Common use of Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries Clause in Contracts

Limitation on the Issuance and Sale 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 of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: (i) to the Company or a Wholly Owned Restricted Subsidiary; (ii) issuances of director's qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided any Investment in such Person remaining after giving effect to such issuance or sale would have been permitted to be made under Section 4.04, if made on the date of such issuance or sale; and (iv) issuances or sales of Common Stock of any Restricted Subsidiary, the Net Cash Proceeds of which are promptly applied pursuant to clause (i)(A) or (i)(B) of the second paragraph of Section 4.10 of this Indenture; provided that at no time may a Restricted Subsidiary, the Common Stock of which his been issued or sold pursuant to this clause (iv), be the owner of a satellite.

Appears in 5 contracts

Samples: Senior Notes Indenture (Loral Space & Communications LTD), Senior Notes Indenture (Loral Space & Communications LTD), Senior Notes Indenture (Loral Cyberstar Inc)

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Limitation on the Issuance and Sale 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 of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: except (i) to the Company or a Wholly Owned Restricted Subsidiary; ; (ii) issuances of director's qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; ; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided 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 4.04, 4.04 hereof if made on the date of such issuance or sale; and (iv) issuances a pledge or hypothecation of or Lien on any Capital Stock of a Subsidiary to the extent not prohibited under Section 4.09 hereof; or (v) sales by the Company or Restricted Subsidiaries of Common Stock of any Restricted Subsidiary, the Net Cash Proceeds of which are promptly applied pursuant to clause (i)(A) or (i)(B) of the second paragraph of Section 4.10 of this Indenture; provided that at no time may a Restricted Subsidiary, PROVIDED that the Common Stock Company or such Restricted Subsidiaries apply the Net Cash Proceeds, if any, of which his been issued or sold pursuant to this any such sale in accordance with clause (iv), be the owner A) or (B) of a satelliteSection 4.11 hereof.

Appears in 3 contracts

Samples: Senior Euro Notes Indenture (Viatel Inc), Senior Euro Notes Indenture (Viatel Inc), Senior Dollar Notes Indenture (Viatel Inc)

Limitation on the Issuance and Sale 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 of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: except (i) to the Company or a Wholly Owned Restricted Subsidiary; ; (ii) issuances of director's qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; ; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided ; PROVIDED that any Investment in such Person remaining after giving effect to such issuance or sale would have been permitted to be made under Section 4.04, if made on the date of such issuance or sale; and (iv) issuances or sales of Common Stock of any Restricted SubsidiaryStock, the Net Cash Proceeds net cash proceeds of which which, if any, are promptly applied pursuant to clause (i)(AA) or (i)(BB) of the second paragraph of Section 4.10 of this Indenture4.11; provided that at no time may a Restricted Subsidiary, the Common Stock of which his been issued or sold pursuant to this clause (iv), be the owner of a satellite.and

Appears in 2 contracts

Samples: Indenture (Econophone Inc), Indenture (Econophone Inc)

Limitation on the Issuance and Sale 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 of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: (i) to the Company or a Wholly Owned Restricted Subsidiary; (ii) issuances of director's qualifying shares or issuances or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided 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 4.04, 4.04 if made on the date of such issuance or sale; andor (iv) issuances or sales of Common Stock of any Restricted Subsidiary, the Net Cash Proceeds of which are promptly applied pursuant to clause (i)(A) or (i)(B) of the second paragraph of Section 4.10 of this Indenture; provided that at no time may a Restricted Subsidiary, provided that the Common Stock Company or such Restricted Subsidiary applies the Net Cash Proceeds, if any, of which his been issued or sold pursuant to this any such sale in accordance with clause (iv), be the owner A) or (B) of a satelliteSection 4.11 of this Indenture.

Appears in 2 contracts

Samples: Indenture (Carrier1 International S A), Indenture (Carrier1 International S A)

Limitation on the Issuance and Sale 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 of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: except (i) to the Company or a Wholly Owned Restricted Subsidiary; ; (ii) issuances of director's qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; ; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided any Investment in such Person remaining after giving effect to such issuance or sale would have been permitted to be made under Section 4.0413.6, if made on the date of such issuance or sale; and and (iv) issuances or sales of Common Stock of any Restricted Subsidiary, the Net Cash Proceeds of which are promptly applied pursuant to clause (i)(A) or (i)(B) of the second paragraph of Section 4.10 13.11 of this IndentureAgreement; provided that at no time may a Restricted Subsidiary, the Common Stock of which his has been issued or sold pursuant to this clause (iv), be the owner of a satellite.

Appears in 2 contracts

Samples: Debenture Purchase Agreement (British Aerospace Holdings Inc), Debenture Purchase Agreement (Orion Newco Services Inc)

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Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. The Company Guarantor will not sell, and will not permit any Restricted SubsidiarySubsidiary (other than the Company), directly or indirectly, to issue or sell, any shares of Capital Stock of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: except (i) to the Company Guarantor or a Wholly Owned Restricted Subsidiary; , (ii) issuances of director's ’s qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; , (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided 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 4.04, 4.04 if made on the date of such issuance or sale; and sale or (iv) issuances or sales of Common Stock of any Restricted Subsidiarythat has no preference with respect to dividends or upon liquidation, the Net Cash Proceeds of which are promptly applied pursuant to as provided in clause (i)(AA) or (i)(BB) of the second first paragraph of Section 4.10 of this Indenture; provided that at no time may a Restricted Subsidiary, the Common Stock of which his been issued or sold pursuant to this clause (iv), be the owner of a satellite4.11.

Appears in 1 contract

Samples: Senior Notes Indenture (Kansas City Southern)

Limitation on the Issuance and Sale 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 of a Restricted Subsidiary (including options, warrants or other rights to purchase shares of such Capital Stock) except: except (i) to the Company or a Wholly Wholly-Owned Restricted Subsidiary; ; (ii) issuances of director's qualifying shares or sales to foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law; ; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary, provided 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 4.04, 4.04 hereof if made on the date of such issuance or sale; and or (iv) issuances or sales of Common Stock (including options, warrants or other rights to purchase shares of any Common Stock) of a Restricted Subsidiary, PROVIDED that the Company or any Restricted Subsidiary applies an amount equal to the Net Cash Proceeds of which are promptly applied pursuant to clause (i)(A) or (i)(B) of the second paragraph of thereof in accordance with Section 4.10 of this Indenture; provided that at no time may a Restricted Subsidiary, the Common Stock of which his been issued or sold pursuant to this clause (iv), be the owner of a satellite4.11 hereof.

Appears in 1 contract

Samples: Indenture (KMC Telecom Holdings Inc)

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