Negative Pledges; Subsidiary Restrictions Sample Clauses

Negative Pledges; Subsidiary Restrictions. The Borrower will not, nor will permit any Subsidiary to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Bank which would (i) prohibit the Borrower or such Subsidiary from granting, or otherwise limit the ability of the Borrower or such Subsidiary to grant, to the Bank any Lien on any assets or properties of the Borrower or such Subsidiary (other than pursuant to agreements creating Liens under Section 6.12(j)), or (ii) require the Borrower or such Subsidiary to xxxxx x Xxxx to any other Person if the Borrower or such Subsidiary grants any Lien to the Bank. The Borrower will not permit any Subsidiary to place or allow any restriction, directly or indirectly, on the ability of such Subsidiary to (a) pay Restricted Payments on or with respect to such Subsidiary’s Equity Interests or (b) make loans or other cash payments to the Borrower.

Negative Pledges; Subsidiary Restrictions. Neither the Borrower nor any of its Subsidiaries shall enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Lenders that would (a) prohibit the Borrower or any Subsidiary from granting, or otherwise limit the ability of the Borrower or any Subsidiary to grant, to the Lenders any Lien on any of the assets or properties of the Borrower or any Subsidiary other than such agreement, bond note or other instrument that prohibits the assignment of, or granting of a Lien in favor of the Administrative Agent on, such agreement, bond, note or other instrument; provided that the Borrower and its Subsidiaries shall use commercially reasonable efforts to permit the assignment of, and granting a Lien in favor of the Administrative Agent on, any such agreement, bond, note or other instrument, or (b) require the Borrower or any Subsidiary to xxxxx x Xxxx to any other Person if the Borrower or any Subsidiary grants any Lien to the Lenders, in each case except for any such agreement, bond, note or other instrument interest with respect to the property subject to purchase money financings and Capital Lease agreements permitted hereby. Neither the Borrower nor any of its Subsidiaries shall place or allow any restriction, directly or indirectly, on the ability of any such Subsidiary to (x) pay dividends or any distributions on or with respect to such Subsidiary’s Equity Interests or (y) make loans or other cash payments to the Borrower, in each case except for restrictions placed or allowed by any Person with respect to the property subject to purchase money financings and Capital Lease agreements permitted hereunder.

Negative Pledges; Subsidiary Restrictions. Neither the Borrower nor the Subsidiaries shall enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Lenders that would (a) prohibit any of the Borrower and the Subsidiaries from granting, or otherwise limit the ability of such Person to grant, to the Lenders any Lien on any of the assets or properties of such Person, or (b) require any of the Borrower and the Subsidiaries to xxxxx x Xxxx to any other Person if such Borrower or such Subsidiary grants any Lien to the Lenders, in each case except for any such agreement, bond, note or other instrument interest with respect to the property subject to purchase money financings and Capitalized Lease agreements permitted hereby. Neither the Borrower nor the Subsidiaries shall place or allow any restriction, directly or indirectly, on the ability of the Borrower or Subsidiary to (x) pay dividends or any distributions on or with respect to such Person’s Equity Interests or (y) make loans or other cash payments to the Borrower, in each case except for restrictions placed or allowed by any Person with respect to the property subject to purchase money financings and Capitalized Lease agreements permitted hereunder.

Negative Pledges; Subsidiary Restrictions. The Borrower will not, nor will it permit any Subsidiary to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Lender which would (a) prohibit the Borrower or any Subsidiary from granting, or otherwise limit the ability of the Borrower or any Subsidiary to grant, to the Lender any Lien on any assets or properties of the Borrower or any Subsidiary, or (b) require the Borrower or any Subsidiary to gxxxx x Xxxx to any other Person if the Borrower or any Subsidiary grants any Lien to the Lender. The Borrower will not, and will not permit any Subsidiary to, place or allow any restriction, directly or indirectly, on the ability of such Person to (i) pay dividends or any distributions on or with respect to any Subsidiary’s capital stock or (ii) make loans or other cash payments to a Borrower.

Negative Pledges; Subsidiary Restrictions. The Borrowers ----------------------------------------- will not, and will not permit Holdings or any Subsidiary of Omega to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Banks which would (i) prohibit a Borrower, Holdings or such Subsidiary from granting, or otherwise limit the ability of a Borrower, Holdings or such Subsidiary to grant, to the Banks any Lien on any assets or properties of a Borrower, Holdings or such Subsidiary, or (ii) require a Borrower, Holdings or such Subsidiary to xxxxx x Xxxx to any other Person if the Borrower, Holdings or such Subsidiary grants any Lien to the Banks, provided, --------- however, that the foregoing shall not apply to any ------- negative pledge required of New Kitchen Craft pursuant to the CIBC Loan Documents. The Borrowers will not permit Holdings or any Subsidiary of Omega to place or allow any restriction, directly or indirectly, on the ability of such Subsidiary to (a) pay to Omega dividends or any distributions on or with respect to such Subsidiary's capital stock or (b) make loans or other cash payments to the Borrowers.

Negative Pledges; Subsidiary Restrictions. No Credit Party will, nor permit any Subsidiary to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Agent and Lenders which would (i) prohibit such Credit Party or such Subsidiary from granting, or otherwise limit the ability of the such Credit Party or such Subsidiary to grant, to the Agent, for the benefit of the Beneficiaries, any Lien on any assets or properties of such Credit Party or such Subsidiary, or (ii) require such Credit Party or such Subsidiary to xxxxx x Xxxx to any other Person if such Credit Party or such Subsidiary grants any Lien to the Agent, for the benefit of the beneficiaries. No Credit Party will permit any Subsidiary to place or allow any restriction, directly or indirectly, on the ability of such Subsidiary to (a) pay dividends or any distributions on or with respect to such Subsidiary’s capital stock or (b) make loans or other cash payments to such Credit Party.

Negative Pledges; Subsidiary Restrictions. The Borrower ----------------------------------------- will not, and will not permit any Subsidiary to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Agent which would (i) prohibit the Borrower or such Subsidiary from granting, or otherwise limit the ability of the Borrower or such Subsidiary to grant, to the Agent any Lien on any assets or properties of the Borrower or such Subsidiary (other than assets or properties subject to Liens permitted by Section 6.14(i) or Section 6.14(j)), or (ii) require the Borrower or such Subsidiary to xxxxx x Xxxx to any other Person if the Borrower or such Subsidiary grants any Lien to the Agent. The Borrower will not permit any Subsidiary to place or allow any restriction, directly or indirectly, on the ability of such Subsidiary to (a) pay dividends or any distributions on or with respect to such Subsidiary's capital stock or (b) make loans or other cash payments to the Borrower (other than restrictions contained in this Agreement).

Negative Pledges; Subsidiary Restrictions. Except as set forth in the HealthMont RDA Loan Documents with respect to HealthMont of Missouri, LLC and its Subsidiaries, and except as set forth in the SHC Houston RDA Loan Documents with respect to Southern Health Corporation of Houston, Inc. and SunLink Healthcare, L.L.C. and their respective Subsidiaries, no Credit Party will, nor permit any Subsidiary to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Agent and Lenders which would (i) prohibit such Credit Party or such Subsidiary from granting, or otherwise limit the ability of such Credit Party or such Subsidiary to grant, to the Agent, for the benefit of the Beneficiaries, any Lien on any assets or properties of such Credit Party or such Subsidiary, or (ii) require such Credit Party or such Subsidiary to xxxxx x Xxxx to any other Person if such Credit Party or such Subsidiary grants any Lien to the Agent, for the benefit of the beneficiaries. Except as set forth in the HealthMont RDA Loan Documents with respect to HealthMont of Missouri, LLC and its Subsidiaries, and except as set forth herein and in the SHC Houston RDA Loan Documents with respect to Southern Health Corporation of Houston, Inc. and SunLink Healthcare, L.L.C. and their respective Subsidiaries, no Credit Party will permit any Subsidiary to place or allow any restriction, directly or indirectly, on the ability of such Subsidiary to (a) pay dividends or any distributions on or with respect to such Subsidiary’s capital stock or (b) make loans or other cash payments to such Credit Party.” (e) Section 6.7 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

Negative Pledges; Subsidiary Restrictions. The Borrower will not, nor will the Borrower permit any Subsidiary to, enter into any agreement, bond, note or other instrument with or for the benefit of any Person other than the Bank which would (a) prohibit the Borrower or such Subsidiary from granting, or otherwise limit the ability of the Borrower or such Subsidiary to grant to the Bank any Lien on any assets or properties of the Borrower or such Subsidiary (other than pursuant to agreements creating Liens under Section 6.12(i)), or (b) require the Borrower or such Subsidiary to xxxxx x Xxxx to any other Person if the Borrower or such Subsidiary grants any Lien to the Bank. The Borrower will not permit any Subsidiary to place or allow any restriction, directly or indirectly, on the ability of such Subsidiary to (i) pay Restricted Payments on or with respect to such Subsidiary’s capital stock or (ii) make loans or other cash payments to the Borrower, provided, however that the preceding clause (i) shall not apply to Vision Bancshares Trust I, a Delaware statutory trust as to which the Borrower holds all of the common Equity Interests, to the extent any such restriction is required under the terms of the Amended and Restated Trust Agreement of Vision Bancshares Trust I, dated as of December 5, 2005, as amended through the Closing Date.

Negative Pledges; Subsidiary Restrictions. Pursuant to Section 6.28 of the Credit Agreement, the Borrower and its Subsidiaries are prohibited from entering into any agreement with any Person other than the Lenders that would prohibit the Borrower or such Subsidiary from granting, or otherwise limiting the ability of the Borrower or such Subsidiary to grant, to the Lenders any Lien on any of the assets or properties of the Borrower or such Subsidiary. Notwithstanding such limitations, upon the First Amendment Effective Date, the Administrative Agent and the Lenders hereby consent and agree that the Insurance Subsidiary is permitted to operate subject to the laws of the State of South Carolina that prohibit the pledge of assets or voting securities of any insurance company organized in the State of South Carolina.