Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 6 contracts
Samples: Term Loan Agreement (Sila Realty Trust, Inc.), Term Loan Agreement (Sila Realty Trust, Inc.), Revolving Credit Agreement (Sila Realty Trust, Inc.)
Restrictive Agreements. The U.S. Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the U.S. Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or propertiesassets, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Equity Interests or to make or repay loans or advances to the U.S. Borrower or any other Subsidiary thereof, or (c) the ability of any Subsidiary to Guarantee Indebtedness of the U.S. Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) clauses (a) and (c) of the foregoing shall not apply to restrictions and conditions contained in any Indebtedness equal to or in excess of $25,000,000 in aggregate amount at the date of incurrence or issuance of such Indebtedness and permitted hereunder, (iv) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (vvi) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 5 contracts
Samples: Credit Agreement (Miller Herman Inc), Credit Agreement (Miller Herman Inc), Credit Agreement (Miller Herman Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Liens permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof. Notwithstanding anything herein to the contrary, the provisions of this Agreement (including, without limitation under this Section 6.09) shall not prohibit the use by Borrower, Guarantor, or any Subsidiary (including Property Subsidiary) of Acceptable Unencumbered Properties as a borrowing base for other Unsecured Debt.
Appears in 5 contracts
Samples: Credit Agreement (Education Realty Operating Partnership L P), Credit Agreement (Education Realty Operating Partnership L P), Credit Agreement (Education Realty Operating Partnership L P)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that except:
(i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, Agreement;
(ii) restrictions and conditions existing on the foregoing date hereof set forth on Schedule 7.09 (but shall not apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition);
(iii) customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, ; provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, ;
(iv) (with respect to clause (a) shall not apply to above) (x) restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vy) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof; and
(v) (with respect to clause (a) above) provisions in any lease or lease agreement, or any restrictions or conditions imposed by any landlord, prohibiting or restricting the granting, creation or incurrence of any liens on any premises leased by the Company or any of its Subsidiaries.
Appears in 5 contracts
Samples: Credit Agreement (1 800 Flowers Com Inc), Credit Agreement (1 800 Flowers Com Inc), Credit Agreement (Cdi Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Credit Party to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Credit Party to create, incur or permit to exist any Lien upon any of its assets property or propertiesassets, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Credit Party to pay dividends or other distributions with respect to any Equity Securities or with respect to, or measured by, its Capital Stock, profits or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, Credit Party or to provide a Guarantee of any Indebtedness of the Borrower or any other Subsidiary thereof Credit Party, (c) the ability of any Credit Party to make any loan or advance to any other Credit Party, or (d) the ability of any Credit Party to sell, lease or transfer any of its property or assets to the Borrower or any other Subsidiary thereofCredit Party; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law Law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule B (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary any Credit Party pending such sale, provided such restrictions and conditions apply only to the Subsidiary Credit Party that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other ordinary course contracts restricting the assignment thereof.
Appears in 5 contracts
Samples: Tranche a Exit Facility Agreement (Microcell Telecommunications Inc), Tranche B Credit Agreement (Microcell Telecommunications Inc), Tranche a Exit Facility Agreement (Microcell Telecommunications Inc)
Restrictive Agreements. The Except for Permitted Restrictive Agreements, Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that that:
(i) the foregoing shall not apply to (x) restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, and (iiy) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, ;
(iiiii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to (x) restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement secured Permitted Indebtedness if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vy) clause (a) shall not apply to customary provisions in leases, subleases, in-bound licenses of Intellectual Property and other contracts restricting the assignment thereof;
(iii) the foregoing shall not apply to any stockholder agreement, charter, by laws or other organizational documents of Borrower or any Subsidiary as in effect on the date hereof and as amended as permitted hereunder; and
(iv) the foregoing shall not apply to Permitted Liens.
Appears in 5 contracts
Samples: Term Loan Agreement (Raindance Technologies Inc), Term Loan Agreement (Exagen Diagnostics Inc), Term Loan Agreement (Exagen Diagnostics Inc)
Restrictive Agreements. The Borrower Holding Company will not, and nor will not it permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (ai) the ability of the Borrower Holding Company to create, incur or permit to exist any Lien upon the Collateral owned by the Holding Company as provided herein and in the Security Documents, (ii) the ability of any Designated SBG Subsidiary or any of its Subsidiaries to create, incur or permit to exist any Lien upon any of its property or assets or properties, whether now owned or hereafter acquired, or (biii) the ability of any Subsidiary of its Subsidiaries any Designated SBG Subsidiary to pay dividends or other distributions to such Designated SBG Subsidiary with respect to its Capital Stock, ownership interests or to Guarantee Indebtedness of the Borrower or any Subsidiary of the Borrower or the ability of any Designated SBG Subsidiary or any of its Subsidiaries to make or repay loans or advances to the Borrower or any other Subsidiary thereof, of the Borrower or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofBorrower; provided that (i) the foregoing clauses (ii) and (iii) shall not apply to (x) restrictions or and conditions imposed by law or by this Agreement or any other the Loan Document, Documents and (iiy) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided sale (so long as such restrictions and conditions apply only to the Subsidiary Person that is to be sold and such sale is permitted hereunderunder the Loan Documents); provided, (iii) further, that the foregoing clauses shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or and conditions imposed by any agreement relating to Secured the Other Debt permitted by this Agreement if such restrictions and conditions apply only Documents to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall extent not apply to customary provisions more onerous than those contained in leases, subleases, licenses and other contracts restricting the assignment thereofExisting Senior Unsecured Note Indentures.
Appears in 5 contracts
Samples: Incremental Loan Amendment (Sinclair Broadcast Group Inc), Credit Agreement (Sinclair Broadcast Group Inc), Incremental Loan Amendment (Sinclair Broadcast Group Inc)
Restrictive Agreements. The Borrower Borrowers will not, and will not permit any of its their Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the any Borrower or any of its their Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its their Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the any Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the any Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the any Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law law, regulation, rule or order, by this Agreement or any other Loan DocumentDocument or by the charter documents of any joint venture (excluding any Subsidiary that is non-wholly owned solely as a result of directors’ qualifying shares required by applicable law) permitted under Section 7.4(g), (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting entered into in the assignment thereofordinary course of business.
Appears in 4 contracts
Samples: Revolving Credit and Term Loan Agreement (Fox Factory Holding Corp), Revolving Credit and Term Loan Agreement (Fox Factory Holding Corp), Revolving Credit Agreement (Fox Factory Holding Corp)
Restrictive Agreements. The Borrower will not, and nor will not it permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained set forth in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunderRevolving Facility Documents, (iii) the foregoing shall not apply to restrictions in contracts for salesand conditions existing on the date hereof identified on Schedule 7.08 (but shall apply to any extension or renewal of, managementor any amendment or modification expanding the scope of, development any such restriction or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed ofcondition), (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement (other than the Revolving Facility) if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 4 contracts
Samples: Senior Term Credit Agreement (Exco Resources Inc), Senior Unsecured Term Credit Agreement (Exco Resources Inc), Senior Term Credit Agreement (Exco Resources Inc)
Restrictive Agreements. The Borrower Borrowers will not, and will not permit any of other Loan Party or its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any Subsidiary of its Subsidiaries a Loan Party to pay dividends or other distributions with respect to any shares of its Capital Stock, Stock or to make or repay loans or advances to the Borrower Borrowers or any other Subsidiary thereof, of any Borrower or to Guarantee Indebtedness of the Borrower Borrowers or any other Subsidiary thereof or to transfer of any of its property or assets to the Borrower or any other Subsidiary thereofBorrower; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 4 contracts
Samples: Credit Agreement (Independence Contract Drilling, Inc.), Credit Agreement (Independence Contract Drilling, Inc.), Credit Agreement (Independence Contract Drilling, Inc.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law law, regulation, rule or order, by this Agreement or any other Loan DocumentDocument or by the charter documents of any joint venture (excluding any Subsidiary that is non-wholly owned solely as a result of directors’ qualifying shares required by applicable law) permitted under Section 8.04(f), (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, ; provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting entered into in the assignment thereofordinary course of business.
Appears in 3 contracts
Samples: Credit Agreement (Fox Factory Holding Corp), Credit Agreement (Fox Factory Holding Corp), Credit Agreement (Fox Factory Holding Corp)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary (other than an Unrestricted Subsidiary that is an SPE) to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock (or similar equity interests) or to make or repay loans or advances to the Borrower Company or any other Restricted Subsidiary thereof, or to Guarantee guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that that: (i) the foregoing shall not apply to such restrictions or and conditions imposed by law or law, by this Agreement or any other Loan Document, by the Bank Credit Agreement; (ii) the foregoing shall not apply to such restrictions and conditions contained in documents evidencing unsecured Indebtedness of the Company so long as such restrictions and conditions are not more onerous or more restrictive (taken as a whole) than such restrictions and conditions under this Agreement; (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary or any asset pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary or asset that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt Liens permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing subject to such Secured Debt or Liens permitted under Section 7.2, Lien; and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 3 contracts
Samples: Note Purchase and Private Shelf Agreement (Cubic Corp /De/), Note Purchase and Private Shelf Agreement (Cubic Corp /De/), Note Purchase and Private Shelf Agreement (Cubic Corp /De/)
Restrictive Agreements. The Borrower No Loan Party will, nor will not, and will not it permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries (other than any Foreign Subsidiary) to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries such Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the a Borrower or any other Subsidiary thereof or to transfer any Guarantee Indebtedness of its property or assets to the a Borrower or any other Subsidiary thereofsuch Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law Requirement of Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 3 contracts
Samples: Credit Agreement (GLOBAL INDUSTRIAL Co), Credit Agreement (GLOBAL INDUSTRIAL Co), Credit Agreement (Systemax Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement any Loan Document or, for so long as the following remain subject to the Intercreditor Agreement, the Senior Notes and the Senior Note Documents (including any permitted refinancing or any other Loan Documentreplacements thereof), (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt Indebtedness, (iv) clause (b) of the foregoing shall not apply to restrictions or Liens conditions imposed by any agreement relating to Indebtedness of Subsidiaries permitted under Section 7.2by this Agreement, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 3 contracts
Samples: Credit Agreement (Layne Christensen Co), Credit Agreement (Layne Christensen Co), Credit Agreement (Layne Christensen Co)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement (other than Subordinated Debt Documents evidencing Permitted Subordinated Debt) and that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Liens permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and leases or other contracts agreements entered into in the ordinary course of business restricting the assignment thereof.
Appears in 3 contracts
Samples: Revolving Credit and Term Loan Agreement (Stanley, Inc.), Revolving Credit and Term Loan Agreement (Stanley, Inc.), Revolving Credit and Term Loan Agreement (Stanley, Inc.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing clauses (a) and (b) shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing clauses (a) and (b) shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing clauses (a) and (b) shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iiiiv) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) the foregoing clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 3 contracts
Samples: Credit Agreement (Progress Software Corp /Ma), Credit Agreement (Progress Software Corp /Ma), Credit Agreement (Progress Software Corp /Ma)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to customary restrictions or conditions imposed by any agreement relating to Secured Debt Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Agreement, and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment or subletting thereof, (v) the foregoing shall not apply to customary provisions restricting assignment of any licensing agreement (in which the Company or any of its Subsidiaries is the licensee) or other contract entered into by the Company or any of its Subsidiaries in the ordinary course of business, (vi) the foregoing shall not apply to restrictions on the transfer of any asset pending the close of the sale of such asset, and (vii) the foregoing shall not apply to restrictions on the transfer of any asset subject to a Lien permitted by Section 6.02(b).
Appears in 2 contracts
Samples: Credit Agreement (Priceline Group Inc.), Credit Agreement (Priceline Com Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter Enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any Subsidiary (other than a Receivables Subsidiary pursuant to the terms of its Subsidiaries a Receivables Purchase Facility permitted by this Agreement) to pay dividends or other distributions with respect to holders of its Capital Stock, Stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or regulations or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for salesor conditions imposed by, managementor rights arising under, development or dispositions of property not prohibited any transaction giving rise to a Lien permitted by this Agreement or any Hedging Agreement; provided, thatin each case if such restrictions, such restrictions relate conditions or rights apply only to the property being managedor assets securing or encumbered by such transaction (or obligation thereunder) or Hedging Agreement and such restrictions, developed conditions or disposed ofrights are customary for such transaction or Hedging Agreement, (iv) clause (a) the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing are customary for such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Scotts Miracle-Gro Co), Credit Agreement (Scotts Miracle-Gro Co)
Restrictive Agreements. The Parent and the Borrower will not, and will not permit any of its their respective Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Parent or any of its Parent’ Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower Parent or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower Parent or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower Parent or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof, (v) clause (a) shall not, in the case of any non-wholly owned Subsidiary, apply to customary provisions in such Subsidiary’s organization documents that restrict the transfer of such Subsidiary’s Equity Interests, and (vi) clause (a) shall not apply to restrictions on cash deposits permitted hereunder and which are imposed by Parent’ or its Subsidiaries’ suppliers, service providers and landlords.
Appears in 2 contracts
Samples: Credit Agreement (LendingTree, Inc.), Credit Agreement (LendingTree, Inc.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter Enter into, incur or permit to exist any agreement (other than any Contractual Obligation binding on any HMO Subsidiary or Insurance Subsidiary) that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofRestricted Subsidiary, to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Restricted Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Finance Lease Liabilities permitted by this Agreement if so long as such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions provision in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Molina Healthcare, Inc.), Credit Agreement (Molina Healthcare, Inc.)
Restrictive Agreements. The Borrower No Loan Party will, nor will not, and will not it permit any of its Subsidiaries Restricted Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the any Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the any Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law any Requirement of Law or by this Agreement any Loan Document or any other agreement governing the Permitted Term Loan DocumentIndebtedness, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Urban Outfitters Inc), Credit Agreement (Urban Outfitters Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly Directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets or properties, whether now owned or hereafter acquired, securing the Secured Obligations or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided PROVIDED that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement the Loan Documents, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.07 (or any extension or renewal of, or any amendment or modification to, or any other Loan Documentrestriction or condition contained in the agreements governing future Indebtedness of the Company that is substantially identical in substance to, such restriction or condition that does not expand the scope of such restriction or condition), (iiiii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or other asset pending such sale, provided such restrictions and conditions apply only to the Subsidiary or other asset that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2any Indebtedness, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof and (vi) clause (b) of the foregoing shall not apply to customary restrictions contained in senior unsecured notes or bonds issued by the Company.
Appears in 2 contracts
Samples: Credit Agreement (Cummins Inc), Indenture (Cummins Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter Enter into, incur or permit to exist any agreement (other than any Contractual Obligation binding on any HMO Subsidiary or Insurance Subsidiary) that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofRestricted Subsidiary, to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Restricted Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Capital Lease Obligations permitted by this Agreement if so long as such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions provision in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Molina Healthcare Inc), Credit Agreement (Molina Healthcare Inc)
Restrictive Agreements. The Borrower will notNo Loan Party will, and no Loan Party will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower any Loan Party or any of its Restricted Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Restricted Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Restricted Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions or conditions under Qualified Senior Notes or Unsecured Debt Documents, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided sale so long as such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement Section 7.1(g) or Section 7.1(l) if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Arc Logistics Partners LP), Revolving Credit Agreement (Arc Logistics Partners LP)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to a Permitted Receivables Facility or the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Zebra Technologies Corp), Credit Agreement (Zebra Technologies Corp/De)
Restrictive Agreements. The Neither Borrower will, nor will not, and will not it permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (ai) the ability of the such Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (bii) the ability of any Subsidiary of its Subsidiaries such Borrower to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the such Borrower or any other Subsidiary thereofof such Borrower, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the such Borrower or any other Subsidiary thereofof such Borrower; provided provided, that (iA) the foregoing shall not apply to restrictions or conditions imposed by law or law, by this Agreement or any other Loan Document, or by the Contractual Obligations described on Schedule 7.5; (iiB) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, ; (iiiC) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (ai) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt Indebtedness (including, without limitation, after-acquired and subsequently arising property or Liens permitted under Section 7.2, assets securing such Indebtedness pursuant to the terms thereof); and (vD) the foregoing clause (ai) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Energysouth Inc), Credit Agreement (Energysouth Inc)
Restrictive Agreements. The Borrower will shall not, and will not permit any of shall cause its Subsidiaries not to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon upon, or to transfer to another Person, any of its assets or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stock, any Equity Interests it has issued or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof Subsidiary, or to otherwise transfer any of its property properties or assets to or invest in the Borrower or any other Subsidiary thereofSubsidiary; provided that that:
(i) the foregoing shall not apply to (x) restrictions or and conditions imposed by law or by this Agreement the Loan Documents, (y) restrictions and conditions existing on the Effective Date identified on Schedule 6.8 (but shall apply to any extension or renewal of, or any other Loan Documentamendment or modification expanding the scope of, any such restriction or condition), and (iiz) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, ; and
(iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivii) clause (a) of this Section shall not apply to (x) restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vy) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts entered into in the Ordinary Course of Business restricting the assignment thereof, or the transfer of or creation of Liens on assets subject thereto.
Appears in 2 contracts
Samples: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.), Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stock, any Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other of the Loan DocumentDocuments, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating existing on the date hereof identified on Schedule 7.09 (but shall apply to any extension or renewal of, or any amendment or modification expanding the sale of a Subsidiary pending scope of, any such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunderrestriction or condition), (iii) the foregoing shall not apply to restrictions customary provisions in leases and other contracts for sales, management, development or dispositions entered into in the ordinary course of property not prohibited by this Agreement; provided, that, such restrictions relate only to business consistent with past practice restricting the property being managed, developed or disposed ofassignment thereof, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Jupitermedia Corp), Credit Agreement (Jupitermedia Corp)
Restrictive Agreements. The Borrower Borrowers will not, and will not permit any of its their Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the a Borrower or any Subsidiary of its Subsidiaries a Borrower to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any Subsidiary of its Subsidiaries a Borrower to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the a Borrower or any other Subsidiary thereof, of a Borrower or to Guarantee Indebtedness of the a Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofa Borrower; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.05 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary of a Borrower pending such sale, provided such restrictions and conditions apply only to the Subsidiary of a Borrower that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Smith International Inc), Credit Agreement (Smith International Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries toNo Loan Party will, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries such Loan Party to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) in the case of the Guarantor, the ability of any of its Subsidiaries the Guarantor to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofBorrower; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law law, by any agreement with respect to Permitted Borrower Secured Debt or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.07 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary subsidiary that is to be sold and such sale is permitted hereunder, (iiiiv) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or and conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement under Sections 6.02(c), (e) or (f) if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Macquarie Infrastructure Corp), Credit Agreement (Macquarie Infrastructure Co LLC)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to any shares of its Capital Stock, Stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, of its Subsidiaries or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiaries; provided that (i) the foregoing shall not apply to (A) restrictions or and conditions imposed by law or by this Agreement any of the Loan Documents or equivalent documents securing Indebtedness under any other Loan DocumentPermitted Facility, (iiB) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary of the Borrower pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, hereunder or under any Permitted Facility or (iiiC) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement or any Permitted Facility if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (vii) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Senior a Credit Agreement (Reliant Energy Inc), Senior Credit Agreement (Reliant Energy Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Restricted Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Restricted Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Restricted Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document or any Amneal Debt Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Amneal Pharmaceuticals, Inc.), Revolving Credit and Term Loan Agreement (Amneal Pharmaceuticals, Inc.)
Restrictive Agreements. The Borrower will not, and nor will not it permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained set forth in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunderTerm Facility Documents, (iii) the foregoing shall not apply to restrictions in contracts for salesand conditions existing on the date hereof identified on Schedule 7.08 (but shall apply to any extension or renewal of, managementor any amendment or modification expanding the scope of, development any such restriction or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed ofcondition), (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement (other than the Term Facility) if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Exco Resources Inc), Senior Revolving Credit Agreement (Exco Resources Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, ; (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, ; (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and Indebtedness; (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof; (v) clause (b) shall not apply to any agreements containing provisions (other than any Right of First Offer or Tag Along Rights) applicable to a Portfolio Investment that prohibit, restrict or impose any condition upon the ability of the Borrower or any other Subsidiary to transfer any of its property or assets (each a “Lock-up Agreement”); and (vi) clause (b) shall not apply to any agreements that contain a Right of First Offer or Tag Along Rights applicable to a Portfolio Investment.
Appears in 2 contracts
Samples: Senior Secured Revolving Credit Agreement (Kayne Anderson Energy Development Co), Senior Secured Revolving Credit Agreement (Kayne Anderson Energy Development Co)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon upon
(a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or propertiesassets, whether now owned or hereafter acquired, or or
(b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that that
(i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement Agreement,
(ii) the foregoing shall not apply to restrictions and conditions existing on the Original Effective Date identified on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition (other Loan Document, than in connection with the extension of the maturity of any underlying Indebtedness which is otherwise permitted hereunder)),
(iiiii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or an asset pending such sale, provided such restrictions and conditions apply only to the Subsidiary or the asset that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, ,
(iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and Indebtedness and
(v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Heidrick & Struggles International Inc), Amendment and Restatement Agreement (Heidrick & Struggles International Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets Property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any the other Loan DocumentDocuments, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on SCHEDULE 6.08 or any extension, renewal, amendment or modification thereof which does not expand the scope of any such restriction or condition (but the foregoing shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or an asset pending such sale, provided such restrictions and conditions apply only to the Subsidiary or asset that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property Property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (United Surgical Partners International Inc), Credit Agreement (United Surgical Partners International Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital StockEquity Interests, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to prohibitions, restrictions or and conditions (i) imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary prohibitions, restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such prohibitions, restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions respect of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions only, imposed by any agreement relating to Secured Debt Indebtedness permitted by this Agreement if (A) if, in the case of secured Indebtedness, such prohibitions, restrictions and conditions apply only to the property or assets securing such Secured Debt Indebtedness or Liens (B) such Indebtedness is permitted under Section 7.27.1(e), and 7.1(f), 7.1(k) or 7.1(l), (viv) in respect of clause (a) shall not apply to only, that are customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof; and (v) contained in any agreement in effect at the time a Person becomes a Subsidiary pursuant to a Permitted Acquisition, so long as such agreement (1) was not entered into solely in contemplation of such Person becoming a Subsidiary, (2) applies only to such Person and (3) does not extend to any other Loan Party.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (E.W. SCRIPPS Co), Revolving Credit and Term Loan Agreement (Scripps E W Co /De)
Restrictive Agreements. The Borrower No Loan Party will, nor will not, and will not it permit any of its Subsidiaries Subsidiary to, directly or indirectly, indirectly enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stock, any Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law any Requirement of Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions set forth in any Indebtedness permitted by Section 6.01(c), (iii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any amendment or modification expanding the scope of any such restriction or condition), (iv) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness ,and (vvi) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Paycom Software, Inc.), Term Credit Agreement (Paycom Software, Inc.)
Restrictive Agreements. The Borrower Such Obligor will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any Restrictive Agreement; provided that the foregoing shall not apply to (i) restrictions and conditions imposed by law or by the Loan Documents, (ii) any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the to which Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) is party on the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Documentdate hereof, (iiiii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt Indebtedness and do not restrict the Obligations, the grant of security interest in the Collateral, or Liens permitted under Section 7.2the exercise of remedies by the Lenders against the Borrower or the Collateral following an Event of Default, and as contemplated by the Loan Documents, (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof and (vi) restrictions or conditions imposed by any agreement relating to Permitted Priority Debt or Permitted Cure Debt, provided that they do not restrict the Obligations, the grant of security interest in the Collateral, or the exercise of remedies by the Lenders against the Borrower or the Collateral following an Event of Default, as contemplated by the Loan Documents.
Appears in 2 contracts
Samples: Term Loan Agreement (TearLab Corp), Term Loan Agreement (TearLab Corp)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Restricted Subsidiary (i) to pay dividends or other distributions with respect to any shares of its Capital Stockcapital stock, (ii) to make or repay loans or advances to the Borrower Company or any other Subsidiary thereofRestricted Subsidiary, (iii) to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof Subsidiary, or to (iv) sell, lease or transfer any of its property or assets Property to the Borrower Company or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the Effective Date identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Benchmark Electronics Inc), Credit Agreement (Benchmark Electronics Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or propertiesassets, whether now owned which restriction (or hereafter acquiredcondition) is more restrictive, in substance, than the restrictions in Section 7.06 hereof, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends Distributions or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee guaranty Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided provided, that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided provided, that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Participation and Loan and Security Agreement (K-Sea Tranportation Partners Lp), Participation and Loan and Security Agreement (K-Sea Tranportation Partners Lp)
Restrictive Agreements. The No Borrower will notwill, and will not permit any of its Subsidiaries other Loan Party to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Loan Party to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Equity Interests or to make or repay loans or advances to the a Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Borrowers or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions imposed by the ABL Credit Agreement as of the Effective Date, subject to the Intercreditor Agreements, (iii) the foregoing shall not apply to restrictions and conditions imposed by the Second Lien Indenture as of the Effective Date, subject to the Second Lien Intercreditor Agreement, (iv) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivv) clause (a) above shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vvi) clause (a) above shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 2 contracts
Samples: Floor Plan First Lien Credit Agreement (Alta Equipment Group Inc.), Floor Plan First Lien Credit Agreement (Alta Equipment Group Inc.)
Restrictive Agreements. The Borrower will not, Parent and its Subsidiaries will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of the Parent and its Subsidiaries to create, incur or permit to exist any Lien upon any of its assets property or propertiesassets, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or make other distributions with respect to its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower any Credit Party or to provide Support Obligations in respect of any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower Borrower, or (c) the ability of any other Subsidiary thereof party thereto or payee thereunder to transfer any make loans, advances or payments in respect of its property or assets to the Borrower or any other Subsidiary thereofintercompany Indebtedness; provided that (i) none of the foregoing clauses shall not apply to any restrictions or and conditions imposed by law or by this Agreement any Legal Requirement or any other Loan Document, Credit Document and (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to (x) any restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness that is otherwise expressly permitted by this Agreement under Section 8.1, if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (vy) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts agreements restricting the assignment thereofthereof that are entered into in the Ordinary Course of Business or (z) any restrictions or conditions imposed by any Organizational Document of the Borrower or any of its Subsidiaries that have been waived to permit the execution, delivery and performance of this Agreement and the other Credit Documents and any Subordinated Debt.
Appears in 2 contracts
Samples: Credit Agreement (Pfsweb Inc), Credit Agreement (Pfsweb Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Restricted Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofRestricted Subsidiary, to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Restricted Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan DocumentDocument or the Senior Note Documents, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to (A) the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is sold and such sale is permitted hereunderhereunder or (B) any asset sale permitted by Section 7.6 hereof, provided such restrictions and conditions apply only to such assets, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Newmarket Corp), Revolving Credit Agreement (Newmarket Corp)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets or properties, whether now owned or hereafter acquiredin favor of the Administrative Agent for the benefit of the Lenders to secure the Obligations, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of property or a Subsidiary pending such sale, provided such restrictions and conditions apply only to the property or Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, (iv) clause (a) of the foregoing shall not apply to customary provisions in leases and other contracts restricting the assignment thereof, and (v) clause (ab) of the foregoing shall not apply to customary provisions restrictions contained in leases, subleases, licenses documents governing Indebtedness permitted hereunder so long as such restrictions are no more restrictive to the Company and other contracts restricting its Subsidiaries than the assignment thereofrestrictions or covenants contained in this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Esco Technologies Inc), Credit Agreement (Esco Technologies Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter Enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or regulations or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for salesor conditions imposed by, managementor rights arising under, development or dispositions of property not prohibited any transaction giving rise to a Lien permitted by this Agreement or any Hedging Agreement; provided, thatin each case if such restrictions, such restrictions relate conditions or rights apply only to the property being managedor assets securing or encumbered by such transaction (or obligation thereunder) or Hedging Agreement and such restrictions, developed conditions or disposed ofrights are customary for such transaction or Hedging Agreement, (iv) clause (a) the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing are customary for such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Scotts Miracle-Gro Co), Credit Agreement (Scotts Miracle-Gro Co)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Wholly Owned Subsidiary Guarantor to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets or propertiesproperty, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or (c) the ability of any Subsidiary to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement any Loan Document or any other Loan Subordinated Debt Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the Amendment/Restatement Effective Date identified on Schedule 6.12 (but shall apply to any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) above shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) above shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets or properties, whether now owned or hereafter acquiredto secure the Obligations, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.09, together with any extension, renewal, amendment or modification to the extent it does not expand the scope of any such restriction or condition, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iiiiv) the foregoing clauses (a) and (b) of this Section shall not apply to restrictions in contracts for sales, management, development or dispositions any assets that are the subject of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, a Factoring Program permitted under Section 6.17 and (ivv) clause (a) of this Section shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Liens permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofassignment, encumbrance, sub-letting or transfer of such lease and or contract.
Appears in 2 contracts
Samples: Credit Agreement (Quanex Building Products CORP), Credit Agreement (Quanex Building Products CORP)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets Property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property Property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof, (v) the foregoing shall not apply to customary provisions in joint venture agreements, limited liability company operating agreements, partnership agreements, stockholders agreements and other similar agreements and (vi) if a Subsidiary is the obligor under any secured Indebtedness permitted under this Agreement, clause (b) of the foregoing shall not apply to restrictions on dividends or distributions by such Subsidiary contained in the agreement relating to such Indebtedness.
Appears in 2 contracts
Samples: Credit Agreement (Henry Jack & Associates Inc), Credit Agreement (Henry Jack & Associates Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions under the Senior Note Agreement existing on the date hereof (but shall apply to any amendment or modification expanding the scope or duration of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary or any asset pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary or asset that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt Liens permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing subject to such Secured Debt or Liens permitted under Section 7.2, Lien and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 2 contracts
Samples: Credit Agreement (Cubic Corp /De/), Credit Agreement (Cubic Corp /De/)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement (other than as required pursuant to applicable law) that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to holders of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to customary restrictions on then-market terms for the applicable Indebtedness under any Indebtedness permitted by Section 6.01 (so long as, in the case of Indebtedness permitted under Section 6.01(a)(ii) or (b)(ii), the conditions imposed by law any such Indebtedness which constitutes extended, renewed or by this Agreement replaced Indebtedness are no more restrictive than the applicable original Indebtedness) or for any other Loan DocumentIndebtedness not prohibited hereunder, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of assets or a Subsidiary pending such sale, provided such restrictions and conditions apply only to the assets or Subsidiary that is are to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries wholly-owned Restricted Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries wholly-owned Restricted Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries wholly-owned Restricted Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Harland John H Co)
Restrictive Agreements. The Parent and the Borrower will not, and will not permit any of its Subsidiaries other Subsidiary (other than a Receivables Subsidiary) to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Loan Party to create, incur or permit to exist any Lien upon any of its property or assets to secure any of the Secured Obligations or properties, whether now owned any refinancing or hereafter acquiredreplacement thereof, or (b) the ability of any of its Subsidiaries Subsidiary (other than the Borrower) to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower Parent or any other Subsidiary thereof, Loan Party or to Guarantee Indebtedness of the Borrower Parent or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofLoan Party; provided provided, that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the Restatement Effective Date in the Term Loan Agreement, the GM Second Lien Documents or the Existing Senior Notes Indentures or identified on Schedule 6.06 or to any extension or renewal thereof, or any amendment or modification thereto that does not expand the scope of any such restriction or condition, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt (A) secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt Indebtedness or Liens permitted under Section 7.2, (B) Receivables sold pursuant to any Permitted Receivables Financing and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (American Axle & Manufacturing Holdings Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof and (v) clauses (a) and (b) shall not apply to customary restrictions and conditions contained in licenses and other agreements relating to copyrights, trade names, other items of intellectual property, software licenses, franchise agreements and consignments relating to Inventory which is not included in Eligible Inventory.
Appears in 1 contract
Restrictive Agreements. The Borrower Each Loan Party will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Administrative Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital StockEquity Interest, to make or repay loans or advances to the Administrative Borrower or any other Subsidiary, to Guarantee the Obligations of the Administrative Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Administrative Borrower or any other Subsidiary thereofof the Administrative Borrower; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law law, by this Agreement, any other Loan Document (including the Intercreditor Agreement), or by the Term Loan Credit Agreement and related documents in effect on the date hereof or, so long as such restrictions or conditions are no more onerous than those imposed under this Agreement or any other Loan DocumentDocuments, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower Loan Parties will not, and will not permit any of its their Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary the Borrower or any of its Subsidiaries pending such sale, provided that (x) such restrictions and conditions apply only to the a Subsidiary that is sold and such sale is permitted hereunderhereunder and (y) in connection with any potential sale of the Borrower, the Obligations will be satisfied and paid in full in cash and all of the Term Loan Commitments shall be terminated prior to or substantially concurrently with the consummation of such transaction, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or law, by this Agreement or any other Loan Document, or by the Existing Credit Agreement (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof and (v) the foregoing restrictions shall not apply to restrictions on any Securitization Subsidiaries contained in the documents governing any Securitization Transaction.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary, to Guarantee Indebtedness of Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property property or assets to the Borrower or any other Subsidiary thereofof Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to (x) customary provisions in leases, subleases, leases and licenses and other contracts restricting the assignment thereof, and (y) customary provisions in joint venture agreements existing as of the Closing Date prohibiting the pledge or grant of security on the joint venture property or the stock of any joint venture partner.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Restricted Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Documentthe Security Instruments, (ii) the foregoing shall not apply to customary restrictions and conditions contained (x) existing on the date of this Agreement identified on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition so as to cause such restriction or condition to be more restrictive than the restriction or condition in agreements relating existence on the date of this Agreement) or (y) arising or agreed to after the sale date of a Subsidiary pending this Agreement; provided that such sale, provided such restrictions or conditions are not more restrictive than the restrictions and conditions apply only to existing on the Subsidiary that is sold date of this Agreement and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to of the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: 364 Day Revolving Credit Agreement (NuStar GP Holdings, LLC)
Restrictive Agreements. The Borrower No Issuer will, nor will not, and will not it permit any of its Subsidiaries other Notes Party to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Notes Party to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower an Issuer or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Issuers or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions imposed by the First Lien Credit Agreement or the Floor Plan Credit Agreement as of the Effective Date, subject to the First Lien Intercreditor Agreement, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) above shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) above shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Samples: Note Purchase Agreement (B. Riley Principal Merger Corp.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital StockStock (including, without limitation, those required by Section 5.13), to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary Subsidiary, or of any assets, pending such sale, provided such restrictions and conditions apply only to the Subsidiary or assets that is are sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof or to customary provisions in contracts relating to the purchase, sale, cession, retrocession or assumption of interests in insurance risks.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Fpic Insurance Group Inc)
Restrictive Agreements. The Borrower No Credit Party will, nor will not, and will not it permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower any Credit Party or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its assets Property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower any Borrower, any Guarantor or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the Borrower any Borrower, any Guarantor or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained set forth in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunderLoan Documents, (iii) the foregoing shall not apply to restrictions in contracts for salesand conditions existing on the date hereof identified on Schedule 6.09 (but shall apply to any extension or renewal of, managementor any amendment or modification expanding the scope of, development any such restriction or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed ofcondition), (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property Property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets assets, revenues or properties, whether now owned or hereafter acquired, or (b) the ability of the Borrower or any Subsidiary to guarantee the Obligations or otherwise be a Loan Party pursuant to the Loan Documents or (c) the ability of its Subsidiaries any Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, however, that (i) the foregoing shall not apply to restrictions or conditions set forth in Schedule 8.7 or restrictions or conditions imposed by law or by this Agreement or any other Loan DocumentDocument or the Senior Note Documents, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, ; provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, hereunder and (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement hereby if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereofIndebtedness.
Appears in 1 contract
Restrictive Agreements. The Each of Holdings and the Borrower will not, and each, as applicable, will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of Holdings, the Borrower or any of its Subsidiaries other Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets or properties, whether now owned or hereafter acquired, or (b) the ability of (i) any Subsidiary that is a subsidiary of its Subsidiaries the Borrower to pay dividends or other distributions with respect to any shares of its Capital Stock, Stock or (ii) any Subsidiary other than the Borrower to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided PROVIDED that (iA) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (iiB) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (C) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary other than the Borrower pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivD) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vE) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Endo Pharmaceuticals Holdings Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Liens permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof. Notwithstanding anything herein to the contrary, the provisions of this Agreement (including, without limitation under this Section 6.09) shall not prohibit the use by Borrower, any Guarantor, or any Subsidiary of Acceptable Unencumbered Properties as a borrowing base for other Unsecured Debt.
Appears in 1 contract
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets to secure the obligations of the Borrowers hereunder or properties, whether now owned or hereafter acquiredunder any guaranty thereof, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentSwap Agreement with a Lender or an Affiliate of a Lender that incorporates the covenants herein by reference, (ii) the foregoing shall not apply to restrictions and conditions existing or anticipated on the Second Amendment Effective Date identified on Schedule 6.08 (but shall apply to any extension or renewal of, or any amendment or modification of, any such restriction or condition expanding the scope thereof), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Molex Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law law, or by this Agreement or any other Loan DocumentDocument or under an existing revolving credit loan agreement with InTrust Bank, N.A., (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting entered into in the assignment thereofordinary course of business.
Appears in 1 contract
Samples: Revolving Credit Loan Agreement (Lone Star Steakhouse & Saloon Inc)
Restrictive Agreements. The Borrower will not, not and will not permit any of its Subsidiaries (other than any Unrestricted Subsidiary) to, directly or indirectly, enter into, incur into or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon on (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur create or permit to exist any Lien upon on any of its assets or properties, whether now owned or hereafter acquired, property or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness Debt of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, any Senior Unsecured Debt Document or any document evidencing any Receivables Financing, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof and identified on Schedule 6.10 (but shall apply to any amendment or modification expanding the scope of , or any extension or renewal of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of this Section shall not apply to restrictions or conditions imposed by any agreement relating to Secured secured Debt permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) of this Section shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower No Loan Party will, nor will not, and will not it permit any of its Subsidiaries Subsidiary to, directly or indirectly, indirectly enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stock, any Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer Subsidiary, in each case in any of its property or assets to the Borrower or any other Subsidiary thereofMaterial respect; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law any Requirement of Law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions granted by the Loan Parties in good faith and contained in agreements entered into in the normal course of business, (iii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any amendment or modification expanding the scope of, any such restriction or condition), (iv) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vvi) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (CRH Medical Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Wholly Owned Subsidiary Guarantor to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets or propertiesproperty, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or (c) the ability of any Subsidiary to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement any Loan Document or any other Loan Subordinated Debt Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.12 (but shall apply to any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) above shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) above shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (SPX Corp)
Restrictive Agreements. The Borrower will not, and will not permit any Loan Party, or any Subsidiary of its Subsidiaries any Loan Party, to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries such Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends in cash any Management Fees or other distributions with respect Incentive Fees to its Capital Stockthe Persons entitled thereto, the ability to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof its Subsidiaries or to transfer guarantee Debt of any Loan Party or any of its property Subsidiaries or assets the ability in any material respect to the Borrower pay dividends or other distributions with respect to any other Subsidiary thereof; of its Securities, provided that that:
(i) the foregoing shall not apply to (w) restrictions existing on the Closing Date, (x) restrictions on Excluded Subsidiaries or Immaterial Subsidiaries, (y) restrictions and conditions imposed by law law, rule or regulation or by this Agreement or any other Loan Document, Documents and (iiz) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary any property pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing that is to be sold and such Secured Debt or Liens sale is permitted under Section 7.2, and this Agreement; and
(vii) clause (a) of the foregoing shall not apply to (x) customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof or the property subject thereto or (y) customary provisions of any Purchase Money Debt, provided that such provisions apply only to the property or assets being acquired with such Purchase Money Debt.
Appears in 1 contract
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that except:
(i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, Agreement;
(ii) restrictions and conditions existing on the foregoing Original Effective Date set forth on Schedule 7.09 (but shall not apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition);
(iii) customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, ; provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, ;
(iv) (with respect to clause (a) shall not apply to above) (x) restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (vy) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof; and
(v) (with respect to clause (a) above) provisions in any lease or lease agreement, or any restrictions or conditions imposed by any landlord, prohibiting or restricting the granting, creation or incurrence of any liens on any premises leased by the Company or any of its Subsidiaries.
Appears in 1 contract
Samples: Credit Agreement (Cdi Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stock, any Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other of the Loan DocumentDocuments, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating existing on the date hereof identified on Schedule 6.09 (but shall apply to any extension or renewal of, or any amendment or modification expanding the sale of a Subsidiary pending scope of, any such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunderrestriction or condition), (iii) the foregoing shall not apply to restrictions customary provisions in leases and other contracts for sales, management, development or dispositions entered into in the ordinary course of property not prohibited by this Agreement; provided, that, such restrictions relate only to business consistent with past practice restricting the property being managed, developed or disposed ofassignment thereof, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Jupitermedia Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its the Borrower’s Subsidiaries to pay dividends or other distributions with respect to its Capital StockEquity Interests, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness Debt of the Borrower or any other Subsidiary thereof of its Subsidiaries or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof its Subsidiaries; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by law, this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts or sublicenses restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and nor will not it permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets that are, or propertiesare required by any Loan Document to be, whether now owned subject to Liens created by this Agreement or hereafter acquiredthe Security Instruments hereunder, or (b) the ability of any of its Subsidiaries Restricted Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating existing on the date hereof pursuant to the sale of a Subsidiary pending JVEA Documents (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunderrestriction or condition), (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) of the foregoing shall not apply to customary provisions in leases (other than oil and gas leases, subleases, licenses ) and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Gasco Energy Inc)
Restrictive Agreements. The Borrower Parent will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Holdings or any of its Subsidiaries the Loan Parties to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any Subsidiary of its Subsidiaries the Parent to pay dividends or other distributions with respect to its Capital Stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofLoan Party, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof Loan Party or to transfer any all or substantially all of its property or assets to the Borrower or any other Subsidiary Loan Party thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the permitted sale of a Subsidiary or any asset pending such sale, provided such restrictions and conditions apply only to the Subsidiary or asset that is sold and such sale is is, or will be prior to the consummation thereof, permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) the foregoing shall not apply to customary provisions in leases, subleases, licenses and or other contracts agreements restricting the assignment thereof., (v) the foregoing shall not apply to customary restrictions in joint venture agreements and other similar agreements applicable to joint ventures permitted hereunder and applicable solely to such joint venture,
Appears in 1 contract
Restrictive Agreements. The Each of the Borrower and the Parent will not, and will not permit any of its their respective Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Parent or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Parent or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Parent or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or law, by this Agreement or the Note Purchase Agreement (or any other Loan Documentreplacement thereof permitted pursuant to Section 6.03(j)), (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries consolidated Subsidiary or any Loan Party to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary or any Loan Party to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary or any Loan Party to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions or conditions contained in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, the Term Loan B Credit Agreement and such restrictions relate only to the property being managed, developed or disposed ofloan documents as defined therein, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
17. Section 7.9 of the Credit Agreement shall be amended and restated in its entirety as follows:
Appears in 1 contract
Samples: Credit Agreement (United Surgical Partners International Inc)
Restrictive Agreements. The Borrower None of the Borrowers will, nor will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the any Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the any Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the any Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentDocument or upon any Financing SPE by any lender thereto or investor therein, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.7 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower Company will not, and will not permit any of its the Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Domestic Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (ia) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement any Loan Document or by any agreement, document or instrument relating to any Securitization or any other Loan Documentindenture, agreement or instrument evidencing or governing Indebtedness, in each case, as in effect on the Effective Date or as modified in accordance herewith, or relating to the Existing Securitization as modified in accordance herewith, (iib) the foregoing shall not apply to restrictions and conditions existing on the Effective Date identified on Schedule 6.09 (but shall apply to any amendment or modification expanding the scope of any such restriction or condition), (c) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or assets pending such sale, provided such restrictions and conditions apply only to the Subsidiary or assets that is are to be sold and such sale is permitted hereunder, and (iiid) the foregoing shall Company and any Subsidiary may enter into agreements limiting Guarantees by Subsidiaries, provided that any such agreements do not apply prohibit or limit the amount of or impair the Guarantees issued or required to restrictions be issued in contracts for sales, management, development or dispositions of property not prohibited by connection with this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower It will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement, other than the Loan Documents, that prohibits, restricts or imposes any condition upon (a) except for Liens on Equity Interests in Joint Ventures owned by a Restricted Subsidiary created by the customary provisions in Joint Venture agreements and other similar agreements applicable to Joint Ventures or created by agreements evidencing Indebtedness of Joint Ventures, the ability of the Borrower it or any of its Restricted Subsidiaries to create, incur or permit to exist any Lien created under a Loan Document upon any of its assets Property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Restricted Subsidiaries to pay dividends or other distributions make Restricted Payments with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower it or any other Restricted Subsidiary thereof, or it or any of its Restricted Subsidiaries to Guarantee Indebtedness of the Borrower it or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofRestricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to such prohibitions, restrictions and conditions contained in contracts for salesany agreement evidencing or governing, managementor pursuant to which there has been issued, development Indebtedness or dispositions of property Disqualified Equity permitted by Section 6.01(g), so long as the Liens created under the Security Documents are not prohibited by this Agreement; providedprohibited, that, such restrictions relate only restricted or conditioned in any manner (except as to the property being managedassets of the applicable Restricted Subsidiary that secure such Indebtedness, developed or disposed ofif any), (iv) clause (a) above shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such prohibitions, restrictions and conditions apply only contained in any agreement evidencing or governing, or pursuant to which there has been issued, Indebtedness permitted by Section 6.01(h), so long as the Liens created under the Security Documents are not prohibited, restricted or conditioned in any manner (except as to the property or assets Property securing such Secured Debt or Liens permitted under Section 7.2Indebtedness), and (v) clause (a) above shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof, (vi) clause (a) above shall not apply to such prohibitions, restrictions and conditions contained in the Free State Acquisition Documents applicable to FS SPE 1, subject to the limitations on amendment set forth in the Loan Documents, and so long as the Liens created under the Security Documents are not prohibited, restricted or conditioned in any manner, (vii) clause (a) above shall not apply to such prohibitions, restrictions and conditions contained in the NEJD Transaction Documents applicable to NEJD SPE 1, subject to the limitations on amendment set forth in the Loan Documents, and so long as the Liens created under the Security Documents are not prohibited, restricted or conditioned in any manner (other than a condition requiring the execution of the NEJD Consent which was satisfied on May 30, 2008), and (viii) clause (a) above shall not apply to such prohibitions, restrictions and conditions contained in any Material Agreements evidencing or governing, or pursuant to which there has been issued, Indebtedness or Disqualified Equity permitted by Section 6.01(j), subject to the limitations on amendments as set forth in the Loan Documents, so long as the Liens created under the Security Documents are not prohibited, restricted or conditioned in any manner.
Appears in 1 contract
Samples: Credit Agreement (Genesis Energy Lp)
Restrictive Agreements. The Except as otherwise provided herein, the Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or propertiesassets, whether now owned or hereafter acquiredincluding without limitation the Borrower’s Intellectual Property as defined in the Credit Agreement, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other the Loan DocumentDocuments, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.09 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Actuate Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital StockEquity Interests, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or Agreement, any other Loan DocumentDocument or the Second Lien Indebtedness Documents, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts or sublicenses restricting the assignment thereof.
Appears in 1 contract
Samples: First Lien Credit Agreement (Magnum Hunter Resources Corp)
Restrictive Agreements. The Borrower KPP will not, and will not permit any Subsidiary of its Subsidiaries KPP (other than any Excluded Subsidiary) to, directly or indirectly, enter into, incur or permit to exist any agreement (i) that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any Subsidiary of its Subsidiaries KPP to pay dividends or other distributions make Distributions with respect to its Capital StockEquity Interests, to make or repay loans or advances to the Borrower or any other Subsidiary thereofGuarantor, to Guarantee guarantee Indebtedness of the Borrower or any other Subsidiary thereof Guarantor or to transfer any of its property or assets to the Borrower or any other Guarantor, or (ii) contains any prohibitions or restrictions on KPP or such Subsidiary thereofthat are more restrictive than the covenants contained in this Agreement; provided provided, that (iA) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or Agreement, any other Loan Document, the Bridge Loan Agreement, and the Senior Notes Indenture, (iiB) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a any Subsidiary of KPP pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, hereunder and (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivC) clause (ai) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the on transfer of property or assets securing such Secured Debt to Borrower or any Guarantor contained in any agreement or indenture pursuant to which Indebtedness is issued to refinance the Bridge Loan in full so long as any restriction on transfer of property or assets and any restriction on granting Liens permitted under Section 7.2, is no more restrictive than the restrictions on transferring property and (v) clause (a) shall not apply granting Liens contained in the Senior Notes Indenture as in effect on the date of Amendment No. 2 to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereofthis Revolving Credit Agreement.
Appears in 1 contract
Samples: Revolving Credit Agreement (Kaneb Pipe Line Operating Partnership Lp)
Restrictive Agreements. The Borrower will not, shall not and will shall not permit any of its Subsidiaries to, directly or indirectly, enter into, incur into or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon on (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur create or permit to exist any Lien upon on any of its assets or properties, whether now owned or hereafter acquired, property or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness Debt of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof and identified on Schedule 6.10 (but shall apply to any amendment or modification expanding the scope of, or any extension or renewal of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of this Section shall not apply to restrictions or conditions imposed by any agreement relating to Secured secured Debt permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Debt, and (v) clause (a) of this Section shall not apply to customary provisions in leasesa lease if such provisions apply only to the property that is the subject of such lease, subleases, licenses and (vi) clause (a) of this Section shall not apply to customary provisions in leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any Loan Party, or any Subsidiary of its Subsidiaries any Loan Party, to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower such Loan Party or any of its Subsidiaries such Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends in cash any Management Fees or other distributions with respect Incentive Fees to its Capital Stockthe Persons entitled thereto, the ability to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof its Subsidiaries or to transfer guarantee Debt of any Loan Party or any of its property Subsidiaries or assets the ability in any material respect to the Borrower pay dividends or other distributions with respect to any other Subsidiary thereof; of its Securities, provided that that:
(i) the foregoing shall not apply to (w) restrictions existing on the Closing Date, (x) restrictions on Excluded Subsidiaries or Immaterial Subsidiaries, (y) restrictions and conditions imposed by law law, rule or regulation or by this Agreement or any other Loan Document, Documents and (iiz) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary any property pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing that is to be sold and such Secured Debt or Liens sale is permitted under Section 7.2, and this Agreement; and
(vii) clause (a) of the foregoing shall not apply to (x) customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof or the property subject thereto, (y) customary provisions of any Purchase Money Debt, provided that such provisions apply only to the property or assets being acquired with such Purchase Money Debt, or (z) customary provisions in agreements governing Debt incurred under Section 6.1(b).
Appears in 1 contract
Samples: Amendment No. 4 (Ares Management Lp)
Restrictive Agreements. The Parent and the Borrower will not, and will not permit any of its Subsidiaries other Subsidiary (other than a Receivables Subsidiary) to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Loan Party to create, incur or permit to exist any Lien upon any of its property or assets to secure any of the Secured Obligations or properties, whether now owned any refinancing or hereafter acquiredreplacement thereof, or (b) the ability of any of its Subsidiaries Subsidiary (other than the Borrower) to pay dividends or other distributions with respect to any of its Capital Stock, Equity Interests or to make or repay loans or advances to the Borrower Parent or any other Subsidiary thereof, Loan Party or to Guarantee Indebtedness of the Borrower Parent or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofLoan Party; provided provided, that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on June 30, 2011 in the Senior Secured Notes Indenture, the GM Access and Security Agreement or in the Existing Senior Notes Indentures or identified on Schedule 6.06 or to any extension or renewal thereof, or any amendment or modification thereto that does not expand the scope of any such restriction or condition, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt to
(A) secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt Indebtedness or Liens permitted under Section 7.2, (B) Receivables sold pursuant to any Permitted Receivables Financing and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Revolving Credit Agreement (American Axle & Manufacturing Holdings Inc)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to its Capital Stockcommon stock, to make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof and (v) the foregoing shall not apply to any restrictions created in connection with any Qualified Securitization Financing that, in the good faith determination of the Borrower, are necessary or advisable to effect such Securitization Facility.
Appears in 1 contract
Restrictive Agreements. The Such Borrower will not, shall not and will shall not permit the Intermediate Holding Company, or any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon upon: (a) the ability of the such Borrower or any of its Subsidiaries to create, incur or permit to exist any Lien upon any of its property or assets or properties(other than with respect to specific property covered by a Permitted Lien and customary provisions restricting assignments, whether now owned or hereafter acquiredsubletting and other transfers contained in leases, or licenses, client agreements, vendor agreements and other similar agreements entered into in the ordinary course of business); (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to any shares of its Capital Stock, ; or (c) any of its Subsidiaries to make or repay loans or advances to the a Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; a Borrower, provided that (i) the foregoing shall not apply to restrictions or and conditions (i) imposed by law or by this Agreement or any other the Loan DocumentDocuments, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements any an agreement relating to any Disposition not prohibited hereunder (to the sale of a Subsidiary pending such sale, provided extent such restrictions and conditions apply are customary and shall relate only to the Subsidiary applicable property) or otherwise relating to a Disposition that is sold and such sale is permitted conditioned upon the amendment, restatement or replacement of this Agreement or the repayment in full of amounts owing hereunder, (iii) consisting of restrictions regarding licenses or sublicenses by a Loan Party of Intellectual Property in the foregoing shall not apply to restrictions ordinary course of its business (in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, which case such restrictions shall relate only to the property being managed, developed or disposed of, such Intellectual Property and (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to consisting of customary anti-assignment provisions found in contractual obligations entered into in the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereofordinary course of its business.
Appears in 1 contract
Restrictive Agreements. The Without the prior written consent of Lender, which consent shall not be unreasonably delayed, denied or withheld, the Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to (a) create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or make any other distributions with respect on any of such Subsidiary’s Capital Stock owned by the Borrower or any other Subsidiary of the Borrower, repay or prepay any Indebtedness owed by such Subsidiary to its Capital Stockthe Borrower or any other Subsidiary of the Borrower, to make or repay loans or advances to the Borrower or any other Subsidiary thereofof the Borrower, to Guarantee guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer transfer, lease or license any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower including, but not limited to, any such restriction referenced in Section 4.13(a) hereof; provided provided, that (i) the foregoing clause (a) shall not apply to prohibit: (x) customary provisions in leases restricting the assignment thereof and (y) restrictions in agreements evidencing purchase money Indebtedness permitted by Section 7.1(h) that impose restrictions on the property so acquired, and (ii) clause (b) shall not prohibit: (x) restrictions or conditions imposed by law or by this Agreement or any other Loan Document, or (iiy) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Term Loan Agreement (BNC Bancorp)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its the Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Domestic Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement any Loan Document or by any agreement, document or instrument relating to any Securitization or any other Loan Documentindenture, agreement or instrument evidencing or governing Indebtedness, in each case, as in effect on the Closing Date or as modified in accordance herewith, or relating to the Existing Securitization as modified in accordance herewith, (ii) the foregoing shall not apply to restrictions and conditions existing on the Closing Date identified on Schedule 6.08 (but shall apply to any amendment or modification expanding the scope of any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or assets pending such sale, provided such restrictions and conditions apply only to the Subsidiary or assets that is are to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, and (iv) clause (a) shall the Company and any Subsidiary may enter into agreements limiting Guarantees by Subsidiaries, provided that any such agreements do not apply prohibit or limit the amount of or impair the Guarantees issued or required to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by be issued in connection with this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereofAgreement.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Amerisourcebergen Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter Enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (ai) the ability of the Borrower or any of its Subsidiaries Companies to create, incur or permit to exist any Lien upon any of its assets or properties, whether now owned or hereafter acquiredthe Collateral (other than Permitted Liens), or (bii) the ability of any of its Subsidiaries Company (other than an Immaterial Company) to pay dividends or other distributions with respect to any of its Capital Stock, Stock or to make or repay loans or advances to the Borrower Companies or any other Subsidiary thereof, or to Guarantee guaranty Indebtedness of the Borrower a Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to (A) restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (iiB) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be DOC ID - 18336046.11 sold and such sale is permitted hereunder, (iiiC) restrictions and conditions imposed in respect of the foregoing shall not apply to restrictions in contracts for salesTerm Loan Documents and any extensions, management, development renewals or dispositions replacements of property not prohibited by such Term Loan Documents established simultaneously with the expiration or termination of any Term Loan Agreement permitted under this Agreement; provided, thathowever, that the restrictions and conditions of the Term Loan Documents and any extensions, renewals or replacements of such Term Loan Documents do not conflict with the obligations of the Loan Parties set forth herein or in the other Loan Documents and the restrictions relate only and conditions thereof (taken as a whole) are no less favorable to the property being managedLenders in any material respect than the restrictions and conditions imposed by the Term Loan Agreement (as in effect on November 26, developed or disposed of, 2012); (ivD) clause (ai) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness or Capitalized Lease Obligations permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt Indebtedness or Liens permitted under Section 7.2, Capitalized Lease Obligations and (vE) clause (ai) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to (i) pay dividends or other distributions with respect to its Capital Stockcommon stock, to (ii) make or repay loans or advances to the Borrower or any other Subsidiary thereofSubsidiary, to (iii) Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to (iv) transfer any of its property or assets to the Borrower or any other Subsidiary thereofof the Borrower; provided provided, that (i1) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or any other Loan Document, (ii2) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv3) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (v4) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereofthereof and (5) clause (b)(ii) and (iii) shall not apply to restrictions or conditions imposed by any agreement relating to Trust Indebtedness or Trust Preferred Securities consistent with those in place on the Closing Date.
Appears in 1 contract
Samples: Revolving Credit Agreement (Boston Private Financial Holdings Inc)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.15 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to any Restructuring Transaction Documents in connection with a Restructuring permitted hereby so long as such restrictions are necessary (as determined by the Company in good faith in consultation with its legal and/or tax advisors) in order to effect the related Restructuring, (iv) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (ivv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (vvi) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Stepan Co)
Restrictive Agreements. The No Borrower will notwill, and will not permit any of its Subsidiaries other Loan Party to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Loan Party to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, Equity Interests or to make or repay loans or advances to the a Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Borrowers or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions imposed by the Floor Plan Credit Agreement or the Second Lien Indenture as of the Effective Date, subject to the Intercreditor Agreements, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) above shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) above shall not apply to customary provisions in leases, subleases, licenses and other contracts leases restricting the assignment thereof.
Appears in 1 contract
Samples: Abl First Lien Credit Agreement (Alta Equipment Group Inc.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly Directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by insurance law and related regulations or other law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the Effective Date identified on Schedule 6.09 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2Indebtedness, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereofthereof and (vi) any tax sharing, tax allocation or similar tax arrangement or agreement entered into among the Borrower and its Subsidiaries.
Appears in 1 contract
Samples: Credit Agreement (Amtrust Financial Services, Inc.)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly Directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower Company or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement the Loan Documents, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.07 (or any extension or renewal of, or any amendment or modification to, or any other Loan Documentrestriction or condition contained in the agreements governing future Indebtedness of the Company that is substantially identical in substance to, such restriction or condition that does not expand the scope of such restriction or condition), (iiiii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or other asset pending such sale, provided such restrictions and conditions apply only to the Subsidiary or other asset that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2any Indebtedness, and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof, (vi) clause (b) of the foregoing shall not apply to customary restrictions contained in senior unsecured notes or bonds issued by the Company and (vii) the foregoing shall not apply to restrictions and conditions set forth in the Permitted Receivables Financing, but shall apply to any amendment or modification expanding the scope of any such restriction or condition.
Appears in 1 contract
Samples: Credit Agreement (Cummins Inc)
Restrictive Agreements. The Except as otherwise permitted hereunder, the Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries Subsidiary to create, incur or permit to exist any Lien upon any of its assets property or properties, whether now owned or hereafter acquiredassets, or (b) the ability of any of its Subsidiaries Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary thereof, or to Guarantee guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (i) the foregoing shall not apply to restrictions or restrictions, exceptions and conditions imposed or permitted by law or by this Agreement or any other Loan DocumentAgreement, (ii) the foregoing shall not apply to restrictions, exceptions and conditions existing on the date hereof identified on Schedule IV (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions restrictions, exceptions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions restrictions, exceptions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iiiiv) clause (a) of the foregoing shall not apply to restrictions in contracts for salesrestrictions, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions exceptions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and or conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases, subleases, licenses leases and other contracts restricting the assignment thereof.
Appears in 1 contract
Samples: Credit Agreement (Gatx Capital Corp)
Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries to pay dividends or other distributions with respect to its Capital StockEquity Interests, to make or repay loans or advances to the Borrower or any other Subsidiary thereof, to Guarantee Indebtedness of the Borrower or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereof; provided that (i) the foregoing shall not apply to restrictions or conditions imposed by law or by this Agreement or Agreement, any other Loan DocumentDocument or the First Lien Indebtedness Documents, (ii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary that is sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions in contracts for sales, management, development or dispositions of property not prohibited by this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt secured Indebtedness permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, Indebtedness and (viv) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts or sublicenses restricting the assignment thereof.
Appears in 1 contract
Samples: Second Lien Term Loan Agreement (Magnum Hunter Resources Corp)
Restrictive Agreements. The Borrower Company will not, and will not permit any of its the Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any of its Subsidiaries to create, incur or permit any Lien upon any of its assets or properties, whether now owned or hereafter acquired, or (b) the ability of any of its Subsidiaries Domestic Subsidiary to pay dividends or other distributions with respect to any shares of its Capital Stock, capital stock or to make or repay loans or advances to the Borrower Company or any other Subsidiary thereof, or to Guarantee Indebtedness of the Borrower Company or any other Subsidiary thereof or to transfer any of its property or assets to the Borrower or any other Subsidiary thereofSubsidiary; provided that (ia) the foregoing shall not apply to restrictions or and conditions imposed by law or by this Agreement any Loan Document or by any agreement, document or instrument relating to any Securitization or any other Loan Documentindenture, agreement or instrument evidencing or governing Indebtedness, in each case, as in effect on the Restatement Effective Date or as modified in accordance herewith, or relating to the Existing Securitization as modified in accordance herewith, (iib) the foregoing shall not apply to restrictions and conditions existing on the Restatement Effective Date identified on Schedule 6.08 (but shall apply to any amendment or modification expanding the scope of any such restriction or condition), (c) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary or assets pending such sale, provided such restrictions and conditions apply only to the Subsidiary or assets that is are to be sold and such sale is permitted hereunder, and (iiid) the foregoing shall Company and any Subsidiary may enter into agreements limiting Guarantees by Subsidiaries, provided that any such agreements do not apply prohibit or limit the amount of or impair the Guarantees issued or required to restrictions be issued in contracts for sales, management, development or dispositions of property not prohibited by connection with this Agreement; provided, that, such restrictions relate only to the property being managed, developed or disposed of, (iv) clause (a) shall not apply to restrictions or conditions imposed by any agreement relating to Secured Debt permitted by this Agreement if such restrictions and conditions apply only to the property or assets securing such Secured Debt or Liens permitted under Section 7.2, and (v) clause (a) shall not apply to customary provisions in leases, subleases, licenses and other contracts restricting the assignment thereof.
Appears in 1 contract