Indebtedness of the Issuer to a Restricted Subsidiary. provided that any such Indebtedness owed to a Restricted Subsidiary that is not a Guarantor is subordinated in right of payment to the obligations of the Issuer under the Securities; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event that results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause (vii);
Appears in 3 contracts
Samples: Indenture (Aquestive Therapeutics, Inc.), Indenture (Blue Water Acquisition Corp.), Indenture (Egalet Us Inc.)
Indebtedness of the Issuer to a Restricted Subsidiary. provided that any such Indebtedness owed owing to a Restricted Subsidiary that is not a Guarantor is subordinated in right of payment to the obligations of the Issuer under the SecuritiesNotes; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event that which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted LienSubsidiary) shall be deemed, in each case, case to be an Incurrence incurrence of such Indebtedness not permitted by this clause (vii7);
Appears in 2 contracts
Samples: Indenture (Advanced Drainage Systems, Inc.), Advanced Drainage Systems, Inc.