Intercompany Creditors Sample Clauses

Intercompany Creditors. (a) Until the Final Discharge Date: (i) no Intercompany Creditor shall demand or receive, and no Intercompany Debtor shall (and the Issuer shall ensure that no other Group Company will) make, any payment, repayment or prepayment of any principal, interest or other amount on or in respect of, or any distribution in respect of, or any redemption or purchase of, any Intercompany Debt in cash or in kind (or otherwise discharge any part of the Intercompany Debt by way of set-off or otherwise), except as permitted by Clause 7.2 (Permitted Intercompany Payments) or Clause 10.2 (Acceleration and Claim of Subordinated Debt and Intercompany Debt); (ii) no Intercompany Creditor shall claim or rank as a creditor in the insolvency, winding-up, bankruptcy or liquidation of any Group Company other than in accordance with Clause 10.2 (Acceleration and Claim of Subordinated Debt and Intercompany Debt); (iii) no Intercompany Creditor or Intercompany Debtor shall take or omit to take any action whereby the ranking and/or subordination contemplated by this Agreement may be impaired; and (iv) no Intercompany Creditor or Intercompany Debtor shall amend or terminate any provision of any Intercompany Document. (b) Paragraph (a) above does not apply to any action arising as a result of any prior consent of the Representatives. (c) No Intercompany Creditor shall permit to subsist or receive, and no Intercompany Debtor shall (and the Issuer shall ensure that no other Group Company will) create or permit to subsist, any Security or any guarantee for or in respect of any Intercompany Debt except if permitted by the Security Agent (acting on instructions from the Representatives).
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