Common use of Dividends and share redemption Clause in Contracts

Dividends and share redemption. (a) The Borrower shall ensure that each other Group Member declares the legally permissible amount of dividends and/or distributions in each financial year to enable the Borrower to repay or prepay the Facility in accordance with Clause 8 (Mandatory Prepayment). (b) Except as prescribed under paragraph (a) above, the Borrower shall not: (i) 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); (ii) repay or distribute any dividend or share premium reserve; (iii) pay or allow any Group Member to pay any management, advisory or other fee to or to the order of the Sponsor; or (iv) redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so.

Dividends and share redemption. (a) The Borrower shall ensure that each other Group Member declares the legally permissible amount of dividends and/or distributions in each financial year to enable the Borrower to repay or prepay the Facility in accordance with Clause 8 (Mandatory Prepayment). (b) Except as prescribed under paragraph (a) above, the Borrower shall not: (i) 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); (ii) repay or distribute any dividend or share premium reserve; (iii) pay or allow any Group Member to pay any management, advisory or other fee to or to the order of any of the SponsorSponsors; or (iv) redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so.

Dividends and share redemption. (a) The Borrower shall ensure that each other Group Member declares the legally permissible amount of dividends and/or distributions in each financial year to enable the Borrower to repay or prepay the Facility in accordance with Clause 8 (Mandatory Prepaymentprepayment and compensation payment). (b) Except as prescribed under paragraph (a) above, the Borrower shall not: (i) 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); (ii) repay or distribute any dividend or share premium reserve; (iii) pay or allow any Group Member to pay any management, advisory or other fee to or to the order of any of the SponsorSponsors; or (iv) redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so.

Dividends and share redemption. (a) The Borrower shall ensure that each other Group Member declares the legally permissible amount of dividends and/or distributions in each financial year to enable the Borrower to repay or prepay the Facility in accordance with Clause 8 6 (Mandatory PrepaymentRepayment). (b) Except as prescribed under paragraph (a) above, the Borrower shall not: (i) 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); (ii) repay or distribute any dividend or share premium reserve; (iii) pay or allow any Group Member to pay any management, advisory or other fee to or to the order of the SponsorHoldco; or (iv) redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so.