Common use of Distributions from Subsidiaries Clause in Contracts

Distributions from Subsidiaries. Directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary of an Obligor to (a) pay dividends or make any other distributions on its capital stock or any other equity interest or participation in its profits owned by such Obligor or any of its Subsidiaries, or to pay any Financial Debt owed to such Obligor or any of its Subsidiaries, (b) make loans or advances to such Obligor or any of its Subsidiaries or (c) transfer any of its properties or assets to such Obligor or any of its Subsidiaries, except for such encumbrances or restrictions existing under or by reason of (i) applicable law, (ii) the Transaction Documents, (iii) customary provisions restricting subletting or assignment of any lease governing any leasehold interest of any of such Obligor’s Subsidiaries, (v) customary provisions restricting assignment of any licensing agreement (in which any of such Obligor’s Subsidiaries is the licensee) or other contract entered into by any of such Obligor’s Subsidiaries in the ordinary course of business, (vi) restrictions on the transfer of any asset pending the closing of the sale of such asset, and (vii) restrictions on the transfer of any asset subject to a Permitted Lien;

Distributions from Subsidiaries. Directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary of an Obligor the Borrower to (ai) pay dividends or make any other distributions on its capital stock or any other equity interest or participation in its profits owned by such Obligor the Borrower or any of its Subsidiaries, or to pay any Financial Debt owed to such Obligor the Borrower or any of its Subsidiaries, (bii) make loans or advances to such Obligor the Borrower or any of its Subsidiaries or (ciii) transfer any of its properties or assets to such Obligor the Borrower or any of its Subsidiaries, except for such encumbrances or restrictions existing under or by reason of (iA) applicable law, (iiB) the Transaction Financing Documents, (iiiC) customary provisions restricting subletting or Offer Letter No. CTA 1/20 assignment of any lease governing any leasehold interest of any of such Obligorthe Borrower’s Subsidiaries, (vD) customary provisions restricting assignment of any licensing agreement (in which any of such Obligorthe Borrower’s Subsidiaries is the licensee) or other contract entered into by any of such Obligorthe Borrower’s Subsidiaries in the ordinary course of business, (viE) restrictions on the transfer of any asset pending the closing of the sale of such asset, and (viiF) restrictions on the transfer of any asset subject to a Permitted Lien; except for restrictions contained in any Financial Debt permitted pursuant to Section 5.02(c) (Negative Covenants) and as are reasonable or customary for such financing arrangements contained therein;

Distributions from Subsidiaries. Directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary of an Obligor the Borrower to (ai) pay dividends or make any other distributions on its capital stock or any other equity interest or participation in its profits owned by such Obligor the Borrower or any of its Subsidiaries, or to pay any Financial Debt owed to such Obligor the Borrower or any of its Subsidiaries, (bii) make loans or advances to such Obligor the Borrower or any of its Subsidiaries or (ciii) transfer any of its properties or assets to such Obligor the Borrower or any of its Subsidiaries, except for such encumbrances or restrictions existing under or by reason of (iA) applicable law, (iiB) the Transaction IFC Financing Documents, (iiiC) customary provisions restricting subletting or assignment of any lease governing any leasehold interest of any of such Obligorthe Borrower’s Subsidiaries, (vD) customary provisions restricting assignment of any licensing agreement (in which any of such Obligorthe Borrower’s Subsidiaries is the licensee) or other contract entered into by any of such Obligorthe Borrower’s Subsidiaries in the ordinary course of business, (viE) restrictions on the transfer of any asset pending the closing of the sale of such asset, and (viiF) restrictions on the transfer of any asset subject to a Permitted Lien; except for restrictions contained in any Financial Debt permitted pursuant to Section 5.02(c) and as are reasonable or customary for such financing arrangements contained therein;

Distributions from Subsidiaries. Directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary of an Obligor the Borrower to (ai) pay dividends or make any other distributions on its capital stock or any other equity interest or participation in its profits owned by such Obligor the Borrower or any of its Subsidiaries, or to pay any Financial Debt owed to such Obligor the Borrower or any of its Subsidiaries, (bii) make loans or advances to such Obligor the Borrower or any of its Subsidiaries or (ciii) transfer any of its properties or assets to such Obligor the Borrower or any of its Subsidiaries, except for such encumbrances or restrictions existing under or by reason of (iA) applicable law, (iiB) the Transaction IFC Financing Documents, (iiiC) customary provisions restricting subletting or assignment of any lease governing any leasehold interest of any of such Obligorthe Borrower’s Subsidiaries, (v) customary D)customary provisions restricting assignment of any licensing agreement (in which any of such Obligorthe Borrower’s Subsidiaries is the licensee) or other contract entered into by any of such Obligorthe Borrower’s Subsidiaries in the ordinary course of business, (viE) restrictions on the transfer of any asset pending the closing of the sale of such asset, and (viiF) restrictions on the transfer of any asset subject to a Permitted Lien;; except for restrictions contained in any Financial Debt permitted pursuant to Section 5.02(c) and as are reasonable or customary for such financing arrangements contained therein; ​