Dividends, Distributions, Etc. From the date hereof until the Closing Date, the Company shall not declare or pay dividends or distribute Common Shares, its evidences of indebtedness or its other assets or property (including cash, rights, options or warrants to acquire Common Shares or other securities) to any of its shareholders, publicly announce or consummate any “spin-off” transaction, or take any similar action. Notwithstanding the foregoing sentence, the Company is permitted to distribute Common Shares from the date hereof until the Closing Date if such distribution is an issuance described in clause (a) of the definition of Exempt Issuance herein.
Appears in 3 contracts
Samples: Subscription Agreement (Response Biomedical Corp), Subscription Agreement (Response Biomedical Corp), Subscription Agreement (Response Biomedical Corp)
Dividends, Distributions, Etc. From the date hereof until the Closing DateMarch 31, 2012, the Company shall not declare or pay dividends or distribute Common Shares, its evidences of indebtedness or its other assets or property (including cash, rights, options or warrants to acquire Common Shares or other securities) to any of its shareholders, publicly announce or consummate any “spin-off” transaction, or take any similar action. Notwithstanding the foregoing sentence, the Company is permitted to distribute Common Shares from the date hereof until the Closing Date March 31, 2012 if such distribution is an issuance described in clause (a) or (f) of the definition of Exempt Issuance herein.
Appears in 2 contracts
Samples: Note Purchase Agreement (Response Biomedical Corp), Note Purchase Agreement (Response Biomedical Corp)