Common use of Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries Clause in Contracts

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may not, and may 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 Subsidiary to any person other than Globalstar, Globalstar Capital or a Wholly-Owned Restricted Subsidiary except (i) in a transaction consisting of a sale of all the Capital Stock of such Restricted Subsidiary and that complies with the provisions of Section 4.7 to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock of a Restricted Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinanced.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers Guarantor may not, and may not permit any Restricted Subsidiary of the Guarantor to, issue, transfer, convey, sell or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary of the Guarantor or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, Capital Stock of a Restricted Subsidiary of the Guarantor to any person Person other than Globalstar, Globalstar Capital the Guarantor or a Wholly-Wholly Owned Restricted Subsidiary of the Guarantor except (i) in a transaction consisting of a sale of all of the Capital Stock of such Restricted Subsidiary owned by the Guarantor and any Restricted Subsidiary of the Guarantor that complies with the provisions of Section 4.7 10.13 above to the extent such provisions apply; Section applies, (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; , (iii) Disqualified Stock issued in a transaction in whichexchange for, or in connection with whichupon conversion of, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock proceeds of such Restricted Subsidiary the issuance of which are used to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock redeem, refinance, replace or refund shares of a Restricted Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedexchanged, converted, redeemed, refinanced, replaced or refunded and (iv) issuances of not more than 49% of the voting stock and equity interest in a Restricted Subsidiary engaged in the Telecommunications Business (1) in connection with the acquisition of such Restricted Subsidiary or Telecommunications Assets acquired by such Restricted Subsidiary or (2) to a Strategic Investor; provided, that the Guarantor complies with Section 10.13 above to the extent such Section applies.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers Guarantor may not, and may not permit any Restricted Subsidiary of the Guarantor to, issue, transfer, convey, sell or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary of the Guarantor or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, Capital Stock of a Restricted Subsidiary of the Guarantor to any person Person other than Globalstar, Globalstar Capital the Guarantor or a Wholly-Wholly Owned Restricted Subsidiary of the Guarantor except (i) in a transaction consisting of a sale of all of the Capital Stock of such Restricted Subsidiary owned by the Guarantor and any Restricted Subsidiary of the Guarantor that complies with the provisions of Section 4.7 10.13 above to the extent such provisions apply; Section applies, (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; , (iii) Disqualified Stock issued in a transaction in whichexchange for, or in connection with whichupon conversion of, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock proceeds of such Restricted Subsidiary the issuance of which are used to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock redeem, refinance, replace or refund shares of a Restricted Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedexchanged, converted, redeemed, refinanced, replaced or refunded and (iv) issuances of not more than 49% of the voting stock and equity interest in a Restricted Subsidiary engaged in the Telecommunications Business (1) in connection with the acquisition of such Restricted Subsidiary or of Telecommunications Assets acquired or to be acquired by the Guarantor or a Restricted Subsidiary or (2) to a Strategic Investor; provided, that the Guarantor complies with Section 10.13 above to the extent such Section applies.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may Company shall not, and may 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 Subsidiary to any person Person other than Globalstar, Globalstar Capital the Company or a Wholly-Owned Restricted Subsidiary except except: (i) in a transaction consisting of a sale of all of the Capital Stock of such Restricted Subsidiary owned by the Company and any Restricted Subsidiary that complies with the provisions of Section 4.7 1018 to the extent such provisions apply; (ii) if in a transaction that results in such Restricted Subsidiary becoming a Permitted Joint Venture, provided (x) such transaction complies with the provisions of Section1018 to the extent such provisions apply and (y)the Company's remaining Investment in such Permitted Joint Venture would have been permitted as a new Investment under the provisions of Section 1013; (iii)the transfer, conveyance, sale or other disposition of shares required by applicable law or regulation; (iv)if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; or (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (ivv) Disqualified Stock issued in exchange for, or upon conversion of, or the proceeds of a Restricted Subsidiary Incurred the issuance of which are used to Refinance redeem, refinance, replace or refund, shares of Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedexchanged, converted, redeemed, refinanced, replaced or refunded.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may Company (i) shall not permit any Restricted Subsidiary to issue any Capital Stock unless after giving effect thereto the Company's percentage interest (direct and indirect) in the Capital Stock of such Restricted Subsidiary is at least equal to its percentage interest prior thereto, and (ii) shall not, and may shall not permit any Restricted Subsidiary to, issue, transfer, convey, sell sell, lease or otherwise dispose of any shares Capital Stock of any Restricted Subsidiary to any Person (other than the Company or a Wholly Owned Restricted Subsidiary); provided that this covenant will not prohibit (x) the sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of a Restricted Subsidiary owned by the Company and its Restricted Subsidiaries in compliance with the other provisions of this Agreement, (y) the sale or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, disposition of a portion of the issued and outstanding Capital Stock of a Restricted Subsidiary to any person (other than Globalstar, Globalstar Capital a Subsidiary Guarantor) whether or not as a Wholly-Owned Restricted Subsidiary except (i) in a transaction consisting result of a such sale of all the Capital Stock of or disposition such Restricted Subsidiary continues or ceases to be a Restricted Subsidiary if (A) at the time of such sale or disposition, the Company could make an Investment in the remaining Capital Stock held by it or one of its Restricted Subsidiaries in an amount equal to the amount of its remaining Investment in such Person pursuant to Section 5(g) of this Agreement and that complies with (B) such sale or disposition is permitted under, and the Company or such Restricted Subsidiary applies the Net Cash Proceeds of any such sale in accordance with, the provisions of Section 4.7 5(j) of this Agreement, or (z) 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 such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such mandated by applicable law. The Company shall not permit any Restricted Subsidiary to at least maintain issue any Preferred Stock other than to the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock of a Restricted Company or any Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being RefinancedGuarantor.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may Company (a) will not permit any Restricted Subsidiary to issue any Capital Stock unless after giving effect thereto the Company's percentage interest (direct and indirect) in the Capital Stock of such Restricted Subsidiary is at least equal to its percentage interest prior thereto, and (b) will not, and may will not permit any Restricted Subsidiary to, issue, transfer, convey, sell sell, lease or otherwise dispose of any shares Capital Stock of any Restricted Subsidiary to any Person (other than the Company or a Wholly Owned Restricted Subsidiary); provided that this covenant will not prohibit (i) the sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of a Restricted Subsidiary owned by the Company and its Restricted Subsidiaries in compliance with the other provisions of this Indenture, (ii) the sale or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, disposition of a portion of the issued and outstanding Capital Stock of a Restricted Subsidiary to any person (other than Globalstar, Globalstar Capital a Subsidiary Guarantor) whether or not as a Wholly-Owned result of such sale or disposition such Restricted Subsidiary except continues or ceases to be a Restricted Subsidiary if (iA) at the time of such sale or disposition, the Company could make an Investment in a transaction consisting the remaining Capital Stock held by it or one of a its Restricted Subsidiaries in an amount equal to the amount of its remaining Investment in such Person pursuant to Section 4.07 hereof and (B) such sale or disposition is permitted under, and the Company or such Restricted Subsidiary applies the Net Cash Proceeds of all any such sale in accordance with, Section 4.10 hereof, or (iii) the ownership by directors of director's qualifying shares or the ownership by foreign nationals of Capital Stock of such any Restricted Subsidiary and that complies with the provisions of Section 4.7 Subsidiary, to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such mandated by applicable law. The Company will not permit any Restricted Subsidiary to at least maintain issue any Preferred Stock other than to the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock of a Restricted Company or any Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being RefinancedGuarantor.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may not, and may Company (a) will not permit any Restricted Subsidiary to, issue, transfer, convey, sell to issue any Capital Stock (other than to the Company or otherwise dispose of a wholly owned Restricted Subsidiary) and (b) will not permit any shares of Person (other than the Company or a wholly owned Restricted Subsidiary) to own any 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 Subsidiary to any person other than Globalstar, Globalstar Capital or a Wholly-Owned Restricted Subsidiary except (i) in a transaction consisting of a sale of all the Capital Stock of such Restricted Subsidiary and that complies with the provisions of Section 4.7 to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock of a Restricted Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, that this Section 4.16 shall not prohibit (i) the amounts issuance or any sale, transfer, lease, conveyance, or other disposition of all, but not less than all, of the redemption obligations issued and outstanding Capital Stock of any Restricted Subsidiary owned by the Company or any of its Restricted Subsidiaries in compliance with the other provisions of the Indenture, so long as the Net Cash Proceeds, if any, from such sale, transfer, lease, conveyance or other disposition are applied in accordance with Section 4.11 hereof, (ii) the ownership by other Persons of Qualified Capital Stock issued prior to the time such Restricted Subsidiary became a Subsidiary of the Company that was neither issued in contemplation of such Disqualified Subsidiary becoming a Subsidiary nor acquired at that time, (iii) the ownership by directors of director qualifying shares or the ownership by foreign nationals of Capital Stock of any Restricted Subsidiary, to the extent mandated by applicable law, (iv) arrangements existing on the Issuance Date, (v) (A) any issuance, sale or other disposition of Capital Stock (other than Preferred Stock) of a Restricted Subsidiary if, immediately after giving effect thereto, such Restricted Subsidiary would remain a Restricted Subsidiary, or (B) the ownership by any Person of such Capital Stock, or (vi) any issuance, sale or other disposition of Capital Stock of a Restricted Subsidiary if, immediately after giving effect thereto, such Person would no longer constitute a Restricted Subsidiary and any Investment in such Person remaining after giving effect thereto would have been permitted to be made (and shall not exceed be deemed to have been made) under Section 4.8 hereof on the amounts date of the redemption obligations ofsuch issuance, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedsale or other disposition.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers Company may not, and may not permit any Restricted Subsidiary of the Company to, issue, transfer, convey, sell or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary of the Company or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, Capital Stock of a Restricted Subsidiary of the Company to any person other than Globalstar, Globalstar Capital the Company or a Wholly-Owned Restricted Subsidiary of the Company except (i) in a transaction consisting of a sale of all the Capital Stock of such Restricted Subsidiary owned by the Company or any Restricted Subsidiary of the Company and that complies with the provisions of Section 4.7 1013 to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer the Company or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) constituting the issuance of Preferred Stock permitted by the provisions of Section 1008; and (v) Disqualified Stock issued in exchange for, or upon conversion of, or the proceeds of a Restricted Subsidiary Incurred the issuance of which are used to Refinance redeem, refinance, replace or refund shares of Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinanced106 exchanged, converted, redeemed, refinanced, replaced or refunded.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers Company may not, and may not permit any Restricted Subsidiary of the Company to, issue, transfer, convey, sell or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary of the Company or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, Capital Stock of a Restricted Subsidiary of the Company to any person other than Globalstar, Globalstar Capital the Company or a Wholly-Owned Restricted Subsidiary of the Company except (i) in a transaction consisting of a sale of all the Capital Stock of such Restricted Subsidiary owned by the Company or any Restricted Subsidiary of the Company and that complies with the provisions of Section 4.7 1013 to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer the Company or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) constituting the issuance of Preferred Stock permitted by the provisions of Section 1008; and (v) Disqualified Stock issued in exchange for, or upon conversion of, or the proceeds of a Restricted Subsidiary Incurred the issuance of which are used to Refinance redeem, refinance, replace or refund shares of Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedexchanged, converted, redeemed, refinanced, replaced or refunded.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may Company shall not, and may 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 Subsidiary to any person Person other than Globalstar, Globalstar Capital the Company or a Wholly-Owned Restricted Subsidiary except except: (i) in a transaction consisting of a sale of all of the Capital Stock of such Restricted Subsidiary owned by the Company and any Restricted Subsidiary that complies with the provisions of Section 4.7 1018 to the extent such provisions apply; (ii) in a transaction that results in such Restricted Subsidiary becoming a Permitted Joint Venture, provided (x) such transaction complies with the provisions of Section 1018 to the extent such provisions apply and (y) the Company's remaining Investment in such Permitted Joint Venture would have been permitted as a new Investment under the provisions of Section 1013; (iii) the transfer, conveyance, sale or other disposition of shares required by applicable law or regulation; (iv) if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; or (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (ivv) Disqualified Stock issued in exchange for, or upon conversion of, or the proceeds of a Restricted Subsidiary Incurred the issuance of which are used to Refinance redeem, refinance, replace or refund, shares of Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedexchanged, converted, redeemed, refinanced, replaced or refunded.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers may Company (a) will not permit any Restricted Subsidiary to issue any Capital Stock unless after giving effect thereto the Company's percentage interest (direct and indirect) in the Capital Stock of such Restricted Subsidiary is at least equal to its percentage interest prior thereto, and (b) will not, and may will not permit any Restricted Subsidiary to, issue, transfer, convey, sell sell, lease or otherwise dispose of any shares Capital Stock of any Restricted Subsidiary to any Person (other than the Company or a Wholly Owned Restricted Subsidiary); provided, however, that this Section 4.15 will not prohibit (i) the sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of a Restricted Subsidiary owned by the Company and its Restricted Subsidiaries in compliance with the other provisions of this Indenture, (ii) the sale or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, disposition of a portion of the issued and outstanding Capital Stock of a Restricted Subsidiary to any person (other than Globalstar, Globalstar Capital a Subsidiary Guarantor) whether or not as a Wholly-Owned result of such sale or disposition such Restricted Subsidiary except continues or ceases to be a Restricted Subsidiary if (iA) at the time of such sale or disposition, the Company could make an Investment in a transaction consisting the remaining Capital Stock held by it or one of a its Restricted Subsidiaries in an amount equal to the amount of its remaining Investment in such Person pursuant to Section 4.07 hereof and (B) such sale or disposition is permitted under, and the Company or such Restricted Subsidiary applies the Net Cash Proceeds of all any such sale in accordance with, Section 4.10 hereof, or (iii) the ownership by directors of director's qualifying shares or the ownership by foreign nationals of Capital Stock of such any Restricted Subsidiary and that complies with the provisions of Section 4.7 Subsidiary, to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such mandated by applicable law. The Company will not permit any Restricted Subsidiary to at least maintain issue any Preferred Stock other than to the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock of a Restricted Company or any Subsidiary Incurred to Refinance Disqualified Stock of such Restricted Subsidiary; provided, however, that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being RefinancedGuarantor.

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Issuers Company may not, and may not permit any Restricted Subsidiary of the Company to, issue, transfer, convey, sell or otherwise dispose of any shares of Capital Stock of a Restricted Subsidiary of the Company or securities convertible or exchangeable into, or options, warrants, rights or any other interest with respect to, Capital Stock of a Restricted Subsidiary of the Company to any person other than Globalstar, Globalstar Capital the Company or a Wholly-Owned Restricted Subsidiary of the Company except (i) in a transaction consisting of a sale of all the Capital Stock of such Restricted Subsidiary owned by the Company or any Restricted Subsidiary of the Company and that complies with the provisions of Section 4.7 1013 to the extent such provisions apply; (ii) if required, the issuance, transfer, conveyance, sale or other disposition of directors, ' qualifying shares; (iii) in a transaction in which, or in connection with which, an Issuer the Company or a Restricted Subsidiary acquires at the same time sufficient Capital Stock of such Restricted Subsidiary to at least maintain the same percentage ownership interest it had prior to such transaction; and (iv) Disqualified Stock issued in exchange for, or upon conversion of, or the proceeds of a Restricted Subsidiary Incurred the issuance of which are used to Refinance redeem, refinance, replace or refund shares of Disqualified Stock of such Restricted Subsidiary; provided, however, provided that the amounts of the redemption obligations of such Disqualified Stock shall not exceed the amounts of the redemption obligations of, and such Disqualified Stock shall have redemption obligations no earlier than those required by, the Disqualified Stock being Refinancedexchanged, converted, redeemed, refinanced, replaced or refunded.