Limit on Preferred Equity Issuance Sample Clauses

Limit on Preferred Equity Issuance. The Borrower will not, nor will it permit any Subsidiary to, issue any preferred stock or other preferred Equity Interests, other than (a) preferred Equity Interests of the Borrower issued (i) without any mandatory redemption provisions or (ii) pursuant to any shareholders’ rights plan of the Borrower; and (b) preferred Equity Interests issued by any Subsidiary to the extent, and only to the extent, that such preferred Equity Interests are owned by the Borrower or another Subsidiary.