Limitation on Dividends and Other Distributions. The Company will not declare or pay any dividends or make any distribution to holders of its Capital Stock (other than dividends or distributions payable in Capital Stock of the Company), or purchase, redeem or otherwise acquire or retire for value any of its Capital Stock or permit any Subsidiary to purchase, redeem or otherwise acquire or retire for value any of the Company's Capital Stock if at the time of any of the aforementioned actions an Event of Default has occurred and is continuing or would exist immediately after giving effect to such action. Notwithstanding the foregoing, the provisions of this Section 4.6 will not prevent (i) the payment of any dividend within 60 days after the date of declaration when the payment would have complied with the foregoing provisions on the date of declaration; or (ii) the retirement of any shares of the Company's Capital Stock by exchange for, or out of the proceeds of the substantially concurrent sale (other than to a Subsidiary) of, other shares of its Capital Stock.
Limitation on Dividends and Other Distributions. The Company will not declare or pay any dividends or make any distribution to holders of its Capital Stock (other than dividends or distributions payable in Capital Stock of the Company or other than as the Company determines is necessary to maintain its status as a "real estate investment trust"), or purchase, redeem or otherwise acquire or retire for value any of its Capital Stock or permit any Subsidiary to purchase, redeem or otherwise acquire or retire for value any of the Company's Capital Stock if at the time of such action an Event of Default has occurred and is continuing or would exist immediately after giving effect to such action. Notwithstanding the foregoing, the provisions of this Section 4.06 will not prevent (i) the payment of any dividend within 60 days after the date of declaration when the payment would have complied with the foregoing provisions on the date of declaration; or (ii) the retirement of any share of the Company's Capital Stock by exchange for, or out of the proceeds of the substantially concurrent sale (other than to a Subsidiary) of, other shares of its Capital Stock.
Limitation on Dividends and Other Distributions. The Company will not declare or pay any dividends or make any distribution to holders of its capital stock (other than dividends or distributions payable in capital stock of the Company), or purchase, redeem or otherwise acquire or retire for value any of its capital stock or permit any Subsidiary to purchase, redeem or otherwise acquire or retire for value any of the Company's capital stock if at the time of such action an Event of Default has occurred and is continuing or would exist immediately after giving effect to such action.
Limitation on Dividends and Other Distributions. The Company will not declare or pay any dividends or make any distribution to holders of its Capital Stock (other than dividends or distributions payable in Capital Stock of the Company), or purchase, redeem or otherwise acquire or retire for value any of its Capital Stock or permit any Subsidiary to purchase, redeem or otherwise acquire or retire for value any of the Company's Capital Stock if at the time of any of the aforementioned actions an Event of Default has occurred and is continuing or would exist immediately after giving effect to such action. Notwithstanding the foregoing, the provisions of this Section 4.6 will not prevent the payment of any dividend within 60 days after the date of declaration when the payment would have complied with the foregoing provisions on the date of declaration.
Limitation on Dividends and Other Distributions. The Company shall not declare or pay any dividend or make any distribution on or in respect of any of its capital stock or to its stockholders (other than dividends or distributions payable solely in its capital stock) or purchase, redeem or otherwise acquire or retire for value any capital stock or any warrants, rights or options (including any securities convertible into or exercisable or exchangeable for such capital stock, but not including the Securities or the Warrants) of the Company or any Subsidiary, provided, however, that unless a default or an Event of Default has occurred and is continuing, such provisions shall not prevent (i) the retirement of any shares of the Company's capital stock by exchange for, or out of the proceeds of, the substantially concurrent sale of other shares of its capital stock, (ii) the purchase, redemption, retirement or other acquisition for value, at any time, of the Common Stock using $25.0 million in cash and up to 650,000 shares of Common Stock using shares of common stock of World Airways, $.001 par value per share, of which the Company is the owner or (iii) any prepayment of the Securities pursuant to the terms thereof; provided, further, that such provisions shall not prevent the payment of any dividend within 60 days after the date of declaration thereof, if at said date of declaration such payment complied with the provisions of this limitation on dividends. The Company shall also be able to repurchase, redeem, retire or otherwise acquire for value up to $5.0 million of additional shares of Common Stock for every $15.0 million increase in Asset Value at such time compared to the Asset Value as of September 12, 1996.
Limitation on Dividends and Other Distributions. Grantor shall not declare or pay any dividend, repurchase or redeem any shares of capital stock, or make any other "distribution to its shareholders" (as such term is defined in Section 166 of the California Corporations Code) without the prior written consent of Secured Party.
Limitation on Dividends and Other Distributions. The Company will not declare or pay any dividends or make any distribution to holders of its Capital Stock (other than dividends or distributions payable in Capital Stock of the Company), or purchase, redeem or otherwise acquire or retire for value any of its Capital Stock or any warrants, rights or options to purchase or acquire Capital Stock (other than the Securities or any other convertible indebtedness of the Company that is neither secured nor subordinated to the Securities) or permit any Subsidiary to purchase, redeem or otherwise acquire or retire for value any of the Company's Capital Stock or any such warrants, rights or options if at the time of any of the aforementioned actions an Event of Default has occurred and is continuing or would exist immediately after giving effect to such action. Notwithstanding the foregoing, the provisions of this Section 4.6 will not prevent (i) the payment of any dividend within 60 days after the date of declaration when the payment would have complied with the foregoing provisions on the date of declaration; or (ii) the retirement of any shares of the Company's Capital Stock by exchange for, or out of the proceeds of the substantially concurrent sale (other than to a Subsidiary) of, other shares of its Capital Stock.
Limitation on Dividends and Other Distributions. Notwithstanding the foregoing, the provisions of this Section 4.6 will not prevent (i) the payment of any dividend or distribution necessary to maintain the REIT's status as a real estate investment trust under the Code; (ii) the payment of any dividend within 60 days after the date of declaration when the payment would have complied with the foregoing provisions on the date of declaration; or (iii) the retirement of any share of the Capital Stock of the Issuer, the General Partner or the REIT by exchange for, or out of the proceeds of the substantially concurrent sale (other than to a Subsidiary) of, other shares of such Capital Stock.
Limitation on Dividends and Other Distributions. Article Ten of the Indenture is hereby amended by adding thereto the following:
Limitation on Dividends and Other Distributions. The Company will not (i) declare or pay any dividend of make any distribution on its shares of Common Shares or to holders of Common Shares (other than dividends or distributions payable in Common Shares or other than as the Company determines in good faith is necessary to maintain its qualification as a real estate investment trust under the Code) or (ii) purchase, redeem or otherwise acquire or retire for value any of its Common Shares, if at the time of such action an Event of Default has occurred and is continuing or would exist immediately after such action. Notwithstanding the foregoing, the provisions of this Section 1010 will not prevent (i) the payment of any dividend within 60 days after the date of declaration when the payment would have complied with the foregoing provision on the date of declaration, or (ii) the Company's retirement of any of its Common Shares by exchange for, or out of the proceeds of the substantially concurrent sale of, other Common Shares.
