Common use of Creation of Subsidiary Clause in Contracts

Creation of Subsidiary. Borrower shall not (i) create any direct or indirect subsidiary or divest 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.

Creation of Subsidiary. Borrower shall not (i) create any direct or indirect subsidiary or divest itself 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.

Creation of Subsidiary. Borrower shall not (i) create any direct or indirect subsidiary subsidiary, or divest 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.

Creation of Subsidiary. Borrower Borrowers shall not (i) create any direct or indirect subsidiary or divest itself 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.