Common use of Specified Provisions Clause in Contracts

Specified Provisions. The Co-Borrowers and each other Loan Party hereby confirm and agree that, from and after the Amendment No. 8 Effective Date, the Company shall not, nor shall it permit any of its Restricted Subsidiaries to: (a) after giving effect to the Associated Transactions (as defined in Amendment No. 7), incur Incremental Term Loans, establish Incremental Revolving Commitments or otherwise incur Permitted First Lien Secured Debt or Permitted Alternative Incremental Facilities Debt pursuant to the capacity provided by subclause (x) of the proviso to the first sentence of Section 2.14(a) of the Credit Agreement, whether through Section 2.14 of the Credit Agreement or through Section 7.03(t) of the Credit Agreement; (b) create, incur, assume or suffer to exist any Indebtedness pursuant to the capacity provided by Section 7.03(s) of the Credit Agreement in an aggregate principal amount exceeding $75,000,000 at any one time outstanding; (c) declare or make, directly or indirectly, any Restricted Payment pursuant to Section 7.06(j) or Section 7.06(l) of the Credit Agreement; and/or (d) prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (X) the Senior Unsecured Notes, (Y) the Senior Secured Notes or (Z) any Subordinated Debt pursuant to Section 7.09(a)(iii) or Section 7.09(a)(iv) of the Credit Agreement. Each Loan Party hereby confirms and agrees that any failure to perform or observe any covenant or agreement contained in the previous sentence shall constitute an Event of Default under Section 8.01(b) of the Credit Agreement.

Appears in 1 contract

Sources: Credit Agreement (Acelity L.P. Inc.)

Specified Provisions. The Co-Borrowers and each other Loan Party hereby confirm and agree that, from and after the Amendment No. 8 7 Effective Date, the Company shall not, nor shall it permit any of its Restricted Subsidiaries to: (a) after giving effect to the Associated Transactions (as defined in Amendment No. 7)Transactions, incur Incremental Term Loans, establish Incremental Revolving Commitments or otherwise incur Permitted First Lien Secured Debt or Permitted Alternative Incremental Facilities Debt pursuant to the capacity provided by subclause (x) of the proviso to the first sentence of Section 2.14(a) of the Credit Agreement, whether through Section 2.14 of the Credit Agreement or through Section 7.03(t) of the Credit Agreement; (b) create, incur, assume or suffer to exist any Indebtedness pursuant to the capacity provided by Section 7.03(s) of the Credit Agreement in an aggregate principal amount exceeding $75,000,000 at any one time outstanding; (c) declare or make, directly or indirectly, any Restricted Payment pursuant to Section 7.06(j) or Section 7.06(l) of the Credit Agreement; and/or (d) prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (X) the Senior Unsecured Notes, (Y) the Senior Secured Notes or (Z) any Subordinated Debt pursuant to Section 7.09(a)(iii) or Section 7.09(a)(iv) of the Credit Agreement. Each Loan Party hereby confirms and agrees that any failure to perform or observe any covenant or agreement contained in the previous sentence shall constitute an Event of Default under Section 8.01(b) of the Credit Agreement.

Appears in 1 contract

Sources: Credit Agreement (Acelity L.P. Inc.)