Maximum Dividend Payout Ratio Sample Clauses
The Maximum Dividend Payout Ratio clause sets a limit on the proportion of profits or earnings that a company can distribute to its shareholders as dividends. Typically, this clause specifies a percentage cap, ensuring that only a certain portion of net income or retained earnings is paid out, with the remainder retained within the company for reinvestment or to meet other obligations. Its core practical function is to protect creditors and maintain the company’s financial stability by preventing excessive distributions that could weaken the company’s capital base.
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Maximum Dividend Payout Ratio. Maintain as of each Test Date, a Dividend Payout Ratio of equal to or less than (A) 95% or (B) such greater amount as may be required by applicable law to maintain status as a REIT for tax purposes or to avoid the imposition of income or excise taxes.
Maximum Dividend Payout Ratio. The Dividend Payout Ratio is % [and immediately following the Transaction, will be %], which is equal to or less than the applicable maximum Dividend Payout Ratio required by Section 5.04(a)(vi) of the Credit Agreement.
Maximum Dividend Payout Ratio. The Company shall not make any Restricted Payment during any of its fiscal quarters, which, when added to all Restricted Payments made during the three immediately preceding fiscal quarters, exceeds the greater of (i) 90% of FFO, and 100% of FAD, and (ii) the amounts required to maintain its status as a REIT under the Internal Revenue Code, and, provided an Event of Default shall not have occurred and be continuing, to avoid federal income and excise tax liability. For purposes of this provision, "Restricted Payment" means (i) any dividend or other distribution on any shares of the Company's capital stock (except dividends payable solely in shares of its capital stock or in rights to subscribe for or purchase shares of its capital stock), or (ii) any payment on account of the purchase, redemption, retirement or acquisition of (a) any shares of the Company's capital stock, or (b) any option, warrant or other right to acquire shares of the Company's capital stock.
Maximum Dividend Payout Ratio. CalWest shall not make any Restricted Payment during any calendar quarter, which, when added to all Restricted Payments made during the three immediately preceding calendar quarters, exceeds 100% of Cash Flow of the Consolidated Businesses; provided that Restricted Payments may temporarily exceed 100% of Cash Flow in the ordinary course of business; and provided further that CalWest shall not make any Restricted Payment if a Default or an Event of Default shall have occurred and be continuing or would result therefrom. For purposes of this provision, "Restricted Payment" means any net cash dividend or other net cash distribution on any of CalWest's equity interests (except dividends payable solely in shares of its equity interests or in rights to subscribe for or purchase shares of its equity interests), and shall not include (A) distributions of net cash proceeds from the financing, sale or other disposition of Real Property Assets so long as such financing, sale or disposition otherwise complies with this Agreement and (B) a one-time distribution of approximately $75,000,000 of excess capital that was funded in connection with CalWest's acquisition of Cabot Trust so long as CalWest determines in good faith that such amount is no longer needed for working capital and no Default or Event of Default has occurred and is continuing or would result therefrom.
Maximum Dividend Payout Ratio. The Company shall not make any Restricted Payment during any of its fiscal quarters, which, when added to all Restricted Payments made during the three immediately preceding fiscal quarters, exceeds the greater of (i) 90% of FFO, and 110% of CAD, and (ii) the amounts required to maintain its status as a REIT under the Code. For purposes of this provision, "Restricted Payment" means (i) any dividend or other distribution on any shares of the Company's capital stock (except dividends payable solely in shares of its capital stock or in rights to subscribe for or purchase shares of its capital stock), or (ii) any payment on account of the purchase, redemption, retirement or acquisition of (a) any shares of the Company's capital stock or (b) any option, warrant or other right to acquire shares of the Company's capital stock.
Maximum Dividend Payout Ratio. The Company shall not make any ----------------------------- Restricted Payment during any of its fiscal quarters, which, when added to all Restricted Payments made during the three immediately preceding fiscal quarters, exceeds the greater of (i) 95% of FFO, and 110% of FAD, and (ii) the amounts required to maintain its status as a REIT under the Internal Revenue Code, and, provided an Event of Default shall not have occurred and be continuing, to avoid federal income and excise tax liability. For purposes of this provision, "Restricted Payment" means (i) any dividend or other distribution on any shares of the Company's capital stock (except dividends payable solely in shares of its capital stock or in rights to subscribe for or purchase shares of its capital stock), or (ii) any payment on account of the purchase, redemption, retirement or acquisition of (a) any shares of the Company's capital stock, or (b) any option, warrant or other right to acquire shares of the Company's capital stock.
Maximum Dividend Payout Ratio. The Borrowers shall not make any Restricted Payments after the occurrence and during the continuance of an Event of Default, unless such Restricted Payments are necessary for FelCor Trust to maintain its status as a REIT, and then only in the minimum amount necessary to maintain such status as a REIT.
Maximum Dividend Payout Ratio. The Company shall not make any Restricted Payment during any of its fiscal quarters, which, when added to all Restricted Payments made during the three immediately preceding fiscal quarters, exceeds the greater of (i) 90% of FFO, and (ii) the amounts required to maintain its status as a REIT under the Internal Revenue Code, and, provided an Event of Default shall not have occurred and be continuing, to avoid federal income and excise tax liability. For purposes of this provision, "Restricted Payment" means any cash dividend or other cash distribution on any shares of the Company's capital stock (except dividends payable solely in shares of its capital stock or in rights to subscribe for or purchase shares of its capital stock).
Maximum Dividend Payout Ratio. Maintain at all times a Dividend Payout Ratio of equal to or less than (A) 95% or (B) such greater amount as may be required by applicable law to maintain status as a REIT for tax purposes and avoid imposition of income and excise taxes on the Parent under the Internal Revenue Code.
Maximum Dividend Payout Ratio. The Borrower shall not make any Restricted Payment during any of its fiscal quarters, which, when added to all Restricted Payments made during the three immediately preceding fiscal quarters, exceeds the greater of (i) 90% of FFO of the Borrower, and (ii) the amounts required to maintain the Company's status as a REIT under the Internal Revenue Code, and, provided an Event of Default shall not have occurred and be continuing, to avoid federal income and excise tax liability. For purposes of this provision, "RESTRICTED PAYMENT" means any cash dividend or other cash distribution on any interest in the Borrower's common operating partnership units or on any of the Borrower's common partnership interests or other common equity interests (except dividends or distributions payable solely in interests in operating partnership units, partnership interests, or other equity interests or in rights to subscribe for or purchase interests in its operating partnership units, partnership interests, or other equity interests and except dividends or distributions which are necessary to pay dividends or distributions on preferred stock or other preferred equity interests of the Company).