Reduction of capital. A Security Party (other than the Manager) reduces its authorised or issued or subscribed capital, save that the redemption of any redeemable shares, or the buyback of any ordinary shares to preserve its due listing shall not constitute an Event of Default pursuant to this Clause 22 (Events of Default).
Appears in 2 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Reduction of capital. A Security Party (other than the Manager) reduces its authorised or issued or subscribed capital, save that the redemption of any redeemable shares, Guarantor may reduce its authorised or issued or subscribed capital provided that Clause 13.3.20 (Guarantor's capital) is complied with to the buyback of any ordinary shares to preserve its due listing shall not constitute an Event of Default pursuant to this Clause 22 (Events of Default)Lender's satisfaction.
Appears in 1 contract
Reduction of capital. A Security Party (other than the Manager) reduces its authorised or issued or subscribed capital, save that the redemption of any redeemable shares, or the buyback of any ordinary shares to preserve its due listing shall not constitute an Event of Default pursuant to this Clause 22 (Events of Default).
Appears in 1 contract
Samples: Amending and Restating Agreement (Safe Bulkers, Inc.)
Reduction of capital. A Security Party (other than the Manager) reduces its authorised or issued or subscribed capital, save that the redemption of any redeemable shares, or the buyback of any ordinary shares to preserve its due listing shall not constitute an Event of Default pursuant to this Clause 22 (Events of Default)22.
Appears in 1 contract
