Equity Restriction Sample Clauses

Equity Restriction. The Company shall not: (a) directly or indirectly make, or permit any of its Subsidiaries to make, any purchase of any Capital Stock, or directly or indirectly redeem, purchase or make, or permit any of its Subsidiaries to redeem, purchase or make, any payments with respect to any stock appreciation rights, phantom stock plans or similar rights or plans; provided, however, that the Company may redeem shares of its Capital Stock from M▇▇▇▇▇▇ and S▇▇▇▇▇ so long as such redemptions do not reduce the number of shares of Capital Stock held by the Permitted Holders below thirty-seven percent (37%) of the issued and outstanding voting Shares of the Capital Stock or other equity interests of the Company at any time or the voting power to elect a majority of the Company’s board of directors, including, without limitation, as the result of the exercise by one or more secured parties of one or more security interests in respect of any ownership interest in the Company; and (b) authorize, issue or enter into any agreement providing for the issuance (contingent or otherwise) of any notes or debt securities containing equity features (including, without limitation, any notes or debt securities convertible into or exchangeable for Capital Stock or other equity securities issued in connection with the issuance of Capital Stock, or other equity securities or containing profit participation features) at a price at issuance which is lower than the then current market price of the Company’s Capital Stock except as otherwise expressly contemplated by this Agreement.