Common use of Permitted Payments: Subordinated Liabilities Clause in Contracts

Permitted Payments: Subordinated Liabilities. (a) The Parent may make Payments in respect of the Subordinated Liabilities then due if: (i) the Payment is expressly permitted or not prohibited (as applicable) by each of the Credit Facility Agreement, the Pari Passu Facility Agreements (if any) and the Pari Passu Note Indentures (if any); or (ii) the Majority Super Senior Creditors and the Required Pari Passu Creditors each consent to that Payment being made. (b) Nothing in this Agreement shall prohibit or restrict any roll-up or capitalisation of any amount in respect of any Subordinated Liabilities or the issue of any payment in kind instruments in satisfaction of any amount in respect of any Subordinated Liabilities or any forgiveness, write-off or capitalisation of any Subordinated Liabilities or the release or other discharge of any such Subordinated Liabilities.

Permitted Payments: Subordinated Liabilities. (a) The Parent may make Payments in respect of the Subordinated Liabilities then due if: (i) the Payment is expressly permitted or not prohibited (as applicable) by each of the Credit Facility Agreement, the each Pari Passu Facility Agreements Agreement (if any) and the each Pari Passu Note Indentures Indenture (if any); or (ii) the Majority Super Senior Creditors and the Required Pari Passu Creditors each consent to that Payment being made. (b) Nothing in this Agreement shall prohibit or restrict any roll-up or capitalisation of any amount in respect of any Subordinated Liabilities or the issue of any payment in kind instruments in satisfaction of any amount in respect of any Subordinated Liabilities or any forgiveness, write-off or capitalisation of any Subordinated Liabilities or the release or other discharge of any such Subordinated Liabilities.