Common use of Limitation on Restrictions Affecting Subsidiaries Clause in Contracts

Limitation on Restrictions Affecting Subsidiaries. The Company will not, and will not permit any Subsidiary to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to (a) pay dividends or make any other distribution on any of such Subsidiary's capital stock or partnership interests owned by the Company or any Subsidiary of the Company, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make 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 2 contracts

Samples: Partner Guaranty Agreement (Huntway Partners L P), Partner Guaranty Agreement (Huntway Partners L P)

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Limitation on Restrictions Affecting Subsidiaries. The After the Company has paid in full the principal of and all accrued interest (including Secondary Securities, as defined in the Collateralized Note Indenture issued with respect thereto) on the Senior Securities, the Company will not, and will not permit any Subsidiary to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to (a) pay dividends or make any other distribution on any of such Subsidiary's capital stock or partnership interests owned by the Company or any Subsidiary of the Company, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make 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 2 contracts

Samples: Intercreditor Agreement (Huntway Partners L P), Intercreditor Agreement (Huntway Partners L P)

Limitation on Restrictions Affecting Subsidiaries. The Except as otherwise set forth herein or as may be set forth in the Credit Agreement, the Canadian Credit Agreement, any guarantee thereof or any agreement binding on a Subsidiary acquired after the date hereof in accordance with the terms hereof, the Company will not, and will not permit any Subsidiary to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to (a) pay dividends or make any other distribution on any of such Subsidiary's capital stock or partnership interests owned by the Company or any Subsidiary of the Company, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make loans or advances to the Company or any other Subsidiary of the Company Company, or (d) transfer any of its property or assets to the Company or any other Subsidiary of the Company.

Appears in 1 contract

Samples: Senior Secured Note Indenture (SLM International Inc /De)

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Limitation on Restrictions Affecting Subsidiaries. The Except as otherwise set forth herein or as may be set forth in the Credit Agreement, the Canadian Credit Agreement, any guarantee relating to either of the foregoing or any agreement binding on a Subsidiary acquired after the date hereof in accordance with the terms hereof, the Company will not, and will not permit any Subsidiary to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to (a) pay dividends or make any other distribution on any of such Subsidiary's capital stock or partnership interests owned by the Company or any Subsidiary of the Company, (b) pay any Indebtedness owed to the Company or any other Subsidiary of the Company, (c) make loans or advances to the Company or any other Subsidiary of the Company Company, or (d) transfer any of its property or assets to the Company or any other Subsidiary of the Company.

Appears in 1 contract

Samples: Execution (SLM International Inc /De)

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