No Restrictions on Subsidiary Distributions. Except as provided herein, the Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of the Borrower or any Subsidiary to: (a) guarantee the Obligations and grant Liens on its assets to the Administrative Agent for the benefit of the Lenders as required by Sections 4 and 12 hereof, or (b) in the case of any Subsidiary, pay dividends or make any other distribution on any of such Subsidiary's capital stock or other equity interests owned by the Borrower or any Subsidiary.
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Samples: Credit Agreement (Lamson & Sessions Co), Credit Agreement (Lamson & Sessions Co), Credit Agreement (Lamson & Sessions Co)
No Restrictions on Subsidiary Distributions. Except as provided herein, the Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind on the ability of the Borrower or any Subsidiary to: (a) guarantee the Obligations and grant Liens on its assets to the Administrative Agent for the benefit of the Lenders as required by Sections 4 and 12 hereof, or (b) in the case of any Subsidiary, pay dividends or make any other distribution on any of such Subsidiary's ’s capital stock or other equity interests owned by the Borrower or any Subsidiary.
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