Common use of Pledged Assets Clause in Contracts

Pledged Assets. (a) Each Credit Party will cause 100% of the Equity Interest in each of its direct or indirect Domestic Subsidiaries (unless such Domestic Subsidiary is owned by a Foreign Subsidiary) and 65% (to the extent the pledge of a greater percentage would be unlawful or would cause any materially adverse tax consequences to the Borrower or any Guarantor) of the voting Equity Interest and 100% of the non-voting Equity Interest of its first-tier Foreign Subsidiaries, in each case to the extent owned by such Credit Party, to be subject at all times to a first priority, perfected Lien in favor of the Administrative Agent pursuant to the terms and conditions of the Security Documents or such other security documents as the Administrative Agent shall reasonably request.

Pledged Assets. (a) Each Credit Party will cause 100% of the Equity Interest Capital Stock in each of its direct or indirect Domestic Subsidiaries that are Material Subsidiaries or Guarantors (unless such Domestic Subsidiary is owned by a Foreign Subsidiary) and 6566% (to the extent the pledge of a greater percentage would be unlawful or would cause any materially adverse tax consequences to the Borrower or any Guarantor) of the voting Equity Interest Capital Stock and 100% of the non-voting Equity Interest Capital Stock of its first-tier Foreign Subsidiaries that are Material Subsidiaries, in each case to the extent owned by such Credit Party, to be subject at all times to a first priority, perfected Lien in favor of the Administrative Agent pursuant to the terms and conditions of the Security Documents Pledge Agreement or such other security documents as the Administrative Agent shall reasonably request.

Pledged Assets. (a) Each Credit Party will cause 100% of the Equity Interest Capital Stock in each of its direct or indirect Domestic Subsidiaries (unless such Domestic Subsidiary is owned by a Foreign Subsidiary) and 65% (to the extent the pledge of a greater percentage would be unlawful or would cause any materially adverse tax consequences to the Borrower or any Guarantor) of the voting Equity Interest Capital Stock and 100% of the non-voting Equity Interest Capital Stock of its first-tier Foreign Subsidiaries, in each case to the extent owned by such Credit Party, to be subject at all times to a first priority, perfected Lien in favor of the Administrative Agent pursuant to the terms and conditions of the Security Documents or such other security documents as the Administrative Agent shall reasonably request.