Permitted Preferred Stock Dividend

Permitted Preferred Stock Dividend. A dividend in accordance with the Preferred Equity Documents so long as (a) no Event of Default has occurred and is continuing or would result therefrom, (b) on a pro forma basis, Borrowers and their Subsidiaries are projected to be in compliance with the Financial Covenants in Section 7 of the Agreement for the 12 month period ended one year after the proposed date of consummation of such proposed dividend, and (c) Availability is at least 12% of the Maximum Revolver Amount before and after... giving effect to such dividend. View More