No Restrictions on Subsidiary Distributions to Borrowers. Except as provided herein, no Borrower shall, or cause or permit its Subsidiaries to, 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 Stock owned by any Borrower or any other Subsidiary; (2) pay any Indebtedness owed to any Borrower or any other Subsidiary; (3) make loans or advances to any Borrower or any other Subsidiary; or
Appears in 2 contracts
Samples: Credit Agreement (MTM Technologies, Inc.), Credit Agreement (MTM Technologies, Inc.)
No Restrictions on Subsidiary Distributions to Borrowers. Except as provided hereinherein and in (each as of the Closing Date) the Senior Unsecured Notes Indenture, no Borrower shall, or the Credit Parties shall not and shall not cause or permit its their Subsidiaries to, to directly or indirectly, 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 Stock owned by any Borrower or any other Subsidiary; (2) pay any Indebtedness owed to any Borrower or any other Subsidiary; (3) make loans or advances to any Borrower or any other Subsidiary; or
Appears in 1 contract
No Restrictions on Subsidiary Distributions to Borrowers. Except -------------------------------------------------------- as provided herein, no each Borrower shall, or cause or will not and will not permit any of its Subsidiaries to, directly or indirectly, 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 Stock capital stock owned by any such Borrower or any other SubsidiarySubsidiary of such Borrower; (2) pay any Indebtedness owed to any such Borrower or any other Subsidiary; (3) make loans or advances to any such Borrower or any other Subsidiary; or
Appears in 1 contract
