Special Dividend. Seller shall use commercially reasonable efforts to cause the Company to declare and pay the maximum approved special dividend to Seller, in an amount not exceeding $100,000,000, immediately prior to Closing. Seller and Buyer shall cooperate (i) to seek any regulatory approval which may be required for the payment of any such dividend (including the payment of any dividend from the Insurance Subsidiaries), and (ii) to identify mutually agreed upon U.S. government obligations which the Company or its Subsidiaries shall sell in order to facilitate the payment of the special dividend described in this Section 5.
Appears in 4 contracts
Samples: Stock Purchase Agreement (Chubb Corp), Stock Purchase Agreement (Jefferson Pilot Corp), Stock Purchase Agreement (Jefferson Pilot Corp)
