Limitation on Dividends and Other Restricted Payments. (a) The Borrower shall not, and shall not permit any Material Restricted Subsidiary to, directly or indirectly, (i) declare or pay any dividend or make any distribution on or in respect of its Capital Stock (including any such payment in connection with any merger or consolidation to which the Borrower is a party) except (x) dividends or distributions payable solely in its Capital Stock (other than Disqualified Stock) and (y) dividends or distributions payable to the Borrower or any Restricted Subsidiary (and, in the case of any such Restricted Subsidiary making such dividend or distribution, to other holders of its Capital Stock on no more than a pro rata basis, measured by value), (ii) purchase, redeem, retire or otherwise acquire for value any Capital Stock of the Borrower held by Persons other than the Borrower or a Restricted Subsidiary (other than any acquisition of Capital Stock deemed to occur upon the exercise of options if such Capital Stock represents a portion of the exercise price thereof), (iii) voluntarily purchase, repurchase, redeem, defease or otherwise voluntarily acquire or retire for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Subordinated Obligations (other than a purchase, repurchase, redemption, defeasance or other acquisition or retirement for value in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such purchase, repurchase, redemption, defeasance or other acquisition or retirement) or (iv) make any Investment (other than a Permitted Investment) in any Person (any such dividend, distribution, purchase, repurchase, redemption, defeasance, other acquisition or retirement or Investment being herein referred to as a “Restricted Payment”), if at the time the Borrower or such Restricted Subsidiary makes such Restricted Payment and after giving effect thereto:
Limitation on Dividends and Other Restricted Payments. Declare or pay any dividend (other than dividends payable solely in its common stock) 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 or any Subsidiary or any warrants or options to purchase any such Capital Stock, 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 thereof (such declarations, payments, setting apart, purchases, redemptions, defeasances, retirements, acquisitions and distributions being herein called “Restricted Payments”) except (a) any Subsidiary may pay dividends to the Borrower or any other Subsidiary and (b) the Borrower or any Subsidiary may make Restricted Payments pursuant to and in accordance with customary stock option plans or other customary benefit plans for management or employees of the Borrower and its Subsidiaries.
Limitation on Dividends and Other Restricted Payments. Declare or pay any dividend (other than dividends payable solely in its common stock) 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 or any Subsidiary or any warrants or options to purchase any such Capital Stock, 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 thereof (such declarations, payments, setting apart, purchases, redemptions, defeasances, retirements, acquisitions and distributions being herein called “Restricted Payments”) except (a) as permitted by subsections 8.5 or 8.9, (b) any Subsidiary may pay dividends to the Borrower or any other Subsidiary, (c) the Borrower or any Subsidiary may make Restricted Payments pursuant to and in accordance with customary stock option plans or other customary benefit plans for management or employees of the Borrower and its Subsidiaries, and (d) notwithstanding anything to the contrary in subsection 8.9, the Borrower may repurchase, and/or pay dividends in respect of, Capital Stock of the Borrower in an amount not to exceed $250,000,000 in the aggregate prior to the Revolving Termination Date.
Limitation on Dividends and Other Restricted Payments. The Borrower will not and will not permit any of its Subsidiaries to pay or declare dividends (other than stock dividends) on, or repurchase, the Borrower's capital stock in excess of $10,000,000 in the aggregate for all such payments and purchases in any Fiscal Year. Borrower will not, and will not permit any Restricted Subsidiary to, make any other Restricted Payments in excess of $5,000,000 in the aggregate for all such Restricted Payments during any Fiscal Year; provided, however, that in the event that any Unrestricted Subsidiary of Borrower is redesignated to be a Restricted Subsidiary of Borrower for purposes of this Agreement, then for purposes of redetermining compliance with this Section, all Restricted Payments made to such Unrestricted Subsidiary shall be deducted from the aggregate total of all Restricted payments made during such Fiscal Year. No Restricted Payment may be made (1) if the Obligations shall exceed the Facility Amount, (2) if any Default or Event of Default shall have occurred and be continuing, or (3) if as a result thereof, any Default or Event of Default shall occur and be continuing."
Limitation on Dividends and Other Restricted Payments. The Borrower will not, and will not permit any Subsidiary to, declare or make, directly or indirectly, any Restricted Payment except the following (each, a “Permitted Payment”):
Limitation on Dividends and Other Restricted Payments. Declare or pay any dividend (other than dividends payable solely in common stock of the Company) 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 or any Subsidiary or any warrants or options to purchase any such Capital Stock, 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 or any Subsidiary thereof (such declarations, payments, setting apart, purchases, redemptions, defeasances, retirements, acquisitions and distributions being herein called "RESTRICTED PAYMENTS") except (a) as permitted by subsections 9.5 and 9.9, and (b) any Subsidiary may pay dividends to the Company or any other Subsidiary.
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Limitation on Dividends and Other Restricted Payments. Without the prior written consent of the Investor, neither the Company nor the Parent shall make any Restricted Payment (as defined below).
Limitation on Dividends and Other Restricted Payments. The Company shall not, and shall not permit any of its Subsidiaries (other than the Trusts) to make any Restricted Payment prior to the exchange of the Deferred Additional Interest Notes in their entirety for Equity Interests pursuant to Section 6. Without limiting the preceding sentence, following the consummation of an Initial Public Offering, so long as any amount remains unpaid on any Note, the Company shall not, and shall not permit any of its Subsidiaries (other than the Trusts) to, make any Restricted Payment if, after making such Restricted Payment, the aggregate amount of such Restricted Payments from and after such consummation would exceed (a) 50% of the aggregate net income of the Group for each fiscal year or portion thereof following the first day of the calendar quarter in which such consummation occurs minus (b) 100% of the losses of the Group for each fiscal year or portion thereof following the first day of the calendar quarter in which such consummation occurs; provided, however, that notwithstanding the above, the Company may use the aggregate net proceeds to the Company of an Initial Public Offering and subsequent Public Offerings, in an amount equal to the lesser of $6,000,000 and 30% of such net proceeds, to make payments of principal on the Partner Promissory Notes. For purposes of this Section 5.10, net income means the difference of revenues minus (a) expenses and (b) taxes, only if such difference is a positive number; and losses means the absolute value of the difference of revenues minus (a) expenses and (b) taxes, only if such difference is a negative number, in each case calculated in accordance with generally accepted accounting principles.
Limitation on Dividends and Other Restricted Payments. (a) ----------------------------------------------------- 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 Borrower or any warrants or options to purchase any such Capital Stock, 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 other than
