Common use of Dividends and Other Payments Clause in Contracts

Dividends and Other Payments. Declare or make any dividend payment or other distribution of assets, properties, cash, rights, obligations or securities on account of any shares of any class of capital stock of the Company, or purchase, redeem or otherwise acquire for value (or permit any of its Subsidiaries to do so) any shares of any class of capital stock or any warrants, rights or options to acquire any such shares, now or hereafter outstanding, except that the Company may (i) declare and make any dividend payment or other distribution payable in common stock of the Company, (ii) purchase, redeem or otherwise acquire shares of its common stock or warrants, rights or options to acquire any such shares with the proceeds received from the substantially concurrent issue of new shares of its common stock and (iii) if the Secured Leverage Ratio is at the time of such dividend payment or other distribution less than 2.75:1.00, declare or make any dividend payment or other distribution in cash in an amount equal to the amount of any Excess Cash Flow used to make a mandatory prepayment pursuant to Section 2.08(b).