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

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. (a) If Debt Securities are issued to a PECO Exelon Trust or a trustee of such trust in connection with the issuance of Trust Securities by such PECO Exelon 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 Exelon Trust or a trustee of such trust in connection with the issuance of Trust Securities by such PECO Exelon 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. (a) If Debt Securities are issued to a PECO NorAm Trust or a trustee of such trust in connection with the issuance of Trust Securities by such PECO NorAm Trust and (i) there shall have occurred any event that would constitute an Event of Default or Default, (ii) the Company NorAm shall be in default with respect to its payment or of any obligations obliga- tions under the Preferred Securities Guarantee or Common Securities Securi- ties Guarantee relating to such NorAm Trust Securitiesor (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) 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 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 respect to, or redeem, purchase or make a liquidation payment with respect to, any of its capital stockJunior to such Securities.