Restrictive Agreements, etc. The Borrowers will not, and will not permit any of their respective Significant Subsidiaries or Quasi-Restricted Subsidiaries to, enter into any agreement (excluding (i) this Agreement and any other Loan Document, (ii) in the case of clause (a)(i) below, any agreement governing any Indebtedness permitted by clause (d) or (f) of Section 7.2.2 as to the assets financed with the proceeds of such Indebtedness and (iii) in the case of clause (a) below, as required under applicable laws binding on KINA and its Restricted Subsidiaries) prohibiting: (a) the (i) creation or assumption of any Lien upon its properties, revenues or assets, whether now owned or hereafter acquired, or (ii) ability of KIL or any other Obligor to amend or otherwise modify this Agreement or any other Loan Document; or (b) the ability of the Borrowers or any of their respective Significant Subsidiaries or Quasi-Restricted Subsidiaries to make any payments, directly or indirectly, to any Borrower by way of dividends, advances, repayments of loans or advances, reimbursements of management and other intercompany charges, expenses and accruals or other returns on Investments, or the ability of any Borrower or any such Significant Subsidiary or Quasi-Restricted Subsidiary to make any payment, directly or indirectly, to any Borrower.
Appears in 1 contract
Sources: Credit Agreement (Kerzner International Employment Services LTD)
Restrictive Agreements, etc. The Borrowers will not, and will not permit any of their respective Significant Subsidiaries or Quasi-Restricted Subsidiaries to, enter into any agreement (excluding (i) this Agreement and any other Loan Document, (ii) in the case of clause (a)(i) below, any agreement governing any Indebtedness permitted by clause (d) or (f) of Section 7.2.2 as to the assets financed with the proceeds of such Indebtedness and (iii) in the case of clause (a) below, as required under applicable laws binding on KINA and its Restricted Subsidiaries) prohibiting:
(a) the (i) creation or assumption of any Lien upon its properties, revenues or assets, whether now owned or hereafter acquired, or (ii) ability of KIL or any other Obligor to amend or otherwise modify this Agreement or any other Loan Document; or
(b) the ability of the Borrowers or any of their respective Significant Subsidiaries or Quasi-Restricted Subsidiaries to make any payments, directly or indirectly, to any Borrower by way of dividends, advances, repayments of loans or advances, reimbursements of management and other intercompany charges, expenses and accruals or other returns on Investments, or the ability of any Borrower or any such Significant Subsidiary or Quasi-Restricted Subsidiary to make any payment, directly or indirectly, to any Borrower.
Appears in 1 contract
Restrictive Agreements, etc. The Borrowers SIHL will not, and will not permit any of their respective its Significant Subsidiaries or Quasi-Restricted Subsidiaries to, enter into any agreement (excluding (i) this Agreement and any other Loan Document, (ii) in the case of clause CLAUSE (a)(i) below, (x) any agreement governing any Indebtedness permitted by clause CLAUSES (d) or (f) of Section SECTION 7.2.2 as to the assets financed with the proceeds of such Indebtedness and (y) Indebtedness permitted by CLAUSE (i) of SECTION 7.2.2 and (iii) in the case of clause CLAUSE (a) below, as required under applicable laws binding on KINA SINA and its Restricted Subsidiaries) prohibiting:
(a) the (i) creation or assumption of any Lien upon its properties, revenues or assets, whether now owned or hereafter acquired, or (ii) ability of KIL SIHL or any other Obligor to amend or otherwise modify this Agreement or any other Loan Document; or
(b) the ability of the Borrowers SIHL or any of their respective its Significant Subsidiaries or Quasi-Restricted Subsidiaries to make any payments, directly or indirectly, to any Borrower by way of dividends, advances, repayments of loans or advances, reimbursements of management and other intercompany charges, expenses and accruals or other returns on Investments, or the ability of any Borrower or any such Significant Subsidiary or Quasi-Restricted Subsidiary to make any payment, directly or indirectly, to any Borrower.
Appears in 1 contract
Sources: Revolving Credit Agreement (Sun International Hotels LTD)
Restrictive Agreements, etc. The Borrowers will not, and will not permit None of the Borrower or any of their respective Significant the Subsidiaries or Quasi-Restricted Subsidiaries to, will enter into any agreement (excluding (i) this Agreement and any other Loan Document, (ii) in the case of clause (a)(i) below, any agreement governing any Indebtedness permitted by clause (d) or (f) of Section 7.2.2 as to the assets financed with the proceeds of such Indebtedness and (iii) in the case of clause (a) below, as required under applicable laws binding on KINA and its Restricted Subsidiaries) prohibiting:
prohibiting (a) the (i) creation or assumption of any Lien in favor of the Secured Parties to secure the Obligations upon its properties, revenues or assets, whether now owned or hereafter acquired, or (ii) ability of KIL or any other Obligor to amend or otherwise modify this Agreement or any other Loan Document; or
(b) the ability of the Borrowers Borrower or any of their respective Significant Subsidiaries the Guarantors to amend or Quasi-Restricted Subsidiaries otherwise modify any Loan Document, (c) the ability of the Borrower or any Subsidiary to make any paymentspayments of the Obligations, or (d) the ability of any Subsidiary to make payments directly or indirectly, to any Borrower the Borrower, including by way of dividends, advances, repayments of loans or advancesloans, reimbursements of management and other intercompany charges, expenses and accruals or other returns on Investmentsinvestments. The foregoing prohibitions shall not apply to restrictions contained in (i) any Loan Document, or (ii) in the ability case of clause (a), any Borrower or agreement governing any Indebtedness permitted by Section 8.2(e) as to the assets financed with the proceeds of such Significant Subsidiary or Quasi-Restricted Subsidiary to make Indebtedness, (iii) the Loan Documents, (iv) the definitive documentation governing any paymentPermitted Revolving Credit Facility Indebtedness, directly or indirectly, to any Borrowerand (v) applicable Law.
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Restrictive Agreements, etc. The Borrowers will not, and ---------------------------- will not permit any of their respective Significant Subsidiaries or Quasi-Restricted Subsidiaries to, enter into any agreement (excluding (i) this Agreement and any other Loan Document, (ii) in the case of clause (a)(i) below, any agreement governing any ------------- Indebtedness permitted by clause clauses (d) or (f) of Section 7.2.2 as to the ----------- ---- ------------- assets financed with the proceeds of such Indebtedness and (iii) in the case of clause (a) below, as required under applicable laws binding on KINA SINA and ---------- its Restricted Subsidiaries) prohibiting:
(a) the (i) creation or assumption of any Lien upon its properties, revenues or assets, whether now owned or hereafter acquired, or (ii) ability of KIL SIHL or any other Obligor to amend or otherwise modify this Agreement or any other Loan Document; or
(b) the ability of the Borrowers or any of their respective Significant Subsidiaries or Quasi-Restricted Subsidiaries to make any payments, directly or indirectly, to any Borrower by way of dividends, advances, repayments of loans or advances, reimbursements of management and other intercompany charges, expenses and accruals or other returns on Investments, or the ability of any Borrower or any such Significant Subsidiary or Quasi-Restricted Subsidiary to make any payment, directly or indirectly, to any Borrower.
Appears in 1 contract
Sources: Revolving Credit Agreement (Sun International North America Inc)