Restriction on Dividends. The Company will not declare or pay any dividend on any shares of its common stock (other than dividends payable in shares of its common stock) or make any other distribution on any such shares, or purchase or otherwise acquire any such shares (except shares acquired without cost to the Company) whenever such action would reduce the earned surplus of the Company to an amount less than $10,000,000 or such lesser amount as may remain after deducting from said $10,000,000 all amounts appearing in the books of account of the Company on December 31, 1948, which shall thereafter, pursuant to any order or rule of any regulatory body entered after said date, be required to be removed, in whole or in part, from the books of account of the Company by charges to earned surplus.
Restriction on Dividends. 10 SECTION 4.04. Use of Facsimile Seal and Signatures ..........................10 SECTION 4.05. Effective Period of Supplemental Indenture ....................10 SECTION 4.06. Time for Making of Payment ....................................10
Restriction on Dividends. The Maker shall not, and shall not permit any Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary to pay dividends or distributions to the Maker, pay any indebtedness owed to the Maker or transfer any properties or assets to the Maker
Restriction on Dividends. The Borrower will not make dividend distributions to its shareholders at any time when there exists an outstanding balance on the Loan.
Restriction on Dividends. So long as any share of Designated Preferred Stock remains outstanding, neither the Issuer nor any Issuer Subsidiary shall, declare or pay any dividend or make any distribution on Common Stock, Junior Stock, Parity Stock or other capital stock or other equity securities of any kind of the Issuer or any Issuer Subsidiary (other than (i) regular quarterly cash dividends of not more than the amount of the last quarterly cash dividend per share declared or, if lower, announced to its holders of Common Stock an intention to declare, on the Common Stock prior to [For Companies with CPP/CDCI Securities outstanding, insert the date set forth in the analogous provision of the related Securities Purchase Agreement][For Companies without CPP/CDCI Securities outstanding: October 21, 20093], as adjusted for any stock split, stock dividend, reverse stock split, reclassification or similar transaction, (ii) dividends payable solely in shares of Common Stock, (iii) regular dividends on shares of preferred stock in accordance with the terms thereof and which are permitted under the terms of this Section 3, (iv) dividends or distributions by any wholly-owned Issuer Subsidiary, (v) dividends or distributions by any Issuer Subsidiary required pursuant to binding contractual agreements entered into prior to [For Companies with CPP/CDCI Securities outstanding, insert the date set forth in the analogous provision of the related Securities Purchase Agreement][For Companies without CPP/CDCI Securities outstanding: October 21, 20094)] or (vi) in the case of pari passu Preferred Stock, dividends payable on a pro rata basis with Designated Preferred Stock), unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend Period (including, if applicable as provided in 3 For exchanges of CPP, the date will be the date for the same provision in that SPA.
Restriction on Dividends. SECTION 3.05. Use of Facsimile Seal and Signatures........................ SECTION 3.06. Time for Making of Payment.................................. SECTION 3.07. Effective Period of Supplemental Indenture.................. SECTION 3.08 Effect of Approval of Board of Public Utilities of the State of New Jersey................................ Section 3.09. Execution in Counterparts................................... ACKNOWLEDGEMENTS..............................................................
Restriction on Dividends. The Company covenants that, so long as any of the Securities are outstanding, it shall not declare or pay any dividends or other payments of cash or other property solely on account of the Capital Stock to its stockholders (other than any dividend payable in shares of or rights to acquire shares of Capital Stock on a pro rata basis to all stockholders), unless no Default or Event of Default then exists or would exist immediately following the declaration or payment of such dividend or other payment.
Restriction on Dividends. Until shares of Restricted Stock granted hereby are fully vested, the Restricted Stock shall not be eligible for dividends declared with respect to the unrestricted Common Stock of the Company and the Awardee shall not receive any dividends on such shares.
Restriction on Dividends. The Company shall not declare or make any dividend payment or other distribution of assets, properties, cash rights, obligations or securities on account or in respect of any of its shares of Common Stock or any shares of preferred stock other than those which are both (x) required by the Charter, and (y) relate to the Preferred Shares of the Company.
Restriction on Dividends. 24 7.3 Restriction on Issuances of Shares............................ 24 7.4
