Events of Deferral. The Company (and its designee) shall not be obligated to purchase any shares of Company Stock, at any time pursuant to this Article VII, regardless of whether it has in the case of Section 7.1 hereof delivered a notice of its election to purchase any such shares, (x) to the extent that the purchase of such shares would give rise to or result in a Violation or (y) if immediately prior to the time of purchase there exists, or if immediately after giving effect to such purchase there would exist, a Financing Default.
Events of Deferral. The Company (and its designee) shall not be obligated to purchase or cause to be purchased any shares of Company Stock, at any time pursuant to this Article VI, regardless of whether it has delivered a notice of its election to purchase any such shares of Company Stock pursuant to Section 6.1, (x) to the extent that the purchase of such shares of Company Stock would give rise to or result in a Violation, (y) if immediately prior to the time of purchase there exists, or if immediately after giving effect to such purchase there would exist, a Financing Default or (z) if the Board of Directors determines in its good faith judgment that such purchase would not be prudent in light of the financial condition or prospects of the Company (a “Financial Condition Rationale”).
Events of Deferral. The Company (and its designee) shall not be obligated to purchase any shares of Company Stock, at any time pursuant to this Article VII, regardless of whether it has in the case of Section 7.1 hereof delivered a notice of its election to purchase any such shares, (x) to the extent that the purchase of such shares would give rise to or result in a Violation or (y) to the extent of any purchase in excess of the Life Insurance Proceeds, if immediately prior to the time of purchase there exists, or if immediately after giving effect to such purchase there would exist, a Financing Default.
Events of Deferral. The Company (and its designee) shall not be obligated to purchase or cause to be purchased any Units, at any time pursuant to this Article XI, regardless of whether it has in the case of Section 11.1 delivered a notice of its election to purchase any such Units, (x) to the extent that the purchase of such Units would give rise to or result in a Violation or (y) if immediately prior to the time of purchase there exists, or if immediately after giving effect to such purchase there would exist, a Financing Default.
