Borrower may pay or make Restricted Payments to Parent (and Parent may make Restricted Payments to its shareholders) in an amount not in excess of $42,000,000 in
the aggregate during the term of this Agreement with respect to dividend catch-up payments on Parent’s Preferred Stock, so long as, at the time of any such payments, no Event of Default
shall have occurred and be continuing;
Sure looks that way but at the very least we know exactly when they will have no choice but to pay the preferred . I still believe that they will pay the preferred off by years end and wont wait till the last min.