Amendment Upon Extinguishment of Certain Indebtedness Sample Clauses

Amendment Upon Extinguishment of Certain Indebtedness. In the event that, at any time prior to the Maturity Date, no Indebtedness remains outstanding under the Indentures and no Other Parent Debt remains outstanding, and Borrower has knowledge that no such Indebtedness remains outstanding (which knowledge may be obtained by notice from any Lender), then Borrower shall at that time immediately request each of its applicable Affiliates, if any, to take any action necessary to terminate the effectiveness of the Indentures and Other Parent Debt (other than surviving rights of registration of transfer or exchange of notes expressly provided in or pursuant to the Indentures and other than contingent indemnification obligations), including obtaining and delivering any required notices, certificates and legal opinions. In the event that, after such time as all such Indebtedness and Other Parent Debt shall no longer remain outstanding and neither the Indentures nor any agreement or document governing Other Parent Debt remains in effect, Borrower and the Agent, on behalf of the Lenders, each agree to cause the Loan Documents to be amended, effective no later than thirty (30) days after all of the Indentures and agreements or documents governing the Other Parent Debt no longer remain in effect, in order to remove all of the restrictions contained in the Loan Documents related to the requirement contained in the Indentures and the Other Parent Debt that the Loan Documents not impose any encumbrance or restriction of any kind on the ability of the Borrower, the Ultimate Parent or any Restricted Subsidiary to (i) pay dividends or make any other distributions permitted by applicable law on its Capital Stock, (ii) pay any indebtedness owed to the Ultimate Parent or any Restricted Subsidiary, (iii) make loans or advances to the Ultimate Parent or any Restricted Subsidiary, or (iv) transfer to the Ultimate Parent or to any Restricted Subsidiary any of its property or assets that do not secure the Loan, and, prior to effectiveness of the amendments, Borrower shall deliver to the Agent an opinion of legal counsel in Canada, reasonably acceptable to the Agent, to the effect that the Lenders will not recognize income gain or loss for Canadian tax purposes as a result of such amendments and will be subject to Canadian tax on the same amounts, in the same manner, and at the same times as would have been the case if such amendments had not been made, and if the Borrower, acting in a commercially reasonable manner, cannot obtain such a...
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Related to Amendment Upon Extinguishment of Certain Indebtedness

  • Subordination of Certain Indebtedness Cause any indebtedness of Borrower for borrowed money to any shareholder, director, officer or Affiliate of Borrower, which indebtedness has a term of more than 1 year or is in excess of $25,000, to be subordinated to the Obligations by the execution and delivery to Lender of a Subordination of Debt Agreement, on the form prescribed by Lender, certified by the corporate secretary of Borrower to be true and complete and in full force and effect.

  • RELEASE FROM GUARANTEES; REPAYMENT OF CERTAIN OBLIGATIONS TCI shall use reasonable efforts, including offering its own guarantee, to have the Stockholders released from any and all guarantees of the Company's indebtedness identified on Schedule 10.1. In the event that TCI cannot obtain such releases from the lenders of any such guaranteed indebtedness identified on Schedule 10.1 on or prior to 60 days subsequent to the Funding and Consummation Date, TCI shall promptly pay off or otherwise refinance or retire such indebtedness. TCI shall indemnify the Stockholders against, and shall promptly reimburse the Stockholders for, any amounts which the Stockholders are obligated to pay under any such guarantees listed on Schedule 10.1, and shall be subrogated to any rights of the Stockholders accruing as a result of any such payments by the Stockholders.

  • Prepayments of Certain Indebtedness The Borrower shall not, directly or indirectly, voluntarily purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness prior to its scheduled maturity, other than the Obligations.

  • Certain Indebtedness There is no Indebtedness of Borrower owing to any employee, officer, stockholder or director of the board of Borrower other than accrued salaries, commissions and the like and any Indebtedness subordinated to the Obligations pursuant hereto.

  • Restrictions on Payment of Certain Debt Make any payments (whether voluntary or mandatory, or a prepayment, redemption, retirement, defeasance or acquisition) with respect to any:

  • Restriction on Prepayment of Indebtedness The Borrower and the Guarantors will not, and will not permit their respective Subsidiaries to, (a) subject to §12.5, prepay, redeem, defease, purchase or otherwise retire the principal amount or pay any termination, breakage or similar payments under Derivative Contracts, in whole or in part, of any Indebtedness other than the Obligations and the Hedge Obligations after the occurrence and during the continuance of any Event of Default; provided, that the foregoing shall not prohibit (x) the prepayment of Indebtedness which is financed solely from the proceeds of a new loan which would otherwise be permitted by the terms of §8.1; and (y) the prepayment, redemption, defeasance or other retirement of the principal of Indebtedness secured by Real Estate which is satisfied solely from the proceeds of a sale of the Real Estate securing such Indebtedness; and (b) modify any document evidencing any Indebtedness (other than the Obligations) to accelerate the maturity date of such Indebtedness after the occurrence and during the continuance of an Event of Default.

  • REPAYMENT OF CERTAIN FUNDS UPON CONVERSION Any funds which at any time shall have been deposited by the Company or on its behalf with the Trustee or any other paying agent for the purpose of paying the principal of, and premium, if any, and interest, if any, on any of the Securities (including, but not limited to, funds deposited for the sinking fund referred to in Article Twelve hereof and funds deposited pursuant to Article Thirteen hereof) and which shall not be required for such purposes because of the conversion of such Securities as provided in this Article Fourteen shall after such conversion be repaid to the Company by the Trustee upon the Company's written request. ARTICLE FIFTEEN

  • Amendment, Etc. of Indebtedness Amend, modify or change in any manner any term or condition of any Indebtedness set forth in Schedule 7.02, except for any amendment, refinancing, refunding, renewal or extension thereof permitted by Section 7.02(e).

  • Limitations on Indebtedness Create, incur, assume or suffer to exist any Indebtedness except:

  • Limitations on Issuances of Guarantees of Indebtedness The Company shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee any other Indebtedness of the Company except in respect of the Credit Facilities of the Company (the “Guaranteed Indebtedness”) unless:

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