Limitations on Payments on Subordinated Debt. The Borrower will not, and will not permit any Subsidiary to, make any payment in respect of interest on, principal of, or otherwise relating to, the borrower's subordinated debt securities issued in connection with the Structured Securities if, after giving effect to such payment, a Default or Event of Default would exist.
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Samples: Revolving Credit Agreement (Southern Union Co), Revolving Credit Agreement (Southern Union Co), Term Loan Credit Agreement (Southern Union Co)
Limitations on Payments on Subordinated Debt. The -------------------------------------------- Borrower will not, and will not permit any Subsidiary to, make any payment in respect of interest on, principal of, or otherwise relating to, the borrower's subordinated debt securities issued in connection with the Structured Securities if, after giving effect to such payment, a Default or Event of Default would exist.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Southern Union Co), Revolving Credit Agreement (Southern Union Co)
Limitations on Payments on Subordinated Debt. The Borrower will not, and will not permit any Subsidiary to, make any payment in respect of interest on, principal of, or otherwise relating to, the borrowerBorrower's subordinated debt securities issued in connection with the Structured Securities if, after giving effect to such payment, a Default or Event of Default would exist.
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Limitations on Payments on Subordinated Debt. The Borrower Borrowers will not, and will not permit any Subsidiary of their respective Subsidiaries to, make any payment in respect of interest on, principal of, or otherwise relating to, the borrower's Parent’s subordinated debt securities issued in connection with the Structured Securities if, after giving effect to such payment, a Default or Event of Default would exist.
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