Common use of Limitation on Activities of the Co-Issuer Clause in Contracts

Limitation on Activities of the Co-Issuer. The Co-Issuer shall not hold any material assets, be liable for any material obligations or engage in any significant business activities; provided that the Co-Issuer may be a co-obligor with respect to Indebtedness if the Issuer is a primary obligor of such Indebtedness, the net proceeds of such Indebtedness are received by the Issuer and such Indebtedness is incurred in compliance with Section 4.09.

Limitation on Activities of the Co-Issuer. The Co-Issuer shall not hold any material assets, be liable for any material obligations or engage in any significant business activities; provided provided, that the Co-Issuer may be a co-obligor with respect to Indebtedness if the Issuer is a primary obligor of such Indebtedness, the net proceeds of such Indebtedness are received by the Issuer and such Indebtedness is incurred in compliance with Section 4.09.