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 Subsidiary to issue, assign, sell or transfer, any shares of capital stock of a Material Subsidiary; provided, however, that the foregoing shall not operate to prevent (i) the Lien on the capital stock of each Subsidiary granted to the Agent pursuant to the Collateral Documents, (ii) 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 (iii) any transaction permitted by Section 8.10(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary to issue, assign, sell or transfer, any shares of capital stock Equity Interests of a Material Subsidiary; provided, however, provided that the foregoing shall not operate to prevent (ia) the Lien Liens on the capital stock Equity Interests of each Subsidiary Subsidiaries granted to the Administrative Agent pursuant to the Collateral Documents, (iib) the issuance, sale sale, and transfer to any person 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 Person as a director of such Subsidiary, and (iiic) any transaction permitted by Section 8.10(c7.04(c) above.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary to issue, assign, sell or transfer, any shares of capital stock of a Material Subsidiary; provided, however, that the foregoing shall not operate to prevent (i) the Lien on the capital stock of each Subsidiary granted to the Agent pursuant to the Collateral Documents, (ii) 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 (iii) any transaction permitted by Section 8.10(c8.16(c) above.

Maintenance of Subsidiaries. The Borrower Company shall not assign, sell or transfer, nor shall it or permit any Subsidiary of its Subsidiaries to issue, assign, sell or transfer, any shares of capital stock of a Material Subsidiary; provided, however, that the foregoing shall not operate to prevent (iw) the Lien on the capital stock of each Subsidiary granted to the Agent pursuant to the Collateral Documents, (iix) 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 (iiiy) any transaction permitted by Section 8.10(c7.16(c) above, and (z) the issuance of capital stock of a Restricted Subsidiary if after giving effect to such issuance such Subsidiary remains a Restricted Subsidiary.

Maintenance of Subsidiaries. The Neither Holdings nor the Borrower shall not assign, sell or transfer, nor shall it they permit any Subsidiary to issue, assign, sell or transfer, any shares of capital stock or other equity interests of the Borrower or a Material SubsidiarySubsidiary of the Borrower; provided, however, that the foregoing shall not operate to prevent (i) the Lien on the capital stock of each Subsidiary granted to the Agent pursuant to the Collateral Documents, (iia) the issuance, sale sale, and transfer to any person of any shares of capital stock of the Borrower or 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 (iiib) any transaction permitted by Section 8.10(c8.10 above and (c) abovethe pledge of the Holding’s equity interest in the Borrower to secure Holding’s obligations under the Holdings’ Credit Facilities.

Maintenance of Subsidiaries. The Borrower Company shall not assign, sell or transfer, nor shall it or permit any Subsidiary of its Subsidiaries to issue, assign, sell or transfer, any shares of capital stock of a Material Subsidiary; provided, however, that the foregoing shall not operate to prevent (iw) the Lien on the capital stock of each Subsidiary granted to the Agent pursuant to the Collateral Documents, (iix) 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 (iiiy) any transaction permitted by Section 8.10(c7.15(c) above, and (z) the issuance of capital stock of a Restricted Subsidiary if after giving effect to such issuance such Subsidiary remains a Restricted Subsidiary.

Maintenance of Subsidiaries. The Borrower shall not assign, sell or transfer, nor shall it permit any Subsidiary Designated Company to issue, assign, sell or transfer, any shares of capital stock of a Material SubsidiaryDesignated Company; provided, however, that the foregoing shall not operate to prevent (ia) the Lien Liens on the capital stock of each Subsidiary Designated Companies granted to the Administrative Agent pursuant to the Collateral Documents, (iib) the issuance, sale and transfer to any person of any shares of capital stock of a Subsidiary the Borrower solely for the purpose of qualifying, and to the extent legally necessary to qualify, such person as a director of such Subsidiary, the Borrower and (iiic) any transaction permitted by Section 8.10(c8.10(b) above.