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Covenant Restricting Dividends and Other Payments on Stock Sample 1

Book Publication Date: Nov 2014
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.
Type: Contract Clauses
PLI Item #: 128785
Practice Area: Banking and finance, Corporate finance

Keywords: "general business covenants"; "dividend restriction"; "payments on stock"; borrower; subsidiaries; "restricted payment"; "subordinated debt"

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