Common use of Increase in capital Clause in Contracts

Increase in capital. Neither the Lessee nor the Lessee Parent shall issue shares or other equity interests to anyone except the Lessee Parent (in relation to the Lessee) and the Ultimate Shareholder (in relation to the Lessee Parent) which shares have been or will be charged to the Lessor pursuant to the Lessee Share Charge and the Lessee Parent Share Charge or such document which terms are substantially the same as the Lessee Share Charge and the Lessee Parent Share Charge.

Appears in 2 contracts

Sources: Lease Agreement (Paragon Offshore PLC), Lease Agreement (Paragon Offshore PLC)