Limitation on Dividends and Other Payments. The Issuer will not create or otherwise suffer to exist any consensual limitation or restriction of any kind on the ability of the Issuer to declare or pay dividends or make any other distributions permitted by Applicable Law, other than pursuant to the Operative Agreements.
Limitation on Dividends and Other Payments. If (i) there shall have occurred any event that constitutes an Event of Default or (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee, then (a) the Company shall not declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or make a liquidation payment with respect to, any of its capital stock, (b) the Company shall not make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Notes, and (c) the Company shall not make any guarantee payments (other than pursuant to the Preferred Securities Guarantee) with respect to the foregoing. If the Company shall have given notice of its election to defer payments of interest on the Notes by extending the interest payment period as provided in Article IV and such period, or any extension thereof, shall be continuing, then (i) the Company shall not declare or pay any dividend, or make any distributions with respect to, or redeem, purchase or make a liquidation payment with respect to, any of its capital stock, (ii) the Company shall not make any payment of interest, principal, premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Notes, and (iii) the Company shall not make any guarantee payments (other than pursuant to the Preferred Securities Guarantee) with respect to the foregoing. Notwithstanding the foregoing restrictions, nothing in this Section 10.1 shall prevent the Company, in any event, from making dividend, redemption, liquidation or guarantee payments on capital stock, or interest, principal, redemption or guarantee payments on debt securities issued by the Company ranking pari passu with or junior to the Notes, where the payment is made by way of securities (including capital stock) that rank junior to the securities on which such payment is being made.
Limitation on Dividends and Other Payments. 21 Section 10.2. Covenants as to the Trust.................... 21
Limitation on Dividends and Other Payments. The Company will not declare or pay any of the following (each, a "Restricted Payment"): (i) any dividend or other distribution of property or assets other than a dividend payable solely in shares of capital stock of the Company or (ii) any repurchase by the Company of its capital stock other than from an employee of the Company or a Subsidiary in connection with the termination of his employment. Notwithstanding the foregoing, the Company may declare or pay a Restricted Payment, if such Restricted Payment, when aggregated with all other Restricted Payments made by the Company after September 30, 1996, is less than the sum of (A) $3,000,000 ; (B) fifty percent (50%) of the cumulative consolidated net income of the Company and its Subsidiaries, computed in accordance with generally accepted accounting principles, for the period commencing on January 1, 1996 and ending on the date on which the Restricted Payment is made (treated as one accounting period); and (C) the cumulative cash and non-cash proceeds to the Company of all public or private offerings of its capital stock during the period between October 1, 1996 and the date on which the Restricted Payment is made; provided that, notwithstanding the foregoing, the Company shall make no Restricted Payment if the making of the Restricted Payment would cause the Company not to be in compliance with the terms, conditions and provisions of this Indenture or any Senior Indebtedness on the date on which such Restricted Payment is made.
Limitation on Dividends and Other Payments. Declare or pay any dividend on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any shares of any class of capital stock of the Company, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of the Company (any of the foregoing, a "restricted payment"), unless (i) at the date such restricted payment is made, the Company shall have made all payments in respect of its repurchase obligations pursuant to this Agreement outstanding at such date and (ii) such restricted payment is made no more frequently than on a monthly basis and is effected in accordance with all organizational and legal formalities applicable to the Company; PROVIDED, HOWEVER, that (A) no 53 restricted payment shall be made on any date if (x) a Potential Early Amortization Event of a type referred to in clause (a)(ii) or (a)(iii) of Section 7.1 or (y) an Early Amortization Event has occurred and is continuing (or would occur as a result of such payment) on such date and (B) all restricted payments made on any date shall be payable by the Company solely from funds available to the Company which are not otherwise needed on such date to be applied to the payment of any amounts by the Company pursuant to any Pooling and Servicing Agreement.
Limitation on Dividends and Other Payments. In the event that (i) an Event of Default shall have occurred and be continuing, (ii) the Guarantor shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee, or (iii) the Company shall have given notice of its election to defer payments of interest on Debentures pursuant to Section 2.3(c) and any Extended Interest Payment Period shall be continuing, then, in each case, the Company shall not--
Limitation on Dividends and Other Payments. Declare or pay any dividend on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any shares of any class of capital stock of the Company, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of the Company (any of the foregoing, a "restricted payment"), or make, directly or indirectly, payments in any form in respect of the Seller Notes unless (i) at the date such restricted payment or payment in respect of the Seller Notes is made, the Company shall have made all payments in respect of its repurchase obligations pursuant to this Agreement outstanding at such date, (ii) at the date any restricted payment is made, the outstanding principal amount of the Seller Notes shall be zero, and (iii) any such restricted payment is made in accordance with all corporate and legal formalities applicable to the Company; provided, however, that (A) no restricted payment shall be made on any date if (x) a Potential Early Amortization Event of a type referred to in clause (a)(ii) or (iii) of Section 7.1 or (y) an Early Amortization Event has occurred and is continuing (or would occur as a result of such payment) on such date, (B) no payment in respect of the Seller Notes shall be made in contravention of the subordination provisions contained therein and (C) all restricted payments, and payments in respect of the Seller Notes, made on any date shall be payable by the Company solely from funds available to the Company in accordance with the terms of any Pooling and Servicing Agreement.
Limitation on Dividends and Other Payments. Declare or pay any dividend (other than dividends payable solely in common stock of the Borrower) on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any shares of any class of Capital Stock of the Borrower, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of the Borrower or any Subsidiary except for, so long as after giving effect thereto no Default or Event of Default shall have occurred and be continuing, (i) common stock repurchases made in connection with employee stock ownership plans or other employee stock incentive plans, (ii) the purchase by the Borrower of the Borrower's Capital Stock from the estate of any shareholder, provided that the purchase price thereof is paid entirely with the proceeds received by the Borrower from life insurance maintained by it on the life of such shareholder, (iii) dividends on the Borrower's Capital Stock, and (iv) the redemption, in whole or in part, of the Borrower's Class B Redeemable Preferred Stock outstanding on the Restatement Effective Date, provided that the aggregate amount expended by the Borrower in connection with the dividends and payments described in clauses (i) through (iv) above shall not exceed $10,000,000 in any twelve-month period.
Limitation on Dividends and Other Payments. (i) The Borrower will not declare or pay any dividend on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any shares of any class of Equity Interests of the Borrower, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of the Borrower or any Subsidiary (collectively, the foregoing are referred to as "Dividends and Other Payments"), except only if each of the following conditions is met (and the Borrower shall have certified in writing to the Administrative Agent that such conditions are met and supplied to the Administrative Agent evidence to back-up such conclusions as is satisfactory to the Administrative Agent.): (w) after giving effect thereto no Default or Event of Default shall have occurred and be continuing or would result upon giving effect to such Dividends and Other Payments, (x) the outstanding principal of Term Loan Advances is reduced to an amount not greater than the amount that would have been outstanding had Term Loan Repayment Amounts set forth in Section 2.06(a) of the Original Credit Agreement been paid as set forth in such Section 2.06(a) of the Original Credit Agreement, (y) the Borrower is in compliance with all covenants under Article V of the Original Credit Agreement (including but not limited to financial covenants in Section 5.04 of the Original Credit Agreement but with the covenant of Minimum Liquidity adjusted as set forth in the Credit Agreement Amendment), and (z) no breach in any covenant set forth in Section 5.04 exists or would result upon giving effect to such Dividends and Other Payments;
(ii) The Borrower will not, and will not permit any of its Subsidiaries to, repurchase its convertible bonds unless through exchange offerings (i.e. without any cash outflow from, or incurrence of debt by, the Borrower or any of its Subsidiaries);
(iii) The Borrower will not, and will not permit any of its Subsidiaries to, make any cash share buybacks.
Limitation on Dividends and Other Payments. Section 10.2. Covenants as to the Trust . . . . . . . . . . . . . . . . . 20 ARTICLE XI
