Common use of Indebtedness of the Issuer to a Restricted Subsidiary Clause in Contracts

Indebtedness of the Issuer to a Restricted Subsidiary. provided that other than in the case of intercompany current liabilities Incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries to finance working capital needs of the Subsidiaries, any such Indebtedness owed to a Non-Guarantor Subsidiary is expressly subordinated (if legally permissible) in right of payment to the obligations of the Issuers under the Notes; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event that results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause (g);

Appears in 1 contract

Sources: Exchange Agreement (Anywhere Real Estate Group LLC)

Indebtedness of the Issuer to a Restricted Subsidiary. provided that other than (except in the case respect of intercompany current liabilities Incurred in the ordinary course of business in connection with the cash management management, tax and accounting operations of the Issuer and its Subsidiaries to finance working capital needs of the Subsidiaries, ) any such Indebtedness owed to a Non-Restricted Subsidiary that is not a Subsidiary Guarantor Subsidiary is expressly unsecured and subordinated (if legally permissible) in right of payment to the obligations of the Issuers Issuer under the Notes; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event that which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted SubsidiarySubsidiary or any pledge of such Indebtedness constituting a Permitted Lien but not the transfer thereof upon foreclosure) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause (gvii);

Appears in 1 contract

Sources: Indenture (Rackspace Technology, Inc.)

Indebtedness of the Issuer to a Restricted Subsidiary. provided that other than in the case of intercompany current liabilities Incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries to finance working capital needs of the Subsidiaries, any such Indebtedness owed to a Non-Restricted Subsidiary that is not a Subsidiary Guarantor Subsidiary is expressly subordinated (if legally permissible) in right of payment to the obligations of the Issuers Issuer under the Notes; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event that which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted SubsidiarySubsidiary or any pledge of such Indebtedness constituting a Permitted Lien but not the transfer thereof upon foreclosure) shall be deemed, in each case, to be an Incurrence of such Indebtedness (to the extent such Indebtedness is then outstanding) not permitted by this clause (gvi);

Appears in 1 contract

Sources: Indenture (Adtalem Global Education Inc.)