Common use of Maintenance of Subsidiaries Clause in Contracts

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary to issue, assign, sell or transfer, any shares Equity Interests of a Subsidiary; provided that the foregoing shall not operate to prevent (a) Liens on the Equity Interests of Subsidiaries granted to Administrative Agent pursuant to the Collateral Documents, (b) the issuance, sale, and transfer to any Person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person as a director of such Subsidiary, and (c) any transaction permitted by Section 7.04(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary to issue, assign, sell or transfer, any shares Equity Interests of capital stock of a Subsidiary; provided provided, however, that the foregoing shall not operate to prevent (ai) Liens the Lien on the Equity Interests capital stock of Subsidiaries each Subsidiary granted to Administrative the Agent pursuant to the Collateral Documents, (bii) the issuance, sale, sale and transfer to any Person person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person person as a director of such Subsidiary, and (ciii) any transaction permitted by Section 7.04(c8.10(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary to issue, assign, sell or transfer, any shares Equity Interests of capital stock of a Material Subsidiary; provided provided, however, that the foregoing shall not operate to prevent (ai) Liens the Lien on the Equity Interests capital stock of Subsidiaries each Subsidiary granted to Administrative the Agent pursuant to the Collateral Documents, (bii) the issuance, sale, sale and transfer to any Person person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person person as a director of such Subsidiary, and (ciii) any transaction permitted by Section 7.04(c8.10(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary to issue, assign, sell or transfer, any shares Equity Interests of capital stock of a Subsidiary; provided provided, however, that the foregoing shall not operate to prevent (ai) Liens the Lien on the Equity Interests capital stock of Subsidiaries each Subsidiary granted to Administrative the Agent pursuant to the Collateral Documents, (bii) the issuance, sale, sale and transfer to any Person person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person person as a director of such Subsidiary, and (ciii) any transaction permitted by Section 7.04(c8.16(c) above.

Maintenance of Subsidiaries. The Borrower Company shall not assign, sell or transfer, nor shall it or permit any Subsidiary of its Subsidiaries to issue, assign, sell or transfer, any shares Equity Interests of capital stock of a Subsidiary; provided provided, however, that the foregoing shall not operate to prevent (aw) Liens the Lien on the Equity Interests capital stock of Subsidiaries each Subsidiary granted to Administrative the Agent pursuant to the Collateral Documents, (bx) the issuance, sale, sale and transfer to any Person person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person person as a director of such Subsidiary, and (cy) any transaction permitted by Section 7.04(c7.15(c) above, and (z) the issuance of capital stock of a Restricted Subsidiary if after giving effect to such issuance such Subsidiary remains a Restricted Subsidiary.

Maintenance of Subsidiaries. The Borrower Company shall not assign, sell or transfer, nor shall it or permit any Subsidiary of its Subsidiaries to issue, assign, sell or transfer, any shares Equity Interests of capital stock of a Subsidiary; provided provided, however, that the foregoing shall not operate to prevent (aw) Liens the Lien on the Equity Interests capital stock of Subsidiaries each Subsidiary granted to Administrative the Agent pursuant to the Collateral Documents, (bx) the issuance, sale, sale and transfer to any Person person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person person as a director of such Subsidiary, and (cy) any transaction permitted by Section 7.04(c7.16(c) above, and (z) the issuance of capital stock of a Restricted Subsidiary if after giving effect to such issuance such Subsidiary remains a Restricted Subsidiary.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary Designated Company to issue, assign, sell or transfer, any shares Equity Interests of capital stock of a SubsidiaryDesignated Company; provided provided, however, that the foregoing shall not operate to prevent (a) Liens on the Equity Interests capital stock of Subsidiaries Designated Companies granted to the Administrative Agent pursuant to the Collateral Documents, (b) the issuance, sale, sale and transfer to any Person person of any shares of capital stock of a Subsidiary the Borrower solely for the purpose of qualifying, and to the extent legally necessary to qualify, such Person person as a director of such Subsidiary, the Borrower and (c) any transaction permitted by Section 7.04(c8.10(b) above.