Common use of Dividends; Reclassifications; Etc Clause in Contracts

Dividends; Reclassifications; Etc. Except as set forth in Section 4.02(b) of TCFC’s Disclosure Schedule in the case of TCFC and Section 4.02(b) of SHBI’s Disclosure Schedule in the case of SHBI: (i) Make, declare, pay or set aside for payment any dividend on or in respect of, or declare or make any distribution on any shares of its capital stock, except (A) regular quarterly cash dividends of $0.175 per share of TCFC Common Stock, (B) regular quarterly cash dividends of $0.12 per share of SHBI Common Stock, or (C) dividends paid by any of the Subsidiaries of each of TCFC and SHBI to TCFC or SHBI or any of their wholly owned Subsidiaries; or (ii) Directly or indirectly adjust, split, combine, redeem, reclassify, purchase or otherwise acquire, any shares of its capital stock (other than the withholding of shares to satisfy withholding Tax obligations in respect of TCFC Equity Awards in the case of TCFC or SHBI Equity Awards in the case of SHBI outstanding as of the date of this Agreement in accordance with their terms and, as applicable, the TCFC Equity Plans in the case of TCFC or the SHBI Equity Plans in the case of SHBI as in effect on the date of this Agreement).

Appears in 2 contracts

Sources: Merger Agreement (Shore Bancshares Inc), Merger Agreement (Community Financial Corp /Md/)