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Common use of No Restrictions on Subsidiary Distributions to Borrowers Clause in Contracts

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreement, the Borrowers will not and will not permit any of their Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to (a) pay dividends or make any other distribution on any of such Subsidiary’s Stock owned by any Borrower or any other Subsidiary, (b) pay any Indebtedness owed to the Borrowers or any other Subsidiary, (c) make loans or advances to any Borrower or any other Subsidiary or (d) transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Curative Health Services Inc)

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No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein (or in this the Senior Loan Documents or the 1999 Securities Purchase Agreement), the Borrowers will not and will not permit any of their Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to to: (a1) pay dividends or make any other distribution on any of such Subsidiary’s Stock 's capital stock or other equity interest owned by a Borrower or any Subsidiary of a Borrower; (2) pay any indebtedness owed to a Borrower or any other Subsidiary, ; (b) pay any Indebtedness owed to the Borrowers or any other Subsidiary, (c3) make loans or advances to any a Borrower or any other Subsidiary Subsidiary; or (d4) transfer any of its property or assets to any a Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Recoton Corp)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreementherein, the Borrowers will Credit Parties shall not and will shall not cause or permit any of their Subsidiaries to directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to to: (ai) pay dividends or make any other distribution on any of such Subsidiary’s Stock owned by any Borrower or any other Subsidiary, ; (biii) pay any Indebtedness owed to the Borrowers any Borrower or any other Subsidiary, ; (ciii) make loans or advances to any Borrower or any other Subsidiary Subsidiary; or (div) transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Osullivan Industries Inc)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreementherein, the Borrowers will not and will not permit any of their Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to (a) to: pay dividends or make any other distribution on any of such Subsidiary’s 's Capital Stock owned by a Borrower or any Subsidiary of a Borrower; subject to subordination provisions, pay any indebtedness owed to a Borrower or any other Subsidiary, (b) pay any Indebtedness owed to the Borrowers or any other Subsidiary, (c) ; make loans or advances to any Borrower or any other Subsidiary Subsidiary; or (d) transfer any of its property or assets to any a Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Clearview Cinema Group Inc)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreementherein, the Borrowers will Credit Parties shall not and will shall not cause or permit any of their Subsidiaries to directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind (other than the Loan Documents and the Indenture) on the ability of any such Subsidiary to to: (a1) pay dividends or make any other distribution on any of such Subsidiary’s Stock owned by any Borrower or any other Subsidiary, ; (b2) pay any Indebtedness owed to the Borrowers any Borrower or any other Subsidiary, ; (c3) make loans or advances to any Borrower or any other Subsidiary Subsidiary; or (d4) transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Exopack Holding Corp)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreementherein, the Borrowers will not and will not permit any of their Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to Subsidiaries to: (a1) pay dividends or make any other distribution on any of such Subsidiary’s 's Capital Stock owned by any Borrower Borrowers or any other SubsidiarySubsidiaries of Borrowers; (2) subject to subordination provisions, (b) pay any Indebtedness indebtedness owed to the Borrowers or any other Subsidiary, ; (c3) make loans or advances to any Borrower Borrowers or any other Subsidiary Subsidiary; or (d4) transfer any of its property their properties or assets to any Borrower Borrowers or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Eco Soil Systems Inc)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreement, the Borrowers will not and will not permit any of their Subsidiaries directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to (a) pay dividends or make any other distribution on any of such Subsidiary’s 's Stock owned by any Borrower or any other Subsidiary, (b) pay any Indebtedness owed to the Borrowers or any other Subsidiary, (c) make loans or advances to any Borrower or any other Subsidiary or (d) transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Curative Health Services Inc)

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No Restrictions on Subsidiary Distributions to Borrowers. Except as provided in this Agreementherein, the Borrowers will Credit Parties shall not and will shall not cause or permit any of their Subsidiaries to directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind (other than the Loan Documents, the Indenture and the Xxxxx Debt Agreement) on the ability of any such Subsidiary to to: (a1) pay dividends or make any other distribution on any of such Subsidiary’s Stock owned by any Borrower or any other Subsidiary, ; (b2) pay any Indebtedness owed to the Borrowers any Borrower or any other Subsidiary, ; (c3) make loans or advances to any Borrower or any other Subsidiary Subsidiary; or (d4) transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Exopack Holding Corp)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein and as provided in this Agreementthe Subordinated Notes Documents, the Borrowers will Credit Parties shall not and will shall not cause or permit any of their Subsidiaries to directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to to: (ai) pay dividends or make any other distribution on any of such Subsidiary’s Stock owned by any Borrower or any other Subsidiary, ; (bii) pay any Indebtedness owed to the Borrowers any Borrower or any other Subsidiary, ; (ciii) make loans or advances to any Borrower or any other Subsidiary Subsidiary; or (div) except for restrictions on the transfers of specific assets subject to Capital Leases or other leases or purchase money obligations, transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Tempur Pedic International Inc)

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein and as provided in this Agreementthe Subordinated Notes Documents, the Borrowers will Credit Parties shall not and will shall not cause or permit any of their Subsidiaries to directly or indirectly to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to to: (ai) pay dividends or make any other distribution on any of such Subsidiary’s 's Stock owned by any Borrower or any other Subsidiary, ; (bii) pay any Indebtedness owed to the Borrowers any Borrower or any other Subsidiary, ; (ciii) make loans or advances to any Borrower or any other Subsidiary Subsidiary; or (div) except for restrictions on the transfers of specific assets subject to Capital Leases or other leases or purchase money obligations, transfer any of its property or assets to any Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Twi Holdings Inc)

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