Common use of Subsidiary Covenants Clause in Contracts

Subsidiary Covenants. The Company will not, and will not permit any Subsidiary to, create or otherwise cause to become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to pay dividends or make any other distribution on its stock, or make any other Restricted Payment, pay any Debt or other obligation owed to the Company or any other Subsidiary, make loans or advances or other Investments in the Company or any other Subsidiary or sell, transfer or otherwise convey any of its property to the Company or any other Subsidiary.

Subsidiary Covenants. The Company will not, and will not permit any Subsidiary to, create or otherwise permit to exist or cause to become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to pay dividends or make any other distribution on its stock, or make any other Restricted Payment, pay any Debt Indebtedness or other obligation Obligation owed to the Company or any other Subsidiary, make loans or advances or other Investments in the Company or any other Subsidiary Subsidiary, or sell, transfer or otherwise convey any of its property to the Company or any other Subsidiary.

Subsidiary Covenants. The Company will not, and will not permit any Material Subsidiary to, create or otherwise cause to become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary to pay dividends or make any other distribution on its stock, or make any other Restricted Payment, pay any Debt Indebtedness or other obligation Obligation owed to the Company or any other Subsidiary, make loans or advances or other Investments in the Company or any other Subsidiary Subsidiary, or sell, transfer or otherwise convey any of its property to the Company or any other Subsidiary.