Common use of Restricted Indebtedness Clause in Contracts

Restricted Indebtedness. (a) No Credit Party will, nor will it permit any Restricted Subsidiary to, optionally or voluntarily redeem, purchase, acquire, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, or segregate funds with respect to, any Restricted Indebtedness (“Restricted Indebtedness Payments”) other than (i) Restricted Indebtedness Payments made in respect of intercompany Restricted Indebtedness; provided that no such payment may be made to a non-Credit Party unless the Payment Conditions shall be satisfied; (ii) Restricted Indebtedness Payments made by exchange for, or out of the proceeds of the substantially concurrent incurrence of, Permitted Refinancing Indebtedness; (iii) Restricted Indebtedness Payments made by exchange for Equity Interests of the Parent (other than Disqualified Stock); and (iv) Restricted Indebtedness Payments, provided that the Payment Conditions shall be satisfied. (b) With respect to any financing documentation related to any Restricted Indebtedness that is permitted under this Agreement (other than intercompany Restricted Indebtedness), the Parent and the Company shall not, nor shall it permit any of its Restricted Subsidiaries to amend, modify or change such documentation in any manner materially adverse to the interests of the Lenders, it being understood that an amendment shall be deemed to be materially adverse to the interests of the Lenders if the effect of such amendment is (i) to cause such Restricted Indebtedness to mature prior to the date that is ninety-one (91) days following the Scheduled Termination Date, or (ii) to cause the Weighted Average Life to Maturity of such permitted Restricted Indebtedness to be shorter than the Weighted Average Life to Maturity of the Restricted Indebtedness prior to such amendment.

Restricted Indebtedness. (a) No Credit Party will, nor will it permit any Restricted Subsidiary to, optionally or voluntarily redeem, purchase, acquire, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, or segregate funds with respect to, any Restricted Indebtedness (“Restricted Indebtedness Payments”) other than (i) Restricted Indebtedness Payments made in respect of intercompany Restricted Indebtedness; provided that no such payment may be made to a non-Credit Party unless the Payment Conditions shall be satisfied; (ii) Restricted Indebtedness Payments made by exchange for, or out of the proceeds of the substantially concurrent incurrence of, Permitted Refinancing Indebtedness; (iii) Restricted Indebtedness Payments made by exchange for Equity Interests of the Parent (other than Disqualified Stock); and (iv) Restricted Indebtedness Payments, provided that the Payment Conditions shall be satisfied. (b) With respect to any financing documentation related to any Restricted Indebtedness that is permitted under this Agreement (other than intercompany Restricted Indebtedness), the Parent and the Company shall not, nor shall it permit any of its Restricted Subsidiaries to amend, modify or change such documentation in any manner materially adverse to the interests of the Lenders, it being understood that an amendment shall be deemed to be materially adverse to the interests of the Lenders if the effect of such amendment is (i) to cause such Restricted Indebtedness to mature prior to the date that is ninety-one (91) days following the Scheduled Termination Date, or (ii) to cause the Weighted Average Life to Maturity of such permitted Restricted Indebtedness to be shorter than the Weighted Average Life to Maturity of the Restricted Indebtedness provide for any scheduled amortization or mandatory prepayments prior to such amendmentthe Scheduled Termination Date, other than customary asset sale or change of control provisions.