Common use of Designation and Redesignation of Subsidiaries Clause in Contracts

Designation and Redesignation of Subsidiaries. So long as no Default or Event of Default exists or would result from such designation or redesignation, the Borrower may, at any time upon written notice to the Administrative Agent, redesignate any Restricted Subsidiary as an Unrestricted Subsidiary, redesignate any Unrestricted Subsidiary as a Restricted Subsidiary or designate any newly created or acquired Domestic Subsidiary as an Unrestricted Subsidiary. No such designation of a new Subsidiary as an Unrestricted Subsidiary or redesignation of a Restricted Subsidiary as an Unrestricted Subsidiary under this subsection (b) shall be permitted unless, at the time in question, the Borrower would have the right, without causing a Default or Event of Default, to (i) distribute to its shareholders as an in-kind dividend the equity interest owned by the Borrower (directly or indirectly) in such Restricted Subsidiary or newly created or acquired Domestic Subsidiary, (ii) to distribute to its shareholders as a cash dividend an amount of money equal to the fair market value of the assets owned by such Restricted Subsidiary or newly created or acquired Domestic Subsidiary or (iii) invest an amount of money equal to the value of such Unrestricted Subsidiary’s assets directly or indirectly in the equity of such Unrestricted Subsidiary within the applicable dollar limits prescribed by Section 6.04.

Designation and Redesignation of Subsidiaries. So long as no Default or Event of Default exists or would result from such designation or redesignation, the Borrower Company may, at any time upon written notice to the Administrative Agent, (1) redesignate any Restricted Subsidiary as an Unrestricted Subsidiary, (2) redesignate any Domestic Subsidiary previously designated as an Unrestricted Subsidiary as a Restricted Subsidiary or Subsidiary, (3) designate any newly created or acquired Domestic Subsidiary as an Unrestricted Subsidiary or (4) designate any Subsidiary formed in connection with a Permitted Corporate Transaction as a Restricted Subsidiary or an Unrestricted Subsidiary. No Other than in connection with a Permitted Corporate Transaction, no such designation of a new Subsidiary as an Unrestricted Subsidiary or redesignation of a Restricted Subsidiary as an Unrestricted Subsidiary under this subsection (bc) shall be permitted unless, at the time in question, the Borrower Company would have the right, without causing a Default or Event of Default, to (i) distribute to its shareholders as an in-kind dividend the equity interest owned by the Borrower (directly or indirectly) in such Restricted Subsidiary or newly created or acquired Domestic Subsidiary, (ii) to distribute to its shareholders as a cash dividend an amount of money equal to the fair market value of the assets owned by such Restricted Subsidiary or newly created or acquired Domestic Subsidiary or (iii) invest an amount of money equal to the value of such Unrestricted Subsidiary’s assets directly or indirectly in the equity of such Unrestricted Subsidiary within the applicable dollar limits prescribed by in compliance with Section 6.04.

Designation and Redesignation of Subsidiaries. So long as no Default or Event of Default exists or would result from such designation or redesignation, the Borrower may, at any time upon and with the written notice to consent of the Administrative Agent, redesignate any Restricted Subsidiary as an Unrestricted Subsidiary, redesignate any Unrestricted Subsidiary as a Restricted Subsidiary or designate any newly created or acquired non Wholly-Owned Domestic Subsidiary as an Unrestricted Subsidiary. No such designation of a new Subsidiary as an Unrestricted Subsidiary or The Agent will not unreasonably withhold its consent to any request by the Borrower for redesignation of a Restricted Subsidiary as an Unrestricted Subsidiary under this subsection (b) shall be permitted unlessif, at the time in question, the Borrower would have the right, without causing a Default or Event of Default, to (i) distribute to its shareholders as an in-kind dividend the equity interest owned by the Borrower (directly or indirectly) in such Restricted Subsidiary or newly created or acquired non Wholly-Owned Domestic Subsidiary, Subsidiary or (ii) to distribute to its shareholders as a cash dividend an amount of money equal to the fair market value of the assets owned by such Restricted Subsidiary or newly created or acquired non Wholly-Owned Domestic Subsidiary or (iii) invest an amount of money equal to the value of such Unrestricted Subsidiary’s assets directly or indirectly in the equity of such an Unrestricted Subsidiary within the applicable dollar limits limit prescribed by Section 6.046.04(a)(i).

Designation and Redesignation of Subsidiaries. So long as no Default or Event of Default exists or would result from such designation or redesignation, the Borrower may, at any time upon written notice to the Administrative Agent, (1) redesignate any Restricted Subsidiary as an Unrestricted Subsidiary, (2) redesignate any Unrestricted Subsidiary as a Restricted Subsidiary or Subsidiary, (3) designate any newly created or acquired Domestic Subsidiary as an Unrestricted Subsidiary or (4) designate any Domestic Subsidiary formed in connection with a Permitted Corporate Transaction as a Restricted Subsidiary or an Unrestricted Subsidiary. No Other than in connection with a Permitted Corporate Transaction, no such designation of a new Subsidiary as an Unrestricted Subsidiary or redesignation of a Restricted Subsidiary as an Unrestricted Subsidiary under this subsection (b) shall be permitted unless, at the time in question, the Borrower would have the right, without causing a Default or Event of Default, to (i) distribute to its shareholders as an in-kind dividend the equity interest owned by the Borrower (directly or indirectly) in such Restricted Subsidiary or newly created or acquired Domestic Subsidiary, (ii) to distribute to its shareholders as a cash dividend an amount of money equal to the fair market value of the assets owned by such Restricted Subsidiary or newly created or acquired Domestic Subsidiary or (iii) invest an amount of money equal to the value of such Unrestricted Subsidiary’s assets directly or indirectly in the equity of such Unrestricted Subsidiary within the applicable dollar limits prescribed by Section 6.04.