Redemption and Dividends. For a period of two years from the Closing Date, the Company shall not, either directly or through a subsidiary, (i) redeem or purchase any of its securities outstanding as of the Closing Date, other than redemptions of the Warrants as permitted by the Warrant Agreement, or that may be required in connection with possible termination of employment with the Company under the terms of employment agreements in effect on the Closing Date, or redemptions as otherwise provided for herein, or (ii) pay any dividends, or make any other cash distribution in respect of its securities, in excess of the amount of the Company's current or retained earnings derived after the Closing Date, without the prior written consent of the Representatives, which consent may be withheld for any reason. The Representatives shall either approve or disapprove, in writing of such contemplated stock redemption or dividend or distribution within five (5) business days after the date the Representatives receive written notice of the proposed action. Failure by the Representatives to provide a response to within such five (5) day period shall be deemed to be an approval of the redemption or dividend.
Redemption and Dividends. For a period of two (2) years from the Closing Date, the Company shall not redeem any of its securities and shall not pay any dividends or make any other cash distribution without obtaining the Representatives' prior written consent. The Representatives shall either approve or disapprove such contemplated redemption of securities or dividend payment or distribution within ten (10) business days from the date the Representatives receives written notice of the Company's proposal with respect thereto; a failure of the Representatives to respond within the ten (10) business day period shall be deemed approval of the transaction. Nothing in this Paragraph 3(t) shall be construed to prohibit the Company from calling the Warrants for redemption subsequent to one year from the Effective Date.
Redemption and Dividends. For a period of three years from the Effective Date, the Company shall not redeem any of its securities and shall not pay any dividends or make any other cash distribution in respect of its securities in excess of the amount of the Company's current and retained earnings after the Closing Date, without obtaining the Representative's prior written consent. The Representative shall either approve or disapprove such contemplated redemption of securities or dividend payment or distribution within five business days from the date the Representative receives written notice of the Company's proposal with respect thereto; a failure of the Representative to respond within such period of five business days shall be deemed consent to the transaction.
Redemption and Dividends. Section 3.12(a) Total Debt. · Section 3.12(c) Tangible Net Worth. · Article VI Rights of Participation in Future Equity Issuances. All corresponding provisions of the Notes are deleted in their entirety and such provisions shall be of no further force or effect.
Redemption and Dividends. For a period of two (2) years from the Closing Date, the Company shall not redeem any of its securities (other than redemptions that may be required in connection with possible termination of employment agreements with the Company under the terms of Employment Agreements in effect on the Effective Date and repurchases of Warrants, or as otherwise provided in this Agreement), and shall not pay any dividends or make any other cash distribution in respect of its securities in excess of the amount of the Company's current or retained earnings derived after the Closing Date, without obtaining the Underwriter's prior written consent, which consent shall not be unreasonably withheld. The Underwriter shall either approve or disapprove such contemplated redemption of securities or dividend payment or distribution within ten (10) business days from the date the Underwriter receives written notice of the Company's proposal with respect thereto; a failure of the Underwriter to respond within the ten (10) business day period shall be deemed approval of the transaction. Nothing in this Paragraph 3(s) shall be construed to prohibit the Company from calling the Warrants for redemption subsequent to one year from the Effective Date.
Redemption and Dividends. For a period of two (2) years from the Closing Date, the Company shall not redeem any of its securities and shall not pay any dividends or make any other cash distribution without obtaining the Underwriter's prior written consent. The Underwriter shall either approve or disapprove such contemplated redemption of securities or dividend payment or distribution within ten (10) business days from the date the Underwriter receives written notice of the Company's proposal with respect thereto; a failure of the Underwriter to respond within the ten (10) business day period shall be deemed approval of the transaction. Nothing in this Paragraph 3(s) shall be construed to prohibit the Company from calling the Warrants for redemption subsequent to one year from the Effective Date.
Redemption and Dividends. For a period of two years from the Closing Date, the Company shall not, either directly or through a subsidiary, (i) redeem or purchase any of its securities outstanding as of the Closing Date, other than redemptions that may be required in connection with possible termination of employment with the Company under the terms of employment agreements in effect on the Closing Date, or redemptions as otherwise provided for herein, or (ii) pay any dividends, or make any other cash distribution in respect of its securities, in excess of the amount of the Company's current or retained earnings derived after the Closing Date, without the prior written consent of the Underwriters, which consent may be withheld for any reason. The Underwriter shall either approve or disapprove, in writing of such contemplated stock redemption or dividend or distribution within five (5) business days after the date the Underwriters receive written notice of the proposed action.
Redemption and Dividends. 20 6.3 No Change in Business...........................................20 6.4 Arm's-length Transactions.......................................20 6.5
Redemption and Dividends. Such Borrower will not (and will not permit any of its Subsidiaries to): (1) redeem, retire or otherwise acquire, directly or indirectly, any shares of its capital stock; (2) pay any dividend except (i) stock dividends or (ii) cash dividends after the payment of which no Default or Event of Default will exist or (3) make any other distribution of any Property or cash to stockholders as such.
Redemption and Dividends. Except as permitted or required by the Investment Documents and/or the Stock Option Plan, the Company shall not apply any of its assets to the redemption, retirement, purchase, or acquisition, directly or indirectly, through subsidiaries (as defined in Section 425 of the Code) or otherwise, of any shares of its capital stock. The Company shall not declare or pay any dividends or make any distributions with respect to any shares of capital stock except for dividends or distributions with respect to the Series A Preferred Stock, the Series B Preferred Stock, and the Series C Preferred Stock upon declaration by the Board of Directors.
