Common use of Excluded Equity Issuance Clause in Contracts

Excluded Equity Issuance. Any issuance of (or capital contribution to any Loan Party in respect of any such issuance) (i) Capital Stock (other than Disqualified Stock) by a Borrower to management, employees, directors or other service providers of such Borrower under any employee stock option or stock purchase plan or agreement or other employee benefits plan (including, without limitation, the repayment of any loan made to such management or employee in connection with such issuance), or (ii) Capital Stock by a Loan Party to a Loan Party; provided that no issuance of Capital Stock that gives rise to a Change of Control shall be included in the definition of Excluded Equity Issuance.