Common use of Dividends; Redemptions Clause in Contracts

Dividends; Redemptions. Neither Obligor shall (i) declare, pay or make any dividend or Distribution on any shares of capital stock or other securities or interests other than dividends or Distributions payable in its stock, of split-ups or reclassifications of its stock, (ii) apply any of its funds, property or assets to the acquisition, redemption or other retirement of any capital stock or other securities or interests or of any options to purchase or acquire any of the foregoing (provided, however, that either Obligor may (1) redeem its capital stock from terminated employees pursuant to, but only to the extent required under the terms of the related employment agreements, and (2) pay or prepay certain Permitted Indebtedness if allowed to do so under the terms and conditions of the Master Subordination Agreement, as long as no Default or Event of Default has occurred and is continuing or would be cause by or result therefrom), (iii) otherwise make any payments or Distributions to any stockholder, member, partner or other equity owner in such Person's capacity as such, or (iv) make any payment of any management or service fee except as permitted in writing by Lender in advance, and provided further, that Borrower shall not make or suffer to exist any such payment described in (i) through (iv) above if a Default or Event of Default has occurred and is continuing or would result therefrom.

Dividends; Redemptions. Neither Obligor shall (i) declare, pay or make any dividend or Distribution on any shares of capital stock or other securities or interests other than dividends or Distributions payable in its stock, of split-ups or reclassifications of its stockstock , (ii) apply any of its funds, property or assets to the acquisition, redemption or other retirement of any capital stock or other securities or interests or of any options to purchase or acquire any of the foregoing (provided, however, that either Obligor may (1) redeem its capital stock from terminated employees pursuant to, but only to the extent required under the terms of the related employment agreements, and (2) pay or prepay certain Permitted Indebtedness if allowed to do so under the terms and conditions of the Master Subordination AgreementAgreements, as long as no Default or Event of Default has occurred and is continuing or would be cause by or result therefrom), (iii) otherwise make any payments or Distributions to any stockholder, member, partner or other equity owner in such Person's ’s capacity as such, or (iv) make any payment of any management or service fee except as permitted in writing by Lender Debenture Holder in advance, and provided further, that Borrower neither Obligor shall not make or suffer to exist any such payment described in (i) through (iv) above if a Default or Event of Default has occurred and is continuing or would result therefrom.

Dividends; Redemptions. Neither Obligor Purchaser shall not (i) declare, pay or make any dividend or Distribution on any shares of capital stock or other securities or interests other than dividends or Distributions payable in its stock, of split-ups or reclassifications of its stockstock , (ii) apply any of its funds, property or assets to the acquisition, redemption or other retirement of any capital stock or other securities or interests or of any options to purchase or acquire any of the foregoing (provided, however, that either Obligor Purchaser may (1) redeem its capital stock from terminated employees pursuant to, but only to the extent required under the terms of the related employment agreements, and (2) pay or prepay certain Permitted Indebtedness if allowed to do so under the terms and conditions of the Master Subordination AgreementAgreements, as long as no Default or Event of Default has occurred and is continuing or would be cause by or result therefrom), (iii) otherwise make any payments or Distributions to any stockholder, member, partner or other equity owner in such Person's ’s capacity as such, or (iv) make any payment of any management or service fee except as permitted in writing by Lender Seller in advance, and provided further, that Borrower Purchaser shall not make or suffer to exist any such payment described in (i) through (iv) above if a Default or Event of Default has occurred and is continuing or would result therefrom.

Dividends; Redemptions. Neither Obligor Borrower shall not (i) declare, pay or make any dividend or Distribution distribution on any shares of capital stock or other securities or interests (other than dividends or Distributions distributions payable in its stock, of or split-ups or reclassifications of its stock), (ii) apply any of its funds, property or assets to the acquisition, redemption or other retirement of any capital stock or other securities or interests or of any options to purchase or acquire any of the foregoing (provided, however, that either Obligor Borrower may (1) redeem its capital stock from terminated employees pursuant to, but only to the extent required under under, the terms of the related employment agreements, and (2) pay or prepay certain Permitted Indebtedness if allowed to do so under the terms and conditions of the Master Subordination Agreement, agreements as long as no Default or Event of Default has occurred and is continuing or would be cause caused by or result therefrom), (iii) otherwise make any payments or Distributions to any stockholder, member, partner or other equity owner in such Person's ’s capacity as such, or (iv) make any payment of any management management, service or service related or similar fee except as permitted in writing to any Person or with respect to any facility owned, operated or leased by Lender in advanceBorrower; provided, and provided furtherhowever, that Borrower shall not make or suffer to exist any such payment described in (i) through (iv) above if a Default or for so long as no Event of Default has occurred and is continuing exists or would result therefromexist after giving effect thereto, Borrower may pay dividends in respect of (y) the FGC Preferred Stock in an aggregate amount not to exceed $64,000 in any fiscal quarter and (z) the Series C Preferred Stock if, after giving effect to the payment of any such dividend and any mandatory payments of Excess Cash Flow under Section 2.11(c), Borrower shall have a Fixed Charge Coverage Ratio of not less than1.25 to 1.0.