Common use of Acquisition of Intra-Group Liabilities Clause in Contracts

Acquisition of Intra-Group Liabilities. (a) Subject to paragraph (b) below, each Debtor may, and may permit any other member of the Group to: (i) enter into any Liabilities Acquisition; or (ii) beneficially own all or any part of the share capital of a company that is party to a Liabilities Acquisition, in respect of any Intra-Group Liabilities at any time. (b) Subject to paragraph (c) below, no action described in paragraph (a) above may take place in respect of any Intra-Group Liabilities if: (i) that action would result in a breach of any of the Finance Documents; (ii) that action is between a Debtor and a member of the Group which is not a Debtor and at the time of that action, an Event of Default has occurred and is continuing under any of the Debt Documents; or (iii) that action is between a Debtor and another Debtor and at the time of that action, an Acceleration Event or Insolvency Event has occurred under any of the Debt Documents. (c) The restrictions in paragraph (b) above shall not apply if: (i) prior to the Senior Discharge Date the Majority Senior Creditors consent to that action; or (ii) that action is taken to facilitate Payment of the Senior Liabilities.

Acquisition of Intra-Group Liabilities. (a) Subject to paragraph (b) below, each Debtor may, and may permit any other member of the Group to: (i) enter into any Liabilities Acquisition; or (ii) beneficially own all or any part of the share capital of a company that is party to a Liabilities Acquisition, in respect of any Intra-Group Liabilities at any time. (b) Subject to paragraph (c) below, no action described in paragraph (a) above may take place in respect of any Intra-Group Liabilities if: (i) that action would result in a breach of any of the Finance Documents;Revolving Facility Agreement or a Senior Secured Indenture; or (ii) that action is between a Debtor and a member of the Group which is not a Debtor and at the time of that action, an Event of Default has occurred and is continuing under any of the Debt Documents; or (iii) that action is between a Debtor and another Debtor and at the time of that action, an Acceleration Event or Insolvency Event has occurred under any of the Debt Documentsoccurred. (c) The restrictions in paragraph (b) above shall not apply if: (i) prior to the Senior Discharge Date Date, the Majority Senior Creditors consent to that action; or (ii) that action is taken to facilitate Payment of the Senior Liabilities or the Non Priority Hedging Liabilities.

Acquisition of Intra-Group Liabilities. (a) Subject to paragraph (b) below, each Debtor may, and may permit any other member of the Group to: (i) enter into any Liabilities Acquisition; or (ii) beneficially own all or any part of the share capital of a company that is party to a Liabilities Acquisition, in respect of any Intra-Group Liabilities at any time. (b) Subject to paragraph (c) below, no action described in paragraph (a) above may take place in respect of any Intra-Group Liabilities if: (i) that action would result in a breach of any of the Finance Documents;Revolving Facility Agreement or a Senior Secured Notes Indenture; or (ii) that action is between a Debtor and a member of the Group which is not a Debtor and at the time of that action, an Event of Default has occurred and is continuing under any of the Debt Documents; or (iii) that action is between a Debtor and another Debtor and at the time of that action, an Acceleration Event or Insolvency Event has occurred under any of the Debt Documentsoccurred. (c) The restrictions in paragraph (b) above shall not apply if: (i) prior to the Senior Discharge Date Date, the Majority Senior Creditors consent to that action; or (ii) that action is taken to facilitate Payment of the Senior Liabilities or the Non Priority Hedging Liabilities.