Permitted Payment Restriction means any encumbrance or restriction (each, a “restriction”) on the ability of any Restricted Subsidiary to pay dividends or make any other distributions on its Equity Interests to the Borrower or a Restricted Subsidiary, which restriction would not materially impair the Borrower’s ability to make scheduled payments of cash interest and to make required principal payments on the Loans as determined in good faith by a Responsible Officer of the Borrower, whose determination shall be conclusive.
Permitted Payment Restriction means, with respect to any Restricted Subsidiary, any restriction that (i) becomes effective only upon the occurrence of (x) specified events under its Organization Documents or (y) a default by such Restricted Subsidiary in the payment of principal of or interest, a bankruptcy default, a default on any financial covenant or any other material event of default (or, solely in the case of Indebtedness owing to a third party lender, any default or event of default), in each case on Indebtedness that was incurred by such Restricted Subsidiary in compliance with Section 7.02 and (ii) does not materially impair the Borrower’s ability to make scheduled payments of cash interest and fees and to make required principal payments on the Loans, as determined in good faith by the Board of Directors of the Borrower.
Permitted Payment Restriction means any consensual encumbrance or restriction (each, as used in this sentence, a “restriction”) on the ability of any Restricted Subsidiary to (1) pay dividends or make any other distributions on its Equity Interests to its equity owners or make any payments with respect to any Indebtedness owed by it to the Borrower or a Restricted Subsidiary or (2) make any loans or advances to the Borrower or a Restricted Subsidiary, which restriction satisfies all the following conditions: (a) such restriction becomes effective only upon the occurrence of (x) specified events under its charter or (y) a default by such Restricted Subsidiary in the payment of principal or interest, a bankruptcy default, a default on any financial covenant or any other material default, in each case with respect to Indebtedness that was incurred by such Restricted Subsidiary under Section 7.03 and (b) such restriction would not materially impair the Borrower’s ability to make any scheduled or required payments with respect to the Facilities, as determined (A) at the time of any proposed Investment by the Borrower or any other Restricted Subsidiary in such Restricted Subsidiary, (B) at the time of any proposed purchase, redemption or other acquisition by the Borrower or any other Restricted Subsidiary from Strategic Investors of Equity Interests in such Restricted Subsidiary and (C) at the time of any proposed incurrence of Indebtedness by such Restricted Subsidiary, in good faith by the chief executive officer or chief financial officer of the Borrower (or, by the Board of Directors of the Borrower if the amount of any such transaction would be greater than $15,000,000) whose determination shall be conclusive.
More Definitions of Permitted Payment Restriction
Permitted Payment Restriction means any consensual encumbrance or restriction (each, a “restriction”) on the ability of any Subsidiary to pay dividends or make any other distributions on its equity interest to the Borrower or a Subsidiary, which restriction satisfies all of the following conditions: (i) such restriction becomes effective only upon the occurrence of (x) specified events under its Constituent Documents or any joint venture or similar agreements or (y) an “event of default” with respect to Indebtedness (as defined in the agreement governing such Indebtedness) that was incurred by such Subsidiary in compliance with Section 8.1 and (ii) such restriction would not materially impair the Borrower’s ability to make scheduled payments of cash interest and to make required principal payments on the Loans, as determined in good faith by the Board of Directors of the Borrower whose determination shall be conclusive, provided that the Borrower shall reasonably promptly notify the Administrative Agent and Lenders from time to time after any such determination is made.
Permitted Payment Restriction means any encumbrance or restriction (each, a “restriction”) on the ability of any Restricted Subsidiary to pay dividends or make any other distributions on its Capital Stock to the Issuer or a Restricted Subsidiary, which restriction would not materially impair the Issuer’s ability to make scheduled payments of cash interest and to make required principal payments on the Notes, as determined (1) at the time of any proposed purchase, redemption or other acquisition, or the sale or other disposition, in each case, by the Issuer or any Restricted Subsidiary from or to Strategic Investors of Capital Stock in such Restricted Subsidiary and (2) at the time of any proposed incurrence of Indebtedness by such Restricted Subsidiary, in each case, to the extent otherwise permitted under this Indenture, in good faith by a responsible officer of the Issuer (or, by the Board of Directors of the Issuer if the amount of any such transaction would be greater than $30.0 million), whose determination shall be conclusive.
Permitted Payment Restriction means any encumbrance or restriction (each, a “restriction”) on the ability of any Restricted Subsidiary to pay dividends or make any other distributions on its Capital Stock to the Issuer or a Restricted Subsidiary, which restriction would not materially impair the Issuer’s ability to make scheduled payments of cash interest and to make required principal payments on the Notes, as determined (1) at the time of any proposed purchase, redemption or other acquisition, or the sale or other disposition, in each case by the Issuer or any Restricted Subsidiary from or to Strategic Investors of Capital Stock in such Restricted Subsidiary and (2) at the time of any proposed incurrence of Indebtedness by such Restricted Subsidiary, in each case to the extent otherwise permitted under this Indenture, in good faith by a responsible officer of the Issuer (or, by the Board of Directors of the Issuer if the amount of any such transaction would be greater than $20.0 million), whose determination shall be conclusive.
Permitted Payment Restriction means any consensual encumbrance or restriction (each, a “restriction”) on the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions on its Equity Interest to the Borrower or a Restricted Subsidiary or pay any Indebtedness owed to the Borrower or a Restricted Subsidiary or (b) make any loans or advances to the Borrower or a Restricted Subsidiary, which restriction satisfies all of the following conditions: (i) (A) such restriction becomes effective only upon the occurrence of (x) specified events under its charter or (y) a default by such Restricted Subsidiary in the payment of principal of or interest, a bankruptcy default, a default on any financial covenant or any other material default, in each case on Indebtedness that was incurred by such Restricted Subsidiary in compliance with Section 6.01 or (B) such restriction is permitted under the UK Facility as in effect on the Effective Date and (ii) such restriction would not materially impair the Borrower’s ability to make scheduled payments of cash interest and to make required principal payments on the Loans, as determined in good faith by the Board of Directors whose determination shall be conclusive.
Permitted Payment Restriction means, with respect to any Subsidiary, any restriction that (i) becomes effective only upon the occurrence of (x) specified events under its charter or (y) a default by such Subsidiary in the payment of principal of or interest, a bankruptcy default, a default on any financial covenant or any other material event of default, in each case on Indebtedness that was incurred by such Subsidiary in compliance with Section 3.3 and (ii) does not materially impair the Issuer’s ability to make scheduled payments of cash interest and fees and to make required principal payments on the Notes, as determined in good faith by the Board of Directors.
Permitted Payment Restriction means any consensual encumbrance or restriction (each, a “restriction”) on the ability of any Restricted Subsidiary to (a) pay dividends or make any other distributions on its Equity Interest to the Borrower or a Restricted Subsidiary or pay any Indebtedness owed to the Borrower or a Restricted Subsidiary or (b) make any loans or advances to the Borrower or a Restricted Subsidiary, which restriction satisfies all of the following conditions: (i) such restriction becomes effective only upon the occurrence of (x) specified events under its charter or (y) a default by such Restricted Subsidiary in the payment of principal of or interest, a bankruptcy default, a default on any financial covenant or any other material default, in each case on Indebtedness that was incurred by such Restricted Subsidiary in compliance with Section 6.01 and (ii) such restriction would not materially impair the Borrower’s ability to make scheduled payments of cash interest and to make required principal payments on the Loans, as determined in good faith by the chief executive officer or Financial Officer of the Borrower (or, by the Board of Directors of the Borrower if the amount of any such transaction would be greater than $10,000,000) whose determination shall be conclusive.
Permitted Payment Restriction means any restriction that (i) becomes effective only upon the occurrence of (x) specified events under its charter or (y) a default by such Subsidiary in the payment of principal of or interest, a bankruptcy default, a default on any financial covenant or any other material event of default, in each case on Indebtedness that was incurred by such Subsidiary in compliance with Section 7.02 and (ii) does not materially impair the Borrower’s ability to make scheduled payments of cash interest and fees and to make required principal payments on the Loans, as determined in good faith by the board of directors of the Borrower.