Common use of FOREIGN HOLDING COMPANIES Clause in Contracts

FOREIGN HOLDING COMPANIES. Permit any Foreign Holding Company to (a) own any assets other than the Capital Securities of Subsidiaries of which sixty-five percent (65%) of such Capital Securities of each such first-tier Foreign 956 Subsidiary has been pledged to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the Subsidiary Pledge and Security Agreement or appropriate Security Documents, (b) make any expenditures other than such minimal expenditures necessary to maintain its separate corporate existence and good standing in the state of its incorporation, (c) create, incur, assume or otherwise become liable with respect to any Indebtedness other than its obligations pursuant to the Guaranty Agreement, (d) have any employees or engage in any trade or business, (e) merge or consolidate with any other Person, (f) sell or otherwise transfer any of its assets or (g) create, incur, assume or permit to exist any Lien on any of its assets.

FOREIGN HOLDING COMPANIES. Permit any Foreign Holding Company to (a) own any assets other than the Capital Securities of Subsidiaries of which sixty-five percent (65%) of such Capital Securities of each such first-tier Foreign 956 Subsidiary has been pledged to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the Subsidiary Pledge and Security Agreement or appropriate Security Documents, (b) make any expenditures other than such minimal expenditures necessary to maintain its separate corporate existence and good standing in the state of its incorporation, (c) create, incur, assume or otherwise become liable with respect to any Indebtedness other than its obligations pursuant to the Guaranty Agreement and the First Amended and Restated Guaranty Agreement of even date herewith with respect to the Revolving Credit Agreement, (d) have any employees or engage in any trade or business, (e) merge or consolidate with any other Person, (f) sell or otherwise transfer any of its assets or (g) create, incur, assume or permit to exist any Lien on any of its assets.

FOREIGN HOLDING COMPANIES. Permit any Foreign Holding Company to (a) own any assets other than the Capital Securities of Subsidiaries of which sixty-five percent (65%) of such Capital Securities of each such first-tier Foreign 956 Subsidiary has been pledged to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the Subsidiary Pledge and Security Agreement or appropriate Security Documents, (b) make any expenditures other than such minimal expenditures necessary to maintain its separate corporate existence and good standing in the state of its incorporation, (c) create, incur, assume or otherwise become liable with respect to any Indebtedness other than its obligations pursuant to the Guaranty Agreement and the First Amended and Restated Guaranty Agreement of even date herewith with respect to the Term Loan Agreement, (d) have any employees or engage in any trade or business, (e) merge or consolidate with any other Person, (f) sell or otherwise transfer any of its assets or (g) create, incur, assume or permit to exist any Lien on any of its assets.