Ownership of APS. Except to the extent permitted under Section 5.02(b), the Borrower will at all times continue to own directly or indirectly at least 80% of the outstanding capital stock of APS.
Appears in 9 contracts
Samples: Year Credit Agreement (Arizona Public Service Co), Assignment and Assumption (Arizona Public Service Co), Assignment and Assumption (Arizona Public Service Co)
Ownership of APS. Except to the extent permitted under Section 5.02(b), the Borrower will at all times continue to own directly or indirectly at least 80% of the outstanding capital stock of APS.
Appears in 3 contracts
Samples: Term Loan Agreement (Arizona Public Service Co), Term Loan Agreement (Pinnacle West Capital Corp), Credit Agreement (Pinnacle West Capital Corp)
Ownership of APS. Except to the extent permitted under Section 5.02(b)6.7, the Borrower will at all times continue to own directly or indirectly at least 80% of the outstanding capital stock of APS.
Appears in 1 contract
