Conduct of Business By Holdings. Holdings shall (i) engage in any business or (ii) own any material assets other than (a) the Capital Stock of Company and (b) Cash and Cash Equivalents or (iii) have any Indebtedness, Liens (other than Permitted Encumbrances) or Contingent Obligations other than (a) under the Guaranty or the Security Agreement and (b) customary indemnifications of officers and directors: THEN (i) upon the occurrence of any Event of Default described in subsection 8.6 or 8.7 with respect to Company, each of (a) the unpaid principal amount of and accrued interest on the Loans, (b) an amount equal to the maximum amount that may at any time be drawn under all Letters of Credit then outstanding (whether or not any beneficiary under any such Letter of Credit shall have presented, or shall be entitled at such time to present, the drafts or other documents or certificates required to draw under such Letter of Credit), and (c) all other Obligations shall automatically become immediately due and payable, without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by Company, and the obligation of each Lender to make any Loan, the obligation of Administrative Agent to issue any Letter of Credit and the right of any Lender to issue any Letter of Credit hereunder shall thereupon terminate, and (ii) upon the occurrence and during the continuation of any other Event of Default, Administrative Agent shall, upon the written request or with the written consent of Requisite Lenders, by written notice to Company, declare all or any portion of the amounts described in clauses (a) through (c) above to be, and the same shall forthwith become, immediately due and payable, and the obligation of each Lender to make any Loan, the obligation of Administrative Agent to issue any Letter of Credit and the right of any Lender to issue any Letter of Credit hereunder shall thereupon terminate; provided that the foregoing shall not affect in any way the obligations of Revolving Lenders under subsection 3.3C(i) or the obligations of Revolving Lenders to purchase assignments of any unpaid Swing Line Loans as provided in subsection 2.1A(iii). In addition to the other rights and remedies afforded to Administrative Agent in this Section 8, upon the occurrence of an Event of Default, Administrative Agent, on behalf of the Lenders, at the direction of the Required Lenders, may require that (I) Company Cash Collateralize the Letter of Credit Usage (in an amount e...
Conduct of Business By Holdings. With respect to Holdings, engage in any business or activity, hold any assets or incur any Indebtedness or other liabilities, other than (i) the ownership of all outstanding Equity Interests in the Borrower, (ii) maintaining its corporate existence, (iii) participating in tax, accounting and other administrative activities as a member of the consolidated group of companies including the Loan Parties, (iv) executing, delivering and the performance of rights and obligations under the Loan Documents, the Revolving Loan Documents, the Related Documents, the Acquisition Agreement and related documents to which it is a party, (v) performance of rights and obligations under the Management Agreement or any other customary management or advisory arrangement (whether in writing, verbal or otherwise), (vi) making any Restricted Payment permitted by Section 6.06, (vii) purchasing Qualified Capital Stock of Borrower, (viii) making capital contributions to Borrower, (ix) executing, delivering and the performance of rights and obligations under any employment agreements and any documents related thereto, (x) the making of loans to officers, the Governing Body, and employees in exchange for Equity Interests of Holdings purchased by such officers, Governing Body, or employees pursuant to Section 6.04 and the acceptance of notes related thereto and (xi) activities incidental to the businesses or activities described in clauses (i)-(x) above.
Conduct of Business By Holdings. Holdings shall (i) engage in any business other than entering into and performing its obligations under and in accordance with the Loan Documents and Related Documents (except the Acquisition Agreement) to which it is a party, and its obligations to bonding companies referred to in subclause (iii) below, (ii) own any assets other than (a) the Capital Stock of Company, and (b) Cash and Cash Equivalents in an amount not exceeding the amounts theretofore permitted to be distributed to Holdings under subsection 9.5 plus the aggregate amount of Net Securities Proceeds from the issuance of Capital Stock of Holdings or from any capital contribution to Holdings by any holder of the Capital Stock thereof not required to be applied to prepay the Loans pursuant to subsection 2.4A, or (iii) have any Indebtedness or other liability other than its obligations under the Holdings Guarantee or the Holdings Preferred Stock, or liabilities to bonding companies in respect of any Bonding Program; or
Conduct of Business By Holdings. Holdings shall (i) own any assets other than (a) investments in Company and other Persons, and (b) Cash and Cash Equivalents or (ii) create any consensual Lien on Company’s Capital Stock other than the Lien under the Holdings Pledge Agreement; or
Conduct of Business By Holdings. With respect to Holdings, engage in any business or activity, hold any assets or incur any Indebtedness or other liabilities, other than (i) the ownership of all outstanding Equity Interests in the Borrower, (ii) maintaining its corporate existence, (iii) participating in tax, accounting and other administrative activities as a member of the consolidated group of companies including the Loan Parties, (iv) executing, delivering and the performance of rights and obligations under the Loan Documents, the Related Documents, the Acquisition Agreement and related documents to which it is a party, (v) performance of rights and obligations under the Management Agreement or any other customary management or advisory arrangement (whether in writing, verbal or otherwise), (vi) making any Restricted Payment permitted by Section 6.06, (vii) purchasing Qualified Capital Stock of Borrower, (viii) making capital contributions to Borrower, (ix) executing, delivering and the performance of rights and obligations under any employment agreements and any documents related thereto, (x) the making of loans to officers, the Governing Body, and employees in exchange for Equity Interests of Holdings purchased by such officers, Governing Body, or employees pursuant to Section 6.04 and the acceptance of notes related thereto and (xi) activities incidental to the businesses or activities described in clauses (i)-(x) above.
Conduct of Business By Holdings. Holdings (i) engages in any business other than entering into and performing its obligations under and in accordance with the Loan Documents and Related Agreements to which it is a party or (ii) owns any assets other than (a) the Capital Stock of Company and (b) Cash and Cash Equivalents in an amount not to exceed $5,000,000 at any one time for the purpose of paying general operating expenses of Holdings or (iii) has any Indebtedness or other liability in respect of Indebtedness or any material Contractual Obligation other than its obligations under the Holdings Guaranty or any of the Related Agreements; or
Conduct of Business By Holdings. Holdings shall (i) engage in any business other than entering into and performing its obligations incidental to, under and in accordance with the Loan Documents to which it is a party (which, for the avoidance of doubt, shall include the ability to make Restricted Junior Payments to the extent permitted by this Agreement) or related to or incidental to its ownership of Company or (ii) own any assets other than (a) the Capital Stock of Company and (b) Cash and Cash Equivalents in an amount not to exceed $5,000,000 at any one time for the purpose of paying general operating expenses of Holdings (excluding funds permitted to be paid or distributed to Holdings or capital contributions to and issuances of equity by Holdings); or
Conduct of Business By Holdings. Holdings shall (i) engage in any business other than entering into and performing its obligations under and in accordance with the Loan Documents and Related Agreements to which it is a party or (ii) own any assets other than (a) the capital stock of Company and (b) Cash and Cash Equivalents in an amount not to exceed $250,000 prior to a Qualified Public Offering and $2,000,000 after a Qualified Public Offering at any one time for the purpose of paying general operating expenses of Holdings or (iii) have any Indebtedness or other liability in respect of Indebtedness or any material contractual obligation other than its obligations under the Holdings Guaranty or any of the Related Agreements; or
Conduct of Business By Holdings. Prior to a Qualifying IPO of Company, Holdings shall not (i) engage in any business other than in connection with or incidental to (a) purchasing and owning the Capital Stock of Company, (b) issuing and selling its Capital Stock or options or warrants in respect thereof, (c) entering into and performing its obligations under and in accordance with the Loan Documents and Second Lien Credit Documents to which it is a party and (d) other activities contemplated by this subsection 7.10 or (ii) own any assets other than (a) the Capital Stock of Company, (b) Cash and Cash Equivalents for the purpose of paying general operating expenses of Holdings and (c) pursuant to a purchase or acquisition of all or substantially all of the property and assets or business or a division of a Person, or all of the Capital Stock in a Person, provided that immediately upon such purchase or acquisition the same is contributed to Company or (iii) have any Indebtedness or other liability other than its obligations under the Holdings Guaranty and Second Lien Guaranty (as defined in the Second Lien Credit Agreement) or other unsecured Indebtedness of Holdings which (x) does not require any cash payment until the earlier of the Revolving Loan Commitment Termination Date and the final maturity date of any Term Loans and (y) does not mature earlier than 180 days after the later of the Revolving Loan Commitment Termination Date and the final maturity date of any Term Loans, and (z) is otherwise on terms reasonably satisfactory to the Administrative Agent, provided that the amount thereof, when taken together with Indebtedness incurred or maintained pursuant to subsection 7.1(xv), does not exceed the maximum principal amount of Indebtedness permitted under subsection 7.1(xv), and provided further that the proceeds thereof are contributed to Company as common equity.
Conduct of Business By Holdings. Holdings shall (i) engage in any business other than entering into and performing its obligations under and in accordance with the Loan Documents and Related Agreements to which it is a party or (ii) own any assets other than (a) the capital stock of Company and (b) Cash and Cash Equivalents in an amount not to exceed $100,000 at any one time for the purpose of paying general operating expenses of Holdings:
