Common use of Limitation on Certain Restrictions Clause in Contracts

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (Intercontinentalexchange Inc), Credit Agreement (Intercontinentalexchange Inc), Credit Agreement (Intercontinentalexchange Inc)

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Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties Borrower to perform and comply with their respective its obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital StockEquity Interests, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Unum Group), Credit Agreement (Unum Group)

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties Borrower and any such Subsidiaries to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the each case of clause (b) above only) for other than such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in operating leases and licenses of real or personal property (including intellectual property) entered into by the Borrower or any Subsidiary of its Subsidiaries as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, and (iv) as to clause (b) above only, the Guaranty Fund and Foreign Working Capital Facility (v) customary restrictions and conditions contained in any agreement relating but only with respect to the sale of assets (including Capital Stock of a Subsidiary) pending such saleForeign Subsidiary obligors thereunder, provided that such restrictions and conditions apply then only to the assets being sold and extent that any such sale is permitted restrictions could not reasonably be expected to materially impair the ability of the Borrower to perform its obligations under this Agreement).

Appears in 2 contracts

Samples: Credit Agreement (Symmetry Medical Inc.), Credit Agreement (Symmetry Medical Inc.)

Limitation on Certain Restrictions. The Borrower Each of the Parent and the Borrowers will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties Parent, the Company and its Subsidiaries to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower Company to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower Company or any other Subsidiary, to make loans or advances to the Borrower Company or any other Subsidiary, or to transfer any of its assets or properties to the Borrower Company or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property or other agreements entered into by the Borrower Company or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement, (v) customary provisions in joint venture agreements entered into by the Company or any Subsidiary in the ordinary course of business, and (vi) the credit arrangements permitted under Section 8.2(xi) (but only with respect to the Foreign Subsidiary obligors thereunder).

Appears in 2 contracts

Samples: Credit Agreement (Dj Orthopedics Inc), Credit Agreement (Dj Orthopedics Inc)

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of LawLaw (other than the charter, constitution, articles or certificate of organization or incorporation and bylaws or other organizational or governing documents of such Person), (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, sale (provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement) and (v) the terms of the Project Documents applicable to any Borrowing Base Project.

Appears in 1 contract

Samples: Credit Agreement (Greenbacker Renewable Energy Co LLC)

Limitation on Certain Restrictions. The Borrower Parent will not, and will not ---------------------------------- permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (ai) the ability right of the any Credit Parties Party to perform and comply with their respective its obligations under the Credit Documents or (bii) the ability right of any Subsidiary of the Borrower to make any dividend payment payments or other distribution distributions in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other SubsidiarySubsidiary of the Borrower, to make loans or advances to the Borrower or any other SubsidiarySubsidiary of the Borrower, or to transfer any of its assets or properties to the Borrower or any other SubsidiarySubsidiary of the Borrower, except (in the each case of clause (b) above only) for other than such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases any lease governing a leasehold interest, (iv) the terms of licenses or trademarks and licenses of real or personal property copyrights entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary other contractual restrictions and conditions contained in any agreement relating respect of assets not material to the sale business of assets (including Capital Stock of the Credit Parties, taken as a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreementwhole.

Appears in 1 contract

Samples: Credit Agreement (Petersen Companies Inc)

Limitation on Certain Restrictions. The Borrower Credit Parties will not, and the Borrower will not permit or cause any of its the Borrower’s Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of LawLaw (other than the charter, constitution, articles or certificate of organization or incorporation and bylaws or other organizational or governing documents of such Person), (iii) customary non-non- assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, sale (provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement) and (v) the terms of the Project Documents applicable to any Borrowing Base Project.

Appears in 1 contract

Samples: Credit Agreement (Greenbacker Renewable Energy Co LLC)

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective its obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any such Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Intercontinentalexchange Inc)

Limitation on Certain Restrictions. The Borrower Except as expressly provided in Section 9.15 and in similar provisions contained in the Warrant and the Certificate of Designations, the Company will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer permit to exist or become be effective any restriction or encumbrance on (a) the ability of the Credit Company Parties to perform and comply with their respective obligations under the Credit Investment Documents or (b) the ability of any Subsidiary of the Borrower Company to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower Company or any other Subsidiary, to make loans or advances to the Borrower Company or any other Subsidiary, or to transfer any of its assets or properties to the Borrower Company or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Investment Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower Company or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, thereof and (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Investment Agreement (Pure Earth, Inc.)

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries the Subsidiary Guarantors to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, and (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, ; provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Apollo Medical Holdings, Inc.)

Limitation on Certain Restrictions. The Borrower Parent will not, and will not ---------------------------------- permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (ai) the ability right of the any Credit Parties Party to perform and comply with their respective its obligations under the Credit Documents or (bii) the ability right of any Subsidiary of the Borrower to make any dividend payment payments or other distribution distributions in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other SubsidiarySubsidiary of the Borrower, to make loans or advances to the Borrower or any other SubsidiarySubsidiary of the Borrower, or to transfer any of its assets or properties to the Borrower or any other SubsidiarySubsidiary of the Borrower, except (in the each case of clause (b) above only) for other than such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases any lease governing a leasehold -77- interest, (iv) the terms of licenses or trademarks and licenses of real or personal property copyrights entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary other contractual restrictions and conditions contained in any agreement relating respect of assets not material to the sale business of assets (including Capital Stock of the Credit Parties, taken as a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreementwhole.

Appears in 1 contract

Samples: Credit Agreement (Petersen Companies Inc)

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Limitation on Certain Restrictions. The Each of the Parent and the Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties Parent, the Borrower and its Subsidiaries to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property or other agreements entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement, (v) customary provisions in joint venture agreements entered into by the Borrower or any Subsidiary in the ordinary course of business, and (vi) the Senior Subordinated Note Indenture as in effect as of the date hereof.

Appears in 1 contract

Samples: Credit Agreement (Dj Orthopedics Inc)

Limitation on Certain Restrictions. The Borrower will not, and ---------------------------------- will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (ai) the ability right of the Credit Parties Borrower and its Subsidiaries to perform and comply with their respective obligations under the Credit Loan Documents or (bii) the ability of any Subsidiary of the Borrower to make any dividend payment payments or other distribution distributions in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the each case of clause (b) above only) for other than such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Loan Documents, (ii) the Senior Credit Facility and any other agreement or instrument evidencing or governing any Indebtedness permitted under clause (ii) of SECTION 8.2 of the Senior Credit Facility, (iii) applicable Requirements of LawLaw and, (iiiiv) customary non-assignment provisions in leases any lease governing a leasehold interest, (v) the terms of licenses or trademarks and licenses of real or personal property copyrights entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund business and (vvi) customary other contractual restrictions and conditions contained in any agreement relating respect of assets not material to the sale business of assets (including Capital Stock of the Credit Parties, taken as a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreementwhole.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Petersen Holdings LLC)

Limitation on Certain Restrictions. The Borrower Each of the Managing Member and the Borrowers will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower Group to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower Group or any other Subsidiary, to make loans or advances to the Borrower Group or any other Subsidiary, or to transfer any of its assets or properties to the Borrower Group or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower Group or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, and (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, ; provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Manning & Napier, Inc.)

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary, to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, and (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, ; provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Apollo Medical Holdings, Inc.)

Limitation on Certain Restrictions. The Each Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the a Borrower to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the a Borrower or any other Subsidiary, to make loans or advances to the a Borrower or any other Subsidiary, or to transfer any of its assets or properties to the a Borrower or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the a Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Intercontinentalexchange Inc)

Limitation on Certain Restrictions. The Borrower Credit Parties will not, and will not permit or cause any of its their respective Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower any Credit Party to make any dividend payment or other distribution in respect of its Capital StockEquity Interests, to repay Indebtedness owed to the Borrower any Credit Party or any other Subsidiary, to make loans or advances to the Borrower any Credit Party or any other Subsidiary, or to transfer any of its assets or properties to the Borrower any Credit Party or any other Subsidiary, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower any Credit Party or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, thereof and (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock Equity Interests of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Ipc Holdings LTD)

Limitation on Certain Restrictions. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly Directly or indirectly, create or otherwise cause or suffer to exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties Borrower, HB Service or any of their respective Subsidiaries to perform and comply with their respective obligations under the Credit Documents or (b) the ability of any Subsidiary of the Borrower or HB Service to make any dividend payment or other distribution in respect of its Capital Stock, to repay Indebtedness owed to the Borrower Borrower, HB Service or any other SubsidiarySubsidiary of the Borrower or HB Service, to make loans or advances to the Borrower Borrower, HB Service or any other Subsidiaryof their respective Subsidiaries, or to transfer any of its assets or properties to the Borrower Borrower, HB Service or any other Subsidiaryof their respective Subsidiaries, except (in the case of clause (b) above only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment provisions in leases and licenses of real or personal property entered into by the Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or transfer thereof or of property that is the subject thereof, and (iv) the Guaranty Fund and (v) customary restrictions and conditions contained in any agreement relating to the sale of assets (including Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply only to the assets being sold and such sale is permitted under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Swisher Hygiene Inc.)

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