Restrictions on Prepayments. Voluntarily prepay any Debt (other than Obligations) or amend any instrument evidencing the Debt of any Credit Party if such amendment would have a Material Adverse Effect.
Restrictions on Prepayments. Notwithstanding the foregoing, mandatory prepayments made pursuant to clauses (c), (d), (e) and (f) above shall be limited to the extent that the Borrower Agent reasonably determines that such prepayment would result in adverse tax consequences related to the repatriation of funds or would be prohibited, restricted or delayed by applicable law. All prepayments referred to in clauses (c), (d), (e) and (f) above are subject to permissibility under local law (e.g., financial assistance, corporate benefit, restrictions on upstreaming of cash intra-group and the fiduciary and statutory duties of the directors of the relevant Restricted Subsidiaries) and under any applicable Organizational Documents (including as a result of minority ownership). Further, there will be no requirement to make any prepayment whereby doing so Holdings and its Restricted Subsidiaries or any of their Affiliates and/or their equity partners would suffer adverse tax consequences as a result of upstreaming cash to make such prepayments (including the imposition of withholding taxes). The non-application of any such prepayment amounts as a result of the foregoing provisions will not constitute a Default or an Event of Default and such amounts shall be available for working capital purposes of Holdings and the applicable Restricted Subsidiaries as long as not required to be prepaid in accordance with the following provisions. The Borrowers will undertake to use commercially reasonable efforts for a period of no greater than one year to overcome or eliminate any such restriction and/or minimize any such costs of prepayment and/or use the other cash resources of the Borrowers and their Restricted Subsidiaries (subject to the considerations above) to make the relevant payment. If at any time within one year of a mandatory prepayment pursuant to clauses (c), (d), (e) or (f) being forgiven due to such restrictions, such restrictions are removed, any relevant proceeds will at the end of the then current interest period be applied in prepayment in accordance with Section 2.10(h). Notwithstanding the foregoing, any prepayments made after application of the above provision shall be net of any costs, expenses or taxes incurred by Holdings and its Restricted Subsidiaries or any of its affiliates or equity partners and arising as a result of compliance with the preceding sentence, and Holdings and its Restricted Subsidiaries shall be permitted to make, directly or indirectly, a dividend or distributio...
Restrictions on Prepayments. Notwithstanding the foregoing provisions of this Section 2.14, no mandatory prepayment of the Loans shall be made pursuant to this Section 2.14 (i) to the extent that such net proceeds or Consolidated Excess Cash Flow are applied to prepay amounts outstanding under, or to permanently reduce revolving commitments under, the First Lien Credit Agreement to the extent and in the payment priority required thereunder and (ii) except as required by Section 2.15(b) or 2.15(c) of the First Lien Credit Agreement, unless otherwise consented to by Borrower and requisite lenders under the First Lien Credit Agreement.
Restrictions on Prepayments. (a) All prepayments shall be made together with accrued interest thereon up to the date of prepayment.
Restrictions on Prepayments. 63 SECTION 10.11
Restrictions on Prepayments. Except as expressly permitted below, under no circumstances shall any Loan Party be entitled to make, or the Subordinated Creditors be entitled to demand, take, receive, or retain, any voluntary or mandatory prepayments or distributions or any voluntary or mandatory repurchase or redemption of any Subordinated Debt prior to the Payment in Full of the Senior Debt. The Borrower is permitted to pay, and the Subordinated Creditors are entitled to receive and retain, voluntarily and mandatory prepayments of Subordinated Debt made under Section 2.6 of the Subordinated Credit Agreement so long as no Senior Default then exists under the Senior Debt Documents or would arise after giving effect to such prepayment (including, without limitation, compliance with all covenants set forth in Sections 8.7, 8.8, 8.10 of the Bank Credit Agreement on a pro forma basis after giving effect to such payment) and, in the case of any mandatory prepayment required under Section 2.6(b) of the Subordinated Credit Agreement, after first giving effect to any mandatory prepayment then required under the Bank Credit Agreement. Payments received by the Subordinated Creditors after acceleration of the Subordinated Debt or the commencement of a Collection Action otherwise permitted by this Agreement shall not constitute a prohibited prepayment under this Section 2.6, provided that any and all such payments and collections received shall be subject to being paid over to the Senior Creditor Representative for application to the payment of all Senior Debt in such order and manner as set forth in the Bank Credit Agreement or as the Senior Creditors shall otherwise determine until Paid in Full.
Restrictions on Prepayments. Notwithstanding the foregoing provisions of this Section 2.14, Borrower shall have no obligation to make mandatory prepayments of the Term Loans, nor shall any mandatory prepayments hereunder accrue, until after Discharge of First Lien Obligations (other than as a result of a refinancing thereof permitted by the terms of the Intercreditor Agreement).
Restrictions on Prepayments. Except as provided in this Agreement, no prepayment shall be made on any of the Credit Obligations other than Credit Obligations that may be reborrowed or reissued, and other than the required prepayments under Section 2.1(a) of the Amended PML Note Agreement, and, upon NBD's prior consent, the prepayments under Section 2.2(b) or Section 2.2(c) of the Amended PML Note Agreement.
Restrictions on Prepayments. Notwithstanding the foregoing provisions of this Section 2.14, no mandatory prepayment of the Term Loans, unless otherwise consented to by requisite lenders under the First Lien Credit Agreement (or permitted refinancings or replacements thereof), shall be made pursuant to this Section 2.14 to the extent that such net proceeds or Consolidated Excess Cash Flow, as the case may be, are applied to prepay amounts outstanding under the First Lien Credit Agreement (or permitted refinancings or replacements thereof) and to permanently reduce commitments as required thereunder.
Restrictions on Prepayments. (a) All prepayments to be made pursuant to Clause 11.2 (Report Provider, Disposal and Insurance Proceeds and Equity Cure Amounts), 11.3 (Excess Cashflow) or Clause 11.4 (Lock-Up) are subject to permissibility under local law.
