Common use of Limitations on Debt Payments and Amendments Clause in Contracts

Limitations on Debt Payments and Amendments. (a) The Borrower will not prepay, repurchase or redeem or otherwise defease any Subordinated Notes (it being understood that any payment of principal prior to April 6, 2014 shall be deemed a prepayment for purposes of this Section 10.7); provided, however, that so long as (i) no Default or Event of Default has occurred and is continuing and (ii) on the date of such determination the Consolidated Senior Debt to Consolidated EBITDA Ratio is less than 3.50 to 1.00, the Borrower may prepay, repurchase or redeem any Subordinated Notes; provided, that to the extent such prepayment, repurchase or redemption is made with the proceeds of subordinated Indebtedness that is permitted by Section 10.1 (other than Permitted Additional Subordinated Notes), such subordinated Indebtedness shall have terms material to the interests of the Lenders not materially less advantageous to the Lenders than those of the Subordinated Notes. (b) The Borrower will not waive, amend, modify, terminate or release the Subordinated Note Indenture to the extent that any such waiver, amendment, modification, termination or release would be adverse to the Lenders in any material respect.

Limitations on Debt Payments and Amendments. (a) The Borrower will not prepay, repurchase or redeem or otherwise defease any Subordinated Notes (it being understood that any payment of principal prior to April 6, 2014 shall be deemed a prepayment for purposes of this Section 10.7); provided, however, that so long as (i) no Default or Event of Default has occurred and is continuing and (ii) on the date of such determination the Consolidated Senior Debt to Consolidated EBITDA Ratio is less than 3.50 to 1.00continuing, the Borrower may prepay, repurchase or redeem any Subordinated Notes; provided, that to Notes (x) for an aggregate price not in excess of the extent Available Amount at the time of such prepayment, repurchase or redemption is made redemption, or (y) with the proceeds of subordinated Indebtedness that (1) is permitted by Section 10.1 (other than Permitted Additional Subordinated Notes), such subordinated Indebtedness shall have ) and (2) has terms material to the interests of the Lenders not materially less advantageous to the Lenders than those of the Subordinated Notes. (b) The Borrower will not waive, amend, modify, terminate or release the Subordinated Note Indenture to the extent that any such waiver, amendment, modification, termination or release would be adverse to the Lenders in any material respect.