Common use of Eligible Subsidiaries Clause in Contracts

Eligible Subsidiaries. The Company may from time to time cause any Wholly-Owned Consolidated Subsidiary (or, with the consent of the Required Banks, any other Subsidiary) to become eligible to borrow under Sections 2.01, 2.03 and 2.04 or to have Letters of Credit issued for its account under Section 2.17 by delivering to the Agent an Election to Participate with respect to such Subsidiary and by causing such Subsidiary to become a Guarantor under the Guarantee Agreement and a Grantor under the Pledge Agreement and by causing the owner of Equity Interests in such Subsidiary to become a Grantor under the Pledge Agreement. The eligibility of any such Subsidiary to borrow or to have Letters of Credit issued for its account under said Sections shall terminate when the Agent receives a Notice of Termination with respect to such Subsidiary. Each Election to Participate delivered to the Agent shall be duly executed on behalf of the relevant Subsidiary and the Company, and each Election to Terminate delivered to the Agent shall be duly executed on behalf of the Company, in such number of copies as the Agent may request. The delivery of an Election to Terminate shall not affect any obligation of the relevant Subsidiary theretofore incurred. The Agent shall promptly give notice to the Banks and the Issuing Bank of its receipt of any Election to Participate or Election to Terminate.

Eligible Subsidiaries. The Company may from --------------------- time to time cause any Whollywholly-Owned owned Consolidated Subsidiary (or, with the consent of the Required Banks, any other Subsidiary) to become an Eligible Subsidiary eligible to borrow under Sections 2.01, 2.03 Loans and 2.04 or to have Letters of Credit issued for its account under Section 2.17 hereunder by delivering to the Administrative Agent an Election to Participate Participate, substantially in the form of Exhibit I hereto, with respect to such Subsidiary and by causing such Subsidiary to become a Guarantor under the Guarantee Agreement and a Grantor under the Pledge Agreement and by causing the owner of Equity Interests in such Subsidiary to become a Grantor under the Pledge AgreementSubsidiary. The eligibility of any such Subsidiary to borrow or to have Letters of Credit issued for its account under said Sections as an Eligible Subsidiary shall terminate when the Administrative Agent receives a Notice of Termination Termination, substantially in the form of Exhibit J hereto, with respect to such Subsidiary. Each Election to Participate delivered to the Administrative Agent shall be duly executed on behalf of the relevant Subsidiary and the Company, and each Election to Terminate delivered to the Administrative Agent shall be duly executed on behalf of the Company, in such number of copies as the Administrative Agent may request. The delivery of an Election to Terminate shall not affect any obligation of the relevant Subsidiary theretofore incurredincurred but on and after the effective date of such Election to Terminate such Subsidiary shall have no liability hereunder other than with respect to Loans made to such Subsidiary and Letters of Credit issued for the account of such Subsidiary prior to such date. The Administrative Agent shall promptly give notice to the Banks and the Issuing Bank Banks of its receipt of any Election to Participate or Election to Terminate.

Eligible Subsidiaries. The Company may from time to --------------------- time cause any Whollywholly-Owned owned Consolidated Subsidiary (or, with the consent of the Required Banks, any other Subsidiary) to become an Eligible Subsidiary eligible to borrow under Sections 2.01, 2.03 and 2.04 or to have Letters of Credit issued for its account under Section 2.17 Loans hereunder by delivering to the Administrative Agent an Election to Participate Participate, substantially in the form of Exhibit K hereto, with respect to such Subsidiary and by causing such Subsidiary to become a Guarantor under the Guarantee Agreement and a Grantor under the Pledge Agreement and by causing the owner of Equity Interests in such Subsidiary to become a Grantor under the Pledge AgreementSubsidiary. The eligibility of any such Subsidiary to borrow or to have Letters of Credit issued for its account under said Sections as an Eligible Subsidiary shall terminate when the Administrative Agent receives a Notice of Termination Termination, substantially in the form of Exhibit L hereto, with respect to such Subsidiary. Each Election to Participate delivered to the Administrative Agent shall be duly executed on behalf of the relevant Subsidiary and the Company, and each Election to Terminate delivered to the Administrative Agent shall be duly executed on behalf of the Company, in such number of copies as the Administrative Agent may request. The delivery of an Election to Terminate shall not affect any obligation of the relevant Subsidiary theretofore incurredincurred but on and after the effective date of such Election to Terminate such Subsidiary shall have no liability hereunder other than with respect to Loans made to such Subsidiary prior to such date. The Administrative Agent shall promptly give notice to the Banks and the Issuing Bank of its receipt of any Election to Participate or Election to Terminate.