Common use of Restrictions on Payments Clause in Contracts

Restrictions on Payments. No Covenant Group Obligor shall, and each Covenant Group Obligor shall procure that no member of the UK Group shall, enter into any restrictions on the ability of any member of the UK Group to pay dividends, to make loans to, repay or prepay loans made by, or transfer assets to, the Borrower or any other member of the UK Group, except for (a) the restrictions set forth in the Senior Bank Credit Agreement as in effect on the Execution Date; (b) restrictions entered into in connection with the incurrence of Financial Indebtedness incurred pursuant to clause (i) or clause (m) of the definition of Permitted Indebtedness provided that such restrictions are no more restrictive than those set forth in the Senior Bank Credit Agreement as in effect on the Execution Date; (c) restrictions imposed by applicable law; and (d) customary non assignment provisions in leases entered into in the ordinary course of business and consistent with past practice.