RESTRICTION ON PAYMENT OF DIVIDENDS. So long as any Preferred Securities of any series remain outstanding, the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock, or make any guarantee payments with respect to the foregoing (other than payments under the Guarantee relating to such Preferred Securities) if at such time (a) the Company shall be in default with respect to its payment or other obligations under the Guarantee relating to such Preferred Securities, (b) there shall have occurred and be continuing a payment default (whether before or after expiration of any period of grace) or an Event of Default hereunder or (c) the Company shall have elected to extend any interest payment period as provided in Section 311, and any such period, or any extension thereof, shall be continuing.
RESTRICTION ON PAYMENT OF DIVIDENDS. From the date of the Closing and at all times thereafter, the Company shall refrain from declaring or issuing any dividends on any series or class of capital stock of the Company without the prior written consent of the holders of a majority of the Shares.
RESTRICTION ON PAYMENT OF DIVIDENDS. So long as any Preferred Securities of any series remain outstanding, if at such time (a) the Company shall be in default with respect to its payment obligations under the Trust Securities Guarantee relating to such Preferred Securities, (b) there shall have occurred and be continuing an Event of Default (whether before or after expiration of any period of grace) resulting from a payment default hereunder or (c) the Company shall have elected to extend any interest payment period as provided in Section 312, and any such period, or any extension thereof, shall be continuing, then the Company shall not (i) declare or pay any dividends or distributions on its capital stock, other than dividends paid in shares of capital stock Trust Securities, or (ii) redeem, purchase, acquire or make a liquidation payment with respect to any Trust Securities capital stock, or (iii) pay any principal, interest or premium on, or repay, repurchase or redeem any debt securities that are equal or junior in right of payment to the Trust Securities.
RESTRICTION ON PAYMENT OF DIVIDENDS. So long as any Preferred Securities of any series remain outstanding, the Company shall not declare or pay any dividend on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock, or make any guarantee payments with respect to the foregoing (other than payments under the Guarantee) if at such time (a) the Company shall be in default with respect to its payment or other obligations under the Guarantee, (b) there shall have occurred and be continuing a payment default (whether before or after expiration of any period of grace) or an Event of Default hereunder or (c) the Company shall have elected to extend any interest payment period as provided in Section 311, and any such period, or any extension thereof, shall be continuing.
RESTRICTION ON PAYMENT OF DIVIDENDS. So long as any Preferred Securities of any series remain outstanding, if at such time (a) the Guarantor shall be in default with respect to its payment obligations under the Trust Securities Guarantee relating to such Preferred Securities, (b) there shall have occurred and be continuing an Event of Default (whether before or after expiration of any period of grace) resulting from a payment default hereunder or (c) the Company shall have elected to extend any interest payment period as provided in Section 312, and any such period, or any extension thereof, shall be continuing, then the Guarantor shall not (i) declare or pay any dividends or distributions on its capital stock, other than dividends paid in shares of capital stock of the Guarantor, or (ii) redeem, purchase, acquire or make a liquidation payment with respect to any of the Guarantor's capital stock, or (iii) pay any principal, interest or premium on, or repay, repurchase or redeem any debt securities that are equal or junior in right of payment to the Guarantees, or (iv) make any payments with respect to any guarantee of debt securities by the Guarantor if such guarantee is equal or junior in right of payment to the Guarantees (other than payments under the Guarantee or the Trust Securities Guarantee relating to such Preferred Securities).
RESTRICTION ON PAYMENT OF DIVIDENDS. The Company shall not, and shall not permit any subsidiary to, (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock (other than dividends or distributions in common stock of the Company), or (b) make any payment of principal of or, interest or premium, if any, on or repay or repurchase or redeem any debt securities (including other Securities) that rank pari passu with or junior in interest to the Securities or make any guarantee payments with respect to such indebtedness if at such time (i) there shall have occurred and be continuing a payment default pursuant to Section 801(a) or 801(b) (whether before or after expiration of any period of grace), or (ii) the Company shall have elected to extend any interest payment period as provided in Section 312, and any such period, or any extension thereof, shall be continuing.
RESTRICTION ON PAYMENT OF DIVIDENDS. Borrower shall not, during the term of this Agreement, pay dividends to any of its stockholders nor shall it make any distributions or repay all or any portion, including accrued interest, of any loans from its stockholders (except for the 7% subordinated Convertible Notes).
RESTRICTION ON PAYMENT OF DIVIDENDS. No Obligor other than the Parent shall (and Avis Europe shall procure that no Obligor that is a member of the Avis Europe Group shall) (i) declare or pay any dividend; (ii) redeem, repurchase, defease, retire or repay any of its preference or ordinary share capital, or resolve to do so; (iii) repay or distribute any share premium account; or (iv) make any other distribution, or pay any non-debt interest or other amounts, on or in respect of its share capital or any class of its share capital; or (v) set apart any sum for any such purpose identified in (i) to (iv) above, other than by an Obligor to another member of the Avis Europe Group or AE Consolidation Limited.
RESTRICTION ON PAYMENT OF DIVIDENDS. Between September 30, 2009 and December 15, 2009, neither Seanergy nor Buyer shall declare or pay a dividend.
RESTRICTION ON PAYMENT OF DIVIDENDS. So long as any Preferred Securities of any series remain outstanding, the Company shall not declare or pay any dividend or distribution (other than dividends or distributions paid in shares of common stock of the Company) on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock, repurchase or redeem any indebtedness that is pari passu with or subordinated to the Securities, or make any guarantee payments with respect to the foregoing (other than payments under the Guarantee relating to such Preferred Securities) if at such time (a) the Company shall be in default with respect to its payment or other obligations under the Guarantee relating to such Preferred Securities, (b) there shall have occurred and be continuing a payment default (whether before or after expiration of any period of grace) or an Event of Default hereunder or (c) the Company shall have elected to extend any interest payment period as provided in Section 311, and any such period, or any extension thereof, shall be continuing.
