Payment of Dividends and Distributions Clause Samples
The "Payment of Dividends and Distributions" clause defines how and when a company will distribute profits or other assets to its shareholders or members. It typically outlines the conditions under which dividends may be declared, the timing and method of payment, and any restrictions or priorities among different classes of shares. For example, it may specify that dividends are only paid out of available profits and in accordance with applicable laws. This clause ensures transparency and fairness in the allocation of company earnings, helping to prevent disputes among stakeholders regarding entitlement to distributions.
Payment of Dividends and Distributions. The Grantee shall be entitled to receive dividends and distributions which become payable on the Restricted Stock at the time such dividends and distributions are paid to other holders of Stock. Stock or other property distributed in connection with such a dividend or distribution shall be subject to restrictions and a risk of forfeiture to the same extent as such Restricted Stock.
Payment of Dividends and Distributions. Subject to contractual restrictions applicable to Subsidiaries of the Borrower that are in effect on the Closing Date or are contained in instruments of Permitted Indebtedness or the Governing Documents applicable to such Subsidiaries, the Borrower shall cause each of its Subsidiaries (other than Excluded Future Subsidiaries)
(i) to declare and pay cash dividends, partnership or similar distributions or similar forms of payment made on account of equity interests, as the case may be, so as to maximize the amount of cash distributable to the Borrower from time to time.
Payment of Dividends and Distributions. Borrower shall cause BHAC and other issuers of Specified Equity Interests pledged to Lender pursuant to one or more Pledge Agreements to declare and pay dividends and other distributions in the maximum amounts allowed, and as frequently as permitted, by Applicable Law such that such dividends and other distributions, shall be sufficient, in the aggregate, to make timely payment of accrued interest on, and regularly-scheduled principal installment payments in respect of, the Loan, together with fees, costs, expenses and other amounts required to be paid by the Loan Parties pursuant to the Loan Documents.
Payment of Dividends and Distributions. Great Lakes shall not declare or make any dividend or other distributions to any holder of any Common Stock or any other capital stock of Great Lakes, except for dividends declared or made in the form of common stock, par value $.01 per share, of Great Lakes (the “Common Stock”), redeem or purchase any Common Stock or any other capital stock of Great Lakes (other than the acceptance of shares in payment of the exercise or purchase price of equity-based compensation) or make any loan or other payments to any affiliate or holder of Common Stock or any other capital stock of Great Lakes.
Payment of Dividends and Distributions. Declare or pay any dividends upon its shares of stock or other equity interests now or hereafter outstanding or make any distribution of assets to its equityholders as such, whether in cash, property or securities, except: (a) dividends and other distributions payable by Subsidiaries to Borrower; and (b) such other dividends paid by Borrower as Borrower may elect to pay so long as there shall not exist, and such distribution shall not cause, an Event of Default or Default.
Payment of Dividends and Distributions. Subject to applicable Requirements of Law and to contractual restrictions applicable to the Borrower or to Subsidiaries of the Borrower that are in effect from time to time, the Borrower shall cause each of its Subsidiaries (i) to declare and pay cash dividends, partnership, limited liability company or similar distributions, or similar AMENDED AND RESTATED forms of payment made on account of equity interests, as the case may be, so as to maximize the amount of cash distributable to the Borrower from time to time.
Payment of Dividends and Distributions. 1. Upon receipt of properly-executed instructions from the Fund upon declaration of any dividend and/or distribution, compute and credit the accounts of all shareholders with the proper number of whole and fractional shares, computed as of the reinvestment date and price specified by the relevant resolution of the Fund's directors for such dividend or distribution.
2. Adjust the amount of dividend or distribution payments for accounts having unsettled investments or repurchases as of the record date with appropriate accounting adjustments to the Fund's distribution accounts and remittances to its custodian.
3. Reconcile dividends and distributions with the Fund.
Payment of Dividends and Distributions. Except as provided in Section 9, the Borrower or the applicable Subsidiary Guarantor shall be entitled to receive all dividends paid in respect of the Pledged Collateral (other than liquidating dividends). Any sums paid upon or in respect of any of the Pledged Collateral upon the liquidation or dissolution of any issuer of any of the Pledged Collateral, any distribution of capital made on or in respect of any of the Pledged Collateral or any property distributed upon or with respect to any of the Pledged Collateral pursuant to the recapitalization or reclassification of the capital of any issuer of Pledged Collateral or pursuant to the reorganization thereof shall, unless otherwise subject to a perfected security interest in favor of the Agent, be delivered to the Agent to be held by it hereunder as additional collateral security for the Secured Obligations. If any sums of money or property so paid or distributed in respect of any of the Pledged Collateral shall be received by the Borrower or such Subsidiary Guarantor as a result of a liquidation or dissolution of the Borrower or any such Subsidiary Guarantor, the Borrower or such Subsidiary Guarantor shall, until such money or property is paid or delivered to the Agent, hold such money or property in trust for the Agent, segregated from other funds of the Borrower and of such Subsidiary Guarantor, as additional security for the Obligations.
Payment of Dividends and Distributions. Sale and Redemption of Shares of the Fund.
Payment of Dividends and Distributions. Except as provided in Section 10, the Borrower or the applicable Subsidiary Guarantor shall be entitled to receive all cash dividends paid in respect of the Pledged Collateral (other than liquidating or distributing dividends) with respect to the Pledged Collateral. Any sums paid upon or in respect of any of the Pledged Collateral upon the liquidation or dissolution of any issuer of any of the Pledged Collateral, any distribution of capital made on or in respect of any of the Pledged Collateral or any property distributed upon or with respect to any of the Pledged Collateral pursuant to the