Common use of Payments of Certain Indebtedness Clause in Contracts

Payments of Certain Indebtedness. Neither the Borrowers nor any Restricted Subsidiary will, nor will they permit any Restricted Subsidiary to, voluntarily prepay, redeem, purchase, defease or otherwise satisfy any Prepayment Restricted Indebtedness during the period from the First Amendment Effective Date until the later of (x) the Covenant Relief Period Termination Date and (y) the first date on which the Rent-Adjusted Total Net Leverage Ratio is equal to or less than 6.00 to 1.00 calculated on a Pro Forma Basis as of the end of the most recently ended Test Period. Thereafter, neither the Borrowers nor any Restricted Subsidiary will, nor will they permit any Restricted Subsidiary to, voluntarily prepay, redeem, purchase, defease or otherwise satisfy any Prepayment Restricted Indebtedness except:

Appears in 2 contracts

Samples: Credit Agreement (MGM Resorts International), Credit Agreement (MGM Resorts International)

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Payments of Certain Indebtedness. Neither the Borrowers nor any Restricted Subsidiary will, nor will they permit any Restricted Subsidiary to, voluntarily prepay, redeem, purchase, defease or otherwise 122 satisfy any Prepayment Restricted Indebtedness Indebtedness, during the period from the First Amendment Effective Date until the later of (x) the Covenant Relief Period Termination Date and (y) the first date on which the Rent-Adjusted Total Net Leverage Ratio is equal to or less than 6.00 to 1.00 calculated on a Pro Forma Basis as of the end of the most recently ended Test Period. Thereafter, neither the Borrowers nor any Restricted Subsidiary will, nor will they permit any Restricted Subsidiary to, voluntarily prepay, redeem, purchase, defease or otherwise satisfy any Prepayment Restricted Indebtedness except:

Appears in 1 contract

Samples: Credit Agreement (MGM Resorts International)

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Payments of Certain Indebtedness. Neither the Borrowers nor any Restricted Subsidiary will, nor will they permit any Restricted Subsidiary to, voluntarily prepay, redeem, purchase, defease or otherwise satisfy any Prepayment Restricted Indebtedness Indebtedness, during the period from the First Amendment Effective Date until the later of (x) the Covenant Relief Period Termination Date and (y) the first date on which the Rent-Adjusted Total Net Leverage Ratio is equal to or less than 6.00 to 1.00 calculated on a Pro Forma Basis as of the end of the most recently ended Test Period. Thereafter, neither the Borrowers nor any Restricted Subsidiary will, nor will they permit any Restricted Subsidiary to, voluntarily prepay, redeem, purchase, defease or otherwise satisfy any Prepayment Restricted Indebtedness except:

Appears in 1 contract

Samples: Credit Agreement (MGM Resorts International)

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