Common use of Payments Prohibited Clause in Contracts

Payments Prohibited. Notwithstanding anything contained herein or in the Subordinate Loan Documents to the contrary, but subject in all respect to Section 10 hereof, until such time as the Credit Agreement Obligations have been finally and indefeasibly paid in full in cash and all obligations of the Senior Lenders under the Credit Agreement Loan Documents have terminated, no Venus Credit Party shall make, and Subordinate Lender shall not accept, receive or retain, any payment on the Subordinate Obligations (whether in cash, property or securities); provided, that, unless such payments are prohibited pursuant to Sections 4, 5 or 6 hereof, Venus shall be permitted to make, and Subordinate Lender shall be permitted to receive and retain, regularly scheduled payments of interest when due on the Subordinate Note at the rates and in the amounts provided in the Subordinate Note; and provided further that nothing contained herein shall be deemed to limit the right of Subordinate Lender to (a) convert the Subordinate Note to the common equity of Venus at any time, or (b) to receive and retain interest payments which are solely in the form of PIK payments.