Common use of Limitation on Liens on Stock of Significant Subsidiaries Clause in Contracts

Limitation on Liens on Stock of Significant Subsidiaries. The Company will not, and it will not permit any Subsidiary of the Company to, at any time directly or indirectly create, assume, incur or permit to exist any Indebtedness secured by a pledge, lien or other encumbrance (any pledge, lien or other encumbrance being hereinafter in this Section referred to as a "LIEN") on the voting stock of Xxxxx Inc., Xxxxxx Investments LLC or Xxxxxx Consulting Group, Inc. (each a "SIGNIFICANT SUBSIDIARY") without making effective provision whereby the Securities of any series then Outstanding (and, if the Company so elects, any other Indebtedness of the Company that is not subordinate to the Securities of such series and with respect to which the governing instruments require, or pursuant to which the Company is otherwise obligated or required, to provide such security) shall be equally and ratably secured with such secured Indebtedness so long as such other Indebtedness shall be so secured.

Limitation on Liens on Stock of Significant Subsidiaries. The Company will not, and it will not permit any Subsidiary of the Company to, at any time directly or indirectly create, assume, incur or permit to exist any Indebtedness secured by a pledge, lien or other encumbrance (any pledge, lien or other encumbrance being hereinafter in this Section referred to as a "LIENlien") on the voting stock of Xxxxx Inc., Xxxxxx Investments LLC Investments, Inc. or Xxxxxx Consulting Group, Inc. (each a "SIGNIFICANT SUBSIDIARYSignificant Subsidiary") without making effective provision whereby the Offered Securities of any series then Outstanding (and, if the Company so elects, any other Indebtedness of the Company that is not subordinate to the Offered Securities of such series and with respect to which the governing instruments require, or pursuant to which the Company is otherwise obligated or required, to provide such security) shall be equally and ratably secured with such secured Indebtedness so long as such other Indebtedness shall be so secured.

Limitation on Liens on Stock of Significant Subsidiaries. The Company will not, and it will not permit any Subsidiary of the Company to, at any time directly or indirectly create, assume, incur or permit to exist any Indebtedness secured by a pledge, lien or other encumbrance (any pledge, lien or other encumbrance being hereinafter in this Section referred to as a "LIENlien") on the voting stock or voting equity interest of Xxxxx Marsh Inc., Xxxxxx Investments Putnam, LLC or Xxxxxx Consulting Group, Mercer Inc. (each a "SIGNIFICANT SUBSIDIARYSignificant Sxxxxxiary") without making effective xxxxxxive provision whereby the Securities of any series Notes then Outstanding (and, if the Company so elects, any other Indebtedness of the Company that is not subordinate to the Securities of such series Notes and with respect to which the governing instruments require, or pursuant to which the Company is otherwise obligated or required, to provide such security) shall be equally and ratably secured with such secured Indebtedness so long as such other Indebtedness shall be so secured.

Limitation on Liens on Stock of Significant Subsidiaries. The Company will not, and it will not permit any Subsidiary of the Company to, at any time directly or indirectly create, assume, incur or permit to exist any Indebtedness secured by a pledge, lien or other encumbrance (any pledge, lien or other encumbrance being hereinafter in this Section referred to as a "LIENlien") on the voting stock of Xxxxx Marsh Inc., Xxxxxx Investments Putnam Investments, LLC or Xxxxxx Mercer Consulting GroupGroxx, Inc. Xnc. (each a eaxx x "SIGNIFICANT SUBSIDIARYSignificant Subsidiarx") without xxthout making effective provision whereby the Offered Securities of any series then Outstanding (and, if the Company so elects, any other Indebtedness of the Company that is not subordinate to the Offered Securities of such series and with respect to which the governing instruments require, or pursuant to which the Company is otherwise obligated or required, to provide such security) shall be equally and ratably secured with such secured Indebtedness so long as such other Indebtedness shall be so secured.