Payments of Subordinated Indebtedness. Make any prepayment of any principal, interest or other amounts owed in respect of any Subordinated Indebtedness, if (i) a Default has occurred and is continuing or would exist after giving effect to such prepayment or (ii) the Guarantor or any Borrower would not be in compliance, on a pro forma basis after giving effect to such prepayment, with the covenants contained in Section 6.1(a) and (c).
Payments of Subordinated Indebtedness. The Obligors shall not, and shall not permit any of their Subsidiaries to, make any payments (whether voluntary or mandatory, a prepayment or repayment, repurchase or redemption) in respect of any Subordinated Indebtedness other than, subject to the terms of the applicable subordination or similar agreement in favor of (or entered into for the benefit of) the Agent or the Lenders, scheduled payments (including, without limitation, associated fees and costs) of such Subordinated Indebtedness to the extent payment is permitted pursuant to the terms of the applicable subordination or similar agreement.
Payments of Subordinated Indebtedness. Pay, prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled payment thereof any Subordinated Indebtedness; provided, however, that so long as no Default or Event of Default exists at the time of such proposed prepayment or would result therefrom, the Borrowers may pay or prepay the Permitted Subordinated Indebtedness to the extent permitted by the subordination agreement related thereto.
Payments of Subordinated Indebtedness. Make any prepayment of any principal, interest or other amounts owed in respect of any Subordinated Indebtedness, provided that the Borrower may (i) cash settle conversions of the Subordinated Notes to the extent required pursuant to the Subordinated Notes Indenture as in effect on the date hereof, (ii) refinance the Subordinated Notes with the Net Cash Proceeds of or in exchange for the issuance of (x) Capital Stock (other than mandatorily redeemable preferred Capital Stock with a scheduled mandatory redemption prior to March 15, 2015) of the Borrower or (y) any Subordinated Indebtedness with a maturity date that is not earlier than March 15, 2015 and (iii) refinance any Subordinated Indebtedness (other than the Subordinated Notes) with the Net Cash Proceeds of the issuance of Capital Stock (other than mandatorily redeemable preferred Capital Stock with a scheduled mandatory redemption prior to the maturity date of the Subordinated Indebtedness that is refinanced) of the Borrower or other Subordinated Indebtedness.
Payments of Subordinated Indebtedness. Until all of the Senior Indebtedness has been Finally Paid, Borrower shall not make and Subordinated Lender shall not accept any direct or indirect payment in cash, property or securities, by set-off or otherwise, with respect to any Subordinated Indebtedness, including, without limitation, any principal or interest payments, except to the extent permitted in this Section 5 or Section 6. Borrower shall be permitted to make payments of interest only in respect of the Subordinated Indebtedness in accordance with the provisions of the Subordinated Debt Loan Agreement, and to pay the expenses described in Sections 5.1(e) and 6.17 of the Subordinate Debt Loan Agreement provided that (i) no Event of Default under Section 8.1 of the Term Loan Agreement or Section 8.1 of the Revolving Loan Agreement, each as in effect on the date hereof, exists at the time of such payment or (ii) such payment does not occur during any Standstill Period, as described in Section 6 hereof. Notwithstanding the foregoing, Subordinated Lender may demand, receive and retain such payments until the Senior Lender has given a Default Notice as described in Section 6 hereof.
Payments of Subordinated Indebtedness. Borrower may make regularly scheduled payments of interest in respect of the Subordinated Notes in accordance with terms of, and only to the extent required by, and subject to the subordination provisions contained in, the Subordinated Note Indenture."
Payments of Subordinated Indebtedness. Such Obligor will not, and will not permit any of its Subsidiaries to, make any payments in respect of any Subordinated Indebtedness other than as permitted by any subordination agreement with Administrative Agent entered into in connection therewith.
Payments of Subordinated Indebtedness. Until all of the Senior Indebtedness has been Finally Paid, Borrower shall not make and Subordinated Lender shall not accept any direct or indirect payment or prepayment in cash, property or securities, by set-off or otherwise, with respect to any Subordinated Indebtedness, except that scheduled payments under the Notes may be paid as due ("ALLOWED PAYMENT") if, and only to the extent that at the time of any such Allowed Payment: (a) no "Event of Default" has occurred and is continuing under the Loan Agreement and no Event of Default would result from the making of such Allowed Payment, (b) according to the monthly financial statements submitted to Senior Lender by Borrower pursuant to the Loan Agreement Borrower will be in compliance with all the financial covenants set forth in Section 14 of the Revolving Loan Agreement after giving effect to all of the Allowed Payments Borrower proposes to make, and (c) Borrower will have at least $500,000 of Excess Availability (as such term is defined in the Revolving Loan Agreement) after giving effect to all the Allowed Payments Borrower proposes to make. Compliance with the foregoing requirements must be reflected in the most recent financial statements and compliance certificate submitted to Senior Lender by Borrower pursuant to the Loan Agreement prior to the making of any Allowed Payment.
Payments of Subordinated Indebtedness. The Loan Parties shall not make any voluntary or optional prepayment of any Indebtedness other than the Obligations and Senior Indebtedness.
Payments of Subordinated Indebtedness. Until all of the Senior Indebtedness has been fully and finally paid, none of the Loan Parties shall make, and none of the Junior Lenders shall accept, any direct or indirect payment in cash, property or securities, by set-off or otherwise, with respect to any Subordinated Indebtedness, including, without limitation, any principal or interest payments, except for regularly accruing installments of principal and interest (calculated only at the non-default rate) which are due and payable according to the terms of each individual Junior Lender Note; provided that, no Event of Default would occur as the result of making any such payment. In the event that any of the Loan Parties determine that making a scheduled payment to a Junior Lender would result in an Event of Default, Parent shall promptly notify the Most Senior Lender and Agent.
