Dividend Restriction definition

Dividend Restriction means that the Issuer must not, without prior approval of a Special Resolution of Holders:

Dividend Restriction. ’ means that:

Dividend Restriction means that MBL must not: (i) determine, declare or pay any MBL Ordinary Share Dividend; or (ii) undertake any Buy-Back or Capital Reduction;

Examples of Dividend Restriction in a sentence

• During a Dividend Restriction Period, the Bank may not pay Dividends out of the amount of Quarterly Net Income required to be allocated to Restricted Retained Earnings.

• If the amount of the Bank’s Restricted Retained Earnings is at least equal to the amount of the Bank’s RREM, and subsequently the Bank’s Restricted Retained Earnings becomes less than its RREM, the Bank shall be deemed to be in a Dividend Restriction Period (unless an Allocation Termination Date has occurred).

• During any Dividend Restriction Period that occurs before the Termination Date, an FHLBank shall continue to allocate its Regular Contribution Percentage (or when, and if required under subsection II.B.4 below, its Special Contribution Percentage) to its Restricted Retained Earnings.

• During a Dividend Restriction Period, an FHLBank may pay Dividends on Class A Stock, Class B Stock, or Other FHLBank Stock only out of: (i) Retained Earnings that are not Restricted Retained Earnings, as required by this Agreement; or (ii) that portion of Quarterly Net Income not allocated to Restricted Retained Earnings pursuant to the terms of this Agreement and its amended Capital Plan, if applicable.

• During any Dividend Restriction Period that occurs before the Allocation Termination Date, the Bank shall continue to allocate its Regular Contribution Amount (or when and if required under Section X.2.b.iv.

• During any Dividend Restriction Period that occurs before the Allocation Termination Date, an FHLBank shall continue to allocate its Regular Contribution Amount (or when, and if required under subsection II.B.4 below, its Special Contribution Amount) to its Restricted Retained Earnings account.

• If during a Dividend Restriction Period, the amount of the Bank’s Restricted Retained Earnings decreases in any calendar quarter, except as provided in Sections X.2.b.iii.A. and X.2.b.iii.B.x. above, the Bank shall allocate the Special Contribution Amount to its Restricted Retained Earnings account beginning at the following calendar quarter-end (except as provided in the last sentence of this subsection).

• During the Dividend Restriction Period, the Company declares or pays any dividend or distribution of any kind to the holders of Common Stock of the Company.

• If during a Dividend Restriction Period, the amount of an FHLBank’s Restricted Retained Earnings decreases in any calendar quarter, except as provided in subsections II.B.3(i) and (ii)(a) above, the FHLBank shall allocate the Special Contribution Percentage to its Restricted Retained Earnings account beginning at the following calendar quarter-end (except as provided in the last sentence of this subsection).

• During a Dividend Restriction Period, an FHLBank (i) shall conduct any Redemption and Repurchase transaction, if otherwise permitted, only at par value; and (ii) shall not engage in a Repurchase or Redemption transaction if following such transaction the FHLBank’s Total Capital as reported to the FHFA falls below the FHLBank’s aggregate paid-in amount of capital stock.

More Definitions of Dividend Restriction

Dividend Restriction means that neither the Bank nor the Company may declare or pay a dividend (other than (i) payment by the Company of a final dividend declared by its shareholders prior to the Interest Payment Date on which the relevant Stopped Period commences, or (ii) a dividend (other than in respect of the Series 1 Sterling Preference Shares of £1 each) paid by the Bank to the Company or to another wholly-owned subsidiary) on any of their respective ordinary shares, preference shares or other share capital or satisfy any payments of interest or coupons on any other Junior Obligations.

Dividend Restriction means that no member of the Macquarie Group will, without the prior approval of an Extraordinary Resolution:

Dividend Restriction means that MBL and MGL must not, without prior approval of a Special Resolution of ECS Holders:

Dividend Restriction has the meaning set forth in Section 4(c).

Dividend Restriction means that neither the Issuer nor the Holding Company may (a) declare or pay a dividend (other than payment by the Holding Company of a final dividend declared by its shareholders prior to the Relevant Dividend Payment Date, or a dividend paid by the Issuer to the Holding Company or to another wholly-owned Subsidiary) on any of their respective ordinary shares, other preference shares or other share capital or (b) redeem, purchase, reduce or otherwise acquire any of their respective share capital, other than shares of the Issuer held by the Holding Company or a wholly-owned Subsidiary (or set aside any sum or establish any sinking fund for the redemption, purchase or other acquisition thereof), until the earlier of (1) the date on which the Issuer next declares and pays (or sets aside a sum to provide for payment of) in full a Preference Dividend and (2) the date on or by which all of the Series 1 Dollar Preference Shares are either redeemed in full or purchased by or for the account of the Issuer, in each case in accordance with the Articles and the terms of the Series 1 Dollar Preference Shares.

Dividend Restriction has the meaning set out in paragraph 2(vii) above.