Limitation on Dividends; Transactions with Affiliates. (a) If (i) there shall have occurred any event that would constitute 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 or Common Securities Guarantee relating to the Trust, 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 (other than (i) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants, (ii) as a result of an exchange or conversion of any class or series of the Company's capital stock for any other class or series of the Company's capital stock, or (iii) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged), and (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. However, nothing herein will limit the Company's ability to pay stock dividends where the dividend stock is the same stock as that on which the dividend is being paid.
(b) 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 of this Supplemental Indenture and such period, or any extension thereof, shall be continuing, then (i) 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 (other than (x) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants, (y) as a result of an exchange or conversion of any class or series of the Company's capital stock for any other class or series of the Company's capital stock, or (z) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisi...
Limitation on Dividends; Transactions with Affiliates. (a) If Securities are issued to a MediaOne Trust or a trustee of such trust in connection with the issuance of Trust Securities by such MediaOne Trust and (i) there shall have occurred any event that would constitute an Event of Default or (ii) U S WEST shall be in default with respect to its payment or any obligations under the Preferred Securities Guarantee or Common Securities Guarantee relating to such MediaOne Trust, then (x) the Guarantor and 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, and (y) the Guarantor and the Company shall not make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities (including guarantees) issued by the Guarantor or the Company which rank pari passu with or junior to such Securities; PROVIDED, HOWEVER, that restriction (y) above does not apply to any stock dividends paid by the Guarantor where the dividend stock is the same stock as that on which the dividend is being paid.
(b) If Securities are issued to a MediaOne Trust or a trustee of such trust in connection with the issuance of Trust Securities by such MediaOne Trust and the Company shall have given notice of its election to defer payments of interest on such Securities by extending the interest payment period as provided in any Board Resolution or indenture supplemental hereto and such period, or any extension thereof, shall be continuing, then (i) the Guarantor and 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, and (ii) the Guarantor and the Company shall not make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities (including guarantees) issued by the Guarantor or the Company which rank pari passu with or junior to such Securities; PROVIDED, HOWEVER, that restriction (i) above does not apply to any stock dividends paid by the Guarantor where the dividend stock is the same stock as that on which the dividend is being paid..
Limitation on Dividends; Transactions with Affiliates. (a) If Debt Securities are issued to a PECO Trust or a trustee of such trust in connection with the issuance of Trust Securities by such PECO Trust and (i) there shall have occurred any event that would constitute an Event of Default or (ii) the Company shall be in default with respect to its payment or any obligations under the Preferred Securities Guarantee or Common Securities Guarantee relating to such Trust Securities, then 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) If Debt Securities are issued to a PECO Trust or a trustee of such trust in connection with the issuance of Trust Securities by such PECO Trust and the Company shall have given notice of its election to defer payments of interest on such Debt Securities by extending the interest payment period as provided in any indenture supplemental hereto and such period, or any extension thereof, shall be continuing, then 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.
Limitation on Dividends; Transactions with Affiliates. If Securities are issued to a NorAm Trust or a trustee of such trust in connection with the issuance of Trust Securities by such NorAm Trust and (i) there shall have occurred any event that would constitute an Event of Default, (ii) NorAm shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee or Common Securities Guarantee relating to such NorAm Trust or (iii) the Company shall have given notice of its election to defer payments of interest on such Securities by extending the interest payment period as provided in the Indenture and such period, or any extension thereof, shall be continuing, 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, and (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 such Securities; provided, however, that the restriction in clause (a) above does not apply to any stock dividends
Limitation on Dividends; Transactions with Affiliates. 70 SECTION 10.5 COVENANTS AS TO SUN TRUSTS.. . . . . . . . . . . . . . . . . 70 SECTION 10.6
Limitation on Dividends; Transactions with Affiliates. If Securities are issued to a General Motors Capital Trust or a trustee of such trust in connection with the issuance of Trust Securities by such General Motors Capital Trust and (i) there shall have occurred an Event of Default with respect to such Securities, or (ii) the Corporation shall be in default with respect to its payment of any obligations under a Preferred Securities Guarantee or Common Securities Guarantee relating to such General Motors Capital Trust, then the Corporation shall not (a) declare or pay any dividend on, make any distribution with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (i) purchases or acquisitions of shares of General Motors Common Stock in connection with the satisfaction by the Corporation of its obligations under any employee benefit plans or any other contractual obligation of the Corporation (other than a contractual obligation ranking pari passu with or junior to the Securities), (ii) issuance of capital stock in connection with a recapitalization or reclassification of the Corporation's capital stock or the exchange or conversion of one class or series of the Corporation's capital stock for another class or series of the Corporation's capital stock , in each case by merger or otherwise, or (iii) the purchase of fractional interests in shares of the Corporation's capital stock pursuant to the conversion or exchange provisions of such Company capital stock or the security being converted or exchanged), (b) make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Corporation that rank pari passu with or junior to such Securities (including any other series of Securities issued to a General Motors Capital Trust) and (c) make any guarantee payments with respect to the foregoing (other than pursuant to a Preferred Securities Guarantee relating to such General Motors Capital Trust).
Limitation on Dividends; Transactions with Affiliates. If
(1) there shall have occurred any event that would constitute an Event of Default, (2) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities or the Preferred Securities Guarantee, or (3) if the Company shall have given notice of its election to defer payments of interest on the Debentures by extending the interest payment period as provided herein and such period, or any extension thereof, shall be continuing, then the Company shall not (1) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock or (2) make any payment of principal of, or interest or premium, if any, on or repay, repurchase or redeem, or make any sinking fund payment with respect to, any indebtedness of the Company (including other junior subordinated debt securities) that ranks PARI PASSU with or junior in right of payment to the Debentures or make any guarantee payments with respect to the foregoing (other than (a) dividends or distributions in common stock of the Company, (b) redemptions or purchases of any rights pursuant to the Company's Stock Purchase Rights Plan, or any successor to such Stock Purchase Rights Plan, and the declaration of a dividend of such rights or the issuance of preferred stock under such plans in the future, (c) payments under the Preferred Securities Guarantee, (d) purchases of common stock related to the issuance of common stock under the Company's Stock Purchase and Dividend Reinvestment Plan and any of the Company's benefit plans for its directors, officers or employees and (e) purchases of common stock required to prevent the loss or secure the renewal or reinstatement of any government license or franchise held by the Company or any of its subsidiaries).
Limitation on Dividends; Transactions with Affiliates of the Indenture is hereby amended and restated in its entirety as follows:
Limitation on Dividends; Transactions with Affiliates. If (i) 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 Section 4.1 of the Third Supplemental Indenture and such period, or any extension thereof, shall be continuing, (ii) there shall have occurred any event that would constitute an Event of Default or (iii) the Guarantor shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee or the Common Securities Guarantee, then (a) the Guarantor and the Company shall not declare or pay any dividend on, make any distribution with respect to, or redeem, purchase or make a liquidation payment with respect to, any of its capital stock, including, in the case of the Guarantor, the Communications Stock and the Media Stock, and (b) the Guarantor and the Company shall not make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities (including guarantees) issued by the Guarantor or the Company which rank pari passu with or junior to such Notes, including the 7.96% Notes and the 7.96% Notes Guarantee; provided, however, that clause (a) of this Section 4.06 shall not apply to any stock dividends paid by the Guarantor where the dividend stock is the same stock as that on which the dividend is being paid.
Limitation on Dividends; Transactions with Affiliates. (a) If Securities are issued to a CMS Energy's Trust or a trustee of such trust in connection with the issuance of Trust Securities by such CMS Energy Trust and (i) there shall have occurred any event of which the Issuer has actual knowledge that (A) with the giving of notice or the lapse of time or both, would constitute an Event of Default hereunder and (B) in respect of which the Issuer shall not have taken reasonable steps to cure,
