Restricted Distributions and Redemptions. Neither the Borrower nor any of its Subsidiaries will (a) declare or pay any Distributions, or (b) redeem, convert, retire or otherwise acquire shares of any class of its capital stock (other than in connection with a merger permitted by §8.4 hereof or conversion into another form of equity of any preferred shares of the Borrower existing as of the Effective Date pursuant to the terms thereof), unless at the time of such Distribution or redemption no Default or Event of Default exists or would be created hereunder. Notwithstanding the above, any Subsidiary may make Distributions to the Borrower and the Borrower agrees that neither the Borrower nor any Significant Subsidiary will enter into any agreement restricting Distributions from such Significant Subsidiary to the Borrower.
Restricted Distributions and Redemptions. None of the Borrowers may make Distributions except as set forth in this ss.
Restricted Distributions and Redemptions. The Borrowers shall not redeem, convert, retire or otherwise acquire shares of any class of its capital stock, or make any Distributions, except that any Borrower may make Distributions to another Borrower. In addition, the Borrowers shall not effect or permit any change in or amendment to any document or instrument pertaining to the terms of any Borrower's capital stock. Notwithstanding the foregoing, no Borrower shall make any Distribution under this Section 7.6 if a Default or Event of Default exists or would be created by the making of such Distribution.
Restricted Distributions and Redemptions. None of the Borrowers shall make Distributions except any Borrower may make Distributions to another Borrower provided no Default or Event of Default exists or would be created by the making of such Distribution. None of the Borrowers shall effect or permit any change in or amendment to any document or instrument pertaining to the terms of any Borrower's (other than the Parent's) capital stock.
Restricted Distributions and Redemptions. Neither the Borrower nor any of its Subsidiaries will (a) declare or pay any Distributions, or (b) redeem, convert, retire or otherwise acquire shares of any class of its capital stock (other than in connection with a merger permitted by Section 24.4 hereof or conversion into another form of equity of any preferred shares of the Borrower existing as of the Closing Date pursuant to the terms thereof); provided that the 42 -42- Borrower and its Subsidiaries may pay cash dividends and redeem stock in an aggregate amount not to exceed (x) $25,000,000 plus (y) on a cumulative basis, 50% of positive Consolidated Net Income after December 31, 1995. Notwithstanding the above, any Subsidiary may make Distributions to the Borrower and the Borrower agrees that neither the Borrower nor any Material Subsidiary will enter into any agreement restricting Distributions from such Material Subsidiary to the Borrower.
Restricted Distributions and Redemptions. None of the Obligors will (a) declare or pay any Distributions, or (b) redeem, convert, retire or otherwise acquire shares of any class of its capital stock (other than in connection with a merger permitted by Section 6.4(4) hereof or conversion into another form of equity of any preferred shares of WMI existing as of the Closing Date pursuant to the terms thereof), unless at the time of such Distribution or redemption no Event of Default or Pending Event of Default exists or would be created hereunder. Notwithstanding the above, any Subsidiary may make Distributions to WMI and WMI agrees that no Obligor will enter into any agreement restricting Distributions from such Obligor to the Borrower.
Restricted Distributions and Redemptions. Neither the
Restricted Distributions and Redemptions. Neither the Company nor any of its Subsidiaries shall redeem, convert, retire or otherwise acquire shares of any class of its capital stock or other equity interest, or make any Distributions, except Distributions to the Company or another Subsidiary of the Company. In addition, neither the Company nor any of its Subsidiaries shall effect or permit any change in or amendment to any document or instrument pertaining to the terms of the Company or any of its Subsidiaries capital stock or other equity interest. Notwithstanding the foregoing, neither the Company nor any of its Subsidiaries shall make any Distribution under this paragraph 6G if a Default or Event of Default exists or would be created by the making of such Distribution.
Restricted Distributions and Redemptions. None of the Obligors will (a) declare or pay any Distributions, or (b) redeem, convert, retire or otherwise acquire shares of any class of its capital stock unless such action is permitted under §8.5 of the U.S. Credit Agreement, as such provision exists at the date of this Agreement.
Restricted Distributions and Redemptions. None of the Borrowers shall make Distributions except that the Parent may repurchase shares of its common stock having an aggregate value of up to $15,000,000 per year and any Borrower may make Distributions to another Borrower PROVIDED no Default or Event of Default exists or would be created by the making of such Distributions. Notwithstanding the foregoing, any Borrower may make Distributions to the Parent. None of the Borrowers shall effect or permit any change in or amendment to any document or instrument pertaining to the terms of any Borrower's (other than the Parent's) capital stock that could adversely affect the rights of the Lenders and the Administrative Agent.
