Dividends and share redemption. 23.15.1 Except as permitted under Clause 23.15.2, the Borrower shall not without the prior written consent of the Agent (acting on the instructions of the Majority Lenders): (a) declare, make or pay any dividend, charge, fee or other distribution (or interest on any unpaid dividend, charge, fee or other distribution) (whether in cash or in kind) on or in respect of its share capital (or any class of its share capital); (b) repay or distribute any dividend or share premium reserve; (c) pay any management, advisory or other fee to or to the order of any of the shareholders of the Borrower; (d) issue any further share capital; or (e) redeem, repurchase, defease, retire, cancel or repay any of its share capital or resolve to do so. 23.15.2 Clause 23.15.1 above does not apply to payments made using moneys withdrawn from the Dividend Distribution Account.
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement, Facility Agreement (Hoegh LNG Partners LP)
