Common use of Limitation on Restrictions on Distributions from Subsidiaries Clause in Contracts

Limitation on Restrictions on Distributions from Subsidiaries. Create or otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Significant Subsidiary to pay dividends or make any other distribution on its Capital Stock to such Borrower, other than any encumbrance or restriction pursuant to an agreement or instrument in effect at the Closing Date, or imposed by any Governmental Authority.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Avangrid, Inc.), Revolving Credit Agreement (Avangrid, Inc.), Revolving Credit Agreement

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Limitation on Restrictions on Distributions from Subsidiaries. Create or otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Significant Subsidiary to pay dividends or make any other distribution on its Capital Stock to such the Borrower, other than any encumbrance or restriction pursuant to an agreement or instrument in effect at the Closing Restatement Effective Date, or imposed by any Governmental Authority.

Appears in 3 contracts

Samples: Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc)

Limitation on Restrictions on Distributions from Subsidiaries. Create or otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Significant Subsidiary to pay dividends or make any other distribution on its Capital Stock to such the Borrower, other than any encumbrance or restriction pursuant to an agreement or instrument in effect at the Closing Date, or imposed by any Governmental Authority.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Avangrid, Inc.), Term Loan Credit Agreement (Avangrid, Inc.), Revolving Credit Agreement (Iberdrola USA, Inc.)

Limitation on Restrictions on Distributions from Subsidiaries. Create or otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Significant Subsidiary to pay dividends or make any other distribution on its Capital Stock to such BorrowerStock, other than any encumbrance or restriction pursuant to an agreement or instrument in effect at on the Closing DateDate as set forth on Schedule 6.6, or imposed by any Governmental Authority.

Appears in 3 contracts

Samples: Credit Agreement (Keyspan Corp), Credit Agreement (Keyspan Corp), Credit Agreement (Keyspan Corp)

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Limitation on Restrictions on Distributions from Subsidiaries. Create or otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Significant Subsidiary to pay dividends or make any other distribution on its Capital Stock to such BorrowerStock, other than any encumbrance or restriction pursuant to an agreement or instrument in effect at on the Closing DateDate as set forth on Schedule 6.6, or imposed by any Governmental Authority.

Appears in 2 contracts

Samples: Credit Agreement (Keyspan Corp), Credit Agreement (Keyspan Corp)

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