Common use of ENCUMBRANCES AND RESTRICTIONS Clause in Contracts

ENCUMBRANCES AND RESTRICTIONS. Except as provided (i) in the Transaction Documents, (ii) the security documents and agreements related to the Credit Agreement, (iii) by Applicable Law and (iv) in the organizational or other governing documents of any Foreign Subsidiary, as of the Closing Date, there will be no encumbrances or restrictions on the ability of any Subsidiary of the Company (x) to pay dividends or make other distributions on such Subsidiary’s capital stock or to pay any indebtedness to the Company or any other Subsidiary of the Company, (y) to make loans or advances or pay any indebtedness to, or investments in, the Company or any other Subsidiary of the Company or (z) to transfer any of its property or assets to the Company or any other Subsidiary of the Company (other than pursuant to the Existing Credit Facility or Permitted Liens or provisions that restrict any such transfer).