Common use of Payment of Certain Obligations Clause in Contracts

Payment of Certain Obligations. (a) With respect to Permitted Subordinated Indebtedness, pay any (i) principal (including sinking fund payments) other than principal payments permitted pursuant to clause (iii)(x) of the definition of Permitted Subordinated Indebtedness, or any other amount (other than, subject to clause (ii) below, scheduled interest payments) with respect to any such Indebtedness, or purchase or redeem (or offer to purchase or redeem) any such Indebtedness, or deposit any monies, securities or other Property with any trustee or other Person to provide assurance that the principal or any portion thereof of any such Indebtedness will be paid when due or otherwise to provide for the defeasance of any such Indebtedness, or (ii) scheduled interest on any such Indebtedness if the payment thereof is then prohibited under the terms of the subordination provisions governing such Indebtedness; or (b) With respect to the Xxxxxxxxx/Xxxx Indebtedness, unless paid from funds arising from the issuance of equity securities, pay any principal amount or any other amount (other than scheduled interest payments that do not exceed 9.00% per annum) with respect to such Indebtedness unless Borrower complies in all respects with Section 3.1(f); or (c) With respect to Indebtedness which does not consist of Permitted Subordinated Indebtedness or the Xxxxxxxxx/Xxxx Indebtedness, make any payment of principal or interest on any such Indebtedness prior to the date when due and payable, or amend the terms of any such Indebtedness to accelerate the date upon which any principal or interest thereof is due and payable, except the Indebtedness evidenced by the Notes, if a Default or Event of Default then exists or would result therefrom.

Payment of Certain Obligations. (a) With respect to Permitted Subordinated Indebtedness, pay Pay any (i) principal (including sinking fund payments) other than principal payments permitted pursuant to clause (iii)(x) of the definition of Permitted Subordinated Indebtedness, or any other amount (other than, subject to clause (ii) below, than scheduled interest payments) with respect to any such IndebtednessParent Funded Debt, or purchase or redeem (or offer to purchase or redeem) any such Indebtedness, or deposit any monies, securities or other Property with any trustee or other Person to provide assurance that the principal or any portion thereof of any such Indebtedness will be paid when due or otherwise to provide for the defeasance of any such Indebtedness, Obligations except: (i) payment or prepayment of Parent Funded Debt of any type using the proceeds of substantially contemporaneous Permitted Preferred Stock or Permitted Subordinated Notes; (ii) scheduled interest on any such Indebtedness if payment or prepayment of Parent Senior Notes using the payment thereof is then prohibited under the terms proceeds of the subordination provisions governing such Indebtedness; orsubstantially contemporaneous Permitted Senior Notes, Permitted Preferred Stock or Permitted Subordinated Notes; (biii) With respect to the Xxxxxxxxx/Xxxx Indebtedness, unless paid from funds arising from the issuance of equity securities, pay any principal amount or any other amount (other than scheduled interest payments extent that do not exceed 9.00% per annum) with respect to such Indebtedness unless Borrower complies in all respects with Section 3.1(f); or (c) With respect to Indebtedness which does not consist of Permitted Subordinated Indebtedness or the Xxxxxxxxx/Xxxx Indebtedness, make any payment of principal or interest on any such Indebtedness prior to the date when due and payable, or amend the terms of any such Indebtedness to accelerate the date upon which any principal or interest thereof is due and payable, except the Indebtedness evidenced by the Notes, if a no Default or Event of Default then exists or would result therefrom, payment, prepayment or purchase of the remaining approximately $17,000,000 principal balance of Parent's 8-3/8% senior notes due 2008, and tender premiums and transaction costs associated with such payment or prepayment, using the proceeds of Loans hereunder; (iv) to the extent that no Default or Event of Default then exists or would result therefrom, payment, prepayment or purchase of the remaining approximately $17,400,000 principal balance of Parent's 9-7/8% senior subordinated notes due 2010, and tender premiums and transaction costs associated with such payment or prepayment, using the proceeds of Loans hereunder; (v) to the extent that no Default or Event of Default then exists or would result therefrom and to the extent that no violation of Section 7.16 would result therefrom, payment, prepayment or purchase of an aggregate principal amount of not more than $200,000,000 of other Parent Funded Debt using the proceeds of Loans hereunder; provided that (A) giving pro forma effect to such payment or prepayment as of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to Section 8.1(b), the Parent Leverage Ratio is less than 4.75:1.00, and (B) giving effect to such payment or prepayment, the difference between the Commitment and the Aggregate Outstandings is not less than $100,000,000; or (b) Pay any scheduled interest on any Permitted Subordinated Notes unless the payment thereof is then permitted pursuant to the terms of the Indenture governing such Permitted Subordinated Notes; provided, however, that this Section shall not apply to prohibit any payment consisting of the repurchase or redemption of Parent Funded Debt to the extent necessary to prevent a License Revocation if (i) no Default or Event of Default then exists (other than a Default or Event of Default which will be cured by such payment), (ii) the purchase or redemption price paid is not in excess of the par value thereof and (iii) Parent has notified the Administrative Agent in writing of the necessity to invoke this proviso at least ten Business Days (or such shorter period as may be necessary in order to comply with a regulation or order of the relevant Gaming Board) in advance.

Payment of Certain Obligations. (a) With respect to Permitted Subordinated Indebtedness, pay Prepay any (i) principal (including sinking fund payments) other than principal payments permitted pursuant to clause (iii)(x) of the definition of Permitted Subordinated Indebtedness, or any other amount (other than, subject to clause (ii) below, scheduled interest payments) with respect to any such IndebtednessParent Funded Debt, or purchase or redeem (or offer to purchase or redeem) any such IndebtednessParent Funded Debt prior to the date when due, or deposit any monies, securities or other Property with any trustee or other Person to provide assurance that the principal or any portion thereof of any such Indebtedness Parent Funded Debt will be paid when due or otherwise to provide for the defeasance of any such IndebtednessObligations, except: (i) payment or prepayment of any type of Parent Funded Debt using the proceeds of Permitted Senior Notes, Permitted Preferred Stock or Permitted Subordinated Notes; (ii) scheduled interest on any such Indebtedness if the payment thereof is then prohibited under the terms of the subordination provisions governing such Indebtedness; or (b) With respect to the Xxxxxxxxx/Xxxx Indebtedness, unless paid from funds arising from the issuance of equity securities, pay any principal amount or any other amount (other than scheduled interest payments extent that do not exceed 9.00% per annum) with respect to such Indebtedness unless Borrower complies in all respects with Section 3.1(f); or (c) With respect to Indebtedness which does not consist of Permitted Subordinated Indebtedness or the Xxxxxxxxx/Xxxx Indebtedness, make any payment of principal or interest on any such Indebtedness prior to the date when due and payable, or amend the terms of any such Indebtedness to accelerate the date upon which any principal or interest thereof is due and payable, except the Indebtedness evidenced by the Notes, if a no Default or Event of Default then exists or would result therefrom, payment, prepayment or purchase of Parent Funded Debt using the proceeds of Loans hereunder; provided that (A) giving pro forma effect to such payment or prepayment as of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to Section 8.1(b), the Borrower Leverage Ratio is not greater than the level required pursuant to Section 5.2, and (B) giving effect to such payment or prepayment, the difference between the Commitment and the Aggregate Outstandings is not less than $100,000,000; or (b) Pay any scheduled interest on any Permitted Subordinated Notes except to the extent that the payment thereof is then permitted pursuant to subordination and other terms of the Indenture governing such Permitted Subordinated Notes; provided, however, that this Section shall not apply to prohibit any payment consisting of the repurchase or redemption of Parent Funded Debt to the extent necessary to prevent a License Revocation if (i) no Default or Event of Default then exists (other than a Default or Event of Default which will be cured by such payment), (ii) the purchase or redemption price paid is not in excess of the par value thereof and (iii) Parent has notified the Administrative Agent in writing of the necessity to invoke this proviso at least ten Business Days (or such shorter period as may be necessary in order to comply with a regulation or order of the relevant Gaming Board) in advance.

Payment of Certain Obligations. (a) With respect to Permitted Subordinated Indebtedness, pay Pay any (i) principal (including sinking fund payments) other than principal payments permitted pursuant to clause (iii)(x) of the definition of Permitted Subordinated Indebtedness, or any other amount (other than, subject to clause (ii) below, than scheduled interest payments) with respect to any such IndebtednessSubordinated Obligations, Parent Senior Unsecured Obligations or Purchase Money Obligations (other than regularly scheduled amortization or principal payments), or purchase or redeem (or offer to purchase or redeem) any such Indebtedness, or deposit any monies, securities or other Property with any trustee or other Person to provide assurance that the principal or any portion thereof of any such Indebtedness will be paid when due or otherwise to provide for the defeasance of any such Indebtedness, Obligations except: (i) payment or prepayment of Subordinated Obligations using the proceeds of substantially contemporaneous Permitted Preferred Stock or Permitted Subordinated Obligations; (ii) scheduled interest on any such Indebtedness if payment or prepayment of Parent Senior Unsecured Obligations using the payment thereof is then prohibited under the terms proceeds of the subordination provisions governing such Indebtedness; orsubstantially contemporaneous Permitted Senior Unsecured Obligations, Permitted Preferred Stock or Permitted Subordinated Obligations; (biii) With respect to the Xxxxxxxxx/Xxxx Indebtedness, unless paid from funds arising from the issuance of equity securities, pay any principal amount or any other amount (other than scheduled interest payments extent that do not exceed 9.00% per annum) with respect to such Indebtedness unless Borrower complies in all respects with Section 3.1(f); or (c) With respect to Indebtedness which does not consist of Permitted Subordinated Indebtedness or the Xxxxxxxxx/Xxxx Indebtedness, make any payment of principal or interest on any such Indebtedness prior to the date when due and payable, or amend the terms of any such Indebtedness to accelerate the date upon which any principal or interest thereof is due and payable, except the Indebtedness evidenced by the Notes, if a no Default or Event of Default then exists or would result therefrom, payment or prepayment of an aggregate principal amount of not more than $150,000,000 of the principal amount of the Parent's 93/4% Senior Subordinated Notes due 2007 using the proceeds of Permitted Senior Unsecured Obligations, Loans hereunder or the proceeds of Pari Passu Term Debt; (iv) to the extent that no Default or Event of Default then exists or would result therefrom, payment, prepayment or purchase of an aggregate principal amount of not more than $200,000,000 of the Subordinated Obligations; provided that (A) giving pro forma effect to such payment or prepayment as of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to Section 8.1(b), the Parent Funded Debt Ratio is not greater than 4.75:1.00, and (B) the difference between the Commitment and the Aggregate Outstandings is not less than $50,000,000; (v) to the extent that no Default or Event of Default then exists, and to the extent that no violation of Section 7.16 would result therefrom, payment, prepayment or purchase of Subordinated Obligations or Parent Senior Unsecured Obligations (from any source of funds) in a manner which is not permitted pursuant to clauses (i) through (iv) of this Section above in an aggregate principal amount not to exceed $50,000,000; (vi) prepayments of any Purchase Money Obligations in an aggregate principal amount not to exceed $25,000,000; or (b) Pay any scheduled interest on any Subordinated Obligations unless the payment thereof is then permitted pursuant to the terms of the Indenture governing such Subordinated Obligations; provided, however, that this Section shall not apply to prohibit any payment consisting of the repurchase or redemption of Subordinated Obligations, Parent Senior Unsecured Obligations or Purchase Money Obligations to the extent necessary to prevent a License Revocation if (i) no Default or Event of Default then exists which will not be cured by such payment, (ii) the purchase or redemption price paid is not in excess of the par value thereof and (iii) Parent has notified the Administrative Agent in writing of the necessity to invoke this proviso at least ten Business Days (or such shorter period as may be necessary in order to comply with a regulation or order of the relevant Gaming Board) in advance.