Common use of Certain Prohibitions Clause in Contracts

Certain Prohibitions. The Seller shall not permit the Company to -------------------- (a) issue any equity or debt security or any options or warrants, (b) enter into any subscriptions, agreements, plans or other commitments pursuant to which the Company is or may become obligated to issue any of its debt or equity securities, (c) otherwise change or modify its capital structure, (d) engage in any reorganization or similar transaction or sell or otherwise dispose of any of its assets, other than sales of inventory in the ordinary course of business, (e) declare or make payment of any dividend or other distribution in respect of its capital stock or redeem, repurchase or otherwise acquire any of its capital stock unless such dividend, redemption, repurchase or acquisition is reflected in the Closing Balance Sheet, or (f) agree to take any of the foregoing actions.

Appears in 1 contract

Sources: Stock Purchase Agreement (Sonic Automotive Inc)

Certain Prohibitions. The Seller Sellers shall not permit the Company to -------------------- (ai) issue any equity or debt security or any options or warrants, (bii) enter into any subscriptions, agreements, plans or other commitments pursuant to which the Company is or may become obligated to issue any of its debt or equity securities, (ciii) otherwise change or modify its capital structure, (div) engage in any reorganization or similar transaction or sell or otherwise dispose of any of its assets, other than sales of inventory in the ordinary course of business, (ev) declare or make payment of any dividend or other distribution in respect of its capital stock or redeem, repurchase or otherwise acquire any of its capital stock unless such dividend, redemption, repurchase or acquisition is reflected in the Closing Balance Sheetstock, or (fvi) agree to take any of the foregoing actions.

Appears in 1 contract

Sources: Stock Purchase Agreement (Sonic Automotive Inc)

Certain Prohibitions. The Seller shall not permit the Company Corporation to -------------------- (ai) issue any equity or debt security or any options or warrants, (bii) enter into any subscriptions, agreements, plans or other commitments pursuant to which the Company Corporation is or may become obligated to issue any of its debt or equity securities, (ciii) otherwise change or modify its capital structure, (div) engage in any reorganization or similar transaction or transaction, (v) sell or otherwise dispose of any of its assets, other than sales of inventory in the ordinary course of business, (evi) declare or make payment of any dividend or other distribution in respect of its capital stock or redeem, repurchase or otherwise acquire any of its capital stock unless such dividend, redemption, repurchase or acquisition is reflected in the Closing Balance Sheetstock, or (fvii) agree to take any of the foregoing actions.

Appears in 1 contract

Sources: Stock Purchase Agreement (Sonic Automotive Inc)