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 and the Intra Group Lenders may accept or agree to accept any such payment at any time. (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, an Acceleration Event has occurred unless prior to the Senior Discharge Date the Majority Senior Creditors consent to that Payment being made.

Permitted Payments: Intra-Group Liabilities. ‌ (a) Subject to paragraph (b) below, the Debtors and any other member of the Group may make Payments (including by way of set-off) in respect of the Intra-Group Liabilities (whether of principal, interest or otherwise) from time to time when due and the Intra Group Lenders may accept or agree to accept any such payment at any time.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, an Acceleration Event a Declared Default has occurred unless unless:‌ (i) prior to the Senior Discharge Date the Majority Senior Creditors consent to that Payment being made; or (ii) that Payment is made to facilitate Payment of the Senior Liabilities.