Voluntary Restrictions to Dividend Payment Sample Clauses

Voluntary Restrictions to Dividend Payment. Every year in which BP resolves not to declare or pay Dividends, or to declare or pay Dividends calculated on a lower basis than the one established in paragraph (a) above, Minority Shareholders shall have the right to: (i) have the Majority Shareholder pay the Minority Shareholders, after exercise of the Options and together with payment thereof, the amount of Dividends, or any relevant difference of Dividends, translated into United States dollars at the benchmark exchange rate published by the Central Bank (or at any other applicable exchange rate), prevailing on the date on which BP's financial statements as of the previous financial year were approved, or , alternatively, (ii) make early exercise of their respective Put Options. In such a case, the payment established in (i) above shall not be added to the Options strike price.