Common use of Maintenance of Subsidiaries Clause in Contracts

Maintenance of Subsidiaries. The Borrower shall not assign, sell, or transfer, nor shall it permit any of its Subsidiaries to issue, assign, sell, or transfer, any shares of capital stock of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise); provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock of Subsidiaries granted to the Administrative Agent pursuant to the Collateral Documents, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) any transaction permitted by Section 8.10(c) above.

Maintenance of Subsidiaries. The None of the Parent or any Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to the Administrative Agent pursuant to the Collateral Documents, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) any transaction permitted by Section 8.10(c8.10(b), (c), (h), (n) or (o) above.

Maintenance of Subsidiaries. The TheNeither the Borrower nor PROP shall not assign, sell, sell or transfer, nor shall it itany such Person permit any of its Subsidiaries Material Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Material Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Material Subsidiaries granted to the Administrative Agent pursuant to the Collateral DocumentsAgent, (b) the issuance, sale, sale and transfer to any person of any shares of capital stock of a Material Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) with respect to the Borrower, any transaction permitted by Section 8.10(c8.9(b) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to the Administrative Agent pursuant to the Collateral DocumentsDocuments and the documents securing the Senior Notes, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) any transaction permitted by Section 8.10(c) above.

Maintenance of Subsidiaries. The Borrower Company shall not assign, sell, sell or transfer, nor shall it or permit any of its Subsidiaries Banking Subsidiary to issue, assign, sell, sell or transfer, or amend the terms and conditions applicable to any shares of capital stock of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Banking Subsidiary; provided, however, provided that the foregoing shall not operate to prevent (a) Liens on the issuance of additional shares of capital stock of Subsidiaries granted a Banking Subsidiary to the Administrative Agent pursuant Company and which are made subject to the Lien of the Collateral Documents, documents in favor of the Agent and (b) the issuance, sale, sale and transfer to any person of any shares of capital stock of a Banking Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Banking Subsidiary, and (c) any transaction permitted by Section 8.10(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, provided that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to Collateral Agent on behalf of the Administrative Agent Lenders pursuant to the Collateral Documents, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, Subsidiary and (c) any transaction permitted by Section 8.10(c7.4(d) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to the Administrative Senior Agent pursuant to the Collateral DocumentsSenior Credit Agreement or the collateral documents related thereto, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, Subsidiary and (c) any transaction permitted by Section 8.10(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to the Administrative Agent pursuant to the Collateral Documents or granted to the First Lien Agent pursuant to the First Lien Security Documents, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) any transaction permitted by Section Sections 8.10(c) and (g) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to the Administrative Supplemental DIP Collateral Agent pursuant to the Collateral Security Documents, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) any transaction permitted by Section 8.10(c) 7.6 above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell, sell or transfer, nor shall it permit any of its Subsidiaries Subsidiary to issue, assign, sell, sell or transfer, any shares of capital stock or other equity interests of a Subsidiary (or any direct or indirect interest therein, whether by options, warrants, or otherwise)Subsidiary; provided, however, that the foregoing shall not operate to prevent (a) Liens on the capital stock or other equity interests of Subsidiaries granted to the Administrative Agent pursuant to the Collateral Documents or granted to the Second Lien Agent pursuant to the Second Lien Security Documents, (b) the issuance, sale, and transfer to any person of any shares of capital stock of a Subsidiary solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, and (c) any transaction permitted by Section Sections 8.10(c) and (g) above.