Common use of Subsidiary Shares Clause in Contracts

Subsidiary Shares. The Borrower will not, directly or indirectly, authorize or issue, or permit any Subsidiary Bank to authorize or issue, any new types, varieties or classes of equity interests of any Subsidiary Bank or any Subsidiary of any Subsidiary Bank, either preferred or common, voting or nonvoting, or any bonds or debentures (subordinated or otherwise) convertible into any equity interests of any Subsidiary Bank or such Subsidiary, or any stock options or warrants, or authorize or issue any additional shares of any existing class of any equity interests of any Subsidiary Bank or any such Subsidiary, or grant any Person other than the Lender any proxy for existing equity interests, or cause or allow or declare any stock splits or take any other action which could, directly or indirectly, decrease Borrower’s ownership interest in any Subsidiary Bank or any such Subsidiary to a level below the percentage of equity interests Borrower holds in any Subsidiary Bank or any such Subsidiary as of the Effective Date. Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary Bank or any Subsidiary of any Subsidiary Bank to directly or indirectly create, assume, incur, suffer or permit to exist any pledge, encumbrance, security interest, assignment, Lien or charge of any kind or character on the equity interests of any Subsidiary Bank or any such Subsidiary. Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary Bank or any such Subsidiary to sell, transfer, issue, reissue or exchange, or grant any option with respect to, any equity interests of any Subsidiary Bank or any such Subsidiary.

Subsidiary Shares. (a) The Borrower will not, directly or indirectly, authorize or issue, or permit any Subsidiary Bank to (i) authorize or issue, any new types, varieties or classes of equity interests of any such Subsidiary Bank or any Subsidiary of any Subsidiary Bankits Subsidiaries, either preferred or common, voting or nonvoting, or any bonds or debentures (subordinated or otherwise) convertible into any equity interests of any Subsidiary Bank or such Subsidiary, or any stock options or warrants, or (ii) authorize or issue any additional shares of any existing class of any equity interests of any such Subsidiary Bank or any such Subsidiaryof its Subsidiaries, or (iii) grant any Person other than the Lender any proxy for existing equity interests, or cause or allow or declare any stock splits of such Subsidiary Bank or any of its Subsidiaries, or (iv) take any other action which could, directly or indirectly, decrease Borrower’s ownership (alone or together with any of Borrower’s Subsidiaries) interest in any such Subsidiary Bank or any such Subsidiary of its Subsidiaries to a level below the percentage of equity interests Borrower holds in any such Subsidiary Bank or any such Subsidiary of its Subsidiaries as of the Effective Date. Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary Bank or any Subsidiary of any Subsidiary Bank to directly or indirectly create, assume, incur, suffer or permit to exist any pledge, encumbrance, security interest, assignment, Lien or charge of any kind or character on the equity interests of any such Subsidiary Bank or any such Subsidiaryof its Subsidiaries. Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary Bank or any such Subsidiary of its Subsidiaries to sell, transfer, issue, reissue or exchange, or grant any option with respect to, any equity interests of any such Subsidiary Bank or any of its Subsidiaries. (b) Solely as it relates to Section 7.11(a) above, Borrower irrevocably authorizes Lender to, and appoints the Lender as its attorney-in-fact to, execute on behalf of Borrower as debtor and file such Subsidiaryfinancing statements as Lender, at any time and from time to time in the sole discretion of the Lender, may deem necessary or desirable.

Subsidiary Shares. The Except as set forth in Schedule 7.11, the Borrower will not, directly or indirectly, authorize or issue, or permit any Subsidiary Bank to (i) authorize or issue, any new types, varieties or classes of equity interests of any such Subsidiary Bank or any Subsidiary of any Subsidiary Bankits Subsidiaries, either preferred or common, voting or nonvoting, or any bonds or debentures (subordinated or otherwise) convertible into any equity interests of any Subsidiary Bank or such Subsidiary, or any stock options or warrants, or (ii) authorize or issue any additional shares of any existing class of any equity interests of any such Subsidiary Bank or any such Subsidiaryof its Subsidiaries, or (iii) grant any Person other than the Lender any proxy for existing equity interests, or cause or allow or declare any stock splits of such Subsidiary Bank or any of its Subsidiaries, or (iv) take any other action which could, directly or indirectly, decrease Borrower’s ownership (alone or together with any of Borrower’s Subsidiaries) interest in any such Subsidiary Bank or any such Subsidiary of its Subsidiaries to a level below the percentage of equity interests Borrower holds in any such Subsidiary Bank or any such Subsidiary of its Subsidiaries as of the Effective Date. Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary Bank or any Subsidiary of any Subsidiary Bank to directly or indirectly create, assume, incur, suffer or permit to exist any pledge, encumbrance, security interest, assignment, Lien or charge of any kind or character on the equity interests of any such Subsidiary Bank or any such Subsidiaryof its Subsidiaries. Borrower shall not itself, nor shall it cause, permit or allow any Subsidiary Bank or any such Subsidiary of its Subsidiaries to sell, transfer, issue, reissue or exchange, or grant any option with respect to, any equity interests of any such Subsidiary Bank or any such Subsidiaryof its Subsidiaries.