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

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein, directly or indirectly 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: (1) pay dividends or make any other distribution on any of such Subsidiary's capital stock owned by a Borrower or any Subsidiary of a Borrower; (2) subject to subordination provisions, pay any indebtedness owed to a Borrower or any other Subsidiary; (3) make loans or advances to a Borrower or any other Subsidiary; or

No Restrictions on Subsidiary Distributions to Borrowers. Except -------------------------------------------------------- as provided herein, directly or indirectly 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 of any Borrower to: (1) pay dividends or make any other distribution on any of such Subsidiary's capital stock or other equity interests owned by a such Borrower or any Subsidiary of a such Borrower; (2) subject to subordination provisions, pay any indebtedness owed to a Borrower Borrowers or any other Subsidiary; (3) make loans or advances to a Borrower Borrowers or any other Subsidiary; or

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein, Borrowers will not and will not permit any Subsidiary 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: (1) pay dividends or make any other distribution on any of such a Subsidiary's capital stock Capital Stock owned by a Borrower or any Subsidiary of a Borrower; (2) subject to subordination provisions, pay any indebtedness owed to a Borrower or any other Subsidiary; (3) make loans or advances to a Borrower or any other Subsidiary; or

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein, OSG will not and will not permit any of its 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: (1) pay dividends or make any other distribution on any of such Subsidiary's capital stock owned owed by a any Borrower or any Subsidiary of a any Borrower; (2) subject to subordination provisionsprovisions for the benefit of Agent and Lenders, pay any indebtedness owed Indebtedness owned to a any Borrower or any other Subsidiary; (3) make loans or advances to a any Borrower or any other Subsidiary; or

No Restrictions on Subsidiary Distributions to Borrowers. Except as provided hereinherein (or in the Subordinated Credit Agreement or the Senior Subordinated Notes), directly or indirectly 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: (1) pay dividends or make any other distribution on any of such Subsidiary's capital stock or other equity interest owned by a Borrower or any Subsidiary of a Borrower; (2) subject to subordination provisions, pay any indebtedness owed to a Borrower or any other Subsidiary; (3) make loans or advances to a Borrower or any other Subsidiary; oror (4) transfer any of its property or assets to a Borrower or any other Subsidiary.