Stock Redemptions and Distributions. Borrower will not make or declare or incur any liability to make any Distribution in respect of the capital stock of Borrower.
Stock Redemptions and Distributions. Borrower will not, and it will not cause or permit any Subsidiary to, declare or incur any liability to make any Distributions; provided, however, that so long as no Default or Event of Default has occurred and is continuing or would be created thereby, Borrower and Subsidiaries may make Distributions in an aggregate amount not to exceed Fifty Percent (50%) of Borrower’s Consolidated Net Income for the previous fiscal year of Borrower (and for purposes of calculating compliance with this covenant, those Distributions consisting of the repurchase of the capital stock of Borrower shall not be included in such calculation). In addition, so long as no Default or Event of Default has occurred and is continuing or would be created thereby, Borrower may repurchase the shares of its capital stock in the aggregate amount not to exceed 1,000,000 shares.
Stock Redemptions and Distributions. No Subsidiary shall make any Distribution except to Borrower or to a Subsidiary wholly owned by Borrower. With respect to its common Equity Interests, Borrower will not declare or make any Distribution to its shareholders (excluding any stock split or stock dividend) except, so long as the Permitted Distribution Conditions are satisfied before and immediately after giving effect to such proposed Distributions, Borrower may declare and make the following Distributions:
Stock Redemptions and Distributions. Borrower will not, and it will not cause or permit any of its Subsidiaries to, declare or incur any liability to make any Distribution in respect of the capital stock of Borrower or the capital stock of such Subsidiary, as the case may be, except that (i) the Wholly-Owned Subsidiaries of Borrower shall be permitted to declare and pay cash dividends on their respective capital stock and (ii) so long as no Default or Event of Default under this Agreement has occurred and is continuing or is created thereby or would result therefrom, (A) Borrower shall be permitted to declare and pay cash dividends on its capital stock in an aggregate amount of up to $5,000,000.00 during each fiscal year of Borrower, (B) the Subsidiaries of Borrower (other than Wholly-Owned Subsidiaries of Borrower) shall be permitted to declare and pay cash dividends on their respective capital stock and (C) Borrower shall be permitted to redeem, repurchase or otherwise acquire shares of its capital stock so long as the aggregate consideration paid or committed to be paid by Borrower for all shares so redeemed, repurchased or otherwise acquired by Borrower during any fiscal year of Borrower does not exceed the sum of $250,000.00.
Stock Redemptions and Distributions. Borrower will not, and it will not cause or permit any of its Subsidiaries to, declare or incur any liability to make any Distribution in respect of the capital stock of Borrower, provided, however, that any Subsidiary may declare and pay any Distribution to Borrower, and provided further that Borrower may: (i) cause non-cash accretion to the liquidation value of the 14.25% Senior Exchangeable Preferred Stock Due 2007 in accordance with the terms thereof and may distribute its noncash payment-in-kind Distributions for accreted or accrued dividends on its 14.25% Senior Exchangeable Preferred Stock Due 2007 in accordance with the terms thereof to DLJMB, Chase Manhattan Investment Holdings, Inc., Summit/DPC Partners, L.P. and certain other investors, (ii) for periods after October 5, 2000 and provided no Default or Event of Default then exists hereunder, pay cash dividends on such 14.25% Senior Exchangeable Preferred Stock Due 2007 in accordance with the terms thereof, (iii) repurchase or redeem its outstanding 14.25% Senior Exchangeable Preferred Stock Due 2007 with a portion of the net proceeds of any equity offering as permitted under Section 5.4 herein or any equity offering by DPC Acquisition Corp., the proceeds of which are contributed to Borrower (provided such proceeds are applied to Borrower's Obligations and such 14.25% Senior Exchangeable Preferred Stock Due 2007 as set forth in Section 5.4 and in accordance with the provisions of such 14.25% Senior Exchangeable Preferred Stock Due 2007), (iv) redeem its outstanding 14.25% Senior Exchangeable Preferred Stock Due 2007 in exchange for preferred stock having similar terms, (v) distribute its 14.25% Subordinated Exchange Debentures due 2007 (having terms similar to those of the 14.25% Senior Exchangeable Preferred Stock Due 2007) in exchange for such 14.25% Senior Exchangeable Preferred Stock Due 2007, provided that all payments of principal, interest and other amounts due under such 14.25% Subordinated Exchange Debentures due 2007 are subordinated to Borrower's Obligations in a manner acceptable to Agent and the Banks, with no payments being made thereunder until the repayment in full of all of Borrower's Obligations and the termination of all commitments to lend hereunder, and (vi) pay dividends to DPC Acquisition Corp. annually for audit expenses, taxes payable currently and such other ordinary expenses consented to by Agent, which consent shall not be unreasonably withheld.
Stock Redemptions and Distributions. Borrower will not, and will not cause or permit any Subsidiary to, declare or incur any liability to make any Distribution in respect of the capital stock or other equity interest of Borrower or the capital stock or other equity interest of such Subsidiary, as the case may be, except that, so long as no Default or Event of Default has occurred and is continuing or would be created by or result from any such payment (i) each wholly-owned Subsidiary of Borrower shall be permitted to declare and pay cash dividends or distributions of other Property on its capital to its parent organization, and (ii) if Borrower has in effect an election to be taxed as a “Subchapter S Corporation,” such Borrower shall be permitted to make distributions to stockholders in an aggregate amount not to exceed 75% of the income of such Borrower and its consolidated Subsidiaries.
Stock Redemptions and Distributions. With respect to its capital stock, Borrower will not declare or make any dividend or other Distribution to its shareholders (excluding any stock split or stock dividend) unless, immediately after giving effect to the proposed Distribution, (i) no Default or Event of Default is existing or would occur as a result of such dividend or Distribution, and (ii) such proposed Distribution, if made for the repurchase of Borrower’s common stock after the date of this Agreement, shall not exceed Ten Million Dollars ($10,000,000.00) in the aggregate; provided, that, nothing in this Agreement shall be deemed to prohibit Borrower from redeeming Borrower’s common stock for tax withholding purposes in connection with Borrower’s 2000 stock option and incentive plan.”
Stock Redemptions and Distributions. Parent will ----------------------------------- not, directly or indirectly, make or declare or incur any liability to make any Distribution in respect of the capital stock of Parent, either in cash or property.
Stock Redemptions and Distributions. The Company will not, and it will not cause or permit any Subsidiary to, declare or incur any liability to make any Distribution in respect of the capital stock or other equity interests of the Company or the capital stock, membership interests or other equity interests of such Subsidiary, as the case may be, provided, however, that (i) each wholly-owned Subsidiary shall be permitted to declare and pay cash dividends or cash distributions on their respective capital stock, membership interests or other equity interests to the Company and/or another Subsidiary and (ii) so long as no Default or Event of Default has occurred and is continuing or would be created thereby or result therefrom, the Company shall be permitted to redeem shares of its common stock so long as the aggregate consideration paid or committed to be paid by the Company during any fiscal year of the Company for or in connection with all such redemptions does not exceed the sum of $2,000,000.00.”
Stock Redemptions and Distributions. The Company will not, and it will not cause or permit any Subsidiary to, declare or incur any liability to make any Distribution in respect of the capital stock or other equity interests of the Company or the capital stock or other equity interests of such Subsidiary, as the case may be, provided, however, that each wholly-owned Subsidiary shall be permitted to declare and pay cash dividends on their respective capital stock or other equity interests to the Company.
