No Distributions on Common Shares if Event of Default Sample Clauses

No Distributions on Common Shares if Event of Default. The Corporation shall not declare or make any distribution to the holders of its issued and outstanding Common Shares or make any repurchase of Common Shares after the occurrence of an Event of Default unless and until such default shall has been cured or waived or shall have ceased to exist.
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No Distributions on Common Shares if Event of Default. The Corporation shall not declare or make any distribution to the holders of its issued and outstanding Common Shares after the occurrence of a default or an Event of Default unless and until such default shall have been cured or waived or shall have ceased to exist. In addition, the Corporation shall not declare any distribution to the holders of its issued and outstanding Common Shares if at the time the directors of the Corporation or a committee thereof resolves to make the said declaration, the Corporation has actual knowledge that the paying of said distribution on the applicable distribution payment date will result in a default or an Event of Default.
Sample 1Sample 2
No Distributions on Common Shares if Event of Default. The Company shall not declare or make any distribution to Shareholders after the occurrence of an Event of Default unless and until such default shall have been cured or waived or shall have ceased to exist. In addition, the Company shall not declare any distribution to Shareholders if at the time the Directors of the Company or a committee thereof resolves to make the said declaration, the Company has actual knowledge that the paying of said distribution on the applicable distribution payment date will result in an Event of Default.
Sample 1

Related to No Distributions on Common Shares if Event of Default

  • Liquidity Events of Default If (a) any Liquidity Event of Default has occurred and is continuing and (b) there is a Performing Note Deficiency, the Liquidity Provider may, in its discretion, deliver to the Borrower a Termination Notice, the effect of which shall be to cause (i) the obligation of the Liquidity Provider to make Advances hereunder to expire on the fifth Business Day after the date on which such Termination Notice is received by the Borrower, (ii) the Borrower to promptly request, and the Liquidity Provider to promptly make, a Final Advance in accordance with Section 2.02(d) hereof and Section 3.6(i) of the Intercreditor Agreement, (iii) all other outstanding Advances to be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iv) subject to Sections 2.07 and 2.09 hereof, all Advances (including, without limitation, any Provider Advance and Applied Provider Advance), any accrued interest thereon and any other amounts outstanding hereunder to become immediately due and payable to the Liquidity Provider.

  • Acceleration Events Each of the following events shall constitute an “Acceleration Event”:

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