Common use of Restrictions Affecting Subsidiaries Clause in Contracts

Restrictions Affecting Subsidiaries. Enter into, or suffer to exist, any Contractual Obligation with any Person, which prohibits or limits the ability of any Material Subsidiary (other than Special Purpose Vehicle Subsidiaries and Asset Securitization Subsidiaries) to (a) pay dividends or make other distributions or pay any Indebtedness owed to the Borrower or any other Subsidiary, (b) make loans or advances to the Borrower or any other Subsidiary or (c) transfer any of its properties or assets to the Borrower or any other Subsidiary.

Appears in 2 contracts

Samples: Credit Agreement (PHH Corp), 364 Day Competitive Advance and Revolving Credit Agreement (Cendant Corp)

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Restrictions Affecting Subsidiaries. Enter into, or suffer to exist, any Contractual Obligation with any Person, which prohibits or limits the ability of any Material Subsidiary (other than Special Purpose Vehicle Subsidiaries and Asset Securitization Subsidiaries) to (a) pay dividends or make other distributions or pay any Indebtedness owed to the Borrower or any other Subsidiary, (b) make loans or advances to the Borrower or any other Subsidiary or (c) transfer any of its properties or assets to the Borrower or any other Subsidiary.

Appears in 2 contracts

Samples: Credit Agreement (Cendant Corp), 364 Day Competitive Advance and Revolving Credit Agreement (Cendant Corp)

Restrictions Affecting Subsidiaries. Enter into, or suffer to exist, any Contractual Obligation with any Person, which prohibits or limits the ability of any Material Subsidiary (other than Special Purpose Vehicle Subsidiaries and Asset Securitization Subsidiaries) to (a) pay dividends or make other distributions or pay any Indebtedness owed to the Borrower or any other Subsidiary, (b) make loans or advances to the Borrower or any other Subsidiary or (c) transfer any of its properties or assets to the Borrower or any other Subsidiary.

Appears in 2 contracts

Samples: 364 Day Competitive Advance and Revolving Credit Agreement (PHH Corp), Five Year Competitive Advance and Revolving Credit Agreement (PHH Corp)

Restrictions Affecting Subsidiaries. Enter into, or suffer to exist, any Contractual Obligation with any PersonPerson other than the Borrower, which prohibits or limits the ability of any Material Subsidiary (other than Special Purpose Vehicle Subsidiaries and Asset Securitization Subsidiaries) to (a) pay dividends or make other distributions or pay any Indebtedness owed to the Borrower or any other Subsidiary, (b) make loans or advances to the Borrower or any other Subsidiary or (c) transfer any of its properties or assets to the Borrower or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Sybron International Corp)

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Restrictions Affecting Subsidiaries. Enter into, or suffer to exist, any Contractual Obligation with any PersonPerson other than the Company, which prohibits or limits the ability of any Material Subsidiary (other than Special Purpose Vehicle Subsidiaries and Asset Securitization Subsidiaries) to (a) pay dividends or make other distributions or pay any Indebtedness owed to the Borrower Company or any other Subsidiary, (b) make loans or advances to the Borrower Company or any other Subsidiary or (c) transfer any of its properties or assets to the Borrower Company or any other Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Apogent Technologies Inc)

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