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

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (A) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party, (B) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party, (C) to make loans or advances to any Loan Party or (D) to transfer any of its property or assets to any Loan Party, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in this Section 7.02(i) shall prohibit or restrict compliance with:

Appears in 4 contracts

Samples: Credit Agreement (Boxlight Corp), Credit Agreement (Stronghold Digital Mining, Inc.), Credit Agreement (Boxlight Corp)

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Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party the Borrower (Aa) to pay dividends or to make any other distribution on any shares of Equity Interests Capital Stock of such Subsidiary owned by any Loan Partysuch Borrower, (Bb) to pay or prepay or to subordinate any Indebtedness owed to any Loan PartySubsidiary of such Borrower, (Cc) to make loans or advances to any Loan Party or (Dd) to transfer any of its property or assets to any Loan Party, or permit any of its their Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (a) through (d) of this Section 7.02(i) 7.09 shall prohibit or restrict compliance with:

Appears in 1 contract

Samples: Credit Agreement (Deep Down, Inc.)

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Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party the Borrower (Ai) to pay dividends to any Loan Party or to make any other distribution to any Loan Party on any shares of Equity Interests of such Subsidiary owned by any Loan PartySubsidiary, (Bii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party, (Ciii) to make loans or advances to any Loan Party or (Div) to transfer any of its property or assets to any Loan Party, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(i7.02(k) shall prohibit or restrict compliance with:

Appears in 1 contract

Samples: Financing Agreement (Ezcorp Inc)

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