Common use of Limitation on Restrictions Affecting Subsidiaries Clause in Contracts

Limitation on Restrictions Affecting Subsidiaries. PXI will not, and will not permit any Subsidiary to, directly, or indirectly, create or otherwise cause or suffer to exist any encumbrance or restriction which prohibits or limits the ability of PXI or any Subsidiary to (a) pay dividends or make other distributions or pay any Indebtedness owed to any Credit Party or any Subsidiary thereof, (b) make loans or advances to any Credit Party or any Subsidiary thereof, (c) transfer any of its properties or assets to any Credit Party or any Subsidiary thereof or (d) create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than encumbrances and restrictions arising under (i) applicable law, (ii) this Agreement and the other Credit Documents, (iii) Indebtedness permitted pursuant to Sections 8.03(b), (d) and (e), (iv) customary provisions restricting subletting or assignment of any lease governing a leasehold interest of any Credit Party or any of its Subsidiaries and (v) customary restrictions on dispositions of real property interests found in reciprocal easement agreements of any Credit Party or any of its Subsidiaries.

Limitation on Restrictions Affecting Subsidiaries. PXI The Borrower will not, and will not permit any Subsidiary to, directly, or indirectly, create or otherwise cause or suffer to exist any encumbrance or restriction which prohibits or limits the ability of PXI or any Subsidiary of the Borrower to (a) pay dividends or make other distributions or pay any Indebtedness owed to any Credit Party the Borrower or any Subsidiary thereofof the Borrower, (b) make loans or advances to any Credit Party the Borrower or any Subsidiary thereofof the Borrower, (c) transfer any of its properties or assets to any Credit Party the Borrower or any Subsidiary thereof of the Borrower or (d) create, incur, assume or suffer to exist any Lien lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than encumbrances and restrictions arising under (i) applicable law, (ii) this Agreement and the other Credit Documents, (iii) Indebtedness permitted pursuant to Sections 8.03(b8.3(b), (dc) and (ed), (iv) customary provisions restricting subletting or assignment of any lease governing a leasehold interest of any Credit Party the Borrower or any of its Subsidiaries and (v) customary restrictions on dispositions of real property interests found in reciprocal easement agreements of any Credit Party the Borrower or any of its Subsidiaries.