Common use of Limitations on Dividends; Etc Clause in Contracts

Limitations on Dividends; Etc. If Securities are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by such Trust and (i) there shall have occurred a Default or an Event of Default, (ii) the Company shall be in default under the Preferred Securities Guarantee, or (iii) the Company has given notice of its election, pursuant to Section 2.12, to defer payments of interest on the Securities and the period of such deferral is continuing, then the Company shall not (a) declare or pay any dividend on, make any distribution or other payment with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (i) repurchases, redemptions or other acquisitions of shares of capital stock in connection with the satisfaction by the Company of its obligations under any employee benefit plans, (ii) as a result of an exchange or conversion of one class or series of the Company’s capital stock for another class or series of the Company’s capital stock, (iii) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such Company capital stock or the security being converted or exchanged, (iv) any declaration of a dividend in connection with any shareholders’ rights plan or the redemption or repurchase of rights pursuant thereto or (v) any dividend or distribution in the form of capital stock or rights to acquire capital stock where the rights of the capital stock being issued, or issuable pursuant to such rights, rank pari passu or junior to the capital stock as to which such dividend or distribution is paid), (b) make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company that rank pari passu with or junior to the Securities or (c) make any guarantee payments with respect to the foregoing (other than pursuant to the Preferred Securities Guarantee).

Limitations on Dividends; Etc. If Securities are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by such Trust and (i) there shall have occurred a Default or an Event of Default, (ii) the Company shall be in default under the Preferred Securities Guarantee, Guarantee or (iii) the Company has given notice of its election, pursuant to Section 2.12, to defer payments of interest on the Securities and the period of such deferral is continuing, then the Company shall not (a) declare or pay any dividend on, make any distribution or other payment with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (i) repurchases, redemptions or other acquisitions of shares of capital stock in connection with the satisfaction by the Company of its obligations under any employee benefit plans, (ii) as a result of an exchange or conversion of one class or series of the Company’s 's capital stock for another class or series of the Company’s 's capital stock, (iii) the purchase of fractional interests in shares of the Company’s 's capital stock pursuant to the conversion or exchange provisions of such Company capital stock or the security being converted or exchanged, (iv) any declaration of a dividend in connection with any shareholders’ ' rights plan or the redemption or repurchase of rights pursuant thereto or (v) any dividend or distribution in the form of capital stock or rights to acquire capital stock where the rights of the capital stock being issued, or issuable pursuant to such rights, rank pari passu or junior to the capital stock as to which such dividend or distribution is paid), (b) make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company that rank pari passu with or junior to the Securities or (c) make any guarantee payments with respect to the foregoing (other than pursuant to the Preferred Securities Guarantee).

Limitations on Dividends; Etc. If Securities are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by such Trust and (i) there shall have occurred a Default or an Event of Default, (ii) the Company shall be in default under the Preferred Securities Guarantee, or (iii) the Company has given notice of its election, pursuant to Section 2.12, to defer payments of interest on the Securities and the period of such deferral is continuing, then the Company shall not (a) declare or pay any dividend on, make any distribution or other payment with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock or make any guarantee payment with respect thereto (other than (i) repurchases, redemptions or other acquisitions of shares of capital stock in connection with the satisfaction by the Company of its obligations under any employee benefit plans, (ii) as a result of an exchange or conversion of one class or series of the Company’s 's capital stock for another class or series of the Company’s 's capital stock, (iii) the purchase of fractional interests in shares of the Company’s 's capital stock pursuant to the conversion or exchange provisions of such Company capital stock or the security being converted or exchanged, (iv) any declaration of a dividend in connection with any shareholders’ ' rights plan or the redemption or repurchase of rights pursuant thereto or (v) any dividend or distribution in the form of capital stock or rights to acquire capital stock where the rights of the capital stock being issued, or issuable pursuant to such rights, rank pari passu or junior to the capital stock as to which such dividend or distribution is paid), (b) make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company that rank pari passu with or junior to the Securities or Securities; and (c) make any guarantee payments with respect to the foregoing (other than pursuant to the Preferred Securities Guarantee).

Limitations on Dividends; Etc. If Securities are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by such Trust and (i) there shall have occurred a Default or an Event of Default, (ii) the Company shall be in default under the Preferred Securities Guarantee, or (iii) the Company has given notice of its election, pursuant to Section 2.12, to defer payments of interest on the Securities and the period of such deferral is continuing, then the Company shall not (a) declare or pay any dividend on, make any distribution or other payment with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock partnership interests (other than (i) repurchases, redemptions or other acquisitions of shares of capital stock partnership interests in connection with the satisfaction by the Company of its obligations under any employee benefit plans, (ii) as a result of an exchange or conversion of one class or series of the Company’s capital stock partnership interests for another class or series of the Company’s capital stockpartnership interests, (iii) the purchase of fractional interests in shares of the Company’s capital stock partnership interests pursuant to the conversion or exchange provisions of such Company capital stock partnership interests or the security being converted or exchanged, (iv) any declaration of a dividend in connection with any shareholderspartners’ rights plan or the redemption or repurchase of rights pursuant thereto or (v) any dividend or distribution in the form of capital stock partnership interests or rights to acquire capital stock partnership interests where the rights of the capital stock partnership interests being issued, or issuable pursuant to such rights, rank pari passu or junior to the capital stock partnership interests as to which such dividend or distribution is paid), (b) make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company that rank pari passu with or junior to the Securities or (c) make any guarantee payments with respect to the foregoing (other than pursuant to the Preferred Securities Guarantee).

Limitations on Dividends; Etc. If Securities are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by such Trust and (i) there shall have occurred a Default or an Event of Default, (ii) the Company shall be in default under the Preferred Securities Guaranteeor if there is a failure to make a payment of principal, premium, if any, or (iii) the Company has given notice interest as a result of its election, pursuant to Section 2.12, to defer payments of interest on the Securities and the period of such deferral is continuinga Payment Restriction, then the Company shall not (a) declare or pay any dividend on, make any distribution or other payment with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock or make any guarantee payment with respect thereto (other than (i) repurchases, redemptions or other acquisitions of shares of capital stock in connection with the satisfaction by the Company of its obligations under any employee benefit plans, (ii) as a result of an exchange or conversion of one class or series of the Company’s capital stock for another class or series of the Company’s capital stock, (iii) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such Company capital stock or the security being converted or exchanged, (iv) any declaration of a dividend in connection with any shareholders’ rights plan or the redemption or repurchase of rights pursuant thereto thereto, or (v) any dividend or distribution in the form of capital stock or rights to acquire capital stock where the rights of the capital stock being issued, or issuable pursuant to such rights, rank pari passu or junior to the capital stock as to which such dividend or distribution is paid), or (b) make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company that rank pari passu with or junior to the Securities or (c) make any guarantee payments with respect to the foregoing (Surplus Notes, in each case, other than pursuant to the Preferred Securities Guarantee)as may be required under Applicable Insurance Laws.