Senior Indebtedness Default. The Company shall not declare or pay any dividends or make any distributions to the holders of capital stock of the Company, or purchase or acquire for value, any of the Debentures if any default has occurred and is continuing with respect to the payment of principal of, premium if any or interest on any Senior Indebtedness.
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Samples: Debenture Purchase Agreement (Berger Holdings LTD), Debenture Purchase Agreement (Teltronics Inc)
Senior Indebtedness Default. The Company shall not declare or pay any dividends or make any distributions to the holders of capital stock of the Company, or purchase or acquire for value, any of the Debentures if any default has occurred and is continuing with respect to the payment of principal of, of premium if any or interest on any Senior Indebtedness.
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Samples: Debenture Purchase Agreement (Universal Automotive Industries Inc /De/)
Senior Indebtedness Default. The Company Borrower shall not declare or pay any dividends or make any distributions to the holders of capital stock of the Company, Borrower or purchase or acquire for value, value any of the Debentures Debenture if any default has occurred and is continuing with respect to the payment of principal of, or premium (if any any) or interest on any Senior Indebtedness.
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