Common use of Limitation on Payment Restrictions Affecting Consolidated Companies Clause in Contracts

Limitation on Payment Restrictions Affecting Consolidated Companies. Create or otherwise cause or suffer to exist or become effective, any consensual encumbrance or restriction on the ability of any Consolidated Company to (a) pay dividends or make any other distributions on such Consolidated Company’s stock, or (b) pay any indebtedness owed to Borrower or any other Consolidated Company, except in each case any consensual encumbrance or restriction existing under the Credit Documents, the 2004 Note Purchase Agreement, the 2006 Note Purchase Agreement, or Indebtedness described in Section 8.1(g) or Section 8.1(l) hereof (in each case, with respect to any such encumbrance or restriction relating to this Agreement and the other Credit Documents and the indebtedness and obligations evidenced hereunder and thereunder, as in effect as of the date hereof or as amended or supplemented in a manner acceptable to Lender).

Appears in 2 contracts

Samples: Term Loan Agreement, Term Loan Agreement (Brown & Brown Inc)

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Limitation on Payment Restrictions Affecting Consolidated Companies. Create or otherwise cause or suffer to exist or become effective, any consensual encumbrance or restriction on the ability of any Consolidated Company to (a) pay dividends or make any other distributions on such Consolidated Company’s stock, or (b) pay any indebtedness owed to Borrower or any other Consolidated Company, except in each case any consensual encumbrance or restriction existing under the Credit Documents, the 2004 Note Purchase Agreement, the 2006 Note Purchase Agreement, or Indebtedness described in Section 8.1(g) or Section 8.1(l) hereof (in each case, with respect to any such encumbrance or restriction relating to this Agreement and the other Credit Documents and the indebtedness and obligations evidenced hereunder and thereunder, as in effect as of the date hereof or as amended or supplemented in a manner acceptable to Lender)hereof.

Appears in 2 contracts

Samples: Revolving and Term Loan Agreement, Revolving and Term Loan Agreement (Brown & Brown Inc)

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Limitation on Payment Restrictions Affecting Consolidated Companies. Create or otherwise cause or suffer to exist or become effective, any consensual encumbrance or restriction on the ability of any Consolidated Company to (a) pay dividends or make any other distributions on such Consolidated Company’s stock, or (b) pay any indebtedness owed to Borrower or any other Consolidated Company, except in each case any consensual encumbrance or restriction existing under the Credit Documents, the 2004 Note Purchase Agreement, the 2006 Note Purchase Agreement, or as are contained in the documentation of the Indebtedness described in Section 8.1(g) or Section 8.1(l) hereof (in each case, with respect to any such encumbrance or restriction relating to this Agreement and the other Credit Documents and the indebtedness and obligations evidenced hereunder and thereunder, as in effect as of the date hereof or as amended or supplemented in a manner acceptable to Lender)hereof.

Appears in 1 contract

Samples: Revolving Loan Agreement (Brown & Brown Inc)

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