Restrictions on Stock. No Material Subsidiary of the Borrower is subject to any Contractual Obligation restricting or limiting its ability to declare or make any dividend payment or other distribution on account of any shares of any class of its Stock or its ability to purchase, redeem, or otherwise acquire for value or make any payment in respect of, any such shares or any shareholder rights, except pursuant to a Loan Document or any Senior Loan Document.
Appears in 2 contracts
Sources: Subordinated Credit Agreement (National Steel Corp), Subordinated Credit Agreement (National Steel Corp)
Restrictions on Stock. No Material Subsidiary of the Borrower is subject to any Contractual Obligation restricting or limiting its ability to declare or make any dividend payment or other distribution on account of any shares of any class of its Stock or its ability to purchase, redeem, or otherwise acquire for value or make any payment in respect of, any such shares or any shareholder rights, except pursuant to a Loan Document or any Senior Loan Document.
Appears in 2 contracts
Sources: Credit Agreement (National Steel Corp), Credit Agreement (National Steel Corp)
Restrictions on Stock. No Material Subsidiary of the Borrower is subject to any Contractual Obligation incurred or assumed after the Petition Date restricting or limiting its ability to declare or make any dividend payment or other distribution on account of any shares of any class of its Stock or its ability to purchase, redeem, or otherwise acquire for value or make any payment in respect of, any such shares or any shareholder rights, except pursuant to a Loan Document or any Senior Loan Document.
Appears in 1 contract