Dividends, Purchase of Stock, Etc. During the continuance of any Default or Event of Default, or if such payment or distribution would result in a Default or Event of Default, Borrower shall not, and shall cause each Subsidiary to not, (a) declare or pay any dividend (except dividends payable in its capital stock) on any shares of any class of its capital stock or (b) apply any assets to the purchase, redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, any shares of any class of capital stock of Borrower.
Dividends, Purchase of Stock, Etc. Borrower shall not and shall cause each Subsidiary (other than a Wholly- Owned Subsidiary) to not (a) pay any dividend (except dividends payable in its capital stock) on any shares of any class of its capital stock, or (b) apply any assets to the purchase, redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, any shares of any class of capital stock of Borrower or such Subsidiary (each of the foregoing being a "Dividend Payment"), provided, however, that (y) Borrower or any Subsidiary may during any fiscal quarter, make any Dividend Payment, provided that after giving effect to such Dividend Payment the sum of all Restricted Payments made during such fiscal quarter, when taken together with all other Restricted Payments made after the date of this Agreement and prior to such fiscal quarter would not exceed twenty-five percent (25%) of Borrower's consolidated Net Income for the period commencing on the date of this Agreement and ending on the last day of the immediately preceding fiscal quarter; and (z) Borrower may make Dividend Payments to redeem any class of its corporate stock where the amount of such Dividend Payment is not more than the net proceeds received by Borrower from the concurrent issue of replacement shares of its capital stock. Nothing in this Section 7.1 is intended to limit the payments of interest or principal on convertible Subordinated Indebtedness prior to conversion and to the extent expressly provided for by the Majority Lenders in connection with the approval of any Subordinated Indebtedness, nothing in this Section 7.1 shall limit the payment with respect to or the deliveries of securities, cash or other property upon conversion of such convertible Subordinated Indebtedness.
Dividends, Purchase of Stock, Etc. Declare or pay any dividend on any shares of any class of its Stock or apply any assets to the purchase, redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, any shares of any class of Stock of Borrower or its Subsidiaries if a Default shall have occurred and be continuing or will occur as a result.
Dividends, Purchase of Stock, Etc. Borrower shall not, and shall cause each Subsidiary to not, (a) declare or pay any dividend (except dividends payable in capital stock) on any shares of any class of its capital stock or (b) apply any assets to the redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, shares of any class of capital stock of Borrower; provided, however, that Flow Autoclave Corporation, which is 50% owned by Borrower, is excluded from this restriction until the date on which Borrower owns more than 50% of such company; and provided further dividends from Foreign Subsidiaries to Borrower for the purposes of the payment to Lenders.
Dividends, Purchase of Stock, Etc. The Company shall not, and shall cause each Subsidiary to not, (a) declare or pay any dividend (except dividends payable in capital stock) on any shares of any class of its capital stock or (b) apply any assets to the redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, shares of any class of capital stock of the Company; provided, however, Flow Autoclave Corporation, which is 50% owned by the Company, is excluded from this restriction until the date on which the Company owns more than 50% of such company, and provided, further, dividends from Foreign Subsidiaries to the Company in connection with (x) the payment to the Senior Lenders referred to in Section 2.4 of the Senior Credit Agreement as in effect on the Third Amendment Effective Date and (y) the payment to the Noteholders pursuant to Section 9.14 are hereby excluded from this restriction.
Dividends, Purchase of Stock, Etc. Declare or pay any dividend (except dividends payable in its capital stock) on
Dividends, Purchase of Stock, Etc. Borrower shall not (a) declare or pay any dividend (except dividends payable in its capital stock or, pursuant to its Articles of Incorporation, in lift privileges) on any shares of any class of its capital stock, nor (b) apply any assets to the purchase, redemption or other retirement of, or set aside any sum for the payment of any
Dividends, Purchase of Stock, Etc. Upon the occurrence and during the continuation of a Default or an Event of Default, Borrower shall not (a) declare or pay any dividend (except dividends payable in its capital stock) on any shares of any class of its capital stock or (b) apply any assets to the purchase, redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, any shares of any class of capital stock of Borrower.
Dividends, Purchase of Stock, Etc. Borrower shall not, and shall cause each Subsidiary to not, (a) declare or pay any dividend (except dividends payable in capital stock) on any shares of any class of its capital stock or (b) apply any assets to the redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, shares of any class of capital stock of Borrower. Flow Autoclave Corporation, which is only 50% owned by Borrower, is excluded from this restriction until the date on which Borrower owns more than 50% of such company.
Dividends, Purchase of Stock, Etc. Borrower shall not, and shall not permit any Guarantor to, declare or pay any dividend (except dividends payable in its capital stock) on any shares of any class of its capital stock or apply any assets to the purchase, redemption or other retirement of, or set aside any sum for the payment of any dividends on or for the purchase, redemption or other retirement of, or make any other distribution by reduction of capital or otherwise in respect of, any shares of any class of capital stock of Borrower or any Guarantor.
