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 or event of default has occurred and is continuing with respect to any of the Senior Indebtedness.
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Samples: Debenture Purchase Agreement (Aqua Care Systems Inc /De/), 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 or event of default has occurred and is continuing with respect to the payment of principal of premium if any of the or interest on any Senior Indebtedness.
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Samples: Debenture Purchase Agreement (Universal Automotive Industries Inc /De/)
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 or event of default has occurred and is continuing with respect to the payment of principal of, premium if any of the or interest on any Senior Indebtedness.
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