Common use of Indebtedness of Holdings Clause in Contracts

Indebtedness of Holdings. a Borrower to a Restricted Subsidiary or another Borrower; provided that any such Indebtedness owing to any Restricted Subsidiary that is not a Loan Party is expressly subordinated to the Obligations pursuant to the Intercompany Note (other than with respect to any Restricted Subsidiary that is subject to any applicable whitewash procedure, but only for the duration of the post-closing period applicable to such Restricted Subsidiary and specified in the proviso to Section 4.01(a)(iv)) ; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to Holdings, a Borrower or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien (but not foreclosure thereon)) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (h);