Common use of Derivatives Generally Clause in Contracts

Derivatives Generally. The Co-Issuers will not, and will not permit any other Securitization Entity to, enter into any derivative contract, swap, option, hedging contract, forward purchase contract or other similar agreement or instrument without the prior written consent of the Control Party (other than forward purchase agreements entered into by a Co-Issuer with third-party vendors on behalf of the Driven Securitization Brands in the ordinary course of business) if any such contract, agreement or instrument requires either Co-Issuer to expend any financial resources (other than amounts available to the Co-Issuers pursuant to priority (xxix) of the Priority of Payments) to satisfy any payment obligations owed in connection therewith.

Appears in 3 contracts

Samples: Driven Brands Holdings Inc., Driven Brands Holdings Inc., Driven Brands Holdings Inc.

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Derivatives Generally. The Co-Issuers will not, and will not permit any other Securitization Entity to, enter into any derivative contract, swap, option, hedging contract, forward purchase contract or other similar agreement or instrument without the prior written consent of the Control Party (other than forward purchase agreements entered into by a Co-Issuer with third-party vendors on behalf of the Driven Securitization Brands in the ordinary course of business) if any such contract, agreement or instrument requires either Co-Issuer to expend any financial resources (other than amounts available to the Co-Co- Issuers pursuant to priority (xxix) of the Priority of Payments) to satisfy any payment obligations owed in connection therewith.

Appears in 1 contract

Samples: Driven Brands Holdings Inc.

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