Common use of Payment Permitted by Each of the Guarantors if No Default Clause in Contracts

Payment Permitted by Each of the Guarantors if No Default. Nothing contained in this Article, elsewhere in this Indenture or in any of the Securities shall prevent any Guarantor, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of such Guarantor referred to in Section 14.17 or under the conditions described in Section 14.18, from making payments at any time on its Guarantee.

Appears in 3 contracts

Samples: Seventh Supplemental Indenture (Penske Automotive Group, Inc.), Third Supplemental Indenture (Penske Automotive Group, Inc.), First Supplemental Indenture (Penske Automotive Group, Inc.)

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Payment Permitted by Each of the Guarantors if No Default. Nothing contained in this Article, elsewhere in this Indenture or in any of the Securities shall prevent any Guarantor, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding-winding up, assignment for the benefit of creditors or other marshaling of assets and liabilities of such Guarantor referred to in Section 14.17 1417 or under the conditions described in Section 14.181418, from making payments at any time of principal of, premium, if any, or interest on its Guaranteethe Securities.

Appears in 3 contracts

Samples: Subordinated Indenture (Trustreet Properties Inc), Indenture (Sinclair Broadcast Group Inc), Indenture (Sinclair Broadcast Group Inc)

Payment Permitted by Each of the Guarantors if No Default. Nothing contained in this Article, elsewhere in this Indenture or in any of the Securities shall prevent any Guarantor, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of such Guarantor referred to in Section 14.17 1317 or under the conditions described in Section 14.181318, from making payments at any time on its Guarantee.

Appears in 2 contracts

Samples: Indenture (Penske Automotive Group, Inc.), Indenture (United Auto Group Inc)

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Payment Permitted by Each of the Guarantors if No Default. Nothing contained in this Article, elsewhere in this Indenture or in any of the Securities shall prevent any Guarantor, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding-up, assignment for the benefit of creditors or other marshaling of assets and liabilities of such Guarantor referred to in Section 14.17 1317 or under the conditions described in Section 14.181318, from making payments at any time on its Guaranteethe Guarantees.

Appears in 1 contract

Samples: Exhibit (Sonic Automotive Clearwater Inc)

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