Common use of Additional Equity Interests Clause in Contracts

Additional Equity Interests. Each Pledgor shall, to the extent it may lawfully do so, and unless otherwise permitted under the terms of the Indenture, use its best efforts to prevent the Pledged Companies from issuing additional Equity Interests or Proceeds, except for cash dividends or other distributions, if any, that are not prohibited by the terms of the Indenture to be paid by the Pledged Companies to Pledgors.

Appears in 2 contracts

Sources: Pledge Agreement (155 East Tropicana, LLC), Pledge Agreement (Oasis Interval Ownership, LLC)