Common use of Certain Indebtedness Payments, Etc Clause in Contracts

Certain Indebtedness Payments, Etc. Neither Borrower nor any of its Subsidiaries shall pay, prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled payment thereof any Subordinated Debt except as otherwise permitted under this Section 7.11; amend, modify or otherwise change the terms of any document, instrument or agreement evidencing Subordinated Debt such that such amendment, modification or change would (i) cause the outstanding aggregate principal amount of all such Subordinated Debt so amended, modified or changed to be increased as a consequence of such amendment, modification or change, (ii) cause the subordination provisions applicable to such Subordinated Debt to be less favorable to Administrative Agent and Lenders than those set forth on Schedule 7.13, (iii) increase the interest rate applicable thereto, or (iv) accelerate the scheduled payment thereof. Borrower shall not cause or permit any of its obligations, except the obligations constituting Senior Indebtedness, to constitute "Designated Senior Indebtedness" under the Indenture governing the New Convertible Subordinated Notes (it being understood that the Obligations of Borrower under this Agreement shall at all times constitute "Designated Senior Indebtedness" under such indenture). Notwithstanding the foregoing, Borrower may at any time:

Appears in 1 contract

Samples: Credit Agreement (Quantum Corp /De/)

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Certain Indebtedness Payments, Etc. Neither Borrower Lessee nor any of its Subsidiaries shall pay, prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled payment thereof any Subordinated Debt except as otherwise permitted under this Section 7.1110.2(j); amend, modify or otherwise change the terms of any document, instrument or agreement evidencing Subordinated Debt such that such amendment, modification or change would (i) cause the outstanding aggregate principal amount of all such Subordinated Debt so amended, modified or changed to be increased as a consequence of such amendment, modification or change, (ii) cause the subordination provisions applicable to such Subordinated Debt to be less favorable to Administrative Agent and Lenders the Participants than those set forth on Schedule 7.13Exhibit O, (iii) increase the interest rate applicable thereto, or (iv) accelerate the scheduled payment thereof. Borrower Lessee shall not cause or permit any of its obligations, except the obligations constituting Senior Indebtedness, Indebtedness to constitute "Designated Senior Indebtedness" under the Indenture governing the Convertible Subordinated Debentures or the indenture governing the New Convertible Subordinated Notes (it being understood that the Obligations obligations of Borrower Lessee under this Agreement the Operative Documents shall at all times constitute "Designated Senior Indebtedness" under both such indentureindentures). Notwithstanding the foregoing, Borrower may Lessee at any time:

Appears in 1 contract

Samples: Participation Agreement (Quantum Corp /De/)

Certain Indebtedness Payments, Etc. Neither Borrower nor any of its Subsidiaries shall pay, prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled payment thereof any Subordinated Debt except as otherwise permitted under this Section 7.11; amend, modify or otherwise change the terms of any document, instrument or agreement evidencing Subordinated Debt such that such amendment, modification or change would (i) cause the outstanding aggregate principal amount of all such Subordinated Debt so amended, modified or changed to be increased as a consequence of such amendment, modification or change, (ii) cause the subordination provisions applicable to such Subordinated Debt to be less favorable to Administrative Agent and Lenders than those set forth on Schedule 7.13, (iii) increase the interest rate applicable thereto, or (iv) accelerate the scheduled payment thereof. Borrower shall not cause or permit any of its obligations, except the obligations constituting Senior Indebtedness, to constitute "Designated Senior Indebtedness" under the Indenture governing the Convertible Subordinated Debentures or the indenture governing the New Convertible Subordinated Notes (it being understood that the Obligations of Borrower under this Agreement shall at all times constitute "Designated Senior Indebtedness" under both such indentureindentures). Notwithstanding the foregoing, Borrower may at any time:

Appears in 1 contract

Samples: Credit Agreement (Quantum Corp /De/)

Certain Indebtedness Payments, Etc. Neither Borrower Lessee nor any of its Subsidiaries shall pay, prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled payment thereof any Subordinated Debt except as otherwise permitted under this Section 7.1110.2(j); amend, modify or otherwise change the terms of any document, instrument or agreement evidencing Subordinated Debt such that such amendment, modification or change would (i) cause the outstanding aggregate principal amount of all such Subordinated Debt so amended, modified or changed to be increased as a consequence of such amendment, modification or change, (ii) cause the subordination provisions applicable to such Subordinated Debt to be less favorable to Administrative Agent and Lenders the Participants than those set forth on Schedule 7.13Exhibit O, (iii) increase the interest rate applicable thereto, or (iv) accelerate the scheduled payment thereof. Borrower Lessee shall not cause or permit any of its obligations, except the obligations constituting Senior Indebtedness, Indebtedness to constitute "Designated Senior Indebtedness" under the Indenture governing the New Convertible Subordinated Notes Debentures (it being understood that the Obligations obligations of Borrower Lessee under this Agreement the Operative Documents shall at all times constitute "Designated Senior Indebtedness" under both such indentureindentures). Notwithstanding the foregoing, Borrower may Lessee at any time:

Appears in 1 contract

Samples: Participation Agreement (Quantum Corp /De/)

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Certain Indebtedness Payments, Etc. Neither Borrower nor any of its Subsidiaries shall payPay, prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled payment thereof (x) any Subordinated Debt except as otherwise permitted under this Section 7.117.10 and (y) subject to the Intercreditor Agreement during any period when an Event of Default has occurred and is continuing, any Indebtedness of Borrower and its Subsidiaries; amend, modify or otherwise change the terms of any document, instrument or agreement evidencing Subordinated Debt such that such amendment, modification or change would (ia) cause the outstanding aggregate principal amount of all such Subordinated Debt so amended, modified or changed to be increased as a consequence of such amendment, modification or change, (iib) cause the subordination provisions applicable to such Subordinated Debt to be less favorable to Administrative Agent and Lenders than those set forth on Schedule 7.137.10, (iiic) increase the interest rate applicable thereto, or (ivd) accelerate the scheduled payment thereof, or (e) change any default or event of default with respect thereto (other than to eliminate any such event of default or increase any grace period related thereto) or confer any additional rights on the holders of such Subordinated Debt (or a trustee or other representative on their behalf) which would be adverse to any Lender or the Administrative Agent. Borrower shall not cause or permit any of its obligations, except the obligations constituting Senior Indebtedness, to constitute "Designated Senior Indebtedness" under the Indenture governing the New Convertible Subordinated Notes (it being understood that the Obligations of Borrower under this Agreement shall at all times constitute "Designated Senior Indebtedness" under such indenture). Notwithstanding the foregoing, Borrower may at any time:

Appears in 1 contract

Samples: Term Loan Agreement (Quantum Corp /De/)

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