Common use of Covenants in Other Agreements Clause in Contracts

Covenants in Other Agreements. The Company will not and will not permit any of its Restricted Subsidiaries to become a party to or to agree that it or any of its property is bound by any agreement, indenture, mortgage, deed of trust or any other instrument ("Instruments") directly or indirectly (i) restricting any loans, advances or any other Investments to or in the Company by any of its Restricted Subsidiaries, (ii) restricting the ability of any Restricted Subsidiary to make tax payments or management fee payments to the Company, or (iii) restricting the ability or capacity of any Restricted Subsidiary to make Dividend Payments to the Company, except for (a) instruments in existence on the date hereof and (b) instruments entered into after the date hereof containing restrictions not materially more restrictive than the restrictions permitted under clause (a) above.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Ocean Energy Inc /Tx/), Guaranty Agreement (Ocean Energy Inc /Tx/)

AutoNDA by SimpleDocs

Covenants in Other Agreements. The Company will not and will not permit any of its Restricted Subsidiaries to become a party to or to agree that it or any of its property is bound by any agreement, indenture, mortgage, deed of trust or any other instrument ("Instruments") directly or indirectly (i) restricting any loans, advances or any other Investments to or in the Company by any of its Restricted Subsidiaries, (ii) restricting the ability of any Restricted Subsidiary to make tax payments or management fee payments to the Company, or (iii) restricting the ability or capacity of any Restricted Subsidiary to make Dividend Payments to the Company, except for (a) instruments in existence on the date hereof Effective Date and (b) instruments entered into after the date hereof Effective Date containing restrictions not materially more restrictive than the restrictions permitted under clause (a) above.

Appears in 1 contract

Samples: Guaranty Agreement (Ocean Energy Inc /Tx/)

AutoNDA by SimpleDocs

Covenants in Other Agreements. The Company will not and will not permit any of its Restricted Subsidiaries to become a party to or to agree that it or any of its property is bound by any agreement, indenture, mortgage, deed of trust or any other instrument ("Instruments") directly or indirectly (i) restricting any loans, advances or any other Investments to or in the Company by any of its Restricted Subsidiaries, (ii) restricting the ability of any Restricted Subsidiary to make tax payments or management fee payments to the Company, or (iii) restricting the ability or capacity of any Restricted Subsidiary to make Dividend Payments to the Company, except for (a) instruments in existence on the date hereof and (b) instruments entered into after the date hereof containing restrictions not materially more restrictive than the restrictions permitted under clause (a) above.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Ocean Energy Inc /Tx/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!