Example ContractsClausesBurdensome Agreements
Burdensome Agreements
Burdensome Agreements contract clause examples

Burdensome Agreements. Create, enter into or permit to exist # any Contractual Obligation (other than this Agreement, any other Loan Document or any Permitted Refinancing Indebtedness incurred to refinance any such Indebtedness) that limits the ability # except as permitted under [Section 8.01] or the documentation governing any Credit Agreement Refinancing Indebtedness, of Holdings or any Restricted Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person to secure the Obligations or any refinancing thereof or # of Holdings or any Restricted Subsidiary to pay dividends or other distributions with respect to any of its Equity Interests or to make or repay loans or advances, in each case, to Holdings or any Restricted Subsidiary or to Guarantee Indebtedness of Holdings or any Restricted Subsidiary or # a Canadian Defined Benefit Pension Plan, except, in respect of any Restricted Subsidiary acquired after the Closing Date, any such pension plan that # existed as of the date of acquisition of such Restricted Subsidiary (and not created in contemplation of such acquisition) and # does not have a funding deficiency of in excess of the greater of # $50,000,000 and # 13% of Consolidated EBITDA as of the last day of the last Test Period for which financial statements have been delivered pursuant to [Section 7.01]; provided that the foregoing restrictions in [Section 8.08(x)] shall not apply to:

Burdensome Agreements. Enter into any Contractual Obligation that limits the ability # of any Subsidiary to make Restricted Payments to any Borrower or to otherwise transfer property to any Borrower or # of any Borrower to create, incur, assume or suffer to exist Liens on property of such Person.

Burdensome Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement or any other Loan Document) that limits the ability # of any Subsidiary to make Restricted Payments to the Borrower or any Guarantor or to otherwise transfer property to or invest in the Borrower or any Guarantor or # of any Subsidiary to Guarantee the Indebtedness of the Borrower.

Enter into, or permit to exist, any Contractual Obligation (except for this Agreement and the other Loan Documents) that encumbers or restricts the ability of any such Person to # to act as a Loan Party; # make Restricted Payments to any Loan Party, # pay any Indebtedness or other obligation owed to any Loan Party, # make loans or advances to any Loan Party, or # pledge its property or assets pursuant to the Loan Documents; except (in respect of any of the matters referred to in [clauses (a) through (e) above]) for # this Agreement and the other Loan Documents, # in the case of clause (e) only, # restrictions or conditions imposed by any agreement relating to purchase money Indebtedness, Capital Leases and other secured Indebtedness permitted by this Agreement and # any Permitted Lien or any document or instrument governing any Permitted Lien; provided, that, with respect to each of clauses (A) and (B), (x) such restrictions or conditions apply only to the property or assets either # financed by (or securing) such Indebtedness or # subject to such Permitted Lien and # such restrictions or conditions do not restrict the Liens of the Administrative Agent securing the Secured Obligations (for purposes of clarification this [clause (y)] shall not restrict the Borrower and its Subsidiaries from incurring purchase money Indebtedness or Capital Leases so long as the documents governing such Indebtedness or Capital Lease only restrict the assets or property subject to such Indebtedness or Capital Lease), # customary restrictions and conditions contained in agreements relating to the sale of a joint venture or Subsidiary or any assets of the Borrower, any Subsidiary or any joint venture pending such sale, provided, that, such restrictions and conditions apply only to the assets, joint venture or Subsidiary to be sold, # customary provisions in leases, subleases, licenses, sublicenses, Joint Venture agreements (created in the ordinary course of business) and other contracts restricting the assignment thereof, # customary provisions restricting assignment or transfer of any agreement entered into in the ordinary course of business, # any agreement in effect # on the Closing Date or # at the time that any joint venture or Subsidiary (or any asset) is acquired by the Borrower or any Subsidiary, in each case, so long as it was not entered into in contemplation thereof, # restrictions on cash or other deposits imposed by suppliers, landlords, customers, insurance and surety or bonding companies under contracts entered into in the ordinary course of business, # in respect of matters referenced in [clauses (b) through (d) above] and, to the extent such restrictions apply only to Subsidiaries other than Wholly-Owned Domestic Subsidiaries, [clause (e) above], restrictions arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if such 1204724.01-CHISR02A - MSW

Burdensome Agreements. Enter into any Contractual Obligation that limits the ability # of any Subsidiary to make Restricted Payments to any Borrower or to otherwise transfer property to any Borrower or # of any Borrower to create, incur, assume or suffer to exist Liens on property of such Person.

Enter into or permit to exist any agreement, document, or instrument (other than this Agreement or any Other Document) that # limits the ability # of any Subsidiary to make any payment or other distributions to any Loan Party or to otherwise transfer property to or invest in a Loan Party, # of any Subsidiary to guarantee the Obligations, # of any Subsidiary to make or repay loans to a Loan Party, or # of Loan Parties or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person in favor of Agent; provided, however, that, this clause (iv) shall not prohibit # any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under [Section 7.8(b)] solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness or # the negative pledge provisions set forth in any Receivable Financing Documents; or # requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person.

Burdensome Agreements. Enter into any Contractual Obligation (other than this Agreement or any other Loan Document) that # limits the ability # of any Subsidiary to make Restricted Payments to any Borrower or any Guarantor or to otherwise transfer property to any Borrower or any Guarantor, # of any Subsidiary to Guarantee the Indebtedness of any Borrower hereunder or # of any Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however, that this clause (iii) shall not prohibit any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under [Section 7.03(e)] solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; or # requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person; provided, however, that nothing in this Section 7.09 shall prohibit a non-Domestic Subsidiary from entering into any such Contractual Obligations.

Burdensome Agreements. Enter into any Contractual Obligation that limits the ability # of any Subsidiary (other than Excluded Subsidiaries) to make Restricted Payments to the Company or to otherwise transfer property to the Company or # of the Company or any Subsidiary (other than Excluded Subsidiaries) to create, incur, assume or suffer to exist Liens on property of such Person to secure the Obligations, except the following: # this Agreement and the other Loan Documents; # restrictions and conditions imposed by applicable Law, # any document or instrument governing Indebtedness incurred pursuant to [Section 7.03(e)], provided that any such restriction contained therein relates only to the asset or assets acquired in connection therewith, # customary restrictions and conditions contained in sale agreements, purchase agreements, and acquisition agreements (including agreements providing for any sale, purchase, or acquisition by way of merger, acquisition, or consolidation) entered into by the Company or any Subsidiary pending the closing of such transaction, provided that such restrictions and conditions apply only to the Subsidiary or assets that is or are to be sold, # customary provisions in leases, licenses and other contracts restricting the assignment, subletting or transfer thereof or other assets subject thereto, # customary provisions in shareholders agreements, joint venture agreements, organizational or constitutive documents or similar binding agreements relating to any joint venture or non-Wholly Owned Subsidiary and other similar agreements applicable to joint ventures and non-Wholly Owned Subsidiaries and applicable solely to such joint venture or non-Wholly Owned Subsidiary and the Equity Interests issued thereby, # any restrictions on cash or other deposits imposed by agreements entered into in the ordinary course of business, # customary restrictions contained in agreements relating to Indebtedness of any Subsidiary in existence at the time such Subsidiary became a Subsidiary and otherwise permitted by Section 7.03 (but excluding any amendment or modification expanding the scope of any such restriction), provided that such restrictions apply only to such Subsidiary and such restrictions would not materially impair the ability of the Loan Parties, taken as a whole, to perform their obligations under the Loan Documents, or # any Lien permitted by Section 7.01 or any document or instrument governing such Lien; provided that any such restriction contained therein related only to the asset or assets subject to such Lien.

Enter into, or permit to exist, any Contractual Obligation that encumbers or restricts the ability of any Loan Party or Material Foreign Subsidiary to # make Restricted Payments to any Loan Party, # pay any Indebtedness owed to any Loan Party, # transfer any of its property to any Loan Party, # pledge its Collateral pursuant to the Loan Documents or # act as a Loan Party pursuant to the Loan Documents, except (in respect of any of the matters referred to in clauses (i)‑(v) above) for # this Agreement and the other Loan Documents, # any document or instrument governing Indebtedness incurred pursuant to Section 8.03, provided that # with respect to Indebtedness incurred pursuant to [Section 8.03(e)] such restriction contained therein relates only to the asset or assets constructed or acquired in connection therewith and # with respect to Indebtedness incurred pursuant to any other clause of Section 8.03, any such restriction is limited to matters referred to in [clauses (i), (ii) and (iii) above] and does not materially adversely affect the ability of the Borrower to service its Indebtedness (including the Indebtedness arising under this Agreement), # any Permitted Lien or any document or instrument governing any Permitted Lien, provided that any such restriction contained therein relates only to the asset or assets subject to such Permitted Lien, # customary restrictions and conditions contained in any agreement relating to the sale of any property permitted under Section 8.05 pending the consummation of such sale, # anti-assignment provisions in government contracts, or requires the grant of any security for any obligation if such property is given as security for the Obligations, # software and other intellectual property licenses pursuant to which the Borrower or such Subsidiary is the licensee of the relevant software or intellectual property, as the case may be (in which case, any prohibition or limitation shall relate only to the assets subject of the applicable licenses), # any agreements relating to Foreign Subsidiary Indebtedness (in which case, any prohibition or limitation shall relate only to the assets of such Foreign Subsidiaries), # prohibitions and limitations in effect on the date hereof and listed on [Schedule 8.09], # customary provisions contained in joint venture agreements and other similar agreements entered into in the ordinary course of business and applicable to Joint Ventures, (10) customary provisions restricting the subletting or assignment of any lease governing a leasehold interest, # customary restrictions and conditions contained in any agreement relating to any Disposition of property not prohibited hereunder, # customary provisions restricting assignment of any agreement entered into in the ordinary course of business, # restrictions contained in any Contractual Obligations relating to the consummation of a transaction which restrictions are conditioned upon the repayment of the Obligations in full and the termination or expiration of the Commitments, # any agreement in effect at the time any Person becomes a Subsidiary, so long as such agreement was not entered into in contemplation of such Person becoming a Subsidiary, and # any document or instrument governing any Permitted Factoring Transaction, provided that any such restriction relates only to the Permitted Factoring Property actually sold or encumbered pursuant to such Permitted Factoring Transaction.

. Enter into, or permit to exist, any Contractual Obligation that encumbers or restricts the ability of # any Covenant Entity to make Restricted Payments to the holders of its Equity Interests, # any Covenant Entity to enter into a Guaranty or otherwise Guarantee the Indebtedness of each Group Borrower under Group Credit Agreements, or make loans or advances to the Borrower or any Covenant Entity that is a Loan Party, # any Covenant Entity to transfer any of its property to any other Covenant Entity that is a Loan Party (other than a Holding Company[[Borrower:Organization]] or # any Covenant Entity to create, incur, assume or suffer to exist any Lien upon any of their respective properties or revenues, whether now owned or hereafter acquired, for the benefit of the Secured Parties with respect to the Obligations under the Loan Documents, or any renewals, refinancings, exchanges, refundings or extension thereof, except in respect of any of the matters referred to in [clauses ([[Borrower:Organization]]) through ([[Borrower:Organization]]) above]:

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