Common use of Limitation on Restrictions on Subsidiary Dividends and Other Distributions Clause in Contracts

Limitation on Restrictions on Subsidiary Dividends and Other Distributions. The Guarantor will not, and will not permit any Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary, other than the Borrower, to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits, owned by the Guarantor or any Subsidiary, or pay any Debt owed by any Subsidiary to the Guarantor or any Subsidiary that is a direct or indirect parent of such former Subsidiary, (b) make loans or advances to the Guarantor or any Subsidiary that is a direct or indirect parent of such former Subsidiary or (c) transfer any of its properties or assets to the Guarantor or any such Subsidiary that is a direct or indirect parent of such former Subsidiary (or, solely in the case of clause (xii) hereof, any other Consolidated Person in respect of such Nonrecourse Debt), except for such encumbrances or restrictions existing under or by reason of:

Appears in 5 contracts

Samples: Credit Agreement (TYCO INTERNATIONAL PLC), Credit Agreement (Tyco International LTD), Credit Agreement (Tyco International LTD)

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Limitation on Restrictions on Subsidiary Dividends and Other Distributions. The Guarantor will not, and will not permit any Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary, Subsidiary other than the BorrowerBorrower (a “Subject Subsidiary”), to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits, owned by the Guarantor or any Subsidiary, or pay any Debt owed by any Subject Subsidiary to the Guarantor or any Subsidiary that is a direct or indirect parent of such former Subject Subsidiary, (b) make loans or advances to the Guarantor or any Subsidiary that is a direct or indirect parent of such former Subject Subsidiary or (c) transfer any of its properties or assets to the Guarantor or any such Subsidiary that is a direct or indirect parent of such former Subject Subsidiary (or, solely in the case of clause (xiixi) hereof, any other Consolidated Person in respect of such Nonrecourse Debt), except for such encumbrances or restrictions existing under or by reason of:

Appears in 2 contracts

Samples: Assignment and Assumption, Assignment and Assumption (Covidien PLC)

Limitation on Restrictions on Subsidiary Dividends and Other Distributions. The Guarantor No Obligor will not, and or will not permit any Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary, other than the Borrower, to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits, owned by the Guarantor such Obligor or any Subsidiary, or pay any Debt owed by any Subsidiary to the Guarantor an Obligor or any Subsidiary that is a direct or indirect parent of such former Subsidiary, (b) make loans or advances to the Guarantor any Obligor or any Subsidiary that is a direct or indirect parent of such former Subsidiary or (c) transfer any of its properties or assets to the Guarantor any Obligor or any such Subsidiary that is a direct or indirect parent of such former Subsidiary (or, solely in the case of clause (xii) hereof, any other Consolidated Person in respect of such Nonrecourse Debt), except for such encumbrances or restrictions existing under or by reason of:

Appears in 2 contracts

Samples: Revolving Credit Agreement (ADT Corp), Credit Agreement (Tyco International LTD)

Limitation on Restrictions on Subsidiary Dividends and Other Distributions. The Guarantor Borrower will not, and will not permit any Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary (a “Subject Subsidiary, other than the Borrower”), to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits, owned by the Guarantor Borrower or any Subsidiary, or pay any Debt owed by any Subject Subsidiary to the Guarantor Borrower or any Subsidiary that is a direct or indirect parent of such former Subject Subsidiary, (b) make loans or advances to the Guarantor Borrower or any Subsidiary that is a direct or indirect parent of such former Subject Subsidiary or (c) transfer any of its properties or assets to the Guarantor Borrower or any such Subsidiary that is a direct or indirect parent of such former Subject Subsidiary (or, solely in the case of clause (xii) hereof, any other Consolidated Person in respect of such Nonrecourse Debt), except for such encumbrances or restrictions existing under or by reason of:

Appears in 2 contracts

Samples: Term Loan Credit Agreement (TYCO INTERNATIONAL PLC), Credit Agreement (TYCO INTERNATIONAL PLC)

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Limitation on Restrictions on Subsidiary Dividends and Other Distributions. The Guarantor Each Obligor will not, and will not permit any Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Subsidiary, other than the Borrower, to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits, owned by the Guarantor such Obligor or any Subsidiary, or pay any Debt owed by any Subsidiary to the Guarantor an Obligor or any Subsidiary that is a direct or indirect parent of such former Subsidiary, (b) make loans or advances to the Guarantor any Obligor or any Subsidiary that is a direct or indirect parent of such former Subsidiary or (c) transfer any of its properties or assets to the Guarantor any Obligor or any such Subsidiary that is a direct or indirect parent of such former Subsidiary (or, solely in the case of clause (xii) hereof, any other Consolidated Person in respect of such Nonrecourse Debt), except for such encumbrances or restrictions existing under or by reason of:

Appears in 1 contract

Samples: Credit Agreement (Tyco International LTD)

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