Common use of Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries Clause in Contracts

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any lease, license, conveyance, sale or similar transaction; or (E) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 7 contracts

Sources: Financing Agreement (Funko, Inc.), Financing Agreement (Funko, Inc.), Financing Agreement (Funko, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 7 contracts

Sources: Financing Agreement (OptimizeRx Corp), Senior Secured Superpriority Priming Debtor in Possession Financing Agreement (AgileThought, Inc.), Financing Agreement (Troika Media Group, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and Agreement, the other Loan Documents, and any other agreement or document evidencing Subordinated Indebtedness; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyance, sale conveyance or contract of similar transaction; orproperty or assets; (E) in the case of clause (iv), ) any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (F) in the case of clause (iv), restrictions contained in an agreement related to the sale of such property that limits the transfer of such property pending the consummation of such sale; or (G) in the case of clause (iv), restrictions with respect to a Subsidiary of Parent imposed pursuant to an agreement that has been entered into in connection with the disposition of all or substantially all of (x) the Equity Interests of such Subsidiary or (y) the assets of such Subsidiary.

Appears in 6 contracts

Sources: Financing Agreement (Xponential Fitness, Inc.), Financing Agreement (Xponential Fitness, Inc.), Financing Agreement (Xponential Fitness, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends or distributions in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 5 contracts

Sources: Financing Agreement (Alj Regional Holdings Inc), Financing Agreement (Alj Regional Holdings Inc), Financing Agreement (Alj Regional Holdings Inc)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and Agreement, the other Loan DocumentsDocuments and the Existing Second Lien Credit Facility; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 4 contracts

Sources: Financing Agreement (AgileThought, Inc.), Financing Agreement (AgileThought, Inc.), Financing Agreement (AgileThought, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could not reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any lease, license, conveyance, sale or similar transaction; or (E) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 3 contracts

Sources: Credit Agreement (Funko, Inc.), Credit Agreement (Funko, Inc.), Credit Agreement (Funko, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan DocumentsDocuments and the definitive documentation for any Refinancing Facility; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in such extended, replaced or continued agreement is no less favorable in any material respect on the interests of any Loan Party, to the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) customary restrictions in contracts that prohibit the assignment of such contract; or (H) customary restrictions set forth in the Governing Documents of any Subsidiary that is not a wholly-owned Subsidiary.

Appears in 2 contracts

Sources: Credit Agreement (Gannett Co., Inc.), Credit Agreement (New Fortress Energy LLC)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent hereto, or any extension, replacement or continuation of any such agreement; provided that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyanceasset, sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 2 contracts

Sources: Financing Agreement (FiscalNote Holdings, Inc.), Financing Agreement (Waldencast Acquisition Corp.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), ) any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyance, sale conveyance or contract of similar transactionproperty or assets; oror *** Confidential material redacted and filed separately with the Securities and Exchange Commission. (E) in the case of clause (iv), ) any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 2 contracts

Sources: Financing Agreement (Motorcar Parts America Inc), Financing Agreement (Motorcar Parts America Inc)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (ia) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (iib) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iiic) to make loans or advances to any Loan Party or any of its Subsidiaries or (ivd) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (ia) through (ivd) of this Section 7.02(k) 6.18 shall prohibit or restrict compliance with: (Aa) this Agreement and the other Loan Documents; (Bb) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan PartyDIP ABL Credit Agreement, the Agents other DIP ABL Loan Documents, the Prepetition Term Loan Agreement, the other Prepetition Term Loan Documents, the Prepetition ABL Credit Agreement or the Lendersother Prepetition ABL Loan Documents; (Cc) the Senior Note Indenture; (d) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (De) in the case of clause (ivd), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transactioncontract for the conveyance of such property or asset; or (Ef) in the case of clause (ivd), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 2 contracts

Sources: Senior Secured Superpriority Debtor in Possession Term Loan Agreement (Colt Finance Corp.), Term Loan Agreement (Colt Finance Corp.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan DocumentsDocuments and any Permitted Refinancing Indebtedness in respect thereof; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement (taken as a whole) is not materially less favorable, as determined by the Borrowers in good faith and in consultation with the Administrative Agent, to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation Requirements of Law (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D1) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) assignments of such contracts; (H) customary restrictions in contracts that prohibit the customary provisions restricting subletting or assignment of any lease governing a leasehold interest; (I) contractual obligations that are binding on a Subsidiary of a Borrower at the time such Subsidiary first becomes a Subsidiary, so long as such contractual obligations were not entered into in contemplation of such person becoming a Subsidiary and such restriction does not apply to a Borrower or any other Subsidiary and/or any property of the Borrower or any other Subsidiary; (J) customary net worth provisions contained in real property leases entered into in the ordinary course of business, so long as the Borrowers have determined in good faith that such net worth provisions could not reasonably be expected to impair the ability of the Borrowers and Subsidiaries to meet their ongoing obligations; (K) in respect of customary restrictions and conditions contained in any agreement relating to any Disposition permitted hereunder (in which case such restrictions or conditions shall relate only to the applicable property subject to such disposition) or otherwise relating to a Disposition that is conditioned upon the amendment, restatement or replacement of this Agreement or the repayment in full of amounts owing hereunder; (L) restrictions in agreements provided that such restrictions apply solely to Subsidiaries that are not Guarantors, (y) are no more restrictive than the limitations (taken as a whole), as determined by the Borrowers in good faith with the consultation of the Administrative Agent, set forth in the Loan Documents and (z) such encumbrances or restrictions do not impair any Loan Party’s ability to (i) grant the security interests to the Collateral Agent contemplated by the Loan Documents, (ii) pay the Obligations under the Loan Documents as and when due or (iii) otherwise comply with the terms of the Loan Documents; or (M) customary provisions in joint venture agreements and other similar agreements applicable to joint ventures, in each case, to the extent permitted under this Agreement and applicable solely to such joint venture and the Equity Interests issued thereby (provided that such provisions do not preclude the grant of a Lien, in favor of the Collateral Agent, with respect to such Equity Interests owned by Loan Parties).

Appears in 2 contracts

Sources: Financing Agreement (Regis Corp), Financing Agreement (Regis Corp)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (ia) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (iib) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iiic) to make loans or advances to any Loan Party or any of its Subsidiaries or (ivd) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (ia) through (ivd) of this Section 7.02(k) 6.18 shall prohibit or restrict compliance with: (Ai) this Agreement and the other Loan Documents; (Bii) any agreements in effect on the date of this Prepetition Term Loan Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any other Prepetition Term Loan Party, the Agents or the LendersDocuments; (Ciii) the DIP Term Loan Agreement and the other DIP Term Loan Documents; (iv) the Prepetition Senior Loan Agreement and the other Prepetition Senior Loan Documents; (v) the Senior Note Indenture; (vi) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (Dvii) in the case of clause (ivd), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transactioncontract for the conveyance of such property or asset; or (Eviii) in the case of clause (ivd), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 2 contracts

Sources: Senior Secured Debtor in Possession Credit Agreement (Colt Finance Corp.), Credit Agreement (Colt Finance Corp.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party or any Subsidiary (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its SubsidiariesSubsidiary, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, provided that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) the ABL Facility Documents and any agreements other agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, including applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv) of this Section 7.02(k), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 2 contracts

Sources: Financing Agreement (BRC Inc.), Financing Agreement (BRC Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement, the other Loan Documents, the Term Loan Agreement and the other Loan Term Facility Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends or distributions in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customaryrestrictionsincontractsthatprohibitthe assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (Alj Regional Holdings Inc)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective US-DOCS\103792213.14 any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement the Loan Documents and the other Working Capital Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) customary restrictions in contracts that prohibit the assignment of such contract; (H) any agreement in effect at the time a Person becomes a Loan Party or a Subsidiary of a Loan Party, so long as such agreement was not entered into in connection with or in contemplation of such Person becoming a Loan Party or a Subsidiary of a Loan Party; or (I) in the case of clause (iv), with respect to any joint venture which is not a Loan Party, restrictions in such Person's organizational documents or pursuant US-DOCS\103792213.14 to any joint venture or stockholders agreement solely to the extent of the Equity Interests of, or property held in, such joint venture.

Appears in 1 contract

Sources: Financing Agreement (Hc2 Holdings, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests Capital Stock of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and Agreement, the other Loan Documents and the Senior Note Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), ) any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyance, sale conveyance or contract of similar transaction; orproperty or assets; (E) in the case of clause (iv), ) any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto, or (F) any agreement, instrument or other document evidencing Permitted Indebtedness, so long as such agreement, instrument or other document does not contain encumbrances and restrictions that are more restrictive taken as a whole to the Parent and its Subsidiaries than any such similar encumbrances and restrictions contained in this Agreement or the Senior Note Documents.

Appears in 1 contract

Sources: Credit Agreement (Lantheus MI Intermediate, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Subordinated Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) the Revolving Credit Agreement and the other Revolving Loan Documents; (C) any agreements agreement in effect on the date of this Agreement Effective Date and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (CD) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (DE) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or (E) in contract for the case conveyance of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any such property or assets subject thereto.asset and

Appears in 1 contract

Sources: Financing Agreement (Unique Logistics International, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents and the Subordinated Debt Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Loan Agreement (Otelco Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent Disclosure Letter, or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) customary restrictions in contracts that prohibit the assignment of such contract; (H) customary restrictions in joint venture and similar agreements; (I) restrictions binding on a Subsidiary of the Borrower at the time such Subsidiary first becomes a Subsidiary of the Borrower, so long as such Contractual Obligations were not entered into in contemplation of such Person becoming a Subsidiary of the Borrower; (J) restrictions on cash or other deposits imposed by contracts entered into in the ordinary course of business or with respect to Permitted Investments; (K) customary net worth provisions or similar financial maintenance provisions contained in in contracts entered into in the ordinary course of business; or (L) restrictions contained in agreements entered into in respect of any Permitted Indebtedness incurred by any Subsidiary.

Appears in 1 contract

Sources: Financing Agreement (Spire Global, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent hereto, or any extension, replacement or continuation of any such agreement; provided that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or 128498985v11 continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyanceasset, sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (Spark Networks SE)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (ia) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (iib) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iiic) to make loans or advances to any Loan Party or any of its Subsidiaries or (ivd) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (ia) through (ivd) of this Section 7.02(k) 6.18 shall prohibit or restrict compliance with: (Ai) this Agreement and the other Loan Documents; (Bii) any agreements in effect on the date of this Term Loan Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any other Term Loan Party, the Agents or the LendersDocuments; (Ciii) the Senior Note Indenture; (iv) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (Dv) in the case of clause (ivd), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transactioncontract for the conveyance of such property or asset; or (Evi) in the case of clause (ivd), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 1 contract

Sources: Credit Agreement (Colt Defense LLC)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, including applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (Beachbody Company, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Subordinated Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) the Revolving Credit Agreement and the other Revolving Loan Documents; (C) any agreements agreement in effect on the date of this Agreement Effective Date and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (CD) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (DE) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (F) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (G) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (H) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (Unique Logistics International, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable lawLaw, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyanceconveyance or contract of similar property or assets, sale provided that such restriction shall apply solely to the property or similar transactionasset subject to such lease, license, conveyance or contract; or (E) in the case of clause (iv), any customary restriction in any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto, provided that such restriction relates only to the property that is subject to such Permitted Lien.

Appears in 1 contract

Sources: Financing Agreement (Dico, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries Subsidiaries, or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k7.02(j) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent 7.02(j), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (Wheeler Real Estate Investment Trust, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) [Omitted pursuant to the extent Item 601(a)(5) of Regulation S-K], or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (Ascend Wellness Holdings, LLC)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (Ai) this Agreement and Agreement, the other Loan DocumentsDocuments and the Existing Second Lien Credit Facility; (Bii) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (Ciii) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (Div) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (v) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (vi) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (vii) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (AgileThought, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents or the Revolving Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract. 120535197v14

Appears in 1 contract

Sources: Financing Agreement (SMTC Corp)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent hereto, or any extension, replacement or continuation of any such agreement; provided that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan PartyAdministrative Agent and the Lenders than the encumbrance or restriction under or pursuant to the agreement so extended, the Agents replaced or the Lenderscontinued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyanceasset, sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) customary restrictions in contracts that prohibit the assignment, subletting or other transfers (including the granting of any Lien) of such contract; or (H) restrictions on pledged cash or other deposits imposed by any Person for whose benefit such pledge of cash or other deposits is made.

Appears in 1 contract

Sources: Financing Agreement (Tcfiii Spaceco Holdings LLC)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent this Agreement, or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) customary restrictions in contracts that prohibit the assignment of such contract; (H) customary restrictions in joint venture and similar agreements; (I) restrictions binding on a Subsidiary of the Borrower at the time such Subsidiary first becomes a Subsidiary of the Borrower, so long as such Contractual Obligations were not entered into in contemplation of such Person becoming a Subsidiary of the Borrower; (J) restrictions on cash or other deposits imposed by contracts entered into in the ordinary course of business or with respect to Permitted Investments; (K) customary net worth provisions or similar financial maintenance provisions contained in contracts entered into in the ordinary course of business; or (L) restrictions contained in agreements entered into in respect of any Permitted Indebtedness incurred by any Subsidiary.

Appears in 1 contract

Sources: Financing Agreement (Colonnade Acquisition Corp. II)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries Subsidiaries, or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k7.02(j) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent 7.02(j), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyanceasset sale agreement or similar contract for the conveyance of such property or asset and; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets provided, that such restrictions apply only to the assets to be sold or disposed of and such sale or similar transactiondisposition is permitted hereunder; (G) restrictions or conditions imposed by any agreement relating to Indebtedness permitted by Section 7.02(b) of this Agreement that is secured by a Permitted Lien; or (EH) customary restrictions in contracts that prohibit the case assignment of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject theretosuch contract.

Appears in 1 contract

Sources: Financing Agreement (Wheeler Real Estate Investment Trust, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents or the Revolving Loan Documents; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (G) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Financing Agreement (SMTC Corp)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests Capital Stock of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and Agreement, the other Loan Documents and the Senior Note Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), ) any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyance, sale conveyance or contract of similar transaction; orproperty or assets; (E) in the case of clause (iv), ) any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto, or (F) any agreement, instrument or other document evidencing Permitted Indebtedness, so long as such agreement, instrument or other document does not contain encumbrances and restrictions that are more restrictive taken as a whole to the Parent and its Subsidiaries than any such similar encumbrances and restrictions contained in this Agreement or the Senior Note Documents.

Appears in 1 contract

Sources: Credit Agreement (Lantheus Medical Imaging, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan DocumentsDocuments and the definitive documentation for any Refinancing Facility; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in such extended, replaced or continued agreement is no less favorable in any material respect on the interests of any Loan Party, to the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) customary restrictions in contracts that prohibit the assignment of such contract; or (H) customary restrictions set forth in the Governing Documents of any Subsidiary that is not a wholly-owned Subsidiary; or

Appears in 1 contract

Sources: Credit Agreement (Gannett Co., Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan DocumentsDocuments and any Permitted Refinancing Indebtedness in respect thereof; (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement (taken as a whole) is not materially less favorable to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D1) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (E) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (F) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; (G) assignment of such contract; (H) customary restrictions in contracts that prohibit the customary provisions restricting subletting or assignment of any lease governing a leasehold interest; (I) contractual obligations that are binding on a Subsidiary of a Borrower at the time such Subsidiary first becomes a Subsidiary, so long as such contractual obligations were not entered into in contemplation of such person becoming a Subsidiary and such restriction does not apply to a Borrower or any other Subsidiary and/or any property of the Borrower or any other Subsidiary; (J) customary net worth provisions contained in real property leases entered into in the ordinary course of business, so long as the Borrowers have determined in good faith that such net worth provisions could not reasonably be expected to impair the ability of the Borrowers and Subsidiaries to meet their ongoing obligations; (K) in respect of customary restrictions and conditions contained in any agreement relating to any disposition permitted hereunder (in which case such restrictions or conditions shall relate only to the applicable property subject to such disposition) or otherwise relating to a Disposition that is conditioned upon the amendment, restatement or replacement of this Agreement or the repayment in full of amounts owing hereunder; (L) restrictions in agreements provided that such restrictions apply solely to Subsidiaries that are not Guarantors, (y) are no more restrictive than the limitations (taken as a whole) set forth in the Loan Documents and (z) such encumbrances or restrictions do not impair any Loan Party’s ability to (i) grant the security interests to the Collateral Agent contemplated by the Loan Documents, (ii) pay the Obligations under the Loan Documents as and when due or (iii) otherwise comply with the terms of the Loan Documents; or (M) customary provisions in joint venture agreements and other similar agreements applicable to joint ventures, in each case, to the extent permitted under this Agreement and applicable solely to such joint venture and the Equity Interests issued thereby (provided that such provisions do not preclude the grant of a Lien, in favor of the Collateral Agent, with respect to such Equity Interests owned by Loan Parties).

Appears in 1 contract

Sources: Financing Agreement (TCW Group Inc)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with:: #97100791v3 (A) this Agreement and Agreement, the other Loan Documents, and any other agreement or document evidencing Subordinated Indebtedness; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyance, sale conveyance or contract of similar transaction; orproperty or assets; (E) in the case of clause (iv), ) any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (F) in the case of clause (iv), restrictions contained in an agreement related to the sale of such property that limits the transfer of such property pending the consummation of such sale; or (G) in the case of clause (iv), restrictions with respect to a Subsidiary of Parent imposed pursuant to an agreement that has been entered into in connection with the disposition of all or substantially all of (x) the Equity Interests of such Subsidiary or (y) the assets of such Subsidiary.

Appears in 1 contract

Sources: Financing Agreement (Xponential Fitness, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents;; [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION. (B) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent ), or any extension, replacement or continuation of any such agreement; provided that any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable, taken as a whole, to have an adverse impact in any material respect on the interests of any Loan Party, the Agents and the Lenders than the encumbrance or restriction under or pursuant to the Lendersagreement so extended, replaced or continued; (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) any agreement evidencing Permitted Indebtedness; (E) restrictions in the case Governing Documents for Tax Equity Partnerships relating to the payment of clause Tax Equity Payments or other preferred distributions; (iv), any agreement setting forth customary F) restrictions on in the subletting, assignment or transfer Project Documents subject to compliance with the other terms and conditions of any property or asset that is the subject of any lease, license, conveyance, sale or similar transactionLoan Documents; (G) the Aggregation Facility; or (EH) customary restrictions in contracts that prohibit the case assignment of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject theretosuch contract.

Appears in 1 contract

Sources: Financing Agreement (Vivint Solar, Inc.)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create The Loan Parties will not, and will not permit any of their Subsidiaries to create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) 6.15 shall prohibit or restrict compliance with: (Aa) this Agreement and the other Loan Documents; (Bb) any agreements agreement in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent 6.15 or any extension, replacement or continuation of any such agreement; provided, that, any such encumbrance or restriction contained therein could reasonably be expected in such extended, replaced or continued agreement is no less favorable to have an adverse impact in Agent and the Lenders than the encumbrance or restriction under or pursuant to the agreement so extended, replaced or continued or under any material respect on the interests documents relating to joint ventures of any Loan Party, Party or any Subsidiary to the Agents or the Lendersextent that such joint ventures are not prohibited hereunder; (Cc) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (Dd) in the case of clause (iv)) above, any agreement setting forth (1) customary restrictions on the subletting, assignment or transfer of any specified property or asset that is the subject of any set forth in a lease, license, conveyance, asset sale agreement or similar transaction; or contract for the conveyance of such property or asset and (E2) in the case of clause (iv), any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto; (e) customary restrictions on dispositions of real property interests in reciprocal easement agreements; (f) customary restrictions in agreements for the sale of assets on the transfer or encumbrance of such assets during an interim period prior to the closing of the sale of such assets; or (g) customary restrictions in contracts that prohibit the assignment of such contract.

Appears in 1 contract

Sources: Credit Agreement (Farmer Brothers Co)

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries. Create or otherwise cause, incur, assume, suffer or permit to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of any Loan Party (i) to pay dividends or to make any other distribution on any shares of Equity Interests of such Subsidiary owned by any Loan Party or any of its Subsidiaries, (ii) to pay or prepay or to subordinate any Indebtedness owed to any Loan Party or any of its Subsidiaries, (iii) to make loans or advances to any Loan Party or any of its Subsidiaries or (iv) to transfer any of its property or assets to any Loan Party or any of its Subsidiaries, or permit any of its Subsidiaries to do any of the foregoing; provided, however, that nothing in any of clauses (i) through (iv) of this Section 7.02(k) shall prohibit or restrict compliance with: (A) this Agreement and the other Loan Documents; (B) any agreements in effect on the date of this Agreement and described on Schedule 7.02(k) to the extent any encumbrance or restriction contained therein could reasonably be expected to have an adverse impact in any material respect on the interests of any Loan Party, the Agents or the Lenders); (C) any applicable law, rule or regulation (including, without limitation, applicable currency control laws and applicable state corporate statutes restricting the payment of dividends in certain circumstances); (D) in the case of clause (iv), ) any agreement setting forth customary restrictions on the subletting, assignment or transfer of any property or asset that is the subject of any a lease, license, conveyance, sale conveyance or contract of similar transactionproperty or assets; or (E) in the case of clause (iv), ) any agreement, instrument or other document evidencing a Permitted Lien (or the Indebtedness secured thereby) from restricting on customary terms the transfer of any property or assets subject thereto.

Appears in 1 contract

Sources: Financing Agreement (Lifevantage Corp)