Common use of No payment of dividend Clause in Contracts

No payment of dividend. The Guarantor shall not declare, make or pay any dividend or other distribution (or interest on any unpaid dividend or other distribution) (whether in cash or in kind) on or in respect of its share capital (including any class of its share capital) unless: (a) at the relevant time no Termination Event has occurred and is continuing; and (b) a Termination Event would not occur as a direct result of such payment or distribution.

No payment of dividend. The Guarantor shall not declare, make or pay any dividend or other distribution (or interest on any unpaid dividend or other distribution) (whether in cash or in kind) on or in respect of its share capital (including in relation to any class preferred shares) following the occurrence of its share capital) unless: (a) at the relevant time no Termination Event has occurred and is continuing; and (b) a Termination Event would not occur as a direct result or where the payment of such payment dividend or distributiondistribution of such share capital will result in the occurrence of a Potential Termination Event or Termination Event.

No payment of dividend. The Guarantor shall not declare, make or pay any dividend or other distribution (or interest on any unpaid dividend or other distribution) (whether in cash or in kind) on or in respect of its share capital (including any class whether in cash or in kind) upon the occurrence of its share capital) unless: (a) at the relevant time no Termination Event has occurred and is continuing; and (b) a Termination Event would not occur as a direct result described in clause 48 of such payment or distributionthe Bareboat Charter.