Common use of Dividends and share redemption Clause in Contracts

Dividends and share redemption. (a) Except as permitted under paragraph (b) below, Holdco shall not (and shall ensure that no Nigeria Group member will): (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), other than to Holdco or another Nigeria Obligor; (ii) repay or distribute any dividend or share premium reserve other than to Holdco or another Nigeria Obligor; (iii) pay or allow any member of the Nigeria Group to pay any management, advisory or other fee to or to the order of any direct or indirect shareholder of Holdco or its Affiliate (other than a Nigeria Obligor); (iv) make a loan or make any payment of interest or principal under any loan or make any other payment to any direct or indirect shareholder of Holdco or such shareholder’s Affiliate (other than a Nigeria Obligor); or (v) redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so. (b) Paragraph (a) above does not apply to a Permitted Payment.

Dividends and share redemption. (a) Except as permitted under paragraph (b) below, Holdco shall not (and shall ensure that no Nigeria Group member will): (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), other than to Holdco or another Nigeria Obligor; (ii) repay or distribute any dividend or share premium reserve other than to Holdco or another Nigeria Obligor; (iii) pay or allow any member of the Nigeria Group to pay any management, advisory or other fee to or to the order of any direct or indirect shareholder of Holdco or its Affiliate (other than a Nigeria an Obligor); (iv) make a loan or make any payment of interest or principal under any loan or make any other payment to any direct or indirect shareholder of Holdco or such shareholder’s Affiliate (other than a Nigeria an Obligor); oror ​ (v) redeem, repurchase, defease, retire or repay any of its share capital or resolve to do so. (b) Paragraph (a) above does not apply to a Permitted Payment.