Common use of Ownership of Subsidiary Stock Clause in Contracts

Ownership of Subsidiary Stock. ChipPAC 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 as permitted under this Agreement and the Collateral Documents or to qualify directors or for nominee holders if required by applicable law; or (ii) except as a result of a sale permitted hereby of all of the outstanding Capital Stock of a Loan Party to a third party, permit any Capital Stock of any Loan Party to be directly or indirectly owned by any person other than ChipPAC, Company or a Subsidiary Guarantor; (iii) 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 as permitted under this Agreement and the Collateral Documents, to ChipPAC or another Subsidiary of ChipPAC or to qualify directors or for nominee holders, if required by applicable law.

Ownership of Subsidiary Stock. ChipPAC 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 as permitted or required under this Agreement and the Collateral Documents or to qualify directors or for nominee holders if required by applicable law; or (ii) except as a result of a sale permitted hereby of all of the outstanding Capital Stock of a Loan Party to a third party, permit any Capital Stock of any Loan Party to be directly or indirectly owned by any person other than ChipPAC, Company or a Subsidiary Guarantor; (iii) 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 as permitted or required under this Agreement and the Collateral Documents, to ChipPAC or another Subsidiary of ChipPAC or to qualify directors or for nominee holders, if required by applicable law.