Limitation on Dividend Restrictions Affecting Subsidiaries. Except pursuant to this Agreement, the Company will not permit any of its Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction which by its terms restricts the ability of any such Subsidiary to (a) pay dividends or make any other distributions on such Subsidiary's Capital Stock, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make any loans or advances to the Company or any other Subsidiary of the Company or (d) transfer any of its Property or assets to the Company or any other Subsidiary of the Company.
Appears in 3 contracts
Samples: Note Purchase Agreement (Horizon Medical Products Inc), Note Purchase Agreement (Horizon Medical Products Inc), Note Purchase Agreement (Horizon Medical Products Inc)
Limitation on Dividend Restrictions Affecting Subsidiaries. Except pursuant to this Agreement, the Company will not permit any of its Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction which by its terms restricts the ability of any such Subsidiary to (a) pay dividends or make any other distributions on such Subsidiary's Capital Stock’s Equity Interests, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make any loans or advances to the Company or any other Subsidiary of the Company or (d) transfer any of its Property property or assets to the Company or any other Subsidiary of the Company.
Appears in 2 contracts
Samples: Preferred Stock and Warrant Purchase Agreement (GenuTec Business Solutions, Inc.), Note Purchase Agreement (GenuTec Business Solutions, Inc.)
Limitation on Dividend Restrictions Affecting Subsidiaries. Except pursuant to this AgreementAgreement and the Senior Debt Documents, the Company will shall not permit any of its Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction which by its terms restricts the ability of any such Subsidiary to (a) pay dividends or make any other distributions on such Subsidiary's Capital Stock’s Equity Interests, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make any loans or advances to the Company or any other Subsidiary of the Company or (d) transfer any of its Property property or assets to the Company or any other Subsidiary of the Company.
Appears in 1 contract
Samples: Preferred Stock and Warrant Purchase Agreement (NYTEX Energy Holdings, Inc.)
