Dividends and Stock Repurchases. The Borrower shall not declare or pay any dividend on its capital stock (except for dividends in the form of capital stock), or redeem or repurchase any of its capital stock, if a Default or Event of Default shall have occurred and be continuing or shall exist at such time or after giving effect to such transaction.
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Samples: Credit Agreement (Nevada Power Co), Credit Agreement (Sierra Pacific Power Co), Credit Agreement (Sierra Pacific Power Co)
Dividends and Stock Repurchases. The Borrower shall not declare or pay any dividend on its capital stock (except for (i) dividends in the form of capital stock; and (ii) dividends declared prior to the date of this Agreement), or redeem or repurchase any of its capital stock, stock if a Default or Event of Default shall have occurred and be continuing or shall exist at such time or after giving effect to such transaction.
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