Common use of Limits on Distributions Clause in Contracts

Limits on Distributions. Seller shall not pay, make or declare or incur any liability to pay, make or declare any dividend (excluding stock dividends) or other distribution, direct or indirect, on or on account of any shares of its stock (or equivalent equity interest) or any redemption or other acquisition, direct or indirect, of any shares of its stock (or equivalent equity interest) or of any warrants, rights or other options to purchase any shares of its stock (or equivalent equity interest), nor purchase, acquire, redeem or retire any stock (or equivalent equity interest) in itself whether now or hereafter outstanding, except that, so long as no Default or Event of Default exists at such time or will occur as a result of such payment, Seller may pay Permitted Dividends.

Appears in 3 contracts

Samples: Master Repurchase Agreement (Altisource Asset Management Corp), Master Repurchase Agreement, Master Repurchase Agreement (Pulte Homes Inc/Mi/)

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Limits on Distributions. Without Buyer’s prior written consent, Seller shall not pay, make or declare or incur any liability to pay, make or declare any dividend (excluding stock dividends) or other distribution, direct or indirect, on or on account of any shares of its stock (or equivalent equity interest) or any redemption or other acquisition, direct or indirect, of any shares of its stock (or equivalent equity interest) or of any warrants, rights or other options to purchase any shares of its stock (or equivalent equity interest), nor purchase, acquire, redeem or retire any stock (or equivalent equity interest) in itself whether now or hereafter outstanding, except that, so long as no Default or Event of Default exists at such time or will occur as a result of such payment, Seller may pay Permitted DividendsDividends without Buyer’s prior written consent.

Appears in 1 contract

Samples: Master Repurchase Agreement (AmeriHome, Inc.)

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Limits on Distributions. Without Buyer’s prior written consent, Seller shall not pay, make or declare or incur any liability to pay, make or declare any dividend (excluding stock dividendsdividends or equivalent) or other distribution, direct or indirect, on or on account of any shares of its stock (or equivalent equity interest) or any redemption or other acquisition, direct or indirect, of any shares of its stock (or equivalent equity interest) or of any warrants, rights or other options to purchase any shares of its stock (or equivalent equity interest), nor purchase, acquire, redeem or retire any stock (or equivalent equity interest) in itself whether now or hereafter outstanding, except ; provided that, so long as only if no Default or Event of Default exists at such the time or of the payment and none will occur as a result of exist after giving effect to such payment, Seller may pay Permitted Dividendscash distributions to its equity owners.

Appears in 1 contract

Samples: Master Repurchase Agreement (Pennymac Financial Services, Inc.)

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