Common use of Designation of Non-Restricted/Restricted Subsidiaries Clause in Contracts

Designation of Non-Restricted/Restricted Subsidiaries. (a) The Borrower from time to time, by notice to the Agent in the form of Schedule H, shall be entitled to designate (and re-designate) that either: (i) a Restricted Subsidiary will be a Non-Restricted Subsidiary; or (ii) a Non-Restricted Subsidiary will be a Restricted Subsidiary, provided that, the Borrower will not be entitled to designate a Restricted Subsidiary to be a Non-Restricted Subsidiary if: (iii) a Default or an Event of Default has occurred and is continuing unless the exercise of the Borrower’s discretion under paragraph (i) or (ii) above would cause such Default or Event of Default to be cured; or (iv) a Default or an Event of Default would result from or exist immediately after such a designation. (b) If the Borrower designates a Material Restricted Subsidiary to either no longer be a Material Restricted Subsidiary or to be a Non-Restricted Subsidiary as set out in clause (a) above, such Material Restricted Subsidiary shall be released from its obligations under the Guarantee Agreement by the Agent upon written request by the Borrower if such request is accompanied by an officer’s certificate of a senior officer of the Borrower certifying that no Default or Event of Default has occurred and is continuing at the time of such designation or would result from such designation, including pursuant to Section 14.1(v). (c) As at the Closing Date, the Restricted Subsidiaries, Material Restricted Subsidiaries and Non-Restricted Subsidiaries are as set out in Schedule F. Unless otherwise designated in accordance with Section 15.1(a), all Subsidiaries of the Borrower will be deemed to be Restricted Subsidiaries.

Designation of Non-Restricted/Restricted Subsidiaries. (a) The Borrower from time to time, by notice to the Agent in the form of Schedule H, shall be entitled to designate (and re-designate) that either: (i) a Restricted Subsidiary will be a Non-Restricted Subsidiary; or (ii) a Non-Restricted Subsidiary will be a Restricted Subsidiary, provided that, the Borrower will not be entitled to designate a Restricted Subsidiary to be a Non-Restricted Subsidiary if: (iii) a Default or an Event of Default has occurred and is continuing unless the exercise of the Borrower’s discretion under paragraph (i) or (ii) above would cause such Default or Event of Default to be cured; or (iv) a Default or an Event of Default would result from or exist immediately after such a designation. (b) If the Borrower designates a Material Restricted Subsidiary to either no longer be a Material Restricted Subsidiary or to be a Non-Restricted Subsidiary as set out in clause (a) above, such Material Restricted Subsidiary shall be released from its obligations under the Guarantee Agreement by the Agent upon written request by the Borrower if such request is accompanied by an officer’s certificate of a senior officer of the Borrower certifying that no Default or Event of Default has occurred and is continuing at the time of such designation or would result from such designation, including pursuant to Section 14.1(v). (c) As at the Closing Date, the Restricted Subsidiaries, Material Restricted Subsidiaries and Non-Restricted Subsidiaries are as set out in Schedule F. Unless otherwise designated in accordance with Section 15.1(a), all Subsidiaries of the Borrower Trust will be deemed to be Restricted Subsidiaries.

Designation of Non-Restricted/Restricted Subsidiaries. (a) The Borrower from time to time, by notice to the Agent in the form of Schedule H, shall be entitled to designate (and re-designate) that either: (i) a Restricted Subsidiary will be a Non-Restricted Subsidiary; or (ii) a Non-Restricted Subsidiary will be a Restricted Subsidiary, provided that, the Borrower will not be entitled to designate a Restricted Subsidiary to be a Non-Restricted Subsidiary if: (iii) a Default or an Event of Default has occurred and is continuing unless the exercise of the Borrower’s 's discretion under paragraph (i) or (ii) above would cause such Default or Event of Default to be cured; or (iv) a Default or an Event of Default would result from or exist immediately after such a designation. (b) If the Borrower designates a Material Restricted Subsidiary to either no longer be a Material Restricted Subsidiary or to be a Non-Restricted Subsidiary as set out in clause (a) above, such Material Restricted Subsidiary shall be released from its obligations under the Guarantee Agreement by the Agent upon written request by the Borrower if such request is accompanied by an officer’s certificate of a senior officer of the Borrower certifying that no Default or Event of Default has occurred and is continuing at the time of such designation or would result from such designation, including pursuant to Section 14.1(v). (c) As at the Closing Date, the Restricted Subsidiaries, Material Restricted Subsidiaries and Non-Restricted Subsidiaries are as set out in Schedule F. Unless otherwise designated in accordance with Section 15.1(a), all Subsidiaries of the Borrower Trust will be deemed to be Restricted Subsidiaries.

Designation of Non-Restricted/Restricted Subsidiaries. (a) The Borrower from time to time, by notice to the Agent in the form of Schedule HJ, shall be entitled to designate (and re-designate) that either: (i) a Restricted Subsidiary will be a Non-Restricted Subsidiary; or (ii) a Non-Restricted Subsidiary will be a Restricted Subsidiary, provided that, the Borrower will not be entitled to designate a Restricted Subsidiary to be a Non-Restricted Subsidiary if: (iii) a Default or an Event of Default has occurred and is continuing unless the exercise of the Borrower’s discretion under paragraph (i) or (ii) above would cause such Default or Event of Default to be cured; or (iv) a Default or an Event of Default would result from or exist immediately after such a designation. (b) If the Borrower designates a Material Restricted Subsidiary to either no longer be a Material Restricted Subsidiary or to be a Non-Restricted Subsidiary as set out in clause (a) above, such Material Restricted Subsidiary shall be released from its obligations under the Guarantee Agreement by the Agent upon written request by the Borrower if such request is accompanied by an officer’s certificate of a senior officer of the Borrower certifying that no Default or Event of Default has occurred and is continuing at the time of such designation or would result from such designation, including pursuant to Section 14.1(v). (c) As at the Closing Date, the Restricted Subsidiaries, Material Restricted Subsidiaries and Non-Restricted Subsidiaries are as set out in Schedule F. Unless otherwise designated in accordance with Section 15.1(a), all Subsidiaries of the Borrower will be deemed to be Restricted Subsidiaries.H.

Designation of Non-Restricted/Restricted Subsidiaries. (a) The Borrower from time to time, by notice to the Agent in the form of Schedule HG, shall be entitled to designate (and re-designate) that either: (i) a Restricted Subsidiary will be a Non-Restricted Subsidiary; or (ii) a Non-Restricted Subsidiary will be a Restricted Subsidiary and/or a Material Restricted Subsidiary, provided that, the Borrower will not be entitled to designate a Restricted Subsidiary to be a Non-Restricted Subsidiary if: (iii) a Default or an Event of Default has occurred and is continuing unless the exercise of the Borrower’s 's discretion under paragraph (i) or (ii) above would cause such Default or Event of Default to be cured; or (iv) a Default or an Event of Default would result from or exist immediately after such a designation. (b) If the Borrower designates a Material Restricted Subsidiary to either no longer be a Material Restricted Subsidiary or to be a Non-Restricted Subsidiary as set out in clause (a) above, such Material Restricted Subsidiary shall be released from its obligations under the its Guarantee Agreement by the Agent upon written request by the Borrower if such request is accompanied by an officer’s 's certificate of a senior officer of the Borrower certifying that no Default or Event of Default has occurred and is continuing at the time of such designation or would result from such designation, including pursuant to Section 14.1(v). (c) As at the Closing Date, the Restricted Subsidiaries, Material Restricted Subsidiaries and Non-Restricted Subsidiaries are as set out in Schedule F. Unless otherwise designated in accordance with Section 15.1(a), all Subsidiaries of the Borrower will be deemed to be Restricted Subsidiaries.