Common use of Limitations on Restrictions on Subsidiary Distributions; No New Negative Pledge Clause in Contracts

Limitations on Restrictions on Subsidiary Distributions; No New Negative Pledge. Except pursuant to the Loan Documents and any agreements governing Indebtedness permitted by Section 8.1(b), (d), (e) or (k) (Indebtedness) (in the case of agreements permitted by such clauses, any prohibition or limitation referred to in clause (b) below shall only be effective against the assets permitted hereunder to secure such permitted Indebtedness), (a) no Loan Party shall suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of such Loan Party to pay dividends or make any other distribution or transfer of funds or assets or make loans or advances to or other Investments in, or pay any Indebtedness owed to, any other Loan Party and (b) no Loan Party shall enter into or suffer to exist or become effective any agreement prohibiting or limiting the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, to secure the Obligations, including any agreement requiring any other Indebtedness or Contractual Obligation to be equally and ratably secured with the Obligations, except for the following:

Appears in 4 contracts

Samples: Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)

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Limitations on Restrictions on Subsidiary Distributions; No New Negative Pledge. Except pursuant to the Loan Documents and any agreements governing Indebtedness permitted by Section 8.1(b), (d), (e) or (k) (Indebtedness) (in the case of agreements permitted by such clauses, any prohibition or limitation referred to in clause (b) below shall only be effective against the assets permitted hereunder to secure such permitted Indebtedness), (a) no Loan Party Group Member shall suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of such Loan Party Subsidiary to pay dividends or make any other distribution or transfer of funds or assets or make loans or advances to or other Investments in, or pay any Indebtedness owed to, any other Loan Party and (b) no Loan Party shall enter into or suffer to exist or become effective any agreement prohibiting or limiting the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, to secure the Obligations, including any agreement requiring any other Indebtedness or Contractual Obligation to be equally and ratably secured with the Obligations, except for the following:

Appears in 2 contracts

Samples: Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)

Limitations on Restrictions on Subsidiary Distributions; No New Negative Pledge. Except pursuant to the Loan Documents and any agreements governing purchase money or mortgage financing Indebtedness or Capital Lease Obligations permitted by Section 8.1(b), (d), (e) or (k) (Indebtedness) (in the case of agreements permitted by such clauses, any prohibition or limitation referred to in clause (b) below shall only be effective against the assets permitted hereunder to secure such permitted Indebtednessfinanced thereby), no Group Member shall (a) no Loan Party shall suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of such Loan Party Subsidiary to pay dividends or make any other distribution or transfer of funds or assets or make loans or advances to or other Investments in, or pay any Indebtedness owed to, any other Loan Party and Group Member or (b) no Loan Party shall enter into or suffer to exist or become effective any agreement prohibiting or limiting the ability of any Loan Party Group Member to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, to secure the Obligations, including any agreement requiring any other Indebtedness or Contractual Obligation to be equally and ratably secured with the Obligations, except for the following:

Appears in 1 contract

Samples: Credit Agreement (Tenet Healthcare Corp)

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Limitations on Restrictions on Subsidiary Distributions; No New Negative Pledge. Except pursuant to the Loan Documents and any agreements governing Indebtedness permitted by Section 8.1(b), (d), (e) or (k) (Indebtedness) (in the case of agreements permitted by such clauses, any prohibition or limitation referred to in clause (b) below shall only be effective against the assets permitted hereunder to secure such permitted Indebtedness), (a) no Loan Party shall suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of such Loan Party to pay dividends or make any other distribution or transfer of funds or assets or make loans or advances to or other Investments in, or pay any Indebtedness owed to, any other Loan Party and (b) no Loan Party shall enter into or suffer to exist or become effective any agreement prohibiting or limiting the ability of any Loan Party to AMENDED AND RESTATED CREDIT AGREEMENT XXXXX HEALTHCARE CORPORATION create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, to secure the Obligations, including any agreement requiring any other Indebtedness or Contractual Obligation to be equally and ratably secured with the Obligations, except for the following:

Appears in 1 contract

Samples: Credit Agreement (Tenet Healthcare Corp)

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