preferred Stock as set forth in and required by the Company's Certificate of Incorporation; (iii) the issuance of shares of Common Stock upon conversion of the Class B Preferred Stock as set forth in the Company's Certificate of Incorporation; (iv) the repurchase of the Class B Preferred Stock owned by the Investor pursuant to Article XI hereof; (v) the declaration of ordinary cash dividends by any Subsidiary which is wholly owned by the Company, and the payment of such dividends to the Company or to another wholly-owned Subsidiary of the Company; and (vi) the repurchase of shares of the Company's Common Stock as permitted or required in the Shareholder Agreement or the Restricted Stock Agreements.
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Dividends and Capital Distributions. The Borrower is not to declare or pay any cash dividends except for those paid by Subsidiaries to their respective parent Borrower without the prior written consent of Lender.
Sample 1
Dividends and Capital Distributions. 6. Effective immediately, the Holding Company shall not declare or pay any cash dividends or other capital distributions or purchase, repurchase or redeem or commit to purchase, repurchase, or redeem any Holding Company equity stock without the prior written non- objection of the Regional Director. The Holding Company shall submit its written request for non-objection to the Regional Director at least forty-five (45) days prior to the anticipated date of the proposed dividend, capital distribution, or stock transaction. The written request for such notice of non-objection shall: (a) contain current and pro forma projections regarding the Holding Company’s capital, asset quality, and earnings; and (b) address compliance with the Capital Plan required by Paragraph 1 of this Agreement.
Sample 1
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Dividends and Capital Distributions. 6. Effective immediately, the Mid-Tier Holding Company shall not declare or pay any cash dividends or other capital distributions or purchase, repurchase or redeem or commit to purchase, repurchase, or redeem any Mid-Tier Holding Company equity stock without the prior written non-objection of the Regional Director. The Mid-Tier Holding Company shall submit its written request for non-objection to the Regional Director at least forty-five (45) days prior to the anticipated date of the proposed dividend, capital distribution, or stock transaction. The written request for such notice of non-objection shall: (a) contain current and pro forma projections regarding the Mid-Tier Holding Company’s capital, asset quality, and earnings; and (b) address compliance with the Capital Plan required by Paragraph 1 of this Agreement.
Sample 1
Dividends and Capital Distributions. 6. Effective immediately, the First-Tier Holding Company shall not declare or pay any cash dividends or other capital distributions or purchase, repurchase or redeem or commit to purchase, repurchase, or redeem any First-Tier Holding Company equity stock without the prior written non-objection of the Regional Director. The First-Tier Holding Company shall submit its written request for non-objection to the Regional Director at least forty-five (45) days prior to the anticipated date of the proposed dividend, capital distribution, or stock transaction. The written request for such notice of non-objection shall: (a) contain current and pro forma projections regarding the First-Tier Holding Company’s capital, asset quality, and earnings; and (b) address compliance with the Capital Plan required by Paragraph 1 of this Agreement.
Sample 1

Related to Dividends and Capital Distributions

  • Dividends and Distributions (A) Subject to the rights of the holders of any shares of any series of Preferred Stock (or any similar stock) ranking prior and superior to the Series A Preferred Stock with respect to dividends, the holders of shares of Series A Preferred Stock, in preference to the holders of Common Stock, par value $.01 per share (the "Common Stock"), of the Corporation, and of any other junior stock, shall be entitled to receive, when, as and if declared by the Board of Directors out of funds legally available for the purpose, quarterly dividends payable in cash on the first day of March, June, September and December in each year (each such date being referred to herein as a "Quarterly Dividend Payment Date"), commencing on the first Quarterly Dividend Payment Date after the first issuance of a share or fraction of a share of Series A Preferred Stock, in an amount per share (rounded to the nearest cent) equal to the greater of (a) $1 or (b) subject to the provision for adjustment hereinafter set forth, 100 times the aggregate per share amount of all cash dividends, and 100 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions, other than a dividend payable in shares of Common Stock or a subdivision of the outstanding shares of Common Stock (by reclassification or otherwise), declared on the Common Stock since the immediately preceding Quarterly Dividend Payment Date or, with respect to the first Quarterly Dividend Payment Date, since the first issuance of any share or fraction of a share of Series A Preferred Stock. In the event the Corporation shall at any time declare or pay any dividend on the Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock (by reclassification or otherwise than by payment of a dividend in shares of Common Stock) into a greater or lesser number of shares of Common Stock, then in each such case the amount to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (b) of the preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.

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