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Covenant Restricting Dividends and Other Payments on Stock Sample 1

Description: General business covenants place restrictions on corporate structure and business activities of an obligor. This sample clause restricts the borrower from payment of dividends and other payments and stock conversions.
Form Type: Contract Clauses
Practice Area: Corporate & Securities

Date: Nov 2014
PLI Item #: 128785
Keywords: "general business covenants"; "dividend restriction"; "payments on stock"; borrower; subsidiaries; "restricted payment"; "subordinated debt"
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