Common use of Restriction on Distributions Clause in Contracts

Restriction on Distributions. The Borrower shall not declare or pay any dividend (other than dividends payable in capital stock of the Borrower) or make any other distribution on any shares of Common Stock, or make any loans to its Affiliates other than its subsidiaries (excluding inter-company payables that arise in the ordinary course of business) if the aggregate amount of all such dividends and distributions after October 31, 2003 plus outstanding loans, would exceed the aggregate amount of (i) the Borrower’s Net Income Available for Common Dividends accumulated after May 31, 2003, (ii) the amount of any contributions to the capital of the Borrower made with respect to its Common Stock and other amounts received by the Borrower upon the issuance of its Common Stock after October 31, 2003, plus (iii) $450,000,000.