Common use of No Restrictions on Subsidiary Distributions to Holdings or Other Subsidiaries Clause in Contracts

No Restrictions on Subsidiary Distributions to Holdings or Other Subsidiaries. Except (i) as provided herein, as (ii) described on Schedule 7(b) annexed hereto, and (iii) pursuant to the Credit Agreement, Holdings will not, and will not permit any of its Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to (i) pay dividends or make any other distributions on any of such Subsidiary's capital stock owned by Holdings or any other Subsidiary of Holdings, (ii) repay or prepay any Indebtedness owed by such Subsidiary to Holdings or any other Subsidiary of Holdings, (iii) make loans or advances to Holdings or any other Subsidiary of Holdings, or (iv) transfer any of its property or assets to Holdings or any other Subsidiary of Holdings.

Appears in 1 contract

Samples: Lease Agreement (Atlas Air Worldwide Holdings Inc)

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No Restrictions on Subsidiary Distributions to Holdings or Other Subsidiaries. Except (i) as provided herein, as (ii) described on Schedule 7(b) SCHEDULE 6.2 annexed hereto, and (iii) pursuant to the Credit AFL III Financing Agreement, Holdings will not, and will not permit any of its Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any such Subsidiary to (i) pay dividends or make any other distributions on any of such Subsidiary's capital stock owned by Holdings or any other Subsidiary of Holdings, (ii) repay or prepay any Indebtedness owed by such Subsidiary to Holdings or any other Subsidiary of Holdings, (iii) make loans or advances to Holdings or any other Subsidiary of Holdings, or (iv) transfer any of its property or assets to Holdings or any other Subsidiary of Holdings.

Appears in 1 contract

Samples: Credit Agreement (Atlas Air Worldwide Holdings Inc)

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