Common use of Permitted Payments: Intra-Group Liabilities Clause in Contracts

Permitted Payments: Intra-Group Liabilities. (a) Subject to paragraph (b) below, the Debtors may make Payments in respect of the Intra-Group Liabilities (whether of principal, interest or otherwise) from time to time when due. (b) Payments in respect of the Intra-Group Liabilities may not be made pursuant to paragraph (a) above if, at the time of the Payment: (i) in respect of Payments to the Parent, an Acceleration Event has occurred and is continuing or would occur under any of the Debt Documents unless: (A) the Instructing Group consents to that Payment being made; or (B) that Payment is made to facilitate Payment of the Pari Passu Liabilities; (ii) in respect of Payments to any other member of the Group, an Acceleration Event has occurred and is continuing or would occur under any of the Debt Documents unless: (A) the Instructing Group consents to that Payment being made; or (B) that Payment is made to facilitate Payment of the Pari Passu Liabilities.