Clause 22. 16.1 above does not apply to: (a) a Permitted Loan (which is consistent with Clause 22.8 (Holding Companies)); or (b) a Permitted Transaction which is referred to in paragraph (a) of the definition of that term; or (c) a Permitted Distribution.
Appears in 2 contracts
Sources: Term Facility Agreement (Enstar Group LTD), Term Facility Agreement (Enstar Group LTD)