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 (a) shall not permit any Restricted Subsidiary to issue any Capital Stock (other than to the Company or a Restricted Subsidiary) and (b) shall not permit any Person (other than the Company or a Restricted Subsidiary) to own any Capital Stock of any Restricted Subsidiary; provided, however, that this Section shall 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 or (ii) 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.

Appears in 1 contract

Samples: Securities Indenture (Dvi Inc)

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Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Company (a) shall will not permit any Restricted Subsidiary to issue any Capital Stock (other than to the Company or a Restricted Subsidiary) and (b) shall will not permit any Person (other than the Company or a Restricted Subsidiary) to own any Capital Stock of any Restricted Subsidiary; provided, however, that this Section covenant shall not prohibit (i) the issuance and sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of a any Restricted Subsidiary owned by the Company and its or any Restricted Subsidiaries Subsidiary in compliance with the other provisions of this Indenture or (ii) the ownership by directors of director's directors' qualifying shares or the ownership by foreign nationals of Capital Stock of any Restricted Subsidiary, to the extent mandated by applicable law.

Appears in 1 contract

Samples: Indenture (Cd Radio Inc)

Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Company will not (a) shall not permit any Restricted Subsidiary to issue or sell any Capital Stock (other than to the Company or a wholly owned Restricted Subsidiary) and or (b) shall not permit any Person (other than the Company or a wholly owned Restricted Subsidiary) to own any Capital Stock of any Restricted Subsidiary; provided, however, that this Section shall not prohibit except (i) in the sale or other disposition of all, but not less than all, case of the issued and outstanding Capital Stock of acquisition by a Restricted Subsidiary owned by Person other than the Company and its Restricted Subsidiaries in compliance of all of the Capital Stock of a Restricted Subsidiary, if such sale or issuance complies with the other provisions of this Indenture or (ii) the issuance to or ownership by directors of director's directors' qualifying shares or the issuance to or ownership by foreign nationals a Person of Capital Stock of any Restricted Subsidiary, to the extent mandated by applicable law.

Appears in 1 contract

Samples: Indenture (Claxson Interactive Group Inc)

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Limitation on Issuances and Sales of Capital Stock of Restricted Subsidiaries. The Company (a) shall not permit any Restricted Subsidiary to issue any Capital Stock (other than to the Company or a Restricted Subsidiary) and (b) shall not permit any Person (other than the Company or a Restricted Subsidiary) to own any Capital Stock of any Restricted Subsidiary; provided, however, that this Section covenant shall not prohibit (i) the issuance and sale or other disposition of all, but not less than all, of the issued and outstanding Capital Stock of a any Restricted Subsidiary owned by the Company and its or any Restricted Subsidiaries Subsidiary in compliance with the other provisions of this Indenture or (ii) the ownership by directors of director's directors' qualifying shares or the ownership by foreign nationals of Capital Stock of any Restricted Subsidiary, to the extent mandated by applicable law.

Appears in 1 contract

Samples: Indenture (Cd Radio Inc)

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