Common use of No More Favorable Terms Clause in Contracts

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.09, no Loan Party or Restricted Subsidiary shall enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party or any Restricted Subsidiary that (i) contains any covenant binding on any Loan Party or any Restricted Subsidiary or any of their respective assets, (ii) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iii) requires any Loan Party or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, a guaranty that, in the case of any of the foregoing clauses (i), (ii) and (iii), is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default or guaranty set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default or guaranty, as applicable, prior to the effectiveness of the More Favorable Term (it being understood and agreed neither the covenants, events of default and guaranty requirements set forth in the 2022 Senior Notes Indenture as in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto shall constitute a More Favorable Term).

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.097.3(K) or the requirements set forth in Section 7.2(K)(ii), no Loan Party or Restricted the Company will not, nor will it permit any Subsidiary shall to, enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party the Company having a principal amount (whether or not funded or committed) in excess of $50,000,000 or any Restricted Subsidiary Senior Note Indenture that (ia) contains any covenant binding on any Loan Party the Company or any Restricted Subsidiary or any of their respective assetsProperty, (iib) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iiic) requires any Loan Party the Company or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, a guaranty or collateral pledge that, in the case of any of the foregoing clauses (ia), (iib) and (iiic), is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default default, guaranty or guaranty collateral pledge set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default default, guaranty or guarantycollateral pledge, as applicable, prior to the effectiveness of the More Favorable Term (it being understood and agreed neither the covenantsTerm, events of default and guaranty requirements set forth except for collateral pledges provided for in the 2022 Senior Notes Indenture as in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto shall constitute a More Favorable Termagreements governing Indebtedness secured by Liens permitted under Sections 7.3(F) other than Section 7.3(F)(viii).

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.097.3(K) or the requirements set forth in Section 7.2(K)(ii), no Loan Party or Restricted the Company will not, nor will it permit any Subsidiary shall to, enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party the Company having a principal amount (whether or not funded or committed) in excess of $50,000,000 or any Restricted Subsidiary Senior Note Indenture that (ia) contains any covenant binding on any Loan Party the Company or any Restricted Subsidiary or any of their respective assetsProperty, (iib) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iiic) requires any Loan Party the Company or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, a guaranty or collateral pledge that, in the case of any of the foregoing clauses (ia), (iib) and (iiic), is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default default, guaranty or guaranty collateral pledge set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default default, guaranty or guarantycollateral pledge, as applicable, prior to the effectiveness of the More Favorable Term (it being understood Term, except for collateral pledges provided for in agreements governing Indebtedness secured by Liens permitted under Sections 7.3(F) other than Section 7.3(F)(viii); provided, that the foregoing shall not apply to the “Priority Debt Ratio” under and agreed neither the covenants, events of default and guaranty requirements set forth as defined in the 2022 Senior Notes Indenture Receivables Purchase Agreement dated as of June 18, 2012 among ARC, the Company, the purchaser from time to time party thereto and PNC Bank, National Association, as amended through the Restatement Effective Date (but shall apply to any extension or renewal of, or any amendment or modification of, such Priority Debt Ratio that is less favorable to the Company and ARC than the formulation and level in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto shall constitute a More Favorable TermRestatement Effective Date).

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.09, no Loan Party or Restricted Subsidiary shall be a party to, enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing the Senior Secured Notes or any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party or any Restricted Subsidiary that (i) contains any covenant binding on any Loan Party or any Restricted Subsidiary or any of their respective assets, (ii) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iii) requires any Loan Party or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, a guaranty that, in the case of any of the foregoing clauses (i), (ii) and (iii), is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default or guaranty set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default or guaranty, as applicable, prior to the effectiveness of the More Favorable Term; provided that, if no such amendment or supplement is entered into by the relevant parties, the applicable More Favorable Term (it being understood shall be automatically incorporated herein without any further action by any party hereto. Notwithstanding the foregoing, no term or provision of the Senior Secured Notes and agreed neither the covenants, events of default and guaranty requirements set forth in the 2022 Senior Notes Indenture as in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto Secured Note Agreement shall constitute a More Favorable Term)Term during any period when the outstanding aggregate principal amount of the Senior Secured Notes is less than or equal to U.S. $75,000,000.

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.09, no Loan Party or Restricted Subsidiary shall be a party to, enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing anythe Senior Secured Notes or any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party or any Restricted Subsidiary that (i) contains any covenant binding on any Loan Party or any Restricted Subsidiary or any of their respective assets, (ii) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iii) requires any Loan Party or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, a guaranty that, in the case of any of the foregoing clauses (i), (ii) and (iii), is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default or guaranty set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default or guaranty, as applicable, prior to the effectiveness of the More Favorable Term (it being understood and agreed neither the covenants, events of default and guaranty requirements set forth in the 2022 Senior Notes Indenture as in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto thereto; provided that, if no such amendment or supplement is entered into by the relevant parties, the applicable More Favorable Term shall be automatically incorporated herein without any further action by any party hereto. Notwithstanding the foregoing, no term or provision of the Senior Secured Notes and the Senior Secured Note Agreement shall constitute a More Favorable Term)) during any period when the outstanding aggregate principal amount of the Senior Secured Notes is less than or equal to U.S. $75,000,000.

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.097.3(K) or the requirements set forth in Section 7.2(K)(ii), no Loan Party or Restricted the Company will not, nor will it permit any Subsidiary shall to, enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party the Company having a principal amount (whether or any Restricted Subsidiary not funded or committed) in excess of $50,000,000 that (ia) contains any covenant binding on any Loan Party the Company or any Restricted Subsidiary or any of their respective assetsProperty, (iib) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iiic) requires any Loan Party the Company or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, provide a guaranty or collateral pledge that, in the case of any of the foregoing clauses (ia), (iib) and (iiic), is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default default, guaranty or guaranty collateral pledge set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default default, guaranty or guarantycollateral pledge, as applicable, prior to the effectiveness of the More Favorable Term (it being understood and agreed neither the covenantsTerm, events of default and guaranty requirements set forth except for collateral pledges provided for in the 2022 Senior Notes Indenture as in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto shall constitute a More Favorable Termagreements governing Indebtedness secured by Liens permitted under Sections 7.3(F) other than Section 7.3(F)(xx).

No More Favorable Terms. Without in any way limiting the foregoing provisions of this Section 6.097.3(K) or the requirements set forth in Section 7.2(K)(ii), no Loan Party or Restricted the Company will not, nor will it permit any Subsidiary shall to, enter into or amend, restate, supplement or otherwise modify any indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Unsecured Indebtedness of any Loan Party the Company having a principal amount (whether or not funded or committed) in excess of $50,000,000 or any Restricted Subsidiary Senior Note Indenture that (ia) contains any covenant binding on any Loan Party the Company or any Restricted Subsidiary or any of their respective assetsProperty, (iib) contains any event of default causing, or permitting holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity, or (iiic) requires any Loan Party the Company or any Restricted Subsidiary to provide, or otherwise gives any holder of any such Indebtedness the benefit of, a guaranty or collateral pledge that, in the case of any of the foregoing clauses (ia), (iib) and (iii)c) , is (x) not substantially provided for in this Agreement or the other Loan Documents or (y) is more favorable to the holder of such Indebtedness than the comparable covenant, default default, guaranty or guaranty collateral pledge set forth in the Loan Documents (collectively, a “More Favorable Term”), unless this Agreement and/or any relevant Loan Document shall be amended or supplemented to provide substantially the same covenant, default default, guaranty or guarantycollateral pledge, as applicable, prior to the effectiveness of the More Favorable Term (it being understood and agreed neither the covenantsTerm, events of default and guaranty requirements set forth except for collateral pledges provided for in the 2022 Senior Notes Indenture as in effect on the date hereof nor any covenants, events of default and guaranty requirements substantially similar thereto shall constitute a More Favorable Termagreements governing Indebtedness secured by Liens permitted under Sections 7.3(F) other than Section 7.3(F)(viii).