Limitation on Issuances and Sales. OF CAPITAL STOCK OF WHOLLY OWNED RESTRICTED SUBSIDIARIES. The Company (i) shall not, and shall not permit any Wholly Owned Restricted Subsidiary of the Company to, transfer, convey, sell or otherwise dispose of any Capital Stock of any Wholly Owned Restricted Subsidiary of the Company to any Person (other than the Company or a Wholly Owned Restricted Subsidiary of the Company), unless (a) such transfer, conveyance, sale, lease or other disposition is of all the Capital Stock of such Wholly Owned Restricted Subsidiary and (b) the cash Net Proceeds from such transfer, conveyance, sale, lease or other disposition are applied in accordance with Section 4.10 hereof and (ii) shall not permit any Wholly Owned Restricted Subsidiary of the Company to issue any of its Equity Interests (other than, if necessary, shares of its Capital Stock constituting directors' qualifying shares) to any Person other than to the Company or a Wholly Owned Restricted Subsidiary of the Company.
Limitation on Issuances and Sales of Capital Stock of ----------------------------------------------------- Restricted Subsidiaries. -----------------------
Limitation on Issuances and Sales. OF CAPITAL STOCK OF WHOLLY OWNED RESTRICTED SUBSIDIARIES. The Company (i) shall not, and shall not permit any Restricted Subsidiary of the Company to, transfer, convey, sell, lease or otherwise dispose of any Capital Stock of any Restricted Subsidiary of the Company to any Person (other than the Company or a Wholly Owned Restricted Subsidiary of the Company), unless (a) such transfer, conveyance, sale, lease or other disposition is of all the Capital Stock of such Restricted Subsidiary and (b) the cash Net Proceeds from such transfer, conveyance, sale, lease or other disposition are applied in accordance with Section 4.10 hereof and (ii) shall not permit any Restricted Subsidiary of the Company to issue any of its Equity Interests (other than, if necessary, shares of its Capital Stock constituting directors' qualifying shares) to any Person other than to the Company or a Guarantor.
Limitation on Issuances and Sales of Equity Interests in -------------------------------------------------------- Subsidiaries. All of Lessee's Restricted Subsidiaries, other than Shreveport ------------ Capital, shall be wholly owned by Lessee, by one or more of its Restricted Subsidiaries or by Lessee and one or more of its Restricted Subsidiaries. Lessee will not, and will not permit any of its Restricted Subsidiaries to, transfer, convey, sell, lease or otherwise dispose of any Equity Interests in any Restricted Subsidiary of Lessee to any Person (other than Lessee or a Restricted Subsidiary of Lessee), unless (a) such transfer, conveyance, sale, lease or other disposition is of all the Equity Interests in such Restricted Subsidiary and (b) the cash net proceeds from such transfer, conveyance, sale, lease or other disposition are applied in accordance with the Indenture as in effect on the Closing Date. In addition, Lessee shall not permit any of its Restricted Subsidiaries to issue any of its Equity Interests to any Person other than to Lessee or one or more of its Restricted Subsidiaries.
Limitation on Issuances and Sales of Capital Stock of ----------------------------------------------------- Subsidiaries. ------------ The Company shall not cause or permit any of its Subsidiaries to issue or sell any Capital Stock (other than to the Company or to a wholly-owned Subsidiary of the Company) or permit any Person (other than the Company or a wholly-owned Subsidiary of the Company) to own or hold any Capital Stock of any Subsidiary of the Company or any Lien or security interest therein; provided, -------- however, that this Section 4.18 shall not prohibit the disposition (by sale, ------- merger or otherwise) of all of the Capital Stock of a Subsidiary provided any Net Cash Proceeds therefrom are applied in accordance with Section 4.17.
Limitation on Issuances and Sales of Equity Interests in -------------------------------------------------------- Restricted Subsidiaries. -----------------------
Limitation on Issuances and Sales of Capital Stock of ----------------------------------------------------- Restricted Subsidiaries. ----------------------- The Company shall not, and shall not permit any Restricted Subsidiary to, issue, transfer, convey, sell or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, Capital Stock of a Restricted
Limitation on Issuances and Sales of Equity Interests in Restricted ------------------------------------------------------------------- Subsidiaries. ------------ The Company will not, and will not permit any of its Restricted Subsidiaries to convey, sell, or otherwise dispose of any Equity Interests in any Restricted Subsidiary of the Company to any Person (other than the Company or a Wholly Owned Restricted Subsidiary of the Company), unless:
Limitation on Issuances and Sales of Capital Stock of ----------------------------------------------------- Restricted Subsidiaries. ----------------------- The Parent Company shall not, and shall not permit any of its Restricted Subsidiaries to, issue, transfer, convey, sell, lease or otherwise dispose of any Capital Stock of or other ownership interests in such or any other Restricted Subsidiary, or options, warrants or other rights to acquire, or securities convertible into or exchangeable for, such Capital Stock or other ownership interests, to any Person (other than the Parent Company or a Wholly Owned Restricted Subsidiary) unless such transfer, conveyance, sale, lease or other disposition is of all the Capital Stock of and other ownership interests in such Restricted Subsidiary and the Net Available Proceeds from such sale, assignment, transfer or conveyance (including from the sale of any marketable cash equivalents received therein), less any Reinvested Amounts, are applied in accordance with Clause (iii) of Section 1019. SECTION 1018. Limitation on Transactions with Affiliates and Related ------------------------------------------------------ Persons. ------- The Parent Company may not, and may not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into any transaction (including the purchase, sale, lease or exchange of property, the rendering of any service or the making of any loan or advance) after the date of the Indenture with any Affiliate or Related Person unless (i) such Affiliate or Related Person is (both before and after such transaction) a Wholly Owned Restricted Subsidiary of the Parent Company; or (ii) the terms of the transaction are no less favorable to the Parent Company or such Subsidiary than those that could be obtained in a comparable arm's-length transaction with an entity that is not an Affiliate or a Related Person and are in the best interests of the Parent Company or such Subsidiary; provided that, for any transaction (or series of related transactions) in which the total consideration given or to be provided by the Parent Company or such Subsidiary in or pursuant to such transaction (or series) (including cash, the fair value of non-cash property and the assumption of Debt) exceeds or will exceed $5.0 million, a majority of the members of the Board of Directors of the Parent Company who are disinterested with respect to such transaction (or series) shall 109 determine that such transaction (or series) satisfies the criteria set ...
Limitation on Issuances and Sales of Capital Stock of ----------------------------------------------------- Restricted Subsidiaries. The New Obligor (i) will not permit any of its ----------------------- Restricted Subsidiaries (other than the Bank and its Subsidiaries) to issue any Capital Stock (other than to the New Obligor or a Wholly Owned Restricted Subsidiary of the New Obligor) and (ii) other than with respect to Capital Stock of the Bank and its Subsidiaries, will not permit any Person (other than the New Obligor or a Wholly Owned Restricted Subsidiary) to own any Capital Stock of any of its Restricted Subsidiaries; provided, however, that this covenant shall not prohibit (A) the issuance and sale of all, but not less than all, of the issued and outstanding Capital Stock of any Restricted Subsidiary owned by the New Obligor or any of its Restricted Subsidiaries in compliance with the other provisions of the Indenture or (B) the ownership by directors of director's qualifying shares or the ownership by foreign nationals of Capital Stock of any Restricted Subsidiary, to the extent mandated by applicable law; provided further, however, that the Bank will not, and will not permit any Subsidiary of the Bank to, create any class of common stock if such class of common stock provides for, or entitles any holder thereof to, the payment of dividends or distributions of any kind on any basis other than on a pro rata basis, consistent with the ownership interests of all the holders of the common stock of the Bank or of such Subsidiary, as the case may be, to the holders of all classes of common stock of the Bank or such Subsidiary, as the case may be.
