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Covenant Restricting Dividends and Other Payments on Stock Sample 2

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. This sample clause restricts a borrower and its subsidiaries from making or declaring any distribution.
Type: Contract Clauses
PLI Item #: 128786
Practice Area: Banking and finance, Corporate finance

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

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