Dividends or Investments. The Borrower shall not ------------------------
(a) Pay any dividend or make any other distributions of cash and/or property with respect to any class of the Borrower's capital stock, other than a common stock dividend of the Borrower's own capital stock.
(b) Own, redeem, retire, purchase, or acquire any of the Borrower's capital stock.
(c) Except as otherwise permitted pursuant to Section 5-18A, below:
(i) Invest in or purchase any stock or securities or rights to purchase any such stock or securities, of any corporation or other entity.
(ii) Merge or consolidate or be merged or consolidated with or into any other corporation or other entity.
(iii) Consolidate any of the Borrower's operations with those of any other corporation or other entity.
(iv) Organize or create any Related Entity. /May 14, 1997/ /8/
(d) Subordinate any debts or obligations owed to the Borrower by any third party to any other debts owed by such third party to any other Person.
Dividends or Investments. The Borrower shall not: ------------------------
(a) Pay any cash dividend or make any other distribution in respect of any class of the Borrower's capital stock.
(b) Own, redeem, retire, purchase or acquire any of the Borrower's capital stock.
(c) Invest in or purchase any stock or securities or rights to purchase any such stock or securities, of any corporation or other entity.
(d) Merge or consolidate or be merged or consolidated with or into any other corporation or other entity.
(e) Consolidate any of the Borrower's operations with those of any other corporation or other entity.
(f) Organize or create any Related Entity.
(g) Subordinate any debts or obligations owed to the Borrower by any third party to any other debts owed by such third party to any other Person.
Dividends or Investments. The Borrower shall not: (a) Pay any cash dividend or make any other distribution in respect of any class of the Borrower's capital stock.
Dividends or Investments. No Loan Party shall:
(a) Pay any dividend or make any other distribution (whether in cash, securities or other property) with respect to any class of its capital stock, or make any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any or its capital stock or any option, warrant or other right to acquire such capital stock except by a Guarantor to the Borrower or unless the Liquidity Requirements are satisfied.
Dividends or Investments. The Obligors shall not:
(a) Pay any cash dividend or make any other distribution in respect of any class of the Borrower's capital stock.
(b) Own, redeem, retire, purchase, or acquire any of the Borrower's capital stock involving the expenditure of cash after the date of this Agreement in the aggregate in excess of the difference between (i) $10,000,000.00 and (ii) the amount of cash expended by the Borrower after the date of this Agreement in connection with Permitted Acquisitions; provided that no such redemption, retirement, purchase or acquisition shall be undertaken after the occurrence and during the continuance of any Suspension Event and provided further that no such redemption, retirement, purchase or acquisition shall be undertaken in any twelve month period after the date of this Agreement involving the expenditure of cash during such twelve month period in excess of the difference between (i) $5,000,000.00 and (ii) the amount of cash expended by the Borrower during such twelve month period in connection with Permitted Acquisitions.
(c) Invest in or purchase any stock or securities or rights to purchase any such stock or securities, of any corporation or other entity, ther than (i) existing investments in the Joint Venture and future investments in the Joint Venture only if (A) the Borrower provides the Agent with at least twenty (20) days notice prior to making such additional investment, (B) the Agent in good faith (which shall be presumed) believes that the financial performance covenants set forth in EXHIBIT 5-13 hereto will not be breached as of the end of the quarter immediately following the making of such investment, (C) the Borrower provides the Agent with such information as the Agent may reasonably request in connection with the investment and with the Agent's determination pursuant to clause (B), above, and (D) no Suspension Event then exists or would arise therefrom (ii) Permitted Acquisitions, and (iii) other Eligible Investments provided that no Revolving Credit Loans are then outstanding and each such Eligible Investment is pledged to the Agent to secure the Liabilities).
(d) Except as permitted pursuant to Section hereof, merge or consolidate or be merged or consolidated with or into any other corporation or other entity.
(e) Except as permitted pursuant to Section hereof, consolidate any of the Borrower's operations with those of any other corporation or other entity.
(f) Organize or create any Related Entity, other than in con...
Dividends or Investments. No Borrower shall Dividends or Investments (a) Pay any cash dividend or make any other distribution in respect of any class of that Borrower's capital stock except for, and subject to such conditions as apply to, the making of Permitted Distributions.
Dividends or Investments. The Borrower shall not, without first obtaining the Lender's prior written consent:
(a) Pay any cash dividend or make any other distribution in respect of any class of the Borrower's capital stock, except that Borrower may pay dividends on its preferred stock in an aggregate amount not to exceed One Hundred Fifteen ($115,000.00) Dollars in any twelve (12) month period if such dividends are set forth in the Business Plan submitted to and approved by the Lender.
(b) Own, redeem, retire, purchase, or acquire any of the Borrower's capital stock, except that Borrower may own, redeem, retire, purchase or acquire such stock if the same is set forth in the Business Plan submitted to and approved by the Lender.
(c) Invest in or purchase any stock or securities or rights to purchase any such stock or securities, of any corporation or other entity.
(d) Merge or consolidate or be merged or consolidated with or into any other corporation or other entity.
(e) Consolidate any of the Borrower's operations with those of any other corporation or other entity.
(f) Organize or create any Related Entity.
(g) Subordinate any debts or obligations owed to the Borrower by any third party to any other debts owed by such third party to any other Person.
Dividends or Investments. The Borrower shall not:
Dividends or Investments. Without the prior written consent of the Lender, the Borrower shall not:
(a) Pay any cash dividend or make any other distribution in respect of any class of the Borrower's capital stock, other than the payment of dividends (as long as no Suspension Event then exists or would arise therefrom) in an amount not to exceed fifty percent (50%) of such net income (as determined in accordance with GAAP), provided that the Borrower will not pay any such dividends until fifteen (15) days after the date the Lender receives the financial statements required under Section 5-6 hereof.
(b) Own, redeem, retire, purchase, or acquire any of the Borrower's capital stock.
(c) Invest in or purchase any stock or securities or rights to purchase any such stock or securities, of any corporation or other entity.
(d) Merge or consolidate or be merged or consolidated with or into any other corporation or other entity, other than with a Related Entity and then only if the Borrower is the surviving corporation.
(e) Consolidate any of the Borrower's operations with those of any other corporation or other entity.
(f) Organize or create any Related Entity, unless (i) the Related Entity executes a guaranty of the Liabilities and grants the Lender a first perfected lien on its assets and (ii) the only assets owned by such Related Entity consist of Real Estate or Leases of real property in which the Related Entity is the lessee.
(g) Subordinate any debts or obligations owed to the Borrower by any third party to any other debts owed by such third party to any other Person.
Dividends or Investments. The Borrower shall not, without the Agent's prior written consent: (a) pay any dividend, other than a common stock dividend of the Borrower's own capital stock or preferred stock dividends in accordance with the terms of the Borrower's Articles of Organization, as amended to date;
