Common use of Subsidiary Dividends Clause in Contracts

Subsidiary Dividends. Other than those restrictions existing as of the Effective Date or described in Schedule 5.2(o) without giving effect to any amendment thereof on or after the Effective Date, permit any of its Restricted Subsidiaries, directly or indirectly, to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction which by its terms materially restricts the ability of any such Subsidiary to (i) pay dividends or make any other distributions on such Restricted Subsidiary's Capital Stock, (ii) pay any Indebtedness owed to the Company or any of its other Restricted Subsidiaries, (iii) make any loans or advances to the Company or any of such other Restricted Subsidiaries or (iv) transfer any material portion of its assets to the Company or any of such other Restricted Subsidiaries.

Appears in 3 contracts

Samples: Credit Agreement (Prudenville Manufacturing Inc), Credit Agreement (Prudenville Manufacturing Inc), Credit Agreement (Oxford Automotive Inc)

AutoNDA by SimpleDocs

Subsidiary Dividends. Other than those restrictions existing as of the Effective Date or described in Schedule 5.2(o) 6.12 without giving effect to any amendment thereof on or after the Effective Date, permit any of its Restricted Subsidiaries, directly or indirectly, to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction which by its terms materially restricts the ability of any such Subsidiary to (i) pay dividends or make any other distributions on such Restricted Subsidiary's Capital Stock, (ii) pay any Indebtedness owed to the Company or any of its other Restricted Subsidiaries, (iii) make any loans or advances to the Company or any of such other Restricted Subsidiaries or (iv) transfer any material portion of its assets to the Company or any of such other Restricted Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Oxford Automotive Inc)

AutoNDA by SimpleDocs

Subsidiary Dividends. Other than those restrictions existing as of the Effective Date or described in Schedule 5.2(o) 6.12 without giving effect to any amendment thereof on or after the Effective Date, permit any of its Restricted Subsidiaries, directly or indirectly, to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction which by its terms materially restricts the ability of any such Subsidiary to (i) pay dividends or make any other distributions 82 88 on such Restricted Subsidiary's Capital Stock, (ii) pay any Indebtedness owed to the Company or any of its other Restricted Subsidiaries, (iii) make any loans or advances to the Company or any of such other Restricted Subsidiaries or (iv) transfer any material portion of its assets to the Company or any of such other Restricted Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Oxford Automotive Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!