Restricted Payments and Purchases. No Borrower Party shall, or shall permit any Subsidiary of a Borrower Party to, directly or indirectly declare or make any Restricted Payment or Restricted Purchase, or set aside any funds for any such purpose, other than Dividends on common stock which accrue (but are not paid in cash) or are paid in kind or Dividends on preferred stock which accrue (but are not paid in cash) or are paid in kind; provided, however, that a Borrower’s Subsidiaries may make Restricted Payments to such Borrower or a wholly owned Domestic Subsidiary of such Borrower that is a Borrower Party.
Appears in 2 contracts
Samples: Credit Agreement (Affinity Guest Services, LLC), Credit Agreement (Affinity Group Holding, Inc.)
Restricted Payments and Purchases. No Borrower Party shall, or shall permit any Subsidiary of a Borrower Party to, directly or indirectly declare or make any Restricted Payment or Restricted Purchase, or set aside any funds for any such purpose, other than Dividends on common stock which accrue (but are not paid in cash) or are paid in kind or Dividends on preferred stock which accrue (but are not paid in cash) or are paid in kind; provided, however, that a Borrower’s Subsidiaries any wholly owned Subsidiary of the Borrower may make Restricted Payments to such Borrower or a wholly owned Domestic Subsidiary of such Borrower that is a Borrower Partythe Borrower.
Appears in 2 contracts
Samples: Senior Secured Priming and Superpriority Debtor in Possession Credit Agreement, Senior Secured Priming and Superpriority Debtor in Possession Credit Agreement
