Common use of No Dividends; No Redemption Clause in Contracts

No Dividends; No Redemption. Declare any dividend, pay or set aside for payment any dividend or other distribution, in cash, stock, or other property, or make any payment to any related parties, including to any preferred stockholders, as a dividend, redemption, or otherwise, other than the payment of salaries in the ordinary course of business.

Appears in 11 contracts

Samples: Promissory Note (Armada Water Assets Inc), Promissory Note (Armada Water Assets Inc), Promissory Note (Armada Water Assets Inc)

AutoNDA by SimpleDocs

No Dividends; No Redemption. Declare any dividend, pay or set aside for payment any dividend or other distribution, in cash, stock, or other property, or make any payment to any related parties, including to any preferred stockholders, as a dividend, redemption, or otherwise, other than the payment of salaries in the ordinary course of business.;

Appears in 2 contracts

Samples: Securities Agreement (Maverick Oil & Gas, Inc.), Securities Agreement (AFG Enterprises USA, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!