Stock of Borrower Clause Samples
The 'Stock of Borrower' clause defines how the borrower's ownership interests, such as shares or equity, are treated under the agreement. Typically, this clause outlines restrictions on transferring, pledging, or otherwise disposing of the borrower's stock during the term of the agreement, and may require the borrower to maintain a certain ownership structure or notify the lender of any changes. Its core function is to protect the lender by ensuring stability in the borrower's ownership and preventing actions that could affect the borrower's ability to fulfill its obligations.
Stock of Borrower. Borrower has sufficient shares of Stock authorized an available to make any Stock payments set forth in this Agreement. Borrower has taken all necessary corporate action to authorize any payments hereunder to be made with shares of Stock.
Stock of Borrower. More than 51% of the outstanding Common Voting Shares, par value $.01, of the Borrower are owned legally, beneficially and of record by the Trust or the beneficiaries thereof.
Stock of Borrower. Repurchase, or pay or declare any dividend on, any of its capital stock; provided, however, that if no Default Condition or Event of Default exists and Borrower remains in compliance with the financial covenants set forth in Section 6 above after giving effect thereto, it may pay dividends and make such repurchases.
Stock of Borrower. More than 51% of the outstanding Common Voting Shares, par value $.01, of the Borrower are owned directly or indirectly, beneficially and of record by signatories to the Scripps Family Agreement (other than the Borrower and The ▇.▇. ▇▇▇▇▇▇▇ Company).
Stock of Borrower. All of the issued and outstanding securities of Borrower are owned by the parties listed on the Disclosure Schedule in the amounts specified by the name of each such shareholder and except as listed on the Disclosure Schedule, Borrower has no outstanding options, warrants or contracts to issue additional securities of any kind.
Stock of Borrower. Except as listed on the Disclosure Schedule, Borrower has no outstanding options, warrants or contracts to issue additional securities of any kind.
Stock of Borrower. Except as listed on the Disclosure Schedule, Borrower, Guarantor and each Subsidiary have no outstanding options, warrants or contracts to issue additional securities of any kind.
Stock of Borrower. Repurchase, or pay or declare any dividend on, any of its capital stock; provided, however, that if no Default Condition or Event of Default exists and Borrower is an S Corporation, it may pay dividends not to exceed the amount of income taxes payable by its shareholders attributable to Borrower's income.
Stock of Borrower. Permit Borrower to issue any additional shares of its Capital Stock.
Stock of Borrower. After giving effect to the Spin-off, more than 51% of the outstanding Common Voting Shares, par value $.01, of the Borrower are owned legally, beneficially and of record by the Trust or the beneficiaries thereof.