Common use of Permitted Transaction Clause in Contracts

Permitted Transaction. amend the definition of Permitted Transaction and make consequential amendments to the Credit Agreement to ensure the following are permitted by the covenants in accordance with recent Liberty precedent: (a) any other transaction approved by the Majority Lenders; and (b) the solvent liquidation or reorganisation of any member of the Group which is not an Obligor so long as distributions are made to other members of the Group.