Common use of Payment of Financial Indebtedness Clause in Contracts

Payment of Financial Indebtedness. 23.16.1 Except as permitted under Clause 23.16.2, the Borrower shall not: (a) repay or prepay any principal amount (or capitalised interest) outstanding in respect of Financial Indebtedness; (b) pay any interest or any other amounts payable in connection with any Financial Indebtedness; or (c) purchase, redeem, defease or discharge any amount outstanding with respect to any Financial Indebtedness. 23.16.2 Clause 23.16.1 does not apply to: (a) the payment, prepayment or repayment of any amounts due under the Finance Documents; (b) the repayment of Shareholder Loan Principal pursuant to a Utilisation; (c) the payment of Shareholder Loan Interest pursuant to a Utilisation; (d) the application of moneys withdrawn from the Dividend Distribution Account for such purposes; or (e) a payment, prepayment, repayment, purchase, redemption, defeasance or discharge which is made with the prior written consent of the Agent (acting on the instructions of the Majority Lenders).