Capital Securities of Subsidiaries. No Grantor will allow any of its Subsidiaries: (a) [Omitted]; (b) that is a partnership or limited liability company, to (i) issue Capital Securities that are to be dealt in or traded on securities exchanges or in securities markets, (ii) expressly provide in its Organic Documents that its Capital Securities are securities governed by Article 8 of the UCC, or (iii) place such Subsidiary’s Capital Securities in a Securities Account; and (c) to issue Capital Securities in addition to or in substitution for the Capital Securities pledged hereunder, except to such Grantor (and such Capital Securities are immediately pledged and delivered to the Lender pursuant to the terms of this Security Agreement).
Appears in 9 contracts
Samples: Credit Agreement (Natera, Inc.), Pledge and Security Agreement (Natera, Inc.), Credit Agreement (Natera, Inc.)
Capital Securities of Subsidiaries. No Grantor will allow any of its Subsidiaries:Subsidiaries (including the Borrower):
(a) [Omitted]that is a corporation, business trust, joint stock company or similar Person, to issue Uncertificated Securities;
(b) that is a partnership or limited liability company, to (i) issue Capital Securities that are to be dealt in or traded on securities exchanges or in securities markets, (ii) expressly provide in its Organic Documents that its Capital Securities are securities governed by Article 8 of the UCC, or (iii) place such Subsidiary’s Capital Securities in a Securities Account; and
(c) to issue Capital Securities in addition to or in substitution for the Capital Securities pledged hereunder, except to such Grantor (and such Capital Securities are immediately pledged and delivered to the Lender pursuant to the terms of this Security Agreement).
Appears in 5 contracts
Samples: Credit Agreement (Recro Pharma, Inc.), Pledge and Security Agreement (Unilife Corp), Credit Agreement (Unilife Corp)
