Permitted Subsidiaries. Notwithstanding any other provision of this Indenture, the Loan Obligation Manager on behalf of the Issuer shall be permitted to sell to a Permitted Subsidiary at any time any Sensitive Asset for consideration consisting entirely of the equity interests of such Permitted Subsidiary (or for an increase in the value of equity interests already owned). The Trustee shall, upon receipt of an Issuer Order certifying that the sale of a Sensitive Asset is being made in accordance with satisfaction of all requirements of this Indenture, release such Sensitive Asset and shall deliver such Sensitive Asset as specified in such Issuer Order. The following provisions shall apply to all Sensitive Assets and Permitted Subsidiaries:
Permitted Subsidiaries save as the Majority Lenders may otherwise agree (such agreement not to be unreasonably withheld) ensure that any Permitted Subsidiaries operate their respective businesses in a proper and efficient manner and in accordance with the principles set out in Schedule 11 (Financing of the Subsidiaries);
Permitted Subsidiaries. Notwithstanding any other provision of this Indenture and Credit Agreement, the Issuer shall, following delivery of an Issuer Order to the parties hereto, be permitted to sell to a Permitted Subsidiary at any time any Sensitive Asset for consideration consisting entirely of the equity interests of such Permitted Subsidiary (or for an increase in the value of equity interests already owned). Such Issuer Order shall certify that the sale of a Sensitive Asset is being made in accordance with satisfaction of all requirements of this Indenture and Credit Agreement. The Custodian shall, upon receipt of a Request for Release with respect to a Sensitive Asset, release such Sensitive Asset and shall deliver such Sensitive Asset as specified in such Request for Release. The following provisions shall apply to all Sensitive Asset and Permitted Subsidiaries:
Permitted Subsidiaries. The Borrower will not, and will not permit any of its Subsidiaries to, enter into any partnership (other than a partnership that is a Permitted Subsidiary) or joint venture.
Permitted Subsidiaries. All of the documents required in Section 3.1 for Initial Subsidiaries shall have been received by Agent as to any additional Permitted Subsidiaries, within the time required in this Agreement.
Permitted Subsidiaries. (A) Notwithstanding anything contained herein to the contrary, Borrowers shall be permitted to form one or more Subsidiaries without Lender’s consent, provided that any such Subsidiary becomes an Additional Borrower in accordance with the applicable terms of this Loan Agreement (each, a “Permitted Subsidiary”) and subject to satisfaction of the conditions set forth in this Section 14.24.
Permitted Subsidiaries. The Issuer shall neither establish nor ---------------------- maintain any Subsidiaries other than the Permitted Subsidiaries and, notwithstanding anything in Section 5.1(c) or 5.1(d) to the contrary, shall -------------- ------ cause each Permitted Subsidiary not to engage in any business or activity, directly or indirectly, except for the businesses and activities in which such Permitted Subsidiary is engaged on the Closing Date.
Permitted Subsidiaries. Section 1.1 of the Financing Agreement is hereby amended to add a new defined term “Permitted Subsidiaries” to read as follows:
Permitted Subsidiaries. Notwithstanding anything else in this Agreement to the contrary, the Company will not at any time have any Subsidiary that is not a Permitted Subsidiary.
Permitted Subsidiaries. Borrower agrees (a) that, collectively, all Subsidiaries that have not entered into a Joinder Agreement shall (A) not hold any assets not held as of the Closing Date or incur any liabilities not incurred as of the Closing Date and (B) not generate or account for any revenue and (b) to dissolve each Subsidiary existing on the Closing Date that has not entered into a Joinder Agreement by the Dissolution Date; provided that if any such Subsidiary is not dissolved by the Dissolution Date (subject to any extensions permitted in that definition), such Subsidiary shall execute a Joinder Agreement and become a co-borrower hereunder.
