Dividends and Stock Repurchases. The Borrower shall not declare or pay any dividend on its capital stock (except for dividends in the form of capital stock), or redeem or repurchase any of its capital stock, if a Default or Event of Default shall have occurred and be continuing or shall exist at such time or after giving effect to such transaction.
Dividends and Stock Repurchases. 50 SECTION 6.07 Transactions with Affiliates.............................................50 SECTION 6.08 Change of Business.......................................................50 SECTION 6.09 Equal and Ratable Lien; Grant of Security Interest in Certain Events.....51 SECTION 6.10
Dividends and Stock Repurchases. Not to declare or pay any dividends on any of its shares, and not to purchase, redeem or otherwise acquire for value any of its shares, or create any sinking fund in relation thereto, except:
Dividends and Stock Repurchases. The Borrower will not, nor will it permit any Subsidiary to, declare or pay any dividends or make any distributions on its capital stock (other than dividends payable in its own capital stock) or redeem, repurchase or otherwise acquire or retire any of its capital stock or any options or other rights in respect thereof at any time outstanding, except that (a) any Subsidiary may declare and pay dividends or make distributions to the Borrower or to a Wholly-Owned Subsidiary of the Borrower and (b) the Borrower may repurchase capital stock in an aggregate amount not to exceed 5% of Consolidated Net Worth of the Borrower and its Consolidated Subsidiaries in any Fiscal Year ending prior to the Revolving Credit Termination Date and Letter of Credit Availability Termination Date and may pay dividends in an aggregate amount not to exceed $10,000,000 in any Fiscal Year ending prior to the Revolving Credit Termination Date and Letter of Credit Availability Termination Date; provided, however, that the Borrower may not repurchase any capital stock or pay any dividends unless after giving effect thereto Borrower would be in pro forma compliance with the terms of this Agreement.
Dividends and Stock Repurchases. The Borrower will not, nor will it permit any Subsidiary to, declare or pay any dividends or make any distributions on its capital stock (other than dividends payable in its own capital stock) or redeem, repurchase or otherwise acquire or retire any of its capital stock or any options or other rights in respect thereof at any time outstanding, except that (a) any Subsidiary may declare and pay dividends or make distributions to the Borrower or to a Wholly-Owned Subsidiary of the Borrower and (b) the Borrower may repurchase capital stock and may pay dividends provided after giving effect thereto (i) Borrower would be in pro forma compliance with the terms of this Agreement and (ii) no Default shall have occurred.
Dividends and Stock Repurchases. The Company will not declare or pay any dividends (other than dividends payable solely in stock of the Company) on any class of its stock or make any payment on account of the purchase, redemption or other retirement of any shares of such stock or make any distribution in respect thereof, either directly or indirectly. If the Company becomes an S Corporation (with your consent and after first providing such supporting documentation as you may request) the Company may pay dividends equal to the amount of state and federal income tax which would be due for each shareholder with respect to income allocated to each shareholder as a result of the Company's status as an S Corporation at the highest marginal income tax rate for federal and state income tax purposes (after taking into account any deduction for state income taxes in calculating the federal income tax liability and for the state or states in which each shareholder is liable for income taxes).
Dividends and Stock Repurchases. 1. Did the Borrower declare or pay cash dividends to its stockholders or purchase, redeem or otherwise acquire shares of its capital stock or warrants, rights or options to acquire any such shares for cash after August 31, 1998 Yes / No
Dividends and Stock Repurchases. The Borrower shall not declare or pay any dividend on its capital stock (except for dividends in the form of capital stock), or redeem or repurchase any of its capital stock, if a Default or Event of Default shall have occurred and be continuing or shall exist at such time or after giving effect to such transaction; provided, however, that the Borrower may at any time during -------- ------- the continuance of a Default or an Event of Default pay cash dividends to, or redeem or repurchase for cash any of its capital stock from, Sierra Pacific Resources, but only if and to the extent that Sierra Pacific Resources immediately applies such cash to the payment of the Obligations (as such term is defined in the SPR Credit Agreement).
Dividends and Stock Repurchases. Section 6.06 is hereby amended in its entirety to read as follows:
Dividends and Stock Repurchases. The Company will not declare or pay any dividends (other than dividends payable solely in stock of the Company) on any class of its stock or make any payment on account of the purchase, redemption or other retirement of any shares of such stock or make any distribution in respect thereof, either directly or indirectly; provided, however, that if the Company is an S Corporation within the meaning of the Internal Revenue Code of 1986, as amended, or shall become such an S Corporation with your consent, and after first providing such supporting documentation as you may request, the Company may pay dividends in an amount equal to the amount of state and federal income tax which would be due by each shareholder with respect to income deemed to be received by each shareholder from the Company as a result of the Company's status as an S Corporation at the highest marginal income tax rate for federal and state (for the state or states in which each shareholder is liable for income taxes with respect to such income) income tax purposes, after taking into account any deduction for state income taxes in calculating the federal income tax liability.
