Common use of Stock Redemptions and Distributions Clause in Contracts

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. Borrower will not, and it will not cause or permit any Subsidiary to, declare or incur any liability to make any DistributionsDistributions except with respect to the 2015 Stock Repurchase; 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 shares1,500,000 shares (separate and apart from the 2015 Stock Repurchase).

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 DistributionsDistributions except with respect to the 2015 Stock Repurchase; 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 sharesshares (separate and apart from the 2015 Stock Repurchase).

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.”