Common use of Limitation on Restrictions Affecting Subsidiaries Clause in Contracts

Limitation on Restrictions Affecting Subsidiaries. The Borrower shall not, and shall not permit any Restricted Subsidiary to, enter into, or suffer to exist, any agreement that prohibits or limits the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions or pay any Indebtedness owed to the Borrower or any other Restricted Subsidiary; (b) make loans or advances to the Borrower or any other Restricted Subsidiary or (c) in the case of any Subsidiary Guarantor, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, that is or would be required hereunder to be Collateral securing the obligations of the Borrower and the Subsidiary Guarantors under the Financing Documents; provided that the foregoing shall not prohibit any such prohibition or limitation contained in:

Appears in 2 contracts

Samples: Abl Credit Agreement (Kindred Healthcare, Inc), Term Loan Credit Agreement (Kindred Healthcare, Inc)

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Limitation on Restrictions Affecting Subsidiaries. The Borrower shall not, and shall not permit any Restricted Subsidiary to, enter into, or suffer to exist, any agreement that (other than the Financing Documents and, in the case of clause (c), the Master Lease Agreements) which prohibits or limits the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions or pay any Indebtedness owed to the Borrower or any other Restricted Subsidiary; (b) make loans or advances to the Borrower or any other Restricted Subsidiary or (c) in the case of any Subsidiary Guarantor, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, that is or would be required hereunder to be Collateral securing secure the obligations of the Borrower and the Subsidiary Guarantors under the Financing Documents; provided that the foregoing shall not prohibit any such prohibition or limitation contained in:

Appears in 2 contracts

Samples: Credit Agreement (Kindred Healthcare, Inc), Credit Agreement (Kindred Healthcare Inc)

Limitation on Restrictions Affecting Subsidiaries. The Borrower Issuer shall not, and shall not permit any Restricted Subsidiary to, enter into, or suffer to exist, any agreement that (other than the Financing Documents and the Exit Facility Financing Documents and, in the case of clause (c), the Master Lease Agreements) which prohibits or limits the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions or pay any Indebtedness Debt owed to the Borrower Issuer or any other Restricted Subsidiary; (b) make loans or advances to the Borrower Issuer or any other Restricted Subsidiary or (c) in the case of any Subsidiary Guarantor, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, that is or would be required hereunder to be Collateral securing secure the obligations of the Borrower Issuer and the Subsidiary Guarantors under the Financing Documents and the Exit Facility Financing Documents; provided that the foregoing shall not prohibit any such prohibition or limitation contained in:

Appears in 1 contract

Samples: Second Priority Security Agreement (Kindred Healthcare Inc)

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Limitation on Restrictions Affecting Subsidiaries. The Neither the Borrower shall not, and shall not permit nor any Restricted Subsidiary to, of its Subsidiaries will enter into, or suffer to exist, any agreement that with any Person, other than the Loan Documents, which (a) prohibits or limits the ability of any Restricted Subsidiary to (ai) pay dividends or make any other distributions or pay any Indebtedness Debt owed to the Borrower or any other Restricted Subsidiary; , (bii) make loans or advances to the Borrower or any other Restricted Subsidiary or (ciii) in transfer any of its properties or assets to the case of Borrower or any Subsidiary Guarantor, or (b) prohibits or limits the ability of the Borrower or any Subsidiary to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, that is or would be required hereunder to be Collateral securing the obligations of the Borrower and the Subsidiary Guarantors under the Financing Documents; provided that the foregoing provisions in clauses (a)(iii) and (b) shall not prohibit any such prohibition apply to restrictions imposed by purchase money Liens or limitation contained in:capital leases permitted by Section 5.09 on the assets financed or leased thereby.

Appears in 1 contract

Samples: Credit Agreement (Sybron Chemicals Inc)

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