RETIREMENT OF STOCK. The Company will not, nor will it permit any of its Subsidiaries to, acquire or retire any shares of its capital stock except for value.
RETIREMENT OF STOCK. Borrower shall not redeem or retire, or permit any of its Subsidiaries to redeem or retire, any share of its capital stock.
RETIREMENT OF STOCK. Without consent of Bank, until September 30, 1997, Borrower will not acquire, redeem, purchase, or retire more than Five Million dollars ($5,000,000) of its capital stock for value whether now or hereafter outstanding; or grant or issue any equity or security or any warrant, right or option pertaining thereto except as set forth in Section 3.13 and as approved by Bank in writing. From October 1, 1997, without consent of Bank, Borrower will not acquire, redeem, purchase, or retire any share of its capital stock for value whether now or hereafter outstanding; or grant or issue any equity or security or warrant, right, or option pertaining thereto except as set forth in Section 3.13 and as approved by Bank in writing.
RETIREMENT OF STOCK. In the event of a net loss after taxes for any fiscal quarter or fiscal year, the cumulative tangible net worth requirement shall not be decreased by the amount of the loss. "Tangible Net Worth" shall mean net worth increased by indebtedness of Borrower subordinated to Bank and decreased by patents, licenses, trademarks, trade names, goodwill and other similar intangible assets, organizational expenses, and monies due from affiliates (including officers, shareholders and directors).
RETIREMENT OF STOCK. Borrower may repurchase its shares of common stock, up to an aggregate maximum of Five Hundred Thousand (500,000) shares, provided Borrower is not in breach of its liquidity and leverage covenants at the time of the repurchase or after the repurchase.
RETIREMENT OF STOCK. Borrower will not acquire or retire any share of its capital stock for value except as provided for in that certain Stock Purchase Agreement which is attached hereto as Exhibit A of this Agreement.
RETIREMENT OF STOCK. Borrowers will not and shall cause Guarantor to not acquire or retire any share of its capital stock for value except as such action is approved by Guarantor’s board of directors and is disclosed to Bank prior to the execution of such action.
RETIREMENT OF STOCK. Acquire or retire any share of its capital stock for value.
RETIREMENT OF STOCK. Borrower may not acquire or retire any share of its capital stock for value: a) if such transaction would cause the ratio of EBITDA, less dividends, to Debt Service (as defined in Subsection 4.10) to be less than or equal to 1.25:1.0, as measured as of the end of each fiscal quarter on a rolling four-quarter basis; b) if an Event of Default has occured and is continuing at the time of the proposed transaction; or c) if such transaction would cause any Event of Default.
