Examples of Spin-Off Documents in a sentence
Neither Holdings nor the Borrower will, nor will they permit any of their respective Restricted Subsidiaries to, amend, modify or waive, (a) its certificate of incorporation, bylaws or other organizational documents, (b) any of the Spin-Off Documents or (c) any agreement or instrument governing or evidencing any Material Indebtedness that is subordinated in right of payment to the Obligations, in each case if the effect of such amendment, modification or waiver would be materially adverse to the Lenders.
Except as set forth in Schedule 3.15 hereto, none of the conditions for the effectiveness of the Spin-Off contemplated by the Spin-Off Documents have been waived by any party and all such conditions have been satisfied.
The execution, delivery and performance by the Borrower of the Spin-Off Documents, and the consummation of the transactions contemplated thereby, require no action, permit, license, authorization, certification, consent, approval, concession or franchise by or in respect of, or filing with, any Governmental Authority or any other Person, other than those that have been obtained by the Borrower or waived prior to the date hereof and described on Schedule 3.15 hereto.
The Spin-Off has been duly authorized by all requisite corporate and shareholder action and has been validly consummated in accordance with the Spin-Off Documents and all applicable laws and is final and effective.
The Spin-Off Documents constitute the legally valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with their terms, except as may be limited by reorganization, bankruptcy, insolvency, moratorium or other laws affecting generally the enforcement of creditors rights.