Common use of Disposal of Subsidiary Stock Clause in Contracts

Disposal of Subsidiary Stock. Except for any sale by a Borrower of 100% of the capital stock or other equity Securities of any of its Subsidiaries in compliance with the provisions of subsection 6.7, no Credit Party shall: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit Party, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except pursuant to the Collateral Documents and except for any sale by a Borrower of 100% of the capital stock or other equity Securities of any of its Subsidiaries in compliance with the provisions of subsection 6.77.7(i) or (iii), no Credit Party Borrower shall: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit PartyCompany, another Subsidiary of Company, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except pursuant to the Collateral Documents and except for any sale by a Borrower of 100% of the capital stock or other equity Securities of any of its Subsidiaries in compliance with the provisions of subsection 6.77.7(i) or (v), no Credit Party shallCompany shall not: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit PartyCompany, another Subsidiary of Company, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except pursuant to the Collateral Documents and except for any sale by a Borrower of 100% of the capital stock or other equity Securities of any of its Subsidiaries in compliance with the provisions of subsection 6.77.7(i) or (v), no Credit Party Borrower shall: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit PartyCompany, another Subsidiary of Company, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except for any sale by a Borrower in compliance with the provisions of subsections 7.7(vi) and (vii) of 100% of the capital stock or other equity Securities of any of its Subsidiaries in compliance with or pursuant to the provisions of subsection 6.7Collateral Documents, no Credit Party shallCompany shall not: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit PartyCompany, another Subsidiary of Company, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except for any sale by a Borrower of 100% of the capital stock The Credit Parties shall not, except as specifically permitted under subsection 7.7 or other equity Securities of any of its Subsidiaries in compliance with the provisions of subsection 6.7, no Credit Party shall7.2: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its their respective Subsidiaries, except with respect to Administrative Agent pursuant to the terms of the Collateral Documents Security Documents, the Credit Parties, another Subsidiary of any Credit Party, or (ii) to qualify directors if required by applicable law; or (ii) permit any of its their respective Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its the Credit Parties' respective Subsidiaries (including such Subsidiary), except with respect to a Agent pursuant to the terms of the Security Documents, the Credit Parties, another Subsidiary of any Credit Party, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except for any sale by a Borrower of any Regulatory Shares ---------------------------- or 100% of the capital stock or other equity Securities of any of its Subsidiaries in compliance with the provisions of subsection 6.77.7(iv) of the Existing Credit Facility Loan Agreement, no Credit Party shallBorrower shall not: (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit PartyBorrower, another Subsidiary of Borrower, or to qualify directors if required by applicable law.

Disposal of Subsidiary Stock. Except pursuant to the Collateral Documents and except for any sale by a Borrower of 100% all of the capital stock or other equity Securities of any of its Subsidiaries owned by any Borrower and its Subsidiaries in compliance with the provisions of subsection 6.77.7(iv), no Credit Party shall:each Borrower shall not: 126 (i) directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries, except to Administrative Agent pursuant to the terms of the Collateral Documents or (ii) to qualify directors if required by applicable law; or (ii) permit any of its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of any of its Subsidiaries (including such Subsidiary), except to a Credit PartyCompany, another Subsidiary of Company, or to qualify directors if required by applicable law.