Common use of Purchase or Redemption of Securities, Dividend Restrictions Clause in Contracts

Purchase or Redemption of Securities, Dividend Restrictions. The Borrower will not (a) purchase, redeem or otherwise acquire, or permit any Subsidiary to purchase, redeem or otherwise acquire, any shares of the Borrower's capital stock or warrants now or hereafter outstanding, (b) declare or pay any Distributions (other than stock dividends) or set aside any funds therefor, or (c) apply any of its property or Assets to the purchase, redemption or other retirement of, set apart any sum for the payment of any Distributions on, or for the purchase, redemption, or other retirement of, make any Distributions by reduction of capital or otherwise in respect of, any shares of any class of capital stock or warrants of the Borrower, except for (i) Distributions by the Borrower to the Parent pursuant to a certain Tax Sharing Agreement dated as of April 21, 1994 by and between the Borrower and the Parent, as amended through the Closing Date, and as the same may be further amended from time to time in a manner that is not materially adverse to the Borrower, (ii) Distributions by the Borrower to the Parent to enable the Parent to pay its operating and administrative expenses, including, without limitation, directors fees, legal and audit expenses, Securities and Exchange Commission compliance expenses and corporate franchise and other Taxes, not to exceed in any fiscal year Five Hundred Thousand Dollars ($500,000), (iii) Distributions by the Borrower to the Parent to pay management fees not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in any fiscal year of the Borrower, (iv) Distributions by the Borrower to the Parent to enable the Parent to repurchase any capital stock owned by any Person employed by the Parent and/or the Borrower if such Person is no longer so employed, provided, that the aggregate amount of Distributions for this purpose shall not exceed One Million Dollars ($1,000,000) per annum, and (v) Distributions to the Borrower or to any Subsidiary Guarantor from its Subsidiaries.

Purchase or Redemption of Securities, Dividend Restrictions. The Borrower will not (ai) purchase, redeem or otherwise acquire, or permit any Subsidiary to purchase, redeem or otherwise acquire, any shares of the Borrower's capital stock or warrants now or hereafter outstanding, (bii) declare or pay any Distributions (other than stock dividends) or set aside any funds therefor, or (ciii) apply any of its property or Assets to the purchase, redemption or other retirement of, set apart any sum for the payment of any Distributions on, or for the purchase, redemption, or other retirement of, make any Distributions by reduction of capital or otherwise in respect of, any shares of any class of capital stock or warrants of the Borrower, except for (i) Distributions by the Borrower to the Parent pursuant to a certain Tax Sharing Agreement dated as of April 21, 1994 by and between the Borrower and the Parent, as amended through the Closing Date, and as the same may be further amended from time to time in a manner that is not materially adverse to the Borrower, (ii) Distributions by the Borrower to the Parent to enable the Parent to pay its operating and administrative expenses, including, without limitation, directors fees, legal and audit expenses, Securities and Exchange Commission compliance expenses and corporate franchise and other Taxes, not to exceed in any fiscal year Five Hundred Thousand Dollars ($500,000), (iii) Distributions by the Borrower to the Parent to pay management fees not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in any fiscal year of the Borrower, and (iv) Distributions by the Borrower to the Parent to enable the Parent to repurchase any capital stock owned by any Person employed by the Parent and/or the Borrower if such Person is no longer so employed, provided, that the aggregate amount of Distributions for this purpose shall not exceed One Million Dollars ($1,000,000) per annum, and (v) Distributions to the Borrower or to any Subsidiary Guarantor from its Subsidiaries.

Purchase or Redemption of Securities, Dividend Restrictions. The Borrower will not (a) purchase, redeem or otherwise acquire, or permit any Subsidiary to purchase, redeem or otherwise acquire, any shares of the Borrower's capital stock or warrants now or hereafter outstanding, (b) declare or pay any Distributions (other than stock dividends) or set aside any funds therefor, or (c) apply any of its property or Assets to the purchase, redemption or other retirement of, set apart any sum for the payment of any Distributions on, or for the purchase, redemption, or other retirement of, make any Distributions by reduction of capital or otherwise in respect of, any shares of any class of capital stock or warrants of the Borrower, except for (i) Distributions by the Borrower to the Parent pursuant to a certain Tax Sharing Agreement dated as of April 21, 1994 by and between the Borrower and the Parent, as amended through the Closing Date, and as the same may be further amended from time to time in a manner that is not materially adverse to the Borrower, (ii) Distributions by the Borrower to the Parent to enable the Parent to pay its operating and administrative expenses, including, without limitation, directors fees, legal and audit expenses, Securities and Exchange Commission compliance expenses and corporate franchise and other Taxes, not to exceed in any fiscal year Five Hundred Thousand Dollars ($500,000), (iii) Distributions by the Borrower to the Parent to pay management fees not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in any fiscal year of the Borrower, (iv) Distributions by the Borrower to the Parent to enable the Parent to repurchase any capital stock owned by any Person employed by the Parent and/or the Borrower if such Person is no longer so employed, provided, that the aggregate amount of Distributions for this purpose shall not exceed One Million Dollars ($1,000,000) per annum, (v) so long as the same may be effected with the payment of nominal consideration, the redemption of the South Carolina IRB in conjunction with the exercise of the South Carolina IRB Lease Purchase Option and (vvi) Distributions to the Borrower or to any Subsidiary Guarantor from its Subsidiaries.. (D)

Purchase or Redemption of Securities, Dividend Restrictions. The Borrower will not (a) purchase, redeem or otherwise acquire, or permit any Subsidiary to purchase, redeem or otherwise acquire, acquire any shares of the Borrower's its capital stock stock, warrants or warrants other securities now or hereafter outstanding, (b) declare or pay any Distributions (other than stock dividends) or set aside any funds therefordividends thereon, or (c) apply any of its property or Assets assets to the purchase, redemption or other retirement of, set apart any sum for the payment of any Distributions dividends on, or for the purchase, redemption, or other retirement of, ,make any Distributions distribution by reduction of capital or otherwise in respect of, any shares of any class of capital stock or warrants of the Borrower, except for (i) Distributions by the Borrower or any warrants, permit any Subsidiary to the Parent pursuant to a certain Tax Sharing Agreement dated as purchase or acquire any shares of April 21any class of capital stock of,or warrants issued by, 1994 by and between the Borrower and the Parent, as amended through the Closing Date, and as the same may be further amended from time to time in a manner that is not materially adverse to the Borrower, (ii) Distributions by make any distribution to stockholders or set aside any funds for any such purpose; provided, however, that notwithstanding the foregoing, the Borrower may at any time after the consummation of a Permitted Indenture Refinancing, so long as no Default or Event of Default then exists or would thereupon occur, and so long as, both before and after giving effect thereto, Revolving Credit Availability would be equal to the Parent to enable the Parent to pay its operating and administrative expenses, including, without limitation, directors fees, legal and audit expenses, Securities and Exchange Commission compliance expenses and corporate franchise and other Taxes, not to exceed in any fiscal year Five Hundred Thousand or greater than Three Million Dollars ($500,0003,000,000), (iii) Distributions by the Borrower to the Parent to pay management fees not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in any fiscal year cash dividends on or redeem Preferred Stock of the Borrower, (iv) Distributions by provided that amounts so paid shall not in the Borrower aggregate exceed,during any fiscal year, an amount equal to the Parent to enable the Parent to repurchase any capital stock owned by any Person employed by the Parent and/or the Borrower if lesser of (x) 50% of Borrower's Excess Cash Flow for such Person is no longer so employed, provided, that the aggregate amount of Distributions for this purpose shall not exceed One Million Dollars fiscal year and (y) $1,000,000, or (b) per annumprepay, purchase or redeem any Indebtedness for Borrowed Money other than (i) the Obligations,(ii) required purchases, redemptions and retirements (other than with proceeds of the Loans) of the Senior Notes under the Indenture, and (viii) Distributions to the Borrower or to any Subsidiary Guarantor from its SubsidiariesPermitted Indenture Refinancing.

Purchase or Redemption of Securities, Dividend Restrictions. The Borrower will not (ai) purchase, redeem or otherwise acquire, or permit any Subsidiary to purchase, redeem or otherwise acquire, any shares of the Borrower's capital stock or warrants now or hereafter outstanding, (bii) declare or pay any Distributions (other than stock dividends) or set aside any funds therefor, or (ciii) apply any of its property or Assets to the purchase, redemption or other retirement of, set apart any sum for the payment of any Distributions on, or for the purchase, redemption, or other retirement of, make any Distributions by reduction of capital or otherwise in respect of, any shares of any class of capital stock or warrants of the Borrower, except for (i) Distributions by the Borrower to the Parent pursuant to a certain Tax Sharing Agreement dated as of April 21, 1994 by and between the Borrower and the Parent, as amended through the Closing Date, and as the same may be further amended from time to time in a manner that is not materially adverse to the Borrower, (ii) Distributions by the Borrower to the Parent to enable the Parent to pay its operating and administrative expenses, including, without limitation, directors fees, legal and audit expenses, Securities and Exchange Commission compliance expenses and corporate franchise and other Taxes, not to exceed in any fiscal year Five Hundred Thousand Dollars ($500,000), (iii) Distributions by the Borrower to the Parent to pay management fees not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in any fiscal year of the Borrower, (iv) Distributions by the Borrower to the Parent to enable the Parent to repurchase any capital stock owned by any Person employed by the Parent and/or the Borrower if such Person is no longer so employed, provided, that the aggregate amount of Distributions for this purpose shall not exceed One Million Dollars ($1,000,000) per annum, and (v) Distributions to so long as the Borrower or to any Subsidiary Guarantor from its Subsidiariessame may be effected with the payment of nominal consideration, the redemption of the South Carolina IRB in conjunction with the exercise of the South Carolina IRB Lease Purchase Option.

Purchase or Redemption of Securities, Dividend Restrictions. The Borrower None of the Borrowers nor any of their Subsidiaries will not (a) purchase, redeem or otherwise acquire, or permit any Subsidiary to purchase, redeem or otherwise acquire, acquire any shares of the Borrower's its capital stock or warrants now or hereafter outstanding, (b) declare or pay any Distributions dividends thereon (other than stock dividends) or set aside any funds therefor), or (c) apply any of its property or Assets assets to the purchase, redemption or other retirement of, set apart any sum for the payment of any Distributions dividends on, or for the purchase, redemption, or other retirement of, make any Distributions distribution by reduction of capital or otherwise in respect of, any shares of any class of capital stock of any Borrower or any Subsidiary, or any warrants, (d) permit any Subsidiary to purchase or acquire any shares of any class of capital stock of, or warrants issued by, any Borrower or any Subsidiary, (e) make any distribution to stockholders or set aside any funds for any such purpose, and (f) not prepay, purchase or redeem any Indebtedness for Borrowed Money other than the Obligations; except that prior to the occurrence of the Borrowera Default or an Event of Default, except for (i) Distributions by the Borrower to the Parent pursuant to a certain Tax Sharing Agreement dated as of April 21, 1994 by Borrowers and between the Borrower and the Parent, as amended through the Closing Date, and as the same may their Subsidiaries shall be further amended from time to time in a manner that is not materially adverse to the Borrower, (ii) Distributions by the Borrower to the Parent to enable the Parent to pay its operating and administrative expenses, including, without limitation, directors fees, legal and audit expenses, Securities and Exchange Commission compliance expenses and corporate franchise and other Taxes, not to exceed in any fiscal year Five Hundred Thousand Dollars ($500,000), (iii) Distributions by the Borrower to the Parent to pay management fees not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) in any fiscal year of the Borrower, (iv) Distributions by the Borrower to the Parent to enable the Parent entitled to repurchase any capital stock owned by any management Person employed by any of the Parent Borrowers and/or the Borrower their Subsidiaries if such Person is no longer so employed, provided, that the aggregate net amount of Distributions payable for this purpose shall not exceed One Million Five Hundred Thousand Dollars ($1,000,000) 500,000), plus the proceeds of the sale of any equity securities to management, on a per annum, annum basis and (vii) Distributions the Borrowers and their Subsidiaries shall be entitled to pay management fees to the Borrower Thomxx X. Xxx Xxxpany under and to the extent provided in the Management Agreement dated as of July 31, 1992 as in effect on the Closing Date and as may be subsequently amended with the prior written consent of the Agent, which consent shall not be unreasonably withheld and shall only be required to the extent any proposed amendment affects the timing, manner or increase of amounts of any payments to any Subsidiary Guarantor from its SubsidiariesThomxx X. Xxx Xxxpany.