Common use of Stock of Foreign Subsidiaries Clause in Contracts

Stock of Foreign Subsidiaries. (i) Within sixty (60) days of the Closing Date, pledge to the Control Agent for the benefit of the Collateral Agent (on behalf of the Lenders) 65% of the issued and outstanding Equity Interests of Facet Technologies Limited, together with stock certificates and undated stock powers executed in blank and opinions of counsel and any filings and deliveries reasonably necessary in connection therewith to perfect the security interest of the Control Agent therein, all in form and substance reasonably satisfactory to the Control Agent. (ii) Within ninety (90) days of the Closing Date, either (A) Dispose of the German Subsidiary and apply the Net Cash Proceeds received from such Disposition in accordance with the terms of Section 2.05(b)(ii) or (B) pledge to the Control Agent for the benefit of the Collateral Agent (on behalf of the Lenders) 65% of the issued and outstanding Equity Interests of the German Subsidiary, together with stock certificates and undated stock powers executed in blank and opinions of counsel and any filings and deliveries reasonably necessary in connection therewith to perfect the security interest of the Control Agent therein, all in form and substance reasonably satisfactory to the Control Agent.

Stock of Foreign Subsidiaries. (i) Within sixty (60) days of the Closing Date, pledge to the Control Agent for the benefit of the Collateral Agent (on behalf of the Lenders) 65% of the issued and outstanding Equity Interests of Facet Technologies Limited, together with stock certificates and undated stock powers executed in blank and opinions of counsel and any filings and deliveries reasonably necessary in connection therewith to perfect the security interest of the Control Agent therein, all in form and substance reasonably satisfactory to the Control Agent. (ii) Within ninety (90) days of the Closing Date, either (A) Dispose of the German Subsidiary and apply the Net Cash Proceeds received from such Disposition in accordance with the terms of Section 2.05(b)(ii2.03(b)(ii) or (B) pledge to the Control Agent for the benefit of the Collateral Agent (on behalf of the Lenders) 65% of the issued and outstanding Equity Interests of the German Subsidiary, together with stock certificates and undated stock powers executed in blank and opinions of counsel and any filings and deliveries reasonably necessary in connection therewith to perfect the security interest of the Control Agent therein, all in form and substance reasonably satisfactory to the Control Agent.