Restrictions on Subsidiary Dividends. The Borrower and the Guarantor will not, nor will they permit any Significant Subsidiary (other than any Project Finance Subsidiary) to, be a party to any agreement prohibiting or restricting the ability of such Significant Subsidiary to declare or pay dividends to the Borrower or the Guarantor; provided, that the foregoing provisions of this Section 7.16 shall not prohibit the Guarantor or any Significant Subsidiary from entering into any debt instrument containing a total debt to capitalization covenant.
Appears in 2 contracts
Samples: Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc)
Restrictions on Subsidiary Dividends. The Borrower and the Guarantor will not, nor will they it permit any Significant Subsidiary (other than any Project Finance Subsidiary) to, be a party to any agreement prohibiting or restricting the ability of such Significant Subsidiary to declare or pay dividends to the Borrower or the Guarantor; provided, that the foregoing provisions of this Section 7.16 shall not prohibit the Guarantor or any Significant Subsidiary from entering into any debt instrument containing a total debt to capitalization covenantBorrower.
Appears in 2 contracts
Samples: Credit Agreement (Kansas City Power & Light Co), Credit Agreement (Great Plains Energy Inc)
Restrictions on Subsidiary Dividends. The Borrower and the Guarantor will not, nor will they theyit permit any Significant Subsidiary (other than any Project Finance Subsidiary) to, be a party to any agreement prohibiting or restricting the ability of such Significant Subsidiary to declare or pay dividends to the Borrower or the Guarantor; provided, that the foregoing provisions of this Section 7.16 shall .CHAR1\1170499v7 not prohibit the Guarantor GuarantorBorrower or any Significant Subsidiary from entering into any debt instrument containing a total debt to capitalization covenant.
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