Common use of Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries Clause in Contracts

Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. The Company will not, and will not permit any Restricted Subsidiary, directly or indirectly, to issue, transfer, convey, sell, lease or otherwise dispose of any shares of Capital Stock (including options, warrants or other rights to purchase shares of such Capital Stock) of such Restricted Subsidiary or any other Restricted Subsidiary to any Person (other than (i) to the Company or a Wholly Owned Restricted Subsidiary, (ii) issuances of director's qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, in each case, to the extent required by applicable law and (iii) Strategic Minority Capital Stock Issues), unless (A) immediately after giving effect to such issuance, transfer, conveyance, sale, lease or other disposition, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary and (B) any Investment in such Person remaining after giving effect to such issuance, transfer, conveyance, sale, lease or other disposition would have been permitted to be made under Section 4.3 if made on the date of such issuance, transfer, conveyance, sale, lease or other disposition (valued as provided in the definition of "Investment" in Section 1.1).

Appears in 4 contracts

Samples: Indenture (Versatel Telecom International N V), Indenture (Versatel Telecom International N V), Indenture (Versatel Telecom International N V)

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Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. The Company will notand the Parent Guarantor jointly and severally agree that the Company and the Parent Guarantor shall not sell, and will shall not permit any Restricted SubsidiarySubsidiary of either the Company or the Parent Guarantor, directly or indirectly, to issue, transfer, convey, issue or sell, lease or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) of such Restricted Subsidiary or any other Restricted Subsidiary to any Person (other than except (i) to the Company Company, the Parent Guarantor or a Wholly Owned Restricted Subsidiary, ; (ii) issuances of director's ’s qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, in each case, to the extent required by applicable law and law; (iii) Strategic Minority Capital Stock Issues)if, unless (A) immediately after giving effect to such issuance, transfer, conveyance, issuance or sale, lease or other disposition, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary and (B) any Investment in such Person remaining after giving effect to such issuance, transfer, conveyance, sale, lease issuance or other disposition sale would have been permitted to be made under Section 4.3 4.04 if made on the date of such issuanceissuance or sale; or (iv) issuances or sales of Common Stock of a Restricted Subsidiary; provided, transferhowever, conveyancethat the Company or such Restricted Subsidiary applies the Net Cash Proceeds, saleif any, lease or other disposition (valued as provided of any such sale in the definition of "Investment" in compliance with Section 1.1)4.11.

Appears in 3 contracts

Samples: Indenture (Time Warner Telecom Inc), Indenture (Time Warner Telecom Inc), Time Warner Telecom Inc

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