Common use of Restriction on Redemption and Acquisition of Own Shares Clause in Contracts

Restriction on Redemption and Acquisition of Own Shares. The Parent will not directly or indirectly redeem, purchase, retire or otherwise acquire for consideration any shares, stock or warrants issued by it or set apart any sum for any such purpose (other than for the purpose of any Employee Share Scheme) or otherwise reduce its capital, in each case without the consent of the Majority Lenders, PROVIDED THAT the Parent may purchase or otherwise acquire any stock issued by it if (and only if) each of the following conditions is met: (a) the Parent is satisfied that it will be in compliance with paragraph (a) of Clause 22.2 (Financial Condition) if that purchase or other acquisition is made; (b) the Parent has not received notice from the Agent certifying that a Default has occurred and is continuing.

Restriction on Redemption and Acquisition of Own Shares. The Parent will not directly or indirectly redeem, purchase, retire or otherwise acquire for consideration any shares, stock or warrants issued by it or set apart any sum for any such purpose (other than for the purpose of any Employee Share Scheme) or otherwise reduce its capital, in each case without the consent of the Majority Lenders, PROVIDED THAT provided that the Parent may purchase or otherwise acquire any stock issued by it without such consent if (and only if) each of the following conditions is met: (a) the Parent is satisfied that it will be in compliance with paragraph (a) of Clause 22.2 21.2 (Financial Condition) if that purchase or other acquisition is made; (b) the Parent has not received notice from the Agent certifying that a Default has occurred and is continuing.

Restriction on Redemption and Acquisition of Own Shares. The Parent will not directly or indirectly redeem, purchase, retire or otherwise acquire for consideration any shares, stock or warrants issued by it or set apart any sum for any such purpose (other than for the purpose of any Employee Share Scheme) or otherwise reduce its capital, in each case without the consent of the Majority Lenders, PROVIDED THAT provided that the Parent may purchase or otherwise acquire any stock issued by it if (and only if) each of the following conditions is met: (a) the Parent is satisfied that it will be in compliance with paragraph (a) of Clause 22.2 (Financial Condition) if that purchase or other acquisition is made; (b) the Parent has not received notice from the Agent certifying that a Default has occurred and is continuing.

Restriction on Redemption and Acquisition of Own Shares. The Parent will not directly or indirectly redeem, purchase, retire or otherwise acquire for consideration any shares, stock or warrants issued by it or set apart any sum for any such purpose (other than for the purpose of any Employee Share Scheme) or otherwise reduce its capital, in each case without the consent of the Majority Lenders, PROVIDED THAT provided that the Parent may purchase or otherwise acquire any stock issued by it if (and only if) each of the following conditions is met: (a) the Parent is satisfied that it will be in compliance with paragraph (a) of Clause 22.2 21.2 (Financial Condition) if that purchase or other acquisition is made; (b) the Parent has not received notice from the Agent certifying that a Default has occurred and is continuing.