Activities of the Parent. Without limiting the effect of any provision contained in this Article VIII and notwithstanding any implication to the contrary hereunder, the Parent will not engage in any business activity other than (i) its ownership of all the shares of Capital Stock of the Subsidiary Borrowers, RCFC, Dollar Thrifty Funding and any other Person that may become a direct Subsidiary of the Parent in accordance with the provisions hereof to the extent such Person does not conduct a business activity which is one of the principal business activities conducted by Dollar or Thrifty on the date hereof, (ii) its compliance with the obligations applicable to it under the Loan Documents, the Chrysler Credit Support Documents, the MTN Program Documents and the CP Program Documents and (iii) the execution and delivery of guaranties of (A) obligations of Subsidiary Borrowers or Subsidiary Guarantors in respect of the leasing by such Obligors of real or personal property under arrangements which would not, under GAAP, be classified as capitalized leases and (B) other obligations of such Obligors in an aggregate amount not exceeding $20,000,000 at any time. Without limiting the generality of the immediately preceding sentence, the Parent will not (a) create, incur, assume or suffer to exist any Indebtedness (other than Indebtedness under this Agreement or any other Loan Document, any Chrysler Credit Support Document, any such guaranty any Demand Capitalization Note, any intercompany Indebtedness pursuant to clause (o) of Section 8.2.2 or any Subordinated Debt pursuant to clause (u) of Section 8.2.2), (b) create, assume, or suffer to exist any Lien upon, or grant any options or other rights with respect to, any of its revenues, property or other assets, whether now owned or hereafter acquired (other than pursuant to the Loan Documents, the Chrysler Credit Support Documents or any intercompany Indebtedness described in clause (i) of Section 8.2.3), (c) wind-up, liquidate or dissolve itself (or suffer to exist any of the foregoing), or consolidate or amalgamate with or merge into or with any other Person, or convey, sell, transfer, lease or otherwise dispose of all or any part of its assets, in one transaction or a series of transactions, to any Person or Persons, (d) create, incur, assume or suffer to exist any Investment in any Person other than (i) as provided in clause (a), (b), (g) or (j) of Section 8.2.5 and (ii) in respect of any additional equity Investments in a Subsidiary Borro...
Activities of the Parent. The Parent will not (a) have any direct Subsidiaries other than the Company, NGL Energy Finance Corp., NGL Energy GP LLC and NGL Energy Equipment LLC, (b) own any Equity Interests other than the Equity Interests in the Company, NGL Energy Finance Corp., NGL Energy GP LLC and NGL Energy Equipment LLC or (c) enter into any business or take any action that would cause the Parent to fail to qualify as a master limited partnership.
Activities of the Parent. Notwithstanding anything to the contrary contained herein, the Parent shall not engage in any business or other activity other than (i) owning the Capital Securities of the Borrower, (ii) performing its Obligations under the Loan Documents (including Article VII), (iii) performing its obligations under the 2009 Notes and the 2009 Notes Indenture and (iv) executing and delivering, and performing its obligations under, guarantees that it is permitted to incur or maintain under this Agreement, and, in the case of each of clauses (i), (ii), (iii) and (iv) activities reasonably related thereto.
Activities of the Parent. Prior to the Merger, and notwithstanding any other provisions of this Agreement, the Parent will not engage in any business activity other than its continuing ownership of the Shares of capital stock of the Borrower and its compliance with the obligations applicable to it under the Loan Documents. Without limiting the generality of the immediately preceding sentence, the Parent will not (a) create, incur, assume or suffer to exist any Indebtedness (other than Indebtedness in respect of the guaranty contained in Article IX and the Indebtedness described in Section 7.2.2), (b) create, assume, or suffer to exist any Lien upon, or grant any options or other rights with respect to, any of its revenues, property or other assets, whether now owned or hereafter acquired (other than pursuant to the Loan Documents), (c) wind-up, liquidate or dissolve itself (or suffer to exist any of the foregoing), consolidate or amalgamate with or merge into or with any other Person, issue stock, or convey, sell, transfer, lease or otherwise dispose of all or any part of its assets, in one transaction or a series of transactions, to any Person or Persons, (d) create, incur, assume or suffer to exist any Investment in any Person other than (i) as provided in clause (a) of Section 7.2.5 and (ii) in respect of any additional equity Investments in the Borrower or (e) permit to be taken any action that would result in a Change in Control. The Parent agrees not to commence or cause the commencement of any of the actions described in clause (b), (c) or (d) of Section 8.1.9 of this Agreement with respect to any of its Subsidiaries.
Activities of the Parent. Cause or permit the Parent to engage in any material business, activity or operations other than (a) owning or holding the Capital Stock of its Subsidiaries, (b) managing its investments in its Subsidiaries, (c) executing and delivering the Loan Documents, (d) lending and borrowing Intercompany Indebtedness in accordance with all applicable provisions hereof and of the Subordination Agreement and (e) providing corporate overhead and other administrative functions similar to those provided by the Parent on the Closing Date.
Activities of the Parent. The Parent shall not (a) hold or incur any Indebtedness (other than Permitted Parent Debt), (b) grant any Liens (other than Permitted Parent Liens) upon any of its properties or assets or (c) engage in any operations, business or activity other than (i) holding the Capital Stock of its Subsidiaries, (ii) issuing its Capital Stock and making dividends and other distributions on its Capital Stock, and (iii) administrative activities in the ordinary course of business.
Activities of the Parent. Notwithstanding anything to the contrary contained herein, the Parent shall not, at any time, engage in any business or other activity, incur any other Indebtedness or make any Investment or Capital Expenditure other than: (a) owning the Capital Securities or other Investments in the Borrower, (b) performing its Obligations under 106 the Loan Documents (including Article VII), (c) activities and expenditures specifically permitted in the DIP Approved Budget, (d) maintaining its corporate existence, and (e) participating in tax, accounting and other administrative activities of the Obligors, and necessary activities incidental to the businesses and activities described in subparagraphs (a) — (e).
Activities of the Parent. The Parent will not engage in any business or activity other than (i) the direct or indirect ownership of all the outstanding Equity Interests of its Subsidiaries, (ii) maintaining its corporate existence, (iii) participating in tax, accounting and other administrative activities as part of a consolidated group of companies including the Loan Parties or other Subsidiaries of Parent, (iv) the performance of obligations under the Loan Documents to which it is a party, (v) making and receiving Investments and Restricted Payments to the extent permitted by Section 7.03 and Section 7.06, (vi) incurring and guaranteeing any Indebtedness, but only to the extent that such Indebtedness would be permitted to be incurred or guaranteed by the Loan Parties and the other Restricted Subsidiaries under Section 7.03, (vii) establishing and maintaining bank accounts, (viii) entering into employment arrangements with officers and directors, (ix) engaging in any sale or offering of its Equity Interests (or its direct or indirect parent) not prohibited hereunder, (x) engaging in any activities incidental to compliance with the provisions of the Securities Laws and similar laws and regulations of other jurisdictions and the rules of securities exchanges, in each case, as applicable to companies with listed equity or debt securities, as well as activities incidental to investor relations, shareholder meetings and reports to shareholders or debt-holders, (xi) guaranteeing ordinary course obligations incurred by any Restricted Subsidiaries and (xii) activities incidental to the businesses or activities described in clauses (i) through (xi).
Activities of the Parent. Without limiting the effect of any provision contained in this Article VII, the Parent will not engage in any business activity other than its continuing ownership of all the shares of capital stock of the Borrower and Petroleum and its compliance with the obligations applicable to it under the Loan Documents. Without limiting the generality of the immediately preceding sentence, the Parent will not (a) create, incur, assume or suffer to exist any Indebtedness (other than Indebtedness in respect of the guaranty contained in Article IX), (b) create, assume, or suffer to exist any Lien upon, or grant any options or other rights with respect to, any of its revenues, property or other assets, whether now owned or hereafter acquired (other than pursuant to the Loan Documents), (c) wind-up, liquidate or dissolve itself (or suffer to exist any of the foregoing), consolidate or amalgamate with or merge into or with any other Person, or convey, sell, transfer, lease or otherwise dispose of all or any part of its assets, in one transaction or a series of transactions, to any Person or Persons, (d) create, incur, assume or suffer to exist any Investment in any Person other than (i) as provided in clause (a) of Section 7.2.5 and (ii) in respect of any additional equity Investments in the Borrower or (e) permit to be taken any action that would result in a Change in Control. The Parent agrees not to commence or cause the commencement of any of the actions described in clause (b), (c) or (d) of Section 8.1.9 of this Agreement with respect to any of its Subsidiaries.
Activities of the Parent. The Parent shall not engage in any trade or business, own any assets, conduct any activity which is inconsistent with activities which are normal and customary for a publicly held holding company or directly or indirectly, beneficially or otherwise, hold or own (whether pursuant to an Asset Swap or otherwise) any Capital Stock or other securities of any Person, issue or incur any Indebtedness or effect any Equity Issuances, except that the Parent may (a) hold and own the Capital Stock of the Borrower and, indirectly, any other Person that is either a Subsidiary of the Borrower or an Excluded Subsidiary which is a subsidiary of the Borrower, (b) make Investments permitted under §10.3 hereof which are held by the Borrower or any of its Subsidiaries, (c) incur Indebtedness in respect of the Obligations and the Indebtedness evidenced by the Senior Discount Notes, (d) incur Indebtedness on or after the Funding Date, provided that (i) the material terms of such Indebtedness shall be substantially similar or less restrictive than the terms of the Senior Discount Notes and the maturity date of such new Indebtedness shall be at least six (6) months after the later of (x) the Tranche B Maturity Date and (y) the maturity date of any new Tranches established prior to the issuance of such new Indebtedness pursuant to §15.1, in each case as reasonably determined by the Administrative Agent (it being understood that such new Indebtedness shall not be deemed more restrictive than the Senior Discount Notes solely because it might bear interest at a higher rate than the rate applicable to the Senior Discount Notes), and (ii) contemporaneously with the receipt by the Parent of cash proceeds from the issuance of any such new Indebtedness, the Parent shall either (I) apply the net cash proceeds received by the Parent from such issuance (net of costs and expenses incurred in connection with such issuance and net of any amounts applied to refinance the Senior Discount Notes) in accordance with §4.4, or (II) make an equity contribution to the Borrower in an amount equal to such net cash proceeds, the amount of such equity contribution to be applied by the Borrower in accordance with §4.3, and (e) issue any Capital Stock or other Equity-Like Instrument if issued in accordance with §10.14(ii).
