Issuance or Disposition of Capital Securities. The Borrower shall not --------------------------------------------- permit any Subsidiary to issue any Capital Securities, and the Borrower shall not and shall not permit any Subsidiary to sell, transfer or otherwise dispose of any Capital Securities of any Subsidiary, except (a) any issuance by a Subsidiary of Capital Securities to the Borrower or a Wholly-Owned Subsidiary and (b) any disposition by the Borrower or any Subsidiary of any Capital Securities of a Wholly-Owned Subsidiary to the Borrower or another Wholly-Owned Subsidiary.
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities to any Person other than the Guarantor, or sell, transfer or otherwise dispose of any Capital Securities of any Subsidiary, without the prior written consent of the Bank.
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of any Subsidiary, except for (a) any issuance of Capital Securities that are subjected to the Security Interest in a manner satisfactory to the Administrative Agent and (b) any disposition of Capital Securities of any Subsidiary so long as all of the assets of such Subsidiary could have been disposed of in compliance with Section 4.11(c) or (e).
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of any Subsidiary, except that this Section 4.19 shall not apply to (a) any issuance by the Borrower of any of its Capital Securities, (b) any issuance by a Subsidiary of any of its Capital Securities to the Borrower or a Wholly Owned Subsidiary, (c) any issuance by a Subsidiary of any of its Capital Securities to the holders of the common stock of such Subsidiary made pro rata to the relative amounts of such common stock held by such holders, (d) any disposition by the Borrower or any Subsidiary of any Capital Securities of a Subsidiary to the Borrower or a Wholly Owned Subsidiary, (e) any issuance by a Subsidiary that is not a Material Subsidiary of less than 50% of its Capital Securities, and (f) any issuance by an RGA Trust of Trust Preferred Securities.
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of such Borrower or any Significant Subsidiary thereof, except that this Section 4.17 shall not apply to (a) any issuance or disposition of Capital Securities of EUA, (b) any issuance or disposition of preferred stock of any Regulated Borrower, so long as such preferred stock is not convertible into common stock of such Regulated Borrower or (c) any issuance or disposition of Capital Securities of Cogenex that would not result in a Default under Section 6.01(j).
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of any Borrower or any other Subsidiary, except that this Section 5.10 shall not apply to the issuance of common stock of the Parent in connection with any public offering or private sale or the issuance of Capital Securities of the Parent to employees, officers or directors under incentive stock arrangements, provided that the Parent and the Borrowers shall, prior to a public offering or private sale, renegotiate the financial covenants contained herein to reflect the effects of such issuance in a manner satisfactory to the Agent and the Banks.
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities issued by any Subsidiary, except that this Section 4.13 shall not apply to (a) any issuance by a Restricted Subsidiary of any of its Capital Securities to the Borrower or a Restricted Subsidiary, (b) any issuance by a Restricted Subsidiary of any of its Capital Securities to the holders of the common stock or other ownership interests of such Restricted Subsidiary made pro rata to the relative amounts of such common stock or other ownership interests, respectively, held by such holders, (c) any disposition by the Borrower or any Restricted Subsidiary of any Capital Securities issued by a Subsidiary (i) to the Borrower or a Restricted Subsidiary or (ii) pursuant to any disposition permitted under Section 4.08 and (d) so long as no Default under Section 6.01(l) would result therefrom, any issuance by the Borrower of its Capital Securities.
Issuance or Disposition of Capital Securities. The Company will not, and will not permit any of its Subsidiaries to, issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of any Subsidiary, except for (a) dispositions of Capital Securities pursuant to the PIC Sale, the PennUnion Sale and the United Life Sale; (b) dispositions of all or substantially all of the Capital Securities of Kivex, and of other Capital Securities, for the disposition of which the Majority Banks shall have waived the provisions of Section 8.06(c); (c) issuances and dispositions of Capital Securities set forth on Amended Schedule 8.23 to Amendment No. 6; (d) issuances and dispositions of Mandated Capital Requirement Capital Securities, (e) issuances by the Company of its Capital Securities pursuant to the exercise of Permitted Stock Options and (f) dividends paid in kind on the preferred stock of Southwestern Financial Corporation. Section 8.24
Issuance or Disposition of Capital Securities. Issue any of its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of any Subsidiary, except that this Section 4.19 shall not apply to (a) any issuance by RGA of any of its Capital Securities, (b) any issuance by a Subsidiary of any of its Capital Securities to RGA or a Wholly Owned Subsidiary, (c) any issuance by a Subsidiary of any of its Capital Securities to the holders of the common stock of such Subsidiary made pro rata to the relative amounts of such common stock held by such holders, (d) any disposition by RGA or any Subsidiary of any Capital Securities of a Subsidiary to RGA or a Wholly Owned Subsidiary, (e) any issuance by a Subsidiary that is not a Material Subsidiary of less than 50% of its Capital Securities, (f) any issuance by an RGA Trust of Trust Preferred Securities, (g) any issuance under an Alternative Reserve Agreement and (h) any sale, transfer or disposition of any Capital Securities of any Subsidiary other than a Material Subsidiary or Account Party which has been negotiated and consummated on an arm’s-length basis.
Issuance or Disposition of Capital Securities. Issue any of --------------------------------------------- its Capital Securities or sell, transfer or otherwise dispose of any Capital Securities of any Significant Subsidiary, except that this Section 4.12 shall not apply to (a) any Permitted Restructuring Transaction, (b) any issuance of Capital Securities of a Significant Subsidiary (i) that are subjected to the Security Interest in a manner reasonably satisfactory to the Administrative Agent or (ii) for the purpose of effecting a disposition contemplated by Section 4.09(e), (c) any issuance by the Company of its capital stock to any present or former employee of the Company pursuant to any stock option plan of the Company in effect on the Agreement Date or (d) any issuance, sale, transfer or other disposition of such Capital Securities as consideration for an acquisition permitted by Section 4.08(e).
