Payment of Dividends and Retirement of Stock. If a Potential Default or an Event of Default has occurred and is continuing or will occur as a result of such payments, Seller shall not pay any dividends or distributions with respect to any capital stock or other equity interests in Seller, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Seller.
Payment of Dividends and Retirement of Stock. Seller shall not, without the prior written consent of Buyer, (a) declare or pay any dividends upon its shares of stock now or hereafter outstanding, except dividends payable in the capital stock of Seller, or make any distribution of assets to its shareholders, whether in cash, property or securities, or (b) acquire, purchase, redeem or retire shares of its capital stock now or hereafter outstanding for value, provided however, that Seller may pay dividends as set forth within the Transactions Terms Letter.
Payment of Dividends and Retirement of Stock. The Payment of Dividends and Retirement of Stock covenant shall be as set forth in the Transactions Terms Letter.”
Payment of Dividends and Retirement of Stock. Seller shall not, without the prior written consent of Buyer, (a) declare or pay any dividends upon its shares of stock now or hereafter outstanding, except dividends payable in the capital stock of Seller, or make any distribution of assets to its shareholders, whether in cash, property or securities, or (b) acquire, purchase, redeem or retire shares of its capital stock now or hereafter outstanding for value; provided, however, that during any fiscal year Seller may, without the prior written consent of Buyer, and provided that a Potential Default or an Event of Default is not existing and will not occur as a result thereof, pay dividends to its shareholders, members, partners or owners provided that such dividends do not exceed, whether on an individual or aggregate basis, one hundred percent (100%) of Seller’s net income for the current fiscal year.
Payment of Dividends and Retirement of Stock. Notwithstanding anything contained in Section 10.9 of the Credit Agreement to the contrary, Lender and Borrower hereby agree that Co-Borrower may declare or pay dividends upon its shares of stock now or hereafter outstanding, provided Co-Borrower:
Payment of Dividends and Retirement of Stock. Borrower shall not, without the prior written notice to Lender, (a) declare or pay any dividends upon its shares of stock now or hereafter outstanding, except dividends payable in the capital stock of Borrower, or make any distribution of assets to its shareholders, whether in cash, property or securities, or (b) acquire, purchase, redeem or retire shares of its capital stock now or hereafter outstanding for value.
Payment of Dividends and Retirement of Stock. Section 10.9 of the Existing Master Repurchase Agreement is hereby amended by deleting such section in its entirety and replacing it with the following:
Payment of Dividends and Retirement of Stock. Lender and Borrower agree to delete Section 10.9 Payment of Dividends and Retirement of Stock in its entirety and replace it with the following: Borrower may without the prior written approval of Lender (a) declare or pay any dividends upon its shares of stock now or hereafter outstanding, including dividends payable in the capital stock of Borrower, or make any distribution of assets to its shareholders, whether in cash, property or securities, or (b) acquire, purchase, redeem or retire shares of its capital stock now or hereafter outstanding for value; so long as no Event of Default or Potential Default has occurred and is continuing and the making of any such dividend or distribution payments will not otherwise cause Borrower to be in breach of its obligations hereunder.
Payment of Dividends and Retirement of Stock. If an Event of Default related to any Seller Party’s failure to comply with Section 9.17 hereof has occurred and is continuing or will occur as a result of such payments, no Seller Party shall pay any dividends or distributions with respect to any capital stock or other equity interests in such Seller Party, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of such Seller Party; provided, however, that the foregoing restriction shall not apply with respect to the payment of dividends or the making of any such other distributions, in each case, solely in connection with the payment of taxes.
Payment of Dividends and Retirement of Stock. Borrower shall not, without the prior written approval of Lender, (a) declare or pay any dividends upon its shares of stock now or hereafter outstanding, except dividends payable in the capital stock of Borrower, or make any distribution of assets to its shareholders, whether in cash, property or securities, or (b) acquire, purchase, redeem or retire shares of its capital stock now or hereafter outstanding for value; provided, however, that the term “dividends” as used in this section will not include ordinary and necessary business and administrative expenses which are paid for the direct benefit of Borrower or Guarantor for which either seeks reimbursement from the other.
