Certain Allowed Payments in Respect of Debt Sample Clauses

Certain Allowed Payments in Respect of Debt. Holdings, HGI and any of its Subsidiaries may (i) make interest payments as and when due in respect of the Senior Notes, Debt incurred pursuant to Section 7.01(v) and any Subordinated Debt (other than the Junior Debentures, as to which clause (d) below applies) of HGI entered into in compliance with Section 7.01; (ii) refinance the Senior Notes and Subordinated Debt to the extent expressly permitted under Section 7.01, in each case other than any such payments prohibited by the subordination provisions of any Subordinated Debt; (iii) exchange Senior Notes, Debt incurred pursuant to Section 7.01(v) and Subordinated Debt of OH Holdings or any of its Subsidiaries for Equity Interests issued by OH Holdings or redeem or repay with the proceeds of Qualified Equity Issuances; (iv) permit the cancellation or forgiveness of Subordinated Debt of OH Holdings or any of its Subsidiaries; and (v) make optional redemptions or prepayments of principal of the Senior Notes or Debt incurred pursuant to Section 7.01(v)(A) if (x) no Default or Event of Default shall have occurred and be continuing at the time of such redemption or prepayment, (y) Holdings shall have delivered to the Administrative Agent a Pro-Forma Compliance Certificate demonstrating that upon giving effect to such payments on a Pro-Forma Basis, including as if such payments were made in the prior period of calculation (with pro-forma adjustments satisfactory to the Administrative Agent), the Secured Leverage Ratio as of the last day of the most recently ended fiscal quarter of Holdings and its Consolidated Subsidiaries for the period of four consecutive fiscal quarters of Holdings and its Consolidated Subsidiaries then ended, taken as a single accounting period, will not exceed 2.25:1.00 and (z) the aggregate amount expended in respect of all such redemptions and prepayments shall not exceed $20,000,000 plus, during any fiscal year of Holdings after December 31, 2011, that portion of Excess Cash Flow for the prior fiscal year that is not required to prepay the Term Loans in accordance with Section 2.09(b)(iii).
Sample 1
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Related to Certain Allowed Payments in Respect of Debt

  • Restricted Payments; Certain Payments of Indebtedness (a) The Borrower will not, and will not permit any Restricted Subsidiary to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except:

  • Payments on Subordinated Debt The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

  • Limitation on Restricted Payments (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly:

  • Limitation on Senior Subordinated Indebtedness The Company will not Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness and senior in right of payment to the Securities. No Guarantor will Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness of such Guarantor and senior in right of payment to such Guarantor’s Subsidiary Guarantee.

  • Limitations on Restricted Payments (a) The Issuer will not, and will not permit any Restricted Subsidiary to, directly or indirectly, make any Restricted Payment if at the time of such Restricted Payment:

  • Restricted Payments, etc On and at all times after the Effective Date:

  • Restricted Payments Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that:

  • Limitation on Subsidiary Indebtedness The Company shall not permit any of the Subsidiaries of the Company to create, incur, assume or suffer to exist any Indebtedness, except:

  • Payments on Securities Permitted Subject to Section 15.01, nothing contained in this Indenture or in any of the Securities shall (a) affect the obligation of the Company to make, or prevent the Company from making, at any time except as provided in Sections 15.02 and 15.03, payments of principal of (or premium, if any) or interest, if any, on the Securities or (b) prevent the application by the Trustee of any moneys or assets deposited with it hereunder to the payment of or on account of the principal of (or premium, if any) or interest, if any, on the Securities, unless a Responsible Officer of the Trustee shall have received at its Corporate Trust Office written notice of any fact prohibiting the making of such payment from the Company or from the holder of any Senior Indebtedness or from the trustee for any such holder, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such trustee more than two Business Days prior to the date fixed for such payment.

  • Payments Under Loan Documents The Borrower shall fail to pay any principal of any Loan (including scheduled installments, mandatory prepayments or the payment due at maturity), Reimbursement Obligation or Letter of Credit or Obligation or any interest on any Loan, Reimbursement Obligation or Letter of Credit Obligation or any other amount owing hereunder or under the other Loan Documents on the date on which such principal, interest or other amount becomes due in accordance with the terms hereof or thereof;

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