Common use of Pledge of Equity in Unrestricted Subsidiaries Clause in Contracts

Pledge of Equity in Unrestricted Subsidiaries. Each Borrower agrees to pledge (or cause its Restricted Domestic Subsidiaries to pledge) all of the Capital Stock owned by such Borrower or its Restricted Subsidiaries of each new Unrestricted Subsidiary established or created after the Closing Date to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement other than a Foreign Subsidiary with Consolidated Total Assets of $1,000,000 or less as long as the Consolidated Total Assets of all Foreign Subsidiaries owned directly by such Borrower or its Restricted Domestic Subsidiaries the Capital Stock of which is not pledged hereunder, does not exceed in the aggregate $10,000,000; PROVIDED that the pledge of the Capital Stock or Loan Stock of any new Unrestricted Subsidiary which is a Foreign Subsidiary shall, (i) only be required to the extent owned by such Borrower or its Restricted Domestic Subsidiaries, (ii) be limited to 65% of the Capital Stock (or Loan Stock) of such Foreign Subsidiary and (iii) any filings or recordations with respect to Foreign Subsidiaries will be made (or submitted for recordation) within 10 Business Days of the acquisition thereof or such longer period as the Administrative Agent may approve. Each Borrower agrees to pledge, or cause its Restricted Subsidiaries to pledge, to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to a Borrower or any Restricted Domestic Subsidiary.

Pledge of Equity in Unrestricted Subsidiaries. Each Borrower agrees to pledge (or cause its Restricted Domestic Subsidiaries to pledge) all of the Capital Stock owned by such Borrower or its a Restricted Subsidiaries Subsidiary of each new Unrestricted Subsidiary established or created after the Closing Date to the Collateral Agent for the benefit of the Secured Parties secured parties pursuant to the Security Agreement other than a Foreign Subsidiary with Consolidated Total Assets of $1,000,000 or less as long as the Consolidated Total Assets of all Foreign Subsidiaries owned directly by such Borrower or its Restricted Domestic Subsidiaries the Capital Stock of which is not pledged hereunder, does not exceed in the aggregate $10,000,000; PROVIDED provided that the pledge of the Capital Stock or Loan Stock of any new Unrestricted Subsidiary which is a Foreign Subsidiary shall, (i) only be required to the extent owned by such Borrower or its Restricted Domestic Subsidiaries, (ii) be limited to 65% of the Capital Stock (or Loan Stock) of such Foreign Subsidiary and (iii) any filings or recordations with respect to Foreign Subsidiaries will be made (or submitted for recordation) within 10 Business Days of the acquisition thereof or such longer period as the Administrative Agent may approve. Each Borrower agrees to pledge, or cause its Restricted Subsidiaries to pledge, to the Collateral Agent for the benefit of the Secured Parties secured parties pursuant to the Security Agreement all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to a Borrower or any Restricted Domestic Subsidiary.

Pledge of Equity in Unrestricted Subsidiaries. Each Borrower agrees to pledge Pledge (or cause its Restricted Domestic Subsidiaries to pledge) all of the Capital Stock owned by such Borrower or its Restricted Subsidiaries of each new Unrestricted Subsidiary established or created after the Closing Date to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement Documents other than a Foreign Subsidiary with Consolidated Total Assets of $1,000,000 or less as long as the Consolidated Total Assets of all Foreign Subsidiaries owned directly by such Borrower or its Restricted Domestic Subsidiaries the Capital Stock of which is not pledged hereunder, does not exceed in the aggregate $10,000,000; PROVIDED provided that the pledge of the Capital Stock or Loan Stock of any new Unrestricted Subsidiary which is a Foreign Subsidiary shall, (i) only be required to the extent owned by such Borrower or its Restricted Domestic Subsidiaries, (ii) be limited to 65% of the Capital Stock (or Loan Stock) of such Foreign Subsidiary and (iii) any filings or recordations with respect to Foreign Subsidiaries will be made (or submitted for recordation) within 10 Business Days of the acquisition thereof or such longer period as the Administrative Agent may approve. Each Borrower agrees to pledge, or cause its Restricted Subsidiaries to pledge, to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement Documents all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to a Borrower or any Restricted Domestic Subsidiary.

Pledge of Equity in Unrestricted Subsidiaries. Each Borrower agrees to pledge (or cause its Restricted Domestic Subsidiaries to pledge) all of the Capital Stock owned by such Borrower or its a Restricted Subsidiaries Subsidiary of each new Unrestricted Subsidiary established or created after the Closing Date to the Collateral Agent for the benefit of the Secured Parties secured parties pursuant to the Security Agreement other than a Foreign Subsidiary with Consolidated Total Assets of $1,000,000 or less as long as the Consolidated Total Assets of all Foreign Subsidiaries owned directly by such Borrower or its Restricted Domestic Subsidiaries the Capital Stock of which is not pledged hereunder, does not exceed in the aggregate $10,000,000; PROVIDED that the pledge of the Capital Stock or Loan Stock of any new Unrestricted Subsidiary which is a Foreign Subsidiary shall, (i) only be required to the extent owned by such Borrower or its Restricted Domestic Subsidiaries, (ii) be limited to 65% of the Capital Stock (or Loan Stock) of such Foreign Subsidiary and (iii) any filings or recordations with respect to Foreign Subsidiaries will be made (or submitted for recordation) within 10 Business Days of the acquisition thereof or such longer period as the Administrative Agent may approve. Each Borrower agrees to pledge, or cause its Restricted Subsidiaries to pledge, to the Collateral Agent for the benefit of the Secured Parties secured parties pursuant to the Security Agreement all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to a Borrower or any Restricted Domestic Subsidiary.

Pledge of Equity in Unrestricted Subsidiaries. Each Borrower agrees to pledge (or cause its Restricted Domestic Subsidiaries to pledge) all of the Capital Stock owned by such Borrower or its Restricted Subsidiaries of each new Unrestricted Subsidiary established or created after the Closing Date to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement other than a Foreign Subsidiary with Consolidated Total Assets of $1,000,000 or less as long as the Consolidated Total Assets of all Foreign Subsidiaries owned directly by such Borrower or its Restricted Domestic Subsidiaries the Capital Stock of which is not pledged hereunder, does not exceed in the aggregate $10,000,000; PROVIDED provided that the pledge of the Capital Stock or Loan Stock of any new Unrestricted Subsidiary which is a Foreign Subsidiary shall, (i) only be required to the extent owned by such Borrower or its Restricted Domestic Subsidiaries, (ii) be limited to 65% of the Capital Stock (or Loan Stock) of such Foreign Subsidiary and (iii) any filings or recordations with respect to Foreign Subsidiaries will be made (or submitted for recordation) within 10 Business Days of the acquisition thereof or such longer period as the Administrative Agent may approve. Each Borrower agrees to pledge, or cause its Restricted Subsidiaries to pledge, to the Collateral Agent for the benefit of the Secured Parties pursuant to the Security Agreement all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to a Borrower or any Restricted Domestic Subsidiary.

Pledge of Equity in Unrestricted Subsidiaries. Each Borrower agrees to pledge (or cause its Restricted Domestic Subsidiaries to pledge) all of the Capital Stock owned by such Borrower or its a Restricted Subsidiaries Subsidiary of each new Unrestricted Subsidiary established or created after the Closing Date to the Collateral Agent for the benefit of the Secured Parties secured parties pursuant to the Security Agreement Documents other than a Foreign Subsidiary with Consolidated Total Assets of $1,000,000 or less as long as the Consolidated Total Assets of all Foreign Subsidiaries owned directly by such Borrower or its Restricted Domestic Subsidiaries the Capital Stock of which is not pledged hereunder, does not exceed in the aggregate $10,000,000; PROVIDED provided that the pledge of the Capital Stock or Loan Stock of any new Unrestricted Subsidiary which is a Foreign Subsidiary shall, (i) only be required to the extent owned by such Borrower or its Restricted Domestic Subsidiaries, (ii) be limited to 65% of the Capital Stock (or Loan Stock) of such Foreign Subsidiary and (iii) any filings or recordations with respect to Foreign Subsidiaries will be made (or submitted for recordation) within 10 Business Days of the acquisition thereof or such longer period as the Administrative Agent may approve. Each Borrower agrees to pledge, or cause its Restricted Subsidiaries to pledge, to the Collateral Agent for the benefit of the Secured Parties secured parties pursuant to the Security Agreement Documents all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to a Borrower or any Restricted Domestic Subsidiary.