Common use of Disposal of Subsidiary Stock Clause in Contracts

Disposal of Subsidiary Stock. Borrowers shall not, and shall not permit any of their Subsidiaries to, directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of Borrowers or any of their Subsidiaries, except (i) to qualify directors if required by applicable law and (ii) to the extent required by any Nevada Gaming Authority in order to preserve a material Gaming License.

Disposal of Subsidiary Stock. Borrowers Borrower shall not, and shall not permit any of their its Subsidiaries to, directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of Borrowers or any of their its Subsidiaries, except (i) to qualify directors if required by applicable law and (ii) to the extent required by any Nevada Gaming Authority in order to preserve a material Gaming License.

Disposal of Subsidiary Stock. Borrowers shall not, and shall not permit any of their Subsidiaries to, directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of Borrowers Venetian or any of their SubsidiariesBorrowers' Subsidiaries (other than the sale of preferred membership interests in Venetian to Adelson or an Affiliate of Adxxxxx), except (i) to qualify directors qualxxx xxrectors if required by applicable law and (ii) to the extent required by any Nevada Gaming Authority in order to preserve a material Gaming License.

Disposal of Subsidiary Stock. Borrowers shall not, and shall not permit any of their Subsidiaries to, directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of Borrowers or any of their Subsidiaries, except (i) to qualify 129 directors if required by applicable law and (ii) to the extent required by any Nevada Gaming Authority in order to preserve a material Gaming License.

Disposal of Subsidiary Stock. Except in connection with an IPO Restructuring or an initial public offering by Holdco, the Borrowers shall not, and shall not permit any of their Restricted Subsidiaries to, directly or indirectly sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of Borrowers Venetian or any of their the Restricted Subsidiaries, except (i) to qualify directors if required by applicable law and (ii) to the extent required by any Nevada Gaming Authority or any other gaming authority in order to preserve a material Gaming License.

Disposal of Subsidiary Stock. The Borrowers shall not, and shall not permit any of their Subsidiaries to, directly or indirectly indirectly, sell, assign, pledge or otherwise encumber or dispose of any shares of capital stock or other equity Securities of the Borrowers or any of their Subsidiaries, except (ia) to qualify directors if required by applicable law and (iib) to the extent required by any Nevada Gaming Authority in order to preserve a material Gaming License.