Foreign Subsidiary Stock. Notwithstanding Section 7.1, the Collateral shall include only 65% of the voting stock of any Foreign Subsidiary.
Foreign Subsidiary Stock. Notwithstanding anything to the contrary set forth in SECTION 5.1 above, the types or items of Collateral described in such Section shall include only sixty-six percent (66%) of the stock of any Foreign Subsidiary.
Foreign Subsidiary Stock. Notwithstanding Section 2.1, not more than 65% of the voting stock of any Foreign Subsidiary and 100% of all non-voting stock (if any) of each Foreign Subsidiary shall be included in the Collateral.
Foreign Subsidiary Stock. Notwithstanding anything herein to the contrary, in no event shall the US Collateral include or the Lien granted under Section 7.1 hereof (a) attach to any of the Excluded Equity Interests, or (b) include any assets of a Foreign Subsidiary.
Foreign Subsidiary Stock. Notwithstanding Section 7.1, the Collateral shall include only 65% of the voting stock of Arctic Cat ACE Holding GmbH.
Foreign Subsidiary Stock. Notwithstanding Section 7.1, the Collateral shall not include any stock of any Foreign Subsidiary.
Foreign Subsidiary Stock. Notwithstanding anything to the contrary set forth in Section 7.1 above or in any other provision herein, the types or items of Collateral described in such Section shall include (i) no more than sixty-six percent (66%) of the Equity Interests of any direct Foreign Subsidiary (other than the Equity Interests in Alpharma Bermuda G.P. and, for the avoidance of doubt, any Foreign Subsidiary of Alpharma Bermuda G. P. none of which shall be pledged to the Secured Parties) and (ii) no more than sixty-six percent (66%) of the Equity Interests of any Domestic Subsidiary whose sole asset is the stock of Foreign Subsidiaries.
Foreign Subsidiary Stock. Notwithstanding Section 7.1, the Collateral securing any Obligations of a Borrower shall include only 65% of the voting stock of any Foreign Subsidiary solely to the extent pledging or hypothecating more than 65% of the total voting stock of such Foreign Subsidiary to secure such Obligations of such Borrower would result in material adverse tax consequences to the Obligors.
Foreign Subsidiary Stock. Notwithstanding Section 7.1, (a) the Collateral shall include only 65% of the Equity Interests of any Foreign Subsidiary and only if (i) such Foreign Subsidiary is a first-tier Foreign Subsidiary, (ii) Borrower or any of its Subsidiaries owns 80% of such first-tier Foreign Subsidiary’s outstanding Equity Interests and (iii) the pledge of such Equity Interests would not result in a significant tax liability to Borrower or any of its Domestic Subsidiaries or would otherwise be impracticable and (b) the Collateral shall not include any of the Equity Interests of LeapFrog Digital Technology (Shenzhen) Co. Ltd., LeapFrog Edu-Tech (China) Co., Ltd. and any Foreign Subsidiary which is an Immaterial Subsidiary.
Foreign Subsidiary Stock. Notwithstanding anything to the contrary set forth in SECTION 6.1 above, the types or items of Collateral described in such Section (i) shall include only 65% of the stock of any Foreign Subsidiary and (ii) shall not include any Borrower's rights or interests in any lease, license, contract or agreement to which such Borrower is a party, to the extent that a grant of a Security Interest or Lien under this Agreement or any other Loan Document would result in a breach of or default under the terms or provisions of any such lease, license, contract or agreement (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC, any other provisions of the UCC or any other Applicable Law.
