Common use of Limitation on Restrictive Covenants Clause in Contracts

Limitation on Restrictive Covenants. Permit to exist, at any time, any consensual restriction limiting the ability (whether by covenant, event of default, subordination or otherwise) of any Subsidiary to (a) pay dividends or make any other distributions on shares of its capital stock held by the Borrower or any other Subsidiary, (b) pay any obligation owed to the Borrower or any other Subsidiary, (c) make any loans or advances to or investments in the Borrower or in any other Subsidiary, (d) transfer any of its property or assets to the Borrower or any other Subsidiary or (e) create any Lien upon its property or assets whether now owned or hereafter acquired or upon any income or profits therefrom, except that this Section 4.16 shall not apply to Permitted Restrictive Covenants.

Limitation on Restrictive Covenants. Permit to exist, at any ----------------------------------- time, any consensual restriction limiting the ability (whether by covenant, event of default, subordination or otherwise) of any Subsidiary to (a) pay dividends or make any other distributions on shares of its capital stock held by the Borrower Company or any other Subsidiary, (b) pay any obligation owed to the Borrower Company or any other Subsidiary, (c) make any loans or advances to or investments in the Borrower Company or in any other Subsidiary, (d) transfer any of its property or assets to the Borrower Company or any other Subsidiary or (e) create any Lien upon its property or assets whether now owned or hereafter acquired or upon any income or profits therefrom, except that this Section 4.16 4.11 shall not apply to Permitted Restrictive Covenants.

Limitation on Restrictive Covenants. Permit to exist, at any time, any consensual restriction limiting the ability (whether by covenant, event of default, subordination or otherwise) of any Material Subsidiary to (a) pay dividends or make any other distributions on shares of its capital stock held by the Borrower or any other Subsidiary, (b) pay any obligation owed to the Borrower or any other Subsidiary, (c) make any loans or advances to or investments in the Borrower or in any other Subsidiary, (d) transfer any of its property or assets to the Borrower or any other Subsidiary or (e) create any Lien upon its property or assets whether now owned or hereafter acquired or upon any income or profits therefrom, except that this Section 4.16 4.18 shall not apply to Permitted Restrictive Covenants.

Limitation on Restrictive Covenants. Permit to exist, at any time, any consensual restriction limiting the ability (whether by covenant, event of default, subordination or otherwise) of any Subsidiary to (ai) pay dividends or make any other distributions on shares of its capital stock held by the Borrower or any other Subsidiary, (bii) pay any obligation owed to the Borrower or any other Subsidiary, (ciii) make any loans or advances to or investments in the Borrower or in any other Subsidiary, (div) transfer any of its property or assets to the Borrower or any other Subsidiary or (ev) create any Lien upon its property or assets whether now owned or hereafter acquired or upon any income or profits therefrom, except that this Section 4.16 5.10 shall not apply to Permitted Restrictive Covenants.

Limitation on Restrictive Covenants. Permit to exist, at any time, any consensual restriction limiting the ability (whether by covenant, event of default, subordination or otherwise) of any Material Subsidiary to (a) pay dividends or make any other distributions on shares of its capital stock Capital Securities held by the Borrower or any other Subsidiary, (b) pay any obligation owed to the Borrower or any other Subsidiary, (c) make any loans or advances to or investments in the Borrower or in any other Subsidiary, (d) transfer any of its property or assets to the Borrower or any other Subsidiary or (e) create any Lien upon its property or assets whether now owned or hereafter acquired or upon any income or profits therefrom, except that this Section 4.16 4.18 shall not apply to Permitted Restrictive Covenants.