Common use of Series A Preferred Securities Clause in Contracts

Series A Preferred Securities. The Borrower will not, and will not ----------------------------- permit Torchmark Capital L.L.C. to, declare or pay dividends or distributions on, or redeem, purchase or otherwise acquire, the Series A Preferred Securities or any portion thereof if, after giving effect thereto, a Default or Unmatured Default would exist.

Series A Preferred Securities. The Borrower Guarantor will not, and will ----------------------------- not ----------------------------- permit Torchmark Capital L.L.C. to, declare or pay dividends or distributions on, or redeem, purchase or otherwise acquire, the Series A Preferred Securities or any portion thereof if, after giving effect thereto, a Default or Unmatured Default would exist.

Series A Preferred Securities. The Borrower will not, and will ----------------------------- not ----------------------------- permit Torchmark Capital L.L.C. to, declare or pay dividends or distributions on, or redeem, purchase or otherwise acquire, the Series A Preferred Securities or any portion thereof if, after giving effect thereto, a Default or Unmatured Default would exist.