Common use of Payments on Subordinated Debt Clause in Contracts

Payments on Subordinated Debt. The Borrowers will not, and will not permit any of their respective Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default or Event of Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrowers or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

Payments on Subordinated Debt. The Borrowers Holdings and the Borrower will not, and will not permit any of their respective Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default or Event of Default shall have occurred and shall be continuing or would immediately result therefrom, Holdings, the Borrowers Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

Payments on Subordinated Debt. The Borrowers Borrower will not, and will not permit any of their respective its Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default or Event of Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrowers Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

Payments on Subordinated Debt. The Borrowers Borrower will not, and will not permit any of their respective its Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default or Event of Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrowers Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

Payments on Subordinated Debt. The Borrowers will not, and will not permit any of their respective Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default or Event of Default shall have occurred and shall be continuing or would immediately result therefromtherefrom (including on a Pro Forma Basis), the Borrowers Company or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.

Payments on Subordinated Debt. The Borrowers Borrower will not, and will not permit any of their respective its Subsidiaries to, declare or make, or agree to pay for or make, directly or indirectly, any payment of principal or interest or any purchase, redemption, retirement, acquisition or defeasance with respect to any - 117 - Indebtedness of such Person which is subordinated to the payment of the Loan Document Obligations except that so long as no Default or Event of Default shall have occurred and shall be continuing or would immediately result therefrom, the Borrowers Borrower or any Subsidiary may make payments of Subordinated Debt to the extent permitted by the subordination provisions applicable thereto.