Common use of Joint Ventures and Investments Clause in Contracts

Joint Ventures and Investments. (a) Except as permitted under clause (b) below, no Obligor shall (and Parent shall ensure that no other member of the Group will) (i) enter into, invest in or acquire (or agree to acquire) any shares, stocks, securities or other interest in any Joint Venture or (ii) transfer any assets or lend to, or guarantee or give an indemnity for, or xxxxx x Xxxx in respect of the obligations of a Joint Venture or maintain the solvency of or provide working capital to any Joint Venture (or agree to do any of the foregoing). (b) Clause (a) shall not apply to any entry into, investment in or acquisition of (or agreement to enter into, invest in or acquire) any interest in a Joint Venture or transfer of assets (or agreement to transfer assets) to a Joint Venture or loan made to, or guarantee, indemnity or lien given in respect of the obligations of, a Joint Venture or maintaining the solvency of or providing working capital to a Joint Venture (or agreement to do any of the foregoing) if such transaction is (i) a Permitted Acquisition, (ii) a Permitted Disposal, (iii) a Permitted Loan, (iv) a Permitted Guarantee, (v) a Permitted Lien, (vi) a Permitted Joint Venture (provided in the case of a Permitted Joint Venture that the aggregate net expenditures in all such Permitted Joint Ventures made by members of the Group from and after the Restructuring Effective Date pursuant to this Section 4.32(b)(vi) shall not exceed $50,000,000 at any time outstanding) or (vii) a Permitted Investment.