Common use of No Restrictions on Subsidiary Distributions Clause in Contracts

No Restrictions on Subsidiary Distributions. Except as provided herein the Company 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 the Company or any other Subsidiary of the Company, (ii) repay or prepay any Indebtedness owed by such Subsidiary to the Company or any other Subsidiary of the Company, (iii) make loans or advances to the Company or any other Subsidiary of the Company, or (iv) transfer any of its property or assets to the Company or any other Subsidiary of the Company.

Appears in 2 contracts

Samples: Credit Agreement (Vans Inc), Credit Agreement (Vans Inc)

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No Restrictions on Subsidiary Distributions. Except as provided herein the to Company will not, and will not permit or Other --------------------------------------------------------------- Subsidiaries. Permit any of its Subsidiaries to, 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 the Company or any other Subsidiary of the Company, (ii) repay or prepay any Indebtedness owed by such Subsidiary to the Company or any other Subsidiary of the Company, (iii) make loans or advances to the Company or any other Subsidiary of the Company, or (iv) transfer any of its property or assets to the Company or any other Subsidiary of the CompanySubsidiary.

Appears in 1 contract

Samples: Securities Purchase Agreement (Grace Development Inc)

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No Restrictions on Subsidiary Distributions. Except as provided herein herein, the Company will not, shall not and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly 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 Restricted Subsidiary to to: (i1) pay dividends or make any other distributions distribution on any of such Restricted Subsidiary's capital stock or other equity interests owned by the Company or any other Restricted Subsidiary of the Company, ; (ii2) repay or prepay pay any Indebtedness indebtedness owed by such Subsidiary to the Company or any other Subsidiary of the Company, Restricted Subsidiary; (iii3) make loans or advances to the Company or any other Restricted Subsidiary of the Company, or (iv4) transfer any of its property or assets to the Company or any other Subsidiary of the CompanyRestricted Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (Everest One Ipa Inc)

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