Common use of Prohibition Against Dividends, etc Clause in Contracts

Prohibition Against Dividends, etc. The Company shall not (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company's Capital Stock or (b) make any payment of principal of or premium, if any, or interest on or repay or repurchase or redeem any debt securities of the Company (including Debentures) that rank pari passu with or junior in right of payment to the Debentures or (c) make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company (including any Guarantee) if such guarantee ranks pari passu or junior in right of payment to the Debentures (other than (i) dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, Common Stock of the Company, (ii) any declaration of a dividend in connection with the implementation of a stockholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (iii) payments under any Guarantee, (iv) as a result of a reclassification of the Company's Capital Stock or the exchange or conversion of one class or series of the Company's Capital Stock for another class or series of the Company's Capital Stock, (v) the purchase of fractional interests in shares of the Company's Capital Stock pursuant to the conversion or exchange provisions of such Capital Stock or the security being converted or exchanged, and (vi) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company's benefit plans for its directors, officers or employees or any of the Company's dividend reinvestment plans): (X) during any Extension Period, (Y) if at such time there shall have occurred and is continuing any Default or Event of Default, or (Z) if the Company shall be in default with respect to its payment or other obligations under any Guarantee.

Prohibition Against Dividends, etc. The Company shall not (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company's Capital Stock or (b) make any payment of principal of or premium, if any, or interest on or repay or repurchase or redeem any debt securities of the Company (including Debentures) that rank pari passu with or junior in right of payment to the Debentures or (c) make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company (including any Guarantee) if such guarantee ranks pari passu or junior in right of payment to the Debentures (other than (i) dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, Common Stock of the Company, (ii) any declaration of a dividend in connection with the implementation of a stockholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (iii) payments under any Guarantee, (iv) as a result of a reclassification of the Company's Capital Stock or the exchange or conversion of one class or series of the Company's Capital Stock for another class or series of the Company's Capital Stock, including, without limitation, the conversion of the Company's Class C common stock or the Company's Series A convertible preferred stock into shares of the Company's Class A common stock, (v) the purchase of fractional interests in shares of the Company's Capital Stock pursuant to the conversion or exchange provisions of such Capital Stock or the security being converted or exchanged, and (vi) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company's benefit plans for its directors, officers or employees or any of the Company's dividend reinvestment plans): (X) during any Extension Period, (Y) if at such time there shall have occurred and is continuing any Default or Event of Default, or (Z) if the Company shall be in default with respect to its payment or other obligations under any Guarantee.