Common use of No Impairment of Upstreaming Clause in Contracts

No Impairment of Upstreaming. Borrower shall not, nor shall Borrower permit or cause any of its Subsidiaries to, directly or indirectly, enter into or become bound by any agreement, instrument, indenture or other obligation which could directly or indirectly restrict, prohibit or require the consent of any Person with respect to the payment of dividends or distributions or the making of Intercompany Loans by any Subsidiary to Borrower.

Appears in 3 contracts

Samples: Credit Agreement (Artra Group Inc), Loan Agreement (Artra Group Inc), Loan Agreement (Packaging Dynamics Corp)

AutoNDA by SimpleDocs

No Impairment of Upstreaming. Borrower shall not, nor shall Borrower it cause or permit or cause any of its Subsidiaries Subsidiary thereof to, directly or indirectly, enter into or become bound by any agreement, instrument, indenture or other obligation (other than this Agreement and the other Loan Documents) which could directly or indirectly restrict, prohibit or require the consent of any Person with respect to the payment of dividends or distributions or the making of Intercompany Loans intercompany loans by any a Subsidiary of Borrower to Borrower.

Appears in 1 contract

Samples: Credit Agreement (Lasermaster Technologies Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!