Common use of Limitation on Preferred Stock of Restricted Subsidiaries Clause in Contracts

Limitation on Preferred Stock of Restricted Subsidiaries. The Borrower will not permit any of its Restricted Subsidiaries to issue any Preferred Stock (other than to the Borrower or to a Restricted Subsidiary of the Borrower) or permit any Person (other than the Borrower or a Restricted Subsidiary of the Borrower) to own any Preferred Stock of any Restricted Subsidiary of the Borrower, other than Permitted Subsidiary Preferred Stock. The provisions of this Section 6.05 will not apply to (w) any Restricted Subsidiary that continues to be a Subsidiary Guarantor, (x) any transaction permitted under Section 6.03 as a result of which none of Holdings, the Borrower or any of its Restricted Subsidiaries will own any Equity Interests of the Restricted Subsidiary whose Preferred Stock is being issued or sold and (y) Preferred Stock that is Disqualified Equity Interests and is issued in compliance with Section 6.01.

Limitation on Preferred Stock of Restricted Subsidiaries. The Borrower will shall not permit any of its Restricted Subsidiaries to issue any Preferred Stock (other than to the Borrower or to a Restricted Subsidiary of the Borrower) or permit any Person (other than the Borrower or a Restricted Subsidiary of the Borrower) to own any Preferred Stock of any Restricted Subsidiary of the Borrower, other than Permitted Subsidiary Preferred Stock. The provisions of this Section 6.05 5.09 will not apply to (w) TransDigm or any of the Restricted Subsidiary Subsidiaries of TransDigm that continues are guarantors pursuant to be a Subsidiary Guarantorthe TransDigm Notes or any Refinancing thereof, (x) any transaction permitted under Section 6.03 as a result of which none of Holdings, neither the Borrower or nor any of its Restricted Subsidiaries will own any Equity Interests Capital Stock of the Restricted Subsidiary whose Preferred Stock is being issued or sold and (y) Preferred Stock that is Disqualified Equity Interests Capital Stock and is issued in compliance with Section 6.015.03.

Limitation on Preferred Stock of Restricted Subsidiaries. The Borrower will not permit any of its Restricted Subsidiaries to issue any Preferred Stock (other than to the Borrower or to a Restricted Subsidiary of the Borrower) or permit any Person (other than the Borrower or a Restricted Subsidiary of the Borrower) to own any Preferred Stock of any Restricted Subsidiary of the Borrower, other than Permitted Subsidiary Preferred Stock. The provisions of this Section 6.05 will not apply to (w) any Restricted of the Subsidiary that continues to be a Subsidiary GuarantorGuarantors, (x) any transaction permitted under Section 6.03 as a result of which none of Holdings, neither the Borrower or nor any of its Restricted Subsidiaries will own any Equity Interests Capital Stock of the Restricted Subsidiary whose Preferred Stock is being issued or sold and (y) Preferred Stock that is Disqualified Equity Interests Capital Stock and is issued in compliance with Section 6.01.