Prepayments of Subordinated Indebtedness. The Borrower shall not, and shall not permit any of its Subsidiaries to, (a) purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for, the purchase, redemption, retirement or other acquisition of, or make any payment or prepayment of the principal of or interest on, or any other amount owing in respect of, any Indebtedness that is subordinated to the Obligations, except for regularly scheduled payments of interest in respect of such Indebtedness required pursuant to the instruments evidencing such Indebtedness that are not made in contravention of the terms and conditions of subordination set forth on part II of Schedule 8.05 or (b) directly or indirectly, make any payment in respect of, or set apart any money for a sinking, defeasance or other analogous fund on account of, Guaranty Obligations subordinated to the Obligations. The foregoing provisions will not prohibit the defeasance, redemption or repurchase of subordinated Indebtedness with the proceeds of Permitted Refinancing Indebtedness.
Prepayments of Subordinated Indebtedness. No Loan Party shall voluntarily prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner any Subordinated Indebtedness, or make any payment in violation of any subordination terms of any Subordinated Indebtedness, except refinancings and refundings of such Subordinated Indebtedness to the extent permitted hereunder.
Prepayments of Subordinated Indebtedness. No Credit Party shall, nor shall it permit any of its Affiliates to, directly or indirectly, purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Subordinated Indebtedness prior to its scheduled maturity, other than Restricted Payments permitted pursuant to Section 6.5(iii).
Prepayments of Subordinated Indebtedness. 89 8.14 Dividend and Other Payment Restrictions Affecting Subsidiaries......................................... 89 8.15 Change in Business.................................................. 90 8.16
Prepayments of Subordinated Indebtedness. No Related Person will make any unscheduled payment on any Subordinated Indebtedness, except:
(i) unscheduled payments of any Subordinated Indebtedness in exchange for, or out of the aggregate net cash proceeds of a substantially concurrent issuance and sale (other than to another Related Person) of Non- Redeemable Common Stock or of options or warrants giving the holders thereof only the right to acquire Non-Redeemable Common Stock;
(ii) unscheduled payments of any Subordinated Indebtedness in exchange for, or out of the aggregate net cash proceeds of a substantially concurrent incurrence (other than to another Related Person) of new Subordinated Indebtedness of Borrower that is permitted under subsection (iv) of the immediately preceding subsection (a), provided that such new Subordinated Indebtedness has a stated interest rate that is the same or less than the stated interest rate of the Subordinated Indebtedness being paid, purchased, redeemed, defeased, acquired, or retired, and has a weighted average life to maturity that is longer than the weighted average life to maturity of the Subordinated Indebtedness being paid, purchased, redeemed, defeased, acquired, or retired; and
(iii) other unscheduled payments of any Subordinated Indebtedness, provided that Borrower must give Agent and each Lender at least forty-five (45) days' advance notice of its decision to do so and must defer making any such unscheduled payments until (1) Majority Lenders have determined whether or not to designate a new Borrowing Base pursuant to Section 2.11(c), (2) any Borrowing Base Deficiency (whether resulting from such a designation or previously existing) has been eliminated, and (3) no Default exists.
Prepayments of Subordinated Indebtedness. Voluntarily prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in excess of $5,000,000 in the aggregate during the term of this Agreement in violation of any subordination terms of, any Subordinated Debt, except any prepayments or redemptions of any such Indebtedness (a) that exists as of the date hereof and is listed on Schedule 6.03 to the Disclosure Letter in connection with a refunding or refinancing thereof permitted by Section 6.03(i) or (b) that is permitted by Section 6.03(g), unless an Event of Default has occurred and is continuing.
Prepayments of Subordinated Indebtedness. The Borrower shall not, nor shall it permit any of its Subsidiaries or Affiliates to, directly or indirectly, purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Subordinated Indebtedness prior to its scheduled maturity, other than Restricted Payments permitted pursuant to Section 6.5(iii).
Prepayments of Subordinated Indebtedness. 22 Section 5.30. Dividend and Other Payment Restrictions Affecting Subsidiaries........................22 Section 5.31. Change in Business....................................................................23 Section 5.32. Accounting Changes....................................................................23 Section 5.33. Limitation on Sale and Leaseback Transactions.........................................23 Section 5.34. [Intentionally Omitted]...............................................................23 Section 5.35. Amendments of Organization Documents or Certain Debt Agreements.......................23 Section 5.37. Operations through Subsidiaries.......................................................24 Section 5.38. Operations of MLP.....................................................................24 Section 5.39. Miscellaneous.........................................................................24 Section 5.40. Accounting Principles.................................................................25 Section 1.2. Amendments to Loan Agreement..........................................................37 Section 1.3. Amendments to Loan Agreement..........................................................40 SECTION 2. REPRESENTATIONS OF THE LESSEE.........................................................40
Prepayments of Subordinated Indebtedness. (a) Make any prepayment (whether optional or mandatory) of any Subordinated Indebtedness, in each case, incurred under Section 8.03(f), other than:
(i) the prepayment of any Subordinated Indebtedness with the net cash proceeds of the issuance of any other Indebtedness permitted hereunder (other than Loans); and
(ii) other prepayments of Subordinated Indebtedness so long as (A) no Default shall have occurred and be continuing or would result from such prepayment, (B) immediately after giving effect to such prepayment on a Pro Forma Basis the Loan Parties shall be in compliance with the financial covenants set forth in Section 8.11 recomputed as of the end of the Applicable Period and (C) immediately after giving effect to such prepayment, there shall be at least $50 million of availability existing under the Aggregate Revolving Commitments.
(b) Make any payment of principal, interest or other amounts on any Subordinated Indebtedness in violation of the subordination provisions applicable to such Subordinated Indebtedness.
Prepayments of Subordinated Indebtedness. Except as expressly permitted under Section 6.4, no Credit Party shall, directly or indirectly, voluntarily purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Subordinated Indebtedness prior to its scheduled maturity other than the redemption of up to $5,000,000 of principal amount of Sky Subordinated Indebtedness and any accompanying accrued and unpaid interest (to the extent required to be paid pursuant to the terms of the 2019 Notes as in existence on the First Amendment Date) upon the exercise of the put option under that certain Letter Agreement, dated as of the date hereof, by and between Borrower and Sky Ventures Limited so long as (i) either (x) the Fundraising Condition has been met or (y) the 2019 Notes Conversion Condition has been met and (ii) no Default or Event of Default shall have occurred and be continuing or would be caused thereby.”
