Common use of Acquisition of Intra-Group Liabilities Clause in Contracts

Acquisition of Intra-Group Liabilities. (a) Subject to paragraph ‎(b) below, a Debtor may, and may permit any other member of the Group to: (i) enter into any Liabilities Acquisition; or (ii) beneficially own all or any part of the share capital of a company that is party to a Liabilities Acquisition, in respect of any Intra-Group Liabilities at any time. (b) Subject to paragraph ‎(c) below, no action described in paragraph ‎(a) above may take place in respect of any Intra-Group Liabilities if: (i) that action would result in a breach of the Senior Secured Notes Indenture; or (ii) at the time of that action, an Acceleration Event has occurred and is continuing. (c) The restrictions in paragraph ‎(b) above shall not apply if: (i) prior to the Final Discharge Date, the Instructing Group Consents to that action; or (ii) that action is taken to facilitate Payment of the Secured Liabilities.