Common use of Payments Otherwise Permitted Clause in Contracts

Payments Otherwise Permitted. Nothing contained in this Section 2 or elsewhere in this Agreement or in the Junior Debt Documents shall prevent Obligors at any time, except during the pendency of any Proceeding referred to in subsection 2.2 or under the conditions referred to in subsection 2.3, from making or the Junior Creditors or any Junior Trustee from receiving regularly scheduled payments of accrued and unpaid interest on to the extent required pursuant to the Junior Debt Documents. However, at no time shall prepayments of the Junior Obligations (whether by way of maturity, acceleration or otherwise) be permitted to be made by any Obligor or received by any Junior Creditor or any Junior Trustee, without the prior written consent of the Trustee and the Required Holders.

Appears in 5 contracts

Samples: Intercreditor Agreement (FiberTower CORP), Intercreditor Agreement (FiberTower CORP), Intercreditor Agreement (FiberTower CORP)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.