Restriction on Dividends and Repurchases. The Company covenants and agrees that it shall not violate any of the restrictions on dividends, distributions, redemptions, repurchases, acquisitions and related actions set forth in the Certificate of Designation, which are incorporated by reference herein as if set forth in full.
Restriction on Dividends and Repurchases. (a) Prior to the earlier of (x) the third anniversary of the Closing Date and (y) the date on which the Preferred Shares have been redeemed in whole or the Investor has transferred all of the Preferred Shares to third parties which are not Affiliates of the Investor, neither the Company nor any Company Subsidiary shall, without the consent of the Investor:
Restriction on Dividends and Repurchases. (i) Prior to the date on which all of the Senior Subordinated Securities have been redeemed in whole, neither the Credit Union nor any Credit Union Subsidiary shall, redeem, purchase, repay or acquire any equity or debt capital instruments of any kind of the Credit Union or any Credit Union Subsidiary, other than (A) maturing secondary capital accounts (for the avoidance of doubt, only with respect to amounts mandatorily then due and payable pursuant to the terms of the instrument thereof with respect to such secondary capital accounts and not any changes in regulatory treatment) or
Restriction on Dividends and Repurchases. (a) Until such time as the Investor ceases to own any debt or equity securities of the Company or an Affiliate of the Company acquired pursuant to this Agreement, neither the Company nor any Company Subsidiary shall, without the consent of the Investor:
Restriction on Dividends and Repurchases. (a) To the extent the Company is a validly electing S corporation within the meaning of Sections 1361 and 1362 of the Code for any portion of a designated year, Investor consent shall not be required for the payment to the shareholders of any Allowable Tax Distribution. For purposes of this Agreement, the term “
Restriction on Dividends and Repurchases. (a) Until the earlier of (i) November 21, 2011 or (ii) such time as the Investor ceases to own any debt or equity securities of the Company or an Affiliate of the Company acquired pursuant to this Agreement or the Amended Warrant, neither the Company nor any Company Subsidiary shall, without the consent of the Investor:
Restriction on Dividends and Repurchases. So long as the Series G Preferred Stock is outstanding, neither the Company nor any subsidiary of the Company shall, without the consent of the Investor:
Restriction on Dividends and Repurchases. (a) Prior to the earlier of (x) the fifth anniversary of the Commencement Date and (y) the date on which the Series F Preferred Stock has been redeemed in whole or the Investor has transferred all of the Series F Preferred Stock to third parties which are not Affiliates of the Investor, neither the Company nor any Company Subsidiary shall, without the consent of the Investor:
Restriction on Dividends and Repurchases. (i) Prior to the date on which all of the CDCI Senior Subordinated Securities have been redeemed in whole, neither the Company nor any Company Subsidiary shall,
Restriction on Dividends and Repurchases. (i) Prior to the date on which all of the Senior Subordinated Securities have been redeemed in whole, neither the Company nor any Company Subsidiary shall, (x) redeem, purchase, repay or acquire any trust preferred securities or other capital instruments of any kind of the Company or any Company Subsidiary, other than redemptions, purchases, repayments or other acquisitions of trust preferred securities or other capital instruments of any kind of the Company or any Company Subsidiary required pursuant to binding contractual agreements entered into prior to October 21, 2009, unless all accrued and unpaid Interest for all past interest periods on the Senior Subordinated Securities is paid in full or (y) permit any increase to regularly paid common dividends on Common Stock. Notwithstanding the foregoing, an increase in dividends shall be permitted where such increase is solely proportionate to the increase in taxable income of the Company and such increased dividends are distributed to shareholders in order to fund their individual tax payments on such allocable taxable income (a “Tax Distribution”). The Investor and any subsequent investors who purchase the Senior Subordinated Securities shall have the right to challenge the amount of the proposed Tax Distributions to the extent it believes they exceed the amount necessary for the Company’s shareholders to pay their allocable share of income taxes.
