Common use of Dividends, Redemptions and Other Payments Clause in Contracts

Dividends, Redemptions and Other Payments. If (a) any Default or Event of Default shall exist under Sections 8.01, 8.02 or 8.03 hereof or a Default or Event of Default under any such section would be created by the declaration or payment of cash dividends or any other payment or distribution of cash on account of its capital stock or the purchase, redemption or other retirement of its capital stock, or (b) an Event of Default has occurred and is continuing, declare or pay any cash dividends or make any other payment or distribution of cash on any shares of stock of any class of the Borrower, now or hereafter outstanding, or purchase, redeem or otherwise retire any such shares in consideration of cash or apply or set apart any of their assets therefor or make any other distribution (by redemption of capital or otherwise) in respect of any such shares in consideration of cash, or agree to do any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Gtech Holdings Corp)

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Dividends, Redemptions and Other Payments. If (a) any Default or Event of Default shall exist under Sections 8.01, 8.02 9.1(a) or 8.03 (b) hereof or a Default or Event of Default under any such section would be created by the declaration or payment of cash dividends or any other payment or distribution of cash on account of its capital stock or the purchase, redemption or other retirement of its capital stock, or (b) an Event of Default has occurred and is continuing, declare or pay any cash dividends or make any other payment or distribution of cash on any shares of stock of any class of the Borrower, now or hereafter outstanding, or purchase, redeem or otherwise retire any such shares in consideration of cash or apply or set apart any of their assets therefor or make any other distribution (by redemption of capital or otherwise) in respect of any such shares in consideration of cash, or agree to do any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Gtech Holdings Corp)

Dividends, Redemptions and Other Payments. If (a) any Default or Event of Default shall exist under Sections 8.019.1 (a), 8.02 (b) or 8.03 (c) hereof or a Default or Event of Default under any such section would be created by the declaration or payment of cash dividends or any other payment or distribution of cash on account of its capital stock or the purchase, redemption or other retirement of its capital stock, or (b) an Event of Default has occurred and is continuing, declare or pay any cash dividends or make any other payment or distribution of cash on any shares of stock of any class of the Borrower, now or hereafter outstanding, or purchase, redeem or otherwise retire any such shares in consideration of cash or apply or set apart any of their assets therefor or make any other distribution (by redemption of capital or otherwise) in respect of any such shares in consideration of cash, or agree to do any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Gtech Holdings Corp)

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Dividends, Redemptions and Other Payments. If (ai) any Default or Event of Default shall exist under Sections 8.01clauses (i), 8.02 or 8.03 (ii), (iii) of Section 5.2(a) hereof or a Default or Event of Default under any such section would be created by the declaration or payment of cash dividends or any other payment or distribution of cash on account of its capital stock or the purchase, redemption or other retirement of its capital stock, or (bii) an Event of Default has occurred and is continuing, declare or pay any cash dividends or make any other payment or distribution of cash on any shares of stock of any class of the BorrowerLessee, now or hereafter outstanding, or purchase, redeem or otherwise retire any such shares in consideration of cash or apply or set apart any of their assets therefor or make any other distribution (by redemption of capital or otherwise) in respect of any such shares in consideration of cash, or agree to do any of the foregoing.

Appears in 1 contract

Samples: Participation Agreement (Gtech Holdings Corp)

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