Common use of Restricted and Unrestricted Subsidiaries Clause in Contracts

Restricted and Unrestricted Subsidiaries. (a) The Board of Directors may designate any Subsidiary of the Company or any Restricted Subsidiary to be an Unrestricted Subsidiary if (i) the Subsidiary to be so designated does not own any Capital Stock, Redeemable Stock or Indebtedness of, or own or hold any Lien on any property or assets of, the Company or any other Restricted Subsidiary, (ii) the Subsidiary to be so designated is not obligated by any Indebtedness or Lien that, if in default, would result (with the passage of time or notice or otherwise) in a default on any Indebtedness of the Company or any Restricted Subsidiary, and (iii) either (A) the Subsidiary to be so designated has total assets of $1,000 or less or (B) such designation is effective immediately upon such Person becoming a Subsidiary of the Company or of a Restricted Subsidiary. Unless so designated as an Unrestricted Subsidiary, any Person that becomes a Subsidiary of the Company or any Restricted Subsidiary shall be classified as a Restricted Subsidiary. Except as provided in the first sentence of this paragraph (a), no Restricted Subsidiary shall be redesignated as an Unrestricted Subsidiary. Subject to Section 4.15(b), an Unrestricted Subsidiary shall not be redesignated as a Restricted Subsidiary. Any such designation by the Board of Directors shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the Board Resolution giving effect to such designation and an Officers' Certificate certifying that such designation complies with the foregoing provisions.

Restricted and Unrestricted Subsidiaries. (a) The Board of Directors Company may designate any a Subsidiary (including a newly formed or newly acquired Subsidiary) of the Company or any of its Restricted Subsidiary to be Subsidiaries as an Unrestricted Subsidiary if (i) the such Subsidiary to be so designated does not own any Capital Stock, Redeemable Stock or Indebtedness of, or own or hold any Lien on any property or assets of, the Company or any other Restricted Subsidiary, (ii) the Subsidiary to be so designated is not obligated by any Indebtedness or Lien that, if in default, would result (with the passage of time or notice or otherwise) in a default on any Indebtedness of the Company or any Restricted Subsidiary, and (iii) either (A) the Subsidiary to be so designated has total assets of $1,000 or less less, or (Bii) such designation is effective immediately upon such Person becoming a Subsidiary of either the Company or any of a its Restricted SubsidiarySubsidiaries. Unless so designated as an Unrestricted Subsidiary, any Person that becomes a Subsidiary of the Company or any of its Restricted Subsidiary Subsidiaries shall be classified as a Restricted SubsidiarySubsidiary thereof. Except as provided in clause (i) of the first sentence of this paragraph (a)Section 311, no Restricted Subsidiary shall may be redesignated as an Unrestricted Subsidiary. Subject to Section 4.15(b311(b), an Unrestricted Subsidiary shall not may be redesignated as a Restricted Subsidiary. Any The designation of an Unrestricted Subsidiary or the removal of such designation in compliance with Section 311(b) shall be made by the Board of Directors shall be evidenced pursuant to a Certified Resolution delivered to the Trustee by promptly filing with the Trustee a copy and shall be effective as of the Board date specified in the applicable Certified Resolution, which shall not be prior to the date such Certified Resolution giving effect is delivered to such designation and an Officers' Certificate certifying that such designation complies with the foregoing provisionsTrustee.

Restricted and Unrestricted Subsidiaries. (a) The Board of Directors of the Company may designate any Subsidiary of the Company or any Restricted Subsidiary to be an Unrestricted Subsidiary if (ia) the Subsidiary to be so designated does not own any Capital Stockcapital stock, Redeemable Stock redeemable stock or Indebtedness Total Debt of, or own or hold any Lien on any property or assets of, the Company or any other Restricted SubsidiarySubsidiary of the Company, (iib) the Subsidiary to be so designated is not obligated by any Indebtedness Total Debt or Lien that, if in default, would result (with the passage of time or notice or otherwise) in a default on any Indebtedness Total Debt of the Company or any Restricted Subsidiary, and (iiic) either (A) the Subsidiary to be so designated has total assets of $1,000 or less less, or (B) such designation is effective immediately upon such Person Person's becoming a Subsidiary of the Company or of a Restricted Subsidiary. Unless so designated as an Unrestricted Subsidiary, any Person that becomes a Subsidiary of the Company or any Restricted Subsidiary shall will be classified as a Restricted Subsidiary. Except as provided in the first sentence of this paragraph (a)SECTION 9.12, no Restricted Subsidiary shall may be redesignated as an Unrestricted Subsidiary. Subject to Section 4.15(b), an An Unrestricted Subsidiary shall may not be redesignated as a Restricted Subsidiary. Any such designation by the Board of Directors shall of the Company will be evidenced to the Trustee Agent by promptly filing with the Trustee Agent a copy of the resolution of such Board Resolution giving effect to such designation and an Officers' Officer's Certificate certifying that such designation complies with the foregoing provisionsthis SECTION 9.12.

Restricted and Unrestricted Subsidiaries. (a) The Board of Directors may designate any Subsidiary of the Company may designate or redesignate any Restricted Subsidiary to be an Unrestricted Subsidiary if (i) the Subsidiary to be so designated does not not, directly or indirectly, own any Capital Stock, Redeemable Stock or Indebtedness of, or own or hold any Lien on any property or assets of, the Company or any other Restricted Subsidiary, (ii) the Subsidiary to be so designated is not obligated by any Indebtedness or Lien that, if in default, would result (with the passage of time or notice or otherwise) in a default on any Indebtedness of the Company or any Restricted Subsidiary, Subsidiary and (iii) either (Aa) the Subsidiary to be so designated has total assets of $1,000 or less or (Bb) such designation is effective immediately upon such Person becoming a Subsidiary of the Company or of a Restricted SubsidiarySubsidiary and the amount of the Investment by the Company or any of its Restricted Subsidiaries in such Subsidiary would be permitted under Section 4.10. Unless so designated as an Unrestricted Subsidiary, any Person that becomes a Subsidiary of the Company or any Restricted Subsidiary shall will be classified as a Restricted Subsidiary. Except as provided in the first sentence of this paragraph (a)paragraph, no Restricted Subsidiary shall may be redesignated as an Unrestricted Subsidiary. Subject to Section 4.15(b)the next paragraph, an Unrestricted Subsidiary shall may not be redesignated as a Restricted Subsidiary. Any such designation by the Board of Directors shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the Board Resolution giving effect to such designation and an Officers' Certificate certifying that such designation complies with the foregoing provisions.