Restrictions on Intermediate Holdings Clause Samples
The "Restrictions on Intermediate Holdings" clause limits or regulates the use of intermediary entities that hold assets or interests on behalf of parties involved in a transaction. Typically, this clause specifies conditions under which intermediate holding companies may be established, maintained, or used, and may require prior consent or impose reporting obligations if such structures are created. Its core function is to prevent parties from circumventing contractual obligations, regulatory requirements, or tax liabilities by interposing additional entities between themselves and the underlying assets, thereby ensuring transparency and compliance throughout the transaction structure.
Restrictions on Intermediate Holdings. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, permit Intermediate Holdings to (a) own any material property other than the Capital Stock in New Holdings and cash and Cash Equivalents received from distributions from New Holdings permitted by Section 8.8, (b) have any material liabilities other than (i) obligations under the Loan Documents and the Term Loan Documents, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses incurred in the ordinary course of business or (c) engage in any business other than (i) owning the Capital Stock in New Holdings, and activities incidental or related thereto and (ii) performing its obligations under the Loan Documents and the Term Loan Documents.
Restrictions on Intermediate Holdings. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, permit Intermediate Holdings to (a) own any material property other than the Capital Stock in New Holdings and cash and Cash Equivalents received from distributions from New Holdings permitted by subsection 8.8, (b) have any material liabilities other than (i) obligations under the Loan Documents, documents evidencing a Permitted Revolving Credit Facility, and documents evidencing a Receivables Facility, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses incurred in the ordinary course of business or (c) engage in any business other than (i) owning the Capital Stock in New Holdings, and activities incidental or related thereto and (ii) performing its obligations under the Loan Documents, documents evidencing a Permitted Revolving Credit Facility, and documents evidencing a Receivables Facility.
Restrictions on Intermediate Holdings. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, permit Intermediate Holdings to (a) own any material property other than the Capital Stock in New Holdings and cash and Cash Equivalents received from distributions from New Holdings permitted by Section 8.8, (b) have any material liabilities other than (i) obligations under the Loan Documents, Term Loan Documents, documents evidencing the Restructuring Transactions and contracts and agreements (including with respect to indemnities) with its officers, directors, consultants and employees relating to their employment, services or directorships, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses incurred in the ordinary course of business or (c) engage in any business other than (i) owning the Capital Stock in New 126 AMERICAS 94977503 Holdings, and activities incidental or related thereto and (ii) performing its obligations under the Loan Documents, Term Loan Documents, documents evidencing the Restructuring Transactions and contracts and agreements (including with respect to indemnities) with its officers, directors, consultants and employees relating to their employment, services or directorships.
Restrictions on Intermediate Holdings. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, permit Intermediate Holdings to (a) own any material property other than the Capital Stock in New Holdings and cash and Cash Equivalents received from distributions from New Holdings permitted by subsection 8.8, (b) have any material liabilities other than (i) obligations under the Loan Documents and documents evidencing a Permitted Revolving Credit Facility, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses incurred in the ordinary course of business or (c) engage in any business other than (i) owning the Capital Stock in New Holdings, and activities incidental or related thereto and (ii) performing its obligations under the Loan Documents and documents evidencing a Permitted Revolving Credit Facility.
Restrictions on Intermediate Holdings. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, permit Intermediate Holdings to (a) own any material property other than the Capital Stock in New Holdings and cash and Cash Equivalents received from distributions from New Holdings permitted by Section 8.8, (b) have any material liabilities other than (i) obligations under the Loan Documents, documents evidencing a Permitted Revolving Credit Facility, documents evidencing a Receivables Facility, documents evidencing the Restructuring Transactions and contracts and agreements (including with respect to indemnities) with its officers, directors, consultants and employees relating to their employment, services or directorships, (ii) tax liabilities in the ordinary course of business and (iii) corporate, administrative and operating expenses incurred in the ordinary course of business or (c) engage in any business other than (i) owning the Capital Stock in New Holdings, and activities incidental or related thereto and (ii) performing its obligations under the Loan Documents, documents evidencing a Permitted Revolving Credit Facility, documents evidencing a Receivables Facility, documents evidencing the Restructuring Transactions and contracts and agreements (including with respect to indemnities) with its officers, directors, consultants and employees relating to their employment, services or directorships.