Common use of Limitation on Issuance Clause in Contracts

Limitation on Issuance. Sale and Ownership of Capital Stock of Subsidiaries. The Company will not, and will not permit any of its Subsidiaries to, (i) sell, assign, transfer, convey or otherwise dispose of, any Equity Interests of any Subsidiary of the Company, other than to the Company or another Subsidiary of the Company, (ii) permit any Subsidiary of the Company to issue any Equity Interests (including, without limitation, pursuant to any merger, consolidation, recapitalization or similar transaction) other than to the Company or another Subsidiary of the Company or (iii) permit any Person other than the Company or its Subsidiaries to own any Equity Interests of any Subsidiary of the Company, except that (A) the Company or its Subsidiaries may consummate a sale to a Person of all of the Equity Interests of a Subsidiary of the Company, if such sale is made by the Company or another Subsidiary of the Company subject to, and in compliance with, Section 4.2, and (B) the Company may issue and permit the subsequent ownership by directors of, directors' qualifying shares.