Common use of Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries Clause in Contracts

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, the Company or any other Restricted Subsidiary, or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; (ii) applicable law; (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv) customary non- assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facility.

Appears in 2 contracts

Samples: Tci Satellite Entertainment Inc, Tci Satellite Entertainment Inc

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Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, or make any Investment in, the Company or any other Restricted Subsidiary, or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Amended Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Dateagreement being amended, restated, reviewed, replaced or refinanced; (ii) applicable law; (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv) customary non- assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facility.an

Appears in 1 contract

Samples: Polymer Group Inc

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company Holdings shall not, and shall not cause or permit any of its Restricted Subsidiary Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to permit to exist or become effective effective, by operation of the charter of such Restricted Subsidiary or by reason of any agreement, instrument, judgment, decree, rule, order, statute or governmental regulation, any encumbrance or restriction on the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, Capital Stock; (b) make loans or advances to, or guarantee pay any Indebtedness or other obligations of, the Company obligation owed to Holdings or any other of its Restricted Subsidiary, Subsidiaries; or (c) transfer any of its properties property or assets to the Company or any other Restricted SubsidiaryHoldings, except for such encumbrances or restrictions existing under or by reason of of: (i) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; (ii1) applicable law; (iii2) this Indenture; (3) customary non-assignment provisions of any lease governing a leasehold interest of Holdings or any Restricted Subsidiary; (4) any instrument governing Acquired Indebtedness or Equity Interests of an Acquired Person acquired by the Company Preferred Stock, which encumbrance or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are restriction is not applicable to the Company or any Restricted SubsidiaryPerson, or the properties or assets of the Company or any Restricted SubsidiaryPerson, other than the Acquired Person; (iv) customary non- assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on , or the property or assets of the Person, so acquired; (vi5) any agreement for agreements existing on the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause Issue Date (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or including the Senior Subordinated Note Indenture; or (ixNotes and the Credit Agreement) any as such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter agreements are from time to time in effect; provided, however, that any amendments or modifications of such agreements that affect the terms and conditions encumbrances or restrictions of the types subject to this covenant shall not result in such encumbrances or restrictions being less favorable to Holdings in any material respect, as determined in good faith by the Board of Directors of Holdings, than the provisions as in effect before giving effect to the respective amendment or modification; (6) any restriction with respect to such a Restricted Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; (7) an agreement effecting a refinancing, replacement or substitution of Indebtedness issued, assumed or incurred pursuant to an agreement referred to in clause (2), (4) or (5) above or any other agreement evidencing Indebtedness permitted under this Indenture; provided, however, that the provisions relating to such encumbrance or restriction contained in any such refinancing, replacement or substitution agreement or any such other agreement are no less favorable to Holdings in any material respect as determined in good faith by the Board of Directors of Holdings than the provisions relating to such encumbrance or restriction contained in agreements referred to in such clause (2), (4) or (5); (8) restrictions on the transfer of the assets subject to any Lien imposed by the holder of such Lien; (9) a licensing agreement to the extent such restrictions or encumbrances limit the transfer of property subject to such licensing agreement; (10) restrictions relating to Subsidiary Preferred Stock that require that due and payable dividends thereon to be paid in full prior to dividends on such Subsidiary's common stock; or (11) any agreement or charter provision evidencing Indebtedness or Capital Stock permitted under this Indenture; provided, however, that the provisions relating to such encumbrance or restriction contained in such agreement or charter provision are not more restrictive less favorable to Holdings in any material respect as determined in good faith by the Board of Directors of Holdings than those the provisions relating to such encumbrance or restriction contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facilitythis Indenture.

Appears in 1 contract

Samples: WTNH Broadcasting Inc

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, the Company or any other Restricted Subsidiary, or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; providedPROVIDED, howeverHOWEVER, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; (ii) applicable law; (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred Incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); providedPROVIDED, howeverHOWEVER, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv) customary non- non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; providedPROVIDED, howeverHOWEVER, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; providedPROVIDED, howeverHOWEVER, that the such encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; providedPROVIDED, howeverHOWEVER, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facility.

Appears in 1 contract

Samples: Timber Tech Inc

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any of its Restricted Subsidiary Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to permit to exist or become effective effective, by operation of the charter of such Restricted Subsidiary or by reason of any agreement, instrument, judgment, decree, rule, order, statute or governmental regulation, any encumbrance or restriction on the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, Capital Stock; (b) make loans or advances to, or guarantee pay any Indebtedness or other obligations of, obligation owed to the Company or any other of its Restricted Subsidiary, Subsidiaries; or (c) transfer any of its properties property or assets to the Company or any other Restricted SubsidiaryCompany, except for such encumbrances or restrictions existing under or by reason of of: (i) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; (ii1) applicable law; (iii2) this Indenture; (3) customary nonassignment provisions of any instrument lease governing Indebtedness or Equity Interests a leasehold interest of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary; (4) any instrument governing Acquired Indebtedness or Acquired Preferred Stock, which encumbrance or restriction is not applicable to any Person, or the properties or assets of the Company or any Restricted SubsidiaryPerson, other than the Acquired Person; (iv) customary non- assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on , or the property or assets of the Person, so acquired; (vi5) any agreement for agreements existing on the sale or disposition of Issue Date (including the Equity Interests or assets of any Restricted Subsidiary; provided, however, that Credit Facilities) as such encumbrances and restrictions described in this clause (vi) agreements are only applicable from time to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter time in effect; provided, however, that any amendments or modifications of such agreements that affect the terms and conditions encumbrances or restrictions of the types subject to this covenant shall not result in such encumbrances or restrictions being less favorable to the Company in any material respect, as determined in good faith by the Board of Directors of the Company, than the provisions as in effect before giving effect to the respective amendment or modification; (6) any restriction with respect to such a Restricted Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; (7) an agreement effecting a refinancing, replacement or substitution of Indebtedness issued, assumed or incurred pursuant to an agreement referred to in clause (2), (4) or (5) above or any other agreement evidencing Indebtedness permitted under this Indenture; provided, however, that the provisions relating to such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein any such refinancing, replacement or substitution agreement or any such other agreement are no less favorable to the contrary notwithstanding, Company in any material respect as determined in good faith by the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations Board of Directors of the Company than the provisions relating to such encumbrance or restriction contained in agreements referred to in such clause (2), (4) or (5); (8) restrictions on the transfer of the assets subject to any Lien imposed by the holder of such Lien; (9) a licensing agreement to the extent such restrictions or encumbrances limit the transfer of property subject to such licensing agreement; (10) restrictions relating to Subsidiary Preferred Stock that require that due and payable dividends thereon to be paid in full prior to dividends on such Subsidiary’s common stock; or (11) any agreement or charter provision evidencing Indebtedness or Capital Stock permitted under this Indenture; provided, however, that the Restricted Subsidiaries under provisions relating to such encumbrance or restriction contained in such agreement or charter provision are not less favorable to the Senior Credit FacilityCompany in any material respect as determined in good faith by the Board of Directors of the Company than the provisions relating to such encumbrance or restriction contained in this Indenture.

Appears in 1 contract

Samples: Indenture (Lin Television Corp)

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to to: (aA) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (bB) make loans or advances to, or guarantee guaranty any Indebtedness or other obligations of, the Company or any other Restricted Subsidiary, Subsidiary or (cC) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i1) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Dateagreement being amended, restated, renewed, replaced or refinanced; (ii2) applicable law; (iii3) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness instrument was incurred entered into by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv4) customary non- non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practicesleases, licenses or contracts; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facility.5)

Appears in 1 contract

Samples: Tanner Chemicals Inc

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, or make any Investment in, the Company or any other Restricted Subsidiary, Subsidiary or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Existing Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no not materially more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; agreement being amended, restated, reviewed, replaced or refinanced, (ii) applicable law; , (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred Incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; , (iv) customary non- non-assignment provisions in leases leases, licenses or other agreements entered into in the ordinary course of business and consistent with past practices; , (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (viv) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; , (viivi) refinancing Indebtedness indebtedness permitted under clause (hg) of the second paragraph of Section 4.04; provided, however, that the such encumbrances and restrictions contained in the agreements governing such Indebtedness are no not materially more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; , (vii) the Indenture and the Securities and (viii) this Indenture or Purchase Money Indebtedness that imposes restrictions of the Senior Subordinated Note Indenture; or nature described in clause (ixc) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect above on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facilityproperty acquired.

Appears in 1 contract

Samples: Indenture (America Bank Note Holographics Inc)

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee guaranty any Indebtedness or other obligations of, the Company or any other Restricted Subsidiary, Subsidiary or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case Facility as in effect on the Issue Date, Date and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate contains terms and conditions with respect to such encumbrances or restrictions than those contained in that are customary at the Senior Credit Facility on time for similar credit facilities, as determined by the Issue DateBoard of Directors of the Company; (ii) applicable lawlaw or regulations, including regarding restrictions on the transfer of assets required or imposed by any regulatory authority having jurisdiction over the Company or any Restricted Subsidiary or any of their respective businesses; (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent any such Indebtedness was incurred or Equity Interests were Incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, provided that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iviv)(A) non-assignment provisions that restrict in a customary manner the subletting, assignment or transfer of any property or asset that is subject to a lease, license or similar contract, or the assignment or transfer of any lease, license or other contract, (B) customary non- assignment provisions restricting dispositions of real property interests set forth in leases any easement or similar agreements of the Company or any Restricted Subsidiary or (C) restrictions on cash or other deposits or net worth imposed by customers under agreements entered into in the ordinary course of business and consistent with past practicesbusiness; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business or Capital Lease Obligations permitted under Section 4.04 and Section 4.18 that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Permitted Refinancing Indebtedness permitted under clause (hv) of the second paragraph of Section 4.04; provided, however, provided that the such encumbrances and restrictions contained in the agreements governing such Indebtedness are no not materially more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing, as determined by the Board of Directors of the Company; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under contained in any other security agreement, instrument or document hereafter in effect; provided, however, indenture governing debt securities that the terms and conditions of any such encumbrance or restriction are not materially more restrictive than those contained in this Indenture, as determined by the Senior Credit Facility as Board of Directors of the Company; (ix) customary restrictions in effect any instrument governing Indebtedness of a Foreign Subsidiary which Indebtedness was incurred and outstanding (without taking into account any reclassification of Indebtedness) under clause (iv) of the second paragraph of Section 4.04; (x) any agreement or instrument existing on the Issue Date; (xi) any agreement or instrument relating to Indebtedness of an Accounts Receivables Subsidiary or the sale or financing of accounts receivables or interests therein by an Accounts Receivables Subsidiary; or (xii) any agreement or instrument governing or relating to Indebtedness or Equity Interests of a Subsidiary Guarantor, provided that such encumbrances or restrictions are terminated or cease to exist upon the release of such Subsidiary Guarantor from its obligation under its Guaranty. Anything Nothing contained herein to the contrary notwithstanding, in this Section 4.16 shall prevent the Company and its Subsidiaries shall or any Restricted Subsidiary from (a) creating, incurring, assuming or suffering to exist any Liens otherwise permitted in no event be prohibited Section 4.18 by itself or restrained from granting, and causing to be effective, any lien (b) restricting the sale or security interest securing the obligations other disposition of assets of the Company and or any of its Restricted Subsidiaries that secure Indebtedness of the Company or any of the Restricted Subsidiaries under by the Senior Credit Facilitycustomary terms of any Lien incurred in compliance with Section 4.18.

Appears in 1 contract

Samples: Indenture (Gentek Inc)

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Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any of its Restricted Subsidiary Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to permit to exist or become effective effective, by operation of the charter of such Restricted Subsidiary or by reason of any agreement, instrument, judgment, decree, rule, order, statute or governmental regulation, any encumbrance or restriction on the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, Capital Stock; (b) make loans or advances to, or guarantee pay any Indebtedness or other obligations of, obligation owed to the Company or any other of its Restricted Subsidiary, Subsidiaries; or (c) transfer any of its properties property or assets to the Company or any other Restricted SubsidiaryCompany, except for such encumbrances or restrictions existing under or by reason of of: (i) the Senior Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; (ii1) applicable law; (iii2) this Indenture; (3) customary nonassignment provisions of any instrument lease governing Indebtedness or Equity Interests a leasehold interest of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary; (4) any instrument governing Acquired Indebtedness or Acquired Preferred Stock, which encumbrance or restriction is not applicable to any Person, or the properties or assets of the Company or any Restricted SubsidiaryPerson, other than the Acquired Person; (iv) customary non- assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on , or the property or assets of the Person, so acquired; (vi5) any agreement for agreements existing on March 3, 1998 (including the sale or disposition of Credit Agreement and the Equity Interests or assets of any Restricted Subsidiary; provided, however, that Existing Company Notes) as such encumbrances and restrictions described in this clause (vi) agreements are only applicable from time to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter time in effect; provided, however, that any amendments or modifications of such agreements that affect the terms and conditions encumbrances or restrictions of the types subject to this covenant shall not result in such encumbrances or restrictions being less favorable to the Company in any material respect, as determined in good faith by the Board of Directors of the Company, than the provisions as in effect before giving effect to the respective amendment or modification; (6) any restriction with respect to such a Restricted Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; (7) an agreement effecting a refinancing, replacement or substitution of Indebtedness issued, assumed or incurred pursuant to an agreement referred to in clause (2), (4) or (5) above or any other agreement evidencing Indebtedness permitted under this Indenture; provided, however, that the provisions relating to such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein any such refinancing, replacement or substitution agreement or any such other agreement are no less favorable to the contrary notwithstanding, Company in any material respect as determined in good faith by the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations Board of Directors of the Company than the provisions relating to such encumbrance or restriction contained in agreements referred to 42 -36- in such clause (2), (4) or (5); (8) restrictions on the transfer of the assets subject to any Lien imposed by the holder of such Lien; (9) a licensing agreement to the extent such restrictions or encumbrances limit the transfer of property subject to such licensing agreement; (10) restrictions relating to Subsidiary Preferred Stock that require that due and payable dividends thereon to be paid in full prior to dividends on such Subsidiary's common stock; or (11) any agreement or charter provision evidencing Indebtedness or Capital Stock permitted under this Indenture; provided, however, that the Restricted Subsidiaries under provisions relating to such encumbrance or restriction contained in such agreement or charter provision are not less favorable to the Senior Credit FacilityCompany in any material respect as determined in good faith by the Board of Directors of the Company than the provisions relating to such encumbrance or restriction contained in this Indenture.

Appears in 1 contract

Samples: Lin Television Corp

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, the Company or any other Restricted Subsidiary, or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Credit Facility, any Basic Document Facility or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Date; (ii) applicable law; (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv) customary non- non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practicespractices and non-assignment provisions in agreements between the Company or any Restricted Subsidiary and the NRTC with respect to DBS services; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facility.

Appears in 1 contract

Samples: Digital Television Services of Kansas LLC

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, the Company or any other Restricted Subsidiary, Subsidiary or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Bank Credit Facility; provided, however, that in no event shall Comcast Cellular (so long as it is a Subsidiary of the Company) be subject to any Basic Document encumbrance or restriction with respect to actions taken by it, (ii) any other agreement of the Company or the any Restricted Subsidiaries Subsidiary outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereofthereof (each, a "refinancing"); provided, however, that any (x) no such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility such agreement on the Issue DateDate and (y) in no event shall any such refinancing cause Comcast Cellular (so long as it is a Subsidiary of the Company) to be subject to any such encumbrance or restriction with respect to actions taken by it; (iiiii) applicable law; (iiiiv) any instrument governing Indebtedness or Equity Interests agreement of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness agreement was incurred created by such Acquired Person in connection with, as a result of or in contemplation of such acquisition)) and any refinancing thereof; provided, however, that no such refinancing is more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in such agreement at the time of such acquisition; and provided, further, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (ivv) customary non- non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (vvi) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions only on the property so acquired; (vivii) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vivii) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (viiviii) refinancing Indebtedness permitted under clause (hvii) of the second paragraph of Section 4.044.04(b); provided, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; (viiiix) this Indenture with respect to a Securitization Subsidiary, an agreement relating to Indebtedness of a Securitization Subsidiary which is permitted under Section 4.04 or the Senior Subordinated Note Indenturepursuant to an agreement relating to a Permitted Receivables Financing by a Securitization Subsidiary; or (ixx) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that this Indenture. The Company's obligations to comply with this covenant will terminate if and when the terms Securities are rated Investment Grade by both Xxxxx'x and conditions of any such encumbrance or restriction are not more restrictive than those contained in S&P and the Senior Credit Facility as in effect on the Issue Date. Anything contained herein Company delivers an Officers' Certificate to the contrary notwithstanding, Trustee certifying as to the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facilitysame.

Appears in 1 contract

Samples: Indenture (Comcast Cellular Holdings Inc)

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall will not, and shall will not cause or permit any of its Restricted Subsidiary Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to to: (a) (i) pay dividends or make any other distributions to the Company or any other of its Restricted Subsidiary Subsidiaries (1) on its Equity Interests Capital Stock or (2) with respect to any other interest or participation in, or measured by, its profits, or (ii) pay any Indebtedness owed to the Company or any other of its Restricted Subsidiary, Subsidiaries; (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, to the Company or any other of its Restricted Subsidiary, Subsidiaries; or (c) sell, lease or transfer any of its properties or assets to the Company or any other of its Restricted Subsidiary, Subsidiaries; except (in each case) for such encumbrances or restrictions existing under or by reason of of: (i1) the Senior Credit Facility, any Basic Document contractual encumbrances or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as restrictions in effect on the Issue Date, including pursuant to the New Credit Facility and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in its related documentation and the Senior Credit Facility on the Issue DateSubordinated Indenture; (ii2) applicable lawthis Indenture and the Securities; (iii3) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv) customary non- assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness purchase money obligations for property acquired in the ordinary course of business that only imposes encumbrances and impose restrictions of the nature discussed in clause (c) above on the property so acquired; (vi4) applicable law or any applicable rule, regulation or order; (5) any agreement or other instrument of a Person acquired by the Company or any Restricted Subsidiary in existence at the time of such acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; (6) contracts for the sale of assets, including, without limitation, customary restrictions with respect to a Subsidiary pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Equity Interests Capital Stock or assets of any Restricted such Subsidiary; provided(7) secured Indebtedness otherwise permitted to be incurred pursuant to Sections 4.04 and 4.18 of this Indenture that limit the right of the debtor to dispose of the assets securing such Indebtedness; (8) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; (9) other Indebtedness of Foreign Subsidiaries permitted to be incurred subsequent to the Issue Date pursuant to Section 4.04 of this Indenture; (10) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary course of business; (11) customary provisions contained in leases and other agreements entered into in the ordinary course of business; (12) any encumbrances or restrictions of the type referred to in clauses (a), however(b) and (c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1) through (11) above, provided that such encumbrances and restrictions described amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) good faith judgment of the second paragraph Board of Section 4.04; providedDirectors of the Company, however, that the encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate with respect to such dividend and other payment restrictions than those contained in the agreements governing the Indebtedness being refinanced immediately dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing; (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix13) any such customary encumbrance encumbrances or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, restrictions that the terms and conditions of any such encumbrance or restriction are not no more restrictive than those contained in the Senior New Credit Facility as in effect on the Issue Date. Anything contained herein to ; or (14) which will not in the contrary notwithstanding, aggregate cause the Company and its Subsidiaries shall in no event be prohibited not to have the funds necessary to pay the principal of, premium, if any, or restrained from granting, and causing to be effective, any lien or security interest securing on the obligations of the Company and the Restricted Subsidiaries under the Senior Credit FacilitySecurities.

Appears in 1 contract

Samples: Indenture (Graham Packaging Holdings Co)

Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. The Company shall not, and shall not cause or permit any Restricted 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 Restricted Subsidiary to (a) pay dividends or make any other distributions to the Company or any other Restricted Subsidiary on its Equity Interests or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any other Restricted Subsidiary, (b) make loans or advances to, or guarantee any Indebtedness or other obligations of, or make any Investment in, the Company or any other Restricted Subsidiary, or (c) transfer any of its properties or assets to the Company or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of (i) the Senior Amended Credit Facility, any Basic Document or any other agreement of the Company or the Restricted Subsidiaries outstanding on the Issue Date, in each case as in effect on the Issue Date, and any amendments, restatements, renewals, replacements or refinancings thereof; provided, however, that any such amendment, -40- restatement, renewal, replacement or refinancing is no more restrictive in the aggregate with respect to such encumbrances or restrictions than those contained in the Senior Credit Facility on the Issue Dateagreement being amended, restated, reviewed, replaced or refinanced; (ii) applicable law; (iii) any instrument governing Indebtedness or Equity Interests of an Acquired Person acquired by the Company or any Restricted Subsidiary as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred Incurred by such Acquired Person in connection with, as a result of or in contemplation of such acquisition); provided, however, that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary, or the properties or assets of the Company or any Restricted Subsidiary, other than the Acquired Person; (iv) customary non- non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; (v) Purchase Money Indebtedness for property acquired in the ordinary course of business that only imposes encumbrances and restrictions on the property so acquired; (vi) any agreement for the sale or disposition of the Equity Interests or assets of any Restricted Subsidiary; provided, however, that such encumbrances and restrictions described in this clause (vi) are only applicable to such Restricted Subsidiary or assets, as applicable, and any such sale or disposition is made in compliance with Section 4.05 to the extent applicable thereto; (vii) refinancing Indebtedness permitted under clause (h) of the second paragraph of Section 4.04; provided, however, that the such encumbrances and restrictions contained in the agreements governing such Indebtedness are no more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing; or (viii) this Indenture or the Senior Subordinated Note Indenture; or (ix) any such customary encumbrance or restriction existing under any other security agreement, instrument or document hereafter in effect; provided, however, that the terms and conditions of any such encumbrance or restriction are not more restrictive than those contained in the Senior Credit Facility as in effect on the Issue Date. Anything contained herein to the contrary notwithstanding, the Company and its Subsidiaries shall in no event be prohibited or restrained from granting, and causing to be effective, any lien or security interest securing the obligations of the Company and the Restricted Subsidiaries under the Senior Credit Facility.

Appears in 1 contract

Samples: Fabrene Group Inc

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