RE: RE: RE: RE: RE: RE: No 30 days notice before t Yes, I copied Sectin 9.6a.
Yes, the title of the seciton is Limitation on Dividends, but the text of the section clearly says that they can't issue dividends or buy back any equity except under specific circumstances:
- they can exchange one type of shares for another type of shares as long as there is no disadvantage to the lenders (for example, they could convert Pref A to common)
- they can repurchase shares from officers, directors, and employees if they are required to do so by the terms of their contracts
- they can make acquisitions for less than $10 million
- they can pay dividends on their preferred shares
- they can pay the common share dividends that were already announced on Aug 4, 2011
The section means exactly what it says, even if the title of the section is a bit misleading. If this section only limited YLO's ability to pay dividends, large sections of it would be meaningless.