Subordinated Indebtedness and Amendments to Subordinated Indebtedness Documents. The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire, any Subordinated Indebtedness or any Indebtedness from time to time outstanding under the Subordinated Indebtedness Documents. Furthermore, the Company will not, and will not permit any Restricted Subsidiary to, amend the Subordinated Indebtedness Documents or any document, agreement or instrument evidencing any Indebtedness incurred pursuant to the Subordinated Indebtedness Documents (or any replacements, substitutions, extensions or renewals thereof) or pursuant to which such Indebtedness is issued where such amendment, modification or supplement provides for the following or which has any of the following effects: (a) shortens or accelerates the date upon which any installment of principal or interest becomes due or adds any additional mandatory redemption provisions or (b) shortens the final maturity date of such Indebtedness or otherwise accelerates the amortization schedule with respect to such Indebtedness.
Appears in 6 contracts
Samples: Credit Agreement (Worthington Industries Inc), Credit Agreement (Worthington Industries Inc), Credit Agreement (Worthington Industries Inc)
Subordinated Indebtedness and Amendments to Subordinated Indebtedness Documents. The Company Borrower will not, and will not permit any Restricted Subsidiary to, directly or indirectly voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire, any Subordinated Indebtedness or any Indebtedness from time to time outstanding under the Subordinated Indebtedness Documents. Furthermore, the Company Borrower will not, and will not permit any Restricted Subsidiary to, amend the Subordinated Indebtedness Documents or any document, agreement or instrument evidencing any Indebtedness incurred pursuant to the Subordinated Indebtedness Documents (or any replacements, substitutions, extensions or renewals thereof) or pursuant to which such Indebtedness is issued where such amendment, modification or supplement provides for the following or which has any of the following effects:
(a) shortens or accelerates increases the date upon which overall principal amount of any installment of principal or interest becomes due or adds any additional mandatory redemption provisions orsuch Indebtedness (unless such increase could be increased at such time under Section 6.01);
(b) shortens amends or modifies any provision in any manner which would cause such Subordinated Indebtedness to no longer qualify for Permitted Qualifying Indebtedness; and
(c) to the final maturity date of extent such Indebtedness amendment, modification or otherwise accelerates the amortization schedule with waiver could reasonably be expected to be adverse in any material respect to such Indebtednessthe Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Par Pharmaceutical Companies, Inc.), Credit Agreement (Par Pharmaceutical Companies, Inc.)
Subordinated Indebtedness and Amendments to Subordinated Indebtedness Documents. The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire, any Subordinated Indebtedness or any Indebtedness from time to time outstanding under the Subordinated Indebtedness Documents. Furthermore, the Company will not, and will not permit any Restricted Subsidiary to, amend the Subordinated Indebtedness Documents or any document, agreement or instrument evidencing any Indebtedness incurred pursuant to the Subordinated Indebtedness Documents (or any replacements, substitutions, extensions or renewals thereof) or pursuant to which such Indebtedness is issued where such amendment, modification or supplement provides for the following or which has any of the following effects:
(a) shortens increases the overall principal amount of any such Indebtedness or accelerates increases the date upon which amount of any single scheduled installment of principal or interest becomes due or adds any additional mandatory redemption provisions or
(b) shortens the final maturity date of such Indebtedness or otherwise accelerates the amortization schedule with respect to such Indebtedness.interest;
Appears in 1 contract
Samples: Credit Agreement (Hardinge Inc)