Common use of Limitation on Dividends; Transactions with Affiliates Clause in Contracts

Limitation on Dividends; Transactions with Affiliates. (a) If Notes are issued to the Trust or a trustee of the 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 of its payment of any obligations under the Preferred Securities Guarantee, then (A) the Company shall not, and shall cause any subsidiary of the Company that is not a wholly owned subsidiary of the Company not to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or acquire, or make a liquidation payment with respect to, any of its capital stock or the capital stock of any such subsidiary, 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 (including guarantees) issued by the Company which rank pari passu with or junior to the Notes, provided that the foregoing restriction in clause (A) does not apply to any stock dividends paid by the Company, or any of its subsidiaries, 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 Notes are issued to the Trust or a trustee of the 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 in respect of its payment of or any other obligations under the Preferred Securities Guarantee, then (A) the Company shall not, and shall cause any subsidiary of the Company that is not a wholly owned subsidiary of the Company not to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or acquirepurchase, acquire or make a liquidation payment with respect to, any of its capital stock or the capital stock of any such subsidiarystock, and (B) the Company shall not make any payment of interest, principal or premium, if any, on on, or repay, repurchase or redeem redeem, any debt securities (including guarantees) issued by the Company which rank pari passu with or junior to the NotesDebentures; provided, provided however, that the foregoing restriction in clause (A) does restrictions shall not apply to (i) any stock dividends paid interest or dividend payments by the Company, where the interest or dividend is paid by way of the issuance of securities that rank junior to the Debentures, (ii) any payments of interest, principal or premium, if any, on, or repayment, repurchase or redemption of, the Subordinated Notes and (iii) any payments or distributions with respect to, or redemptions, purchases or acquisitions of, or any payments in liquidation of, the PERCS (including any of its subsidiaries, where the dividend stock is foregoing with respect to the same stock as that on which guarantee agreement entered into by the dividend is being paidCompany for the benefit of the holders of the PERCS).

Limitation on Dividends; Transactions with Affiliates. (a) If Notes are issued to the Trust or a trustee of the 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 of its payment of or any other obligations under the Preferred Securities Guarantee, then (A) the Company shall not, and shall cause any subsidiary of the Company that is not a wholly owned subsidiary of the Company not to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or acquire, or make a liquidation payment with respect to, any of its capital stock or the capital stock of any such subsidiary, 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 (including guarantees) issued by the Company which rank pari passu with or junior to the Notes, provided that the foregoing restriction in clause (A) does not apply to any stock dividends paid by the Company, or any of its subsidiaries, 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 Notes are issued to the Trust or a trustee of the Trust and (i) there shall have occurred any event that would constitute an Event of Default or Default, (ii) the Company shall be in default with respect of to its payment of any obligations under the Preferred Securities GuaranteeGuarantee or Common Securities Guarantee relating to the Trust or (iii) 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 herein and such period, or any extension thereof, shall be continuing, then (A) the Company shall not, and shall cause any subsidiary of the Company that is not a wholly owned subsidiary of the Company not to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or acquire, or make a liquidation payment with respect to, to any of its capital stock or the capital stock of any such subsidiarystock, 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 (including guarantees) issued by the Company which rank pari passu with or junior to the Notes; provided, provided however, that the foregoing restriction in clause (A) above -------- ------- does not apply to any stock dividends paid by the Company, or any of its subsidiaries, Company 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 Notes are issued to the Trust or a trustee of the Trust and (i) there shall have occurred any event that would constitute an Event of Default or Default, (ii) the Company shall be in default with respect of to its payment of any obligations under the Preferred Securities GuaranteeGuarantee relating to the Trust or (iii) 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 herein and such period, or any extension thereof, shall be continuing, then (A) the Company shall not, and shall cause any subsidiary of the Company that is not a wholly owned subsidiary of the Company not to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or acquire, or make a liquidation payment with respect to, to any of its capital stock or the capital stock of any such subsidiarystock, 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 (including guarantees) issued by the Company which rank pari passu with or junior to the Notes; provided, provided however, that the foregoing restriction in clause (A) above does not apply to -------- ------- any stock dividends paid by the Company, or any of its subsidiaries, Company 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 Notes are issued to the Trust or a trustee of the 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 of its payment of any obligations under the Preferred Capital Securities Guarantee, then (A) the Company shall not, and shall cause any subsidiary of the Company that is not a wholly owned subsidiary of the Company not to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase or acquire, or make a liquidation payment with respect to, any of its capital stock or the capital stock of any such subsidiary, 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 (including guarantees) issued by the Company which rank pari passu with or junior to the Notes, provided that the foregoing restriction in clause (A) does not apply to any stock dividends paid by the Company, or any of its subsidiaries, where the dividend stock is the same stock as that on which the dividend is being paid.