Creation of Subsidiary. Borrower shall not (i) create any direct or indirect subsidiary or divest themselves of any material assets by transferring them to any future subsidiary or by entering into a partnership, joint venture or similar arrangement, (ii) make any material change in its capital structures, or (iii) enter into any management contract permitting a third party any management rights with respect to Borrower’s business.
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Samples: Senior Secured Credit Agreement (Kentucky USA Energy, Inc.)
Creation of Subsidiary. Borrower shall not (i) create any direct or indirect subsidiary subsidiary, or divest themselves itself of any material assets by transferring them to any future subsidiary or by entering into a partnership, joint venture or similar arrangement, or (ii) make any material change in its capital structures, or (iii) enter into any management contract permitting a third party any management rights with respect to Borrower’s businessstructure.
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Creation of Subsidiary. Borrower Borrowers shall not (i) create any direct or indirect subsidiary or divest themselves themselyes of any material assets by transferring them to any future subsidiary or by entering into a partnership, joint venture or similar arrangement, (ii) make make, or permit the General Partner to make, any material change in its capital structures, or (iii) enter into any management contract permitting a third party any management rights with respect to Borrower’s Borrowers' business.
Appears in 1 contract
Samples: Advancing Term Credit Agreement (Westside Energy Corp)
Creation of Subsidiary. Borrower shall not (i) create any direct or indirect subsidiary or divest themselves itself of any material assets by transferring them to any future subsidiary or by entering into a partnership, joint venture or similar arrangement, (ii) make any material change in its capital structures, or (iii) enter into any management contract permitting a third party any management rights with respect to Borrower’s business.
Appears in 1 contract
Samples: Advancing Term Credit Agreement (BPI Energy Holdings, Inc.)