Common use of Restriction on Payments Clause in Contracts

Restriction on Payments. Notwithstanding any provision of the Subordinated Indebtedness Documents to the contrary and in addition to any other limitations set forth herein or therein, no payment (whether made in cash, securities or other property or by set-off) of principal, interest or any other amount due with respect to the Subordinated Indebtedness shall be made or received, and no Subordinated Creditor shall exercise any right of set-off or recoupment with respect to any Subordinated Indebtedness, until all of the Senior Indebtedness is Paid in Full, provided however: subject to any adjustments or rights set forth in the Notes, any warrant for the capital stock of Borrower or Borrower’s charter, bylaws and similar constituent documents, Subordinated Obligor shall be permitted to make interest payments by means of the issuance to any Subordinated Creditor of common stock of the Borrower.

Restriction on Payments. Notwithstanding any provision of the Subordinated Indebtedness Documents to the contrary and in addition to any other limitations set forth herein or therein, no payment (whether made in cash, securities or other property or by set-off) of principal, interest or any other amount due with respect to the Subordinated Indebtedness shall be made or received, and no Subordinated Creditor shall exercise any right of set-off or recoupment with respect to any Subordinated Indebtedness, until all of the Senior Indebtedness is Paid in Full, provided howeverPROVIDED HOWEVER: subject to any adjustments or rights set forth in the Notes, any warrant for the capital stock of Borrower or Borrower’s 's charter, bylaws and similar constituent documents, Subordinated Obligor shall be permitted to make interest payments by means of the issuance to any Subordinated Creditor of common stock of the Borrower.