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 Company will not sell, and will not permit any Restricted Subsidiary, directly or indirectly, to issue or sell any shares of Capital Stock (or any options, warrants or other rights to purchase such Capital Stock) of a Restricted Subsidiary, except (i) any sale or issuance of Capital Stock to the Company or a Wholly Owned Restricted Subsidiary, (ii) any sale or issuance of Common Stock to directors as director qualifying shares, but only to the extent required under applicable law, (iii) any sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of any Restricted Subsidiary owned by the Company and the Restricted Subsidiaries or (iv) any sale or issuance of Capital Stock of a Restricted Subsidiary (other than pursuant to clauses (i) or (ii)) if such Restricted Subsidiary would no longer be a Restricted Subsidiary immediately after such transaction and any Investment in such Person remaining after giving effect to such sale or issuance would have been permitted to be made under Section 10.13 hereof, and, in the case of both (iii) and (iv), in compliance with Section 10.15 hereof.

Appears in 2 contracts

Samples: Indenture (Rhythms Net Connections Inc), Rhythms Net Connections Inc

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Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Company will shall not sell, and will shall not permit any of its Restricted SubsidiarySubsidiaries, directly or indirectly, to issue or sell sell, any shares of Capital Stock of a Restricted Subsidiary (or any including options, warrants or other rights to purchase shares of such Capital Stock) of a Restricted Subsidiary, except (i) any sale or issuance of Capital Stock to the Company or a Wholly Owned Restricted Subsidiary, (ii) any sale issuances or issuance sales to foreign nationals of Common shares of Capital Stock to directors as director qualifying sharesof foreign Restricted Subsidiaries, but only to the extent required under by applicable law, or issuances or sales to directors of directors' qualifying shares, (iii) if, immediately after giving effect to such issuance or sale, neither the Company nor any sale or other disposition Subsidiary owns any shares of all, but not less than all, of the issued and outstanding Capital Stock of any such Restricted Subsidiary owned by the Company and the Restricted Subsidiaries (including options, warrants or other rights to purchase shares of such Capital Stock) or (iv) any sale if, immediately after giving effect to such issuance or issuance of Capital Stock of a Restricted Subsidiary (other than pursuant to clauses (i) or (ii)) if sale, such Restricted Subsidiary would no longer be constitute a Restricted Subsidiary immediately after such transaction and any Investment in such Person remaining after giving effect to such issuance or sale or issuance would have been permitted to be made under Section 10.13 hereof1010 if made on the date of such issuance or sale. 104 In addition, andthe Company shall not, and shall not permit any of its Restricted Subsidiaries to, sell, transfer or otherwise dispose of any of its properties or assets to an Unrestricted Subsidiary other than in the case ordinary course of both (iii) and (iv), in compliance with Section 10.15 hereofbusiness.

Appears in 1 contract

Samples: Indenture (Citadel License Inc)

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Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Company will not sellnot, and will not permit any Restricted SubsidiarySubsidiary to, directly or indirectly, to issue or sell any shares of Capital Stock (or any options, warrants or other rights to purchase such Capital Stock) of a Restricted Subsidiary, except Subsidiary (i) any sale or issuance of Capital Stock other than to the Company or a Wholly Owned Restricted Subsidiary) except that the provisions of this Section 1010 shall not prohibit (i) the ownership by directors of director's qualifying shares or the ownership by foreign nationals of shares of Capital Stock of any Restricted Subsidiary, to the extent mandated by applicable law; (ii) issuances or sales of Capital Stock if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer be a Restricted Subsidiary and any Investment in such Person remaining after giving effect to such issuance or sale would have been permitted to be made under Section 1009 if made on the date of such issuance and sale; or issuance of Common Stock to directors as director qualifying shares, but only to the extent required under applicable law, (iii) any the issuance and sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of any Restricted Subsidiary owned by the Company and the Restricted Subsidiaries or (iv) any sale or issuance of Capital Stock of a Restricted Subsidiary (other than pursuant to clauses (i) or (ii)) if such Restricted Subsidiary would no longer be a Restricted Subsidiary immediately after such transaction and any Investment in such Person remaining after giving effect to such sale or issuance would have been permitted to be made under Section 10.13 hereof, and, in the case of both (iii) and (iv), in compliance with Section 10.15 hereof1015.

Appears in 1 contract

Samples: Indenture (Dti Holdings Inc)

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