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. Neither FelCor LP nor FelCor shall sell, and neither FelCor LP nor FelCor shall permit any of their respective Restricted Subsidiaries, 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 FelCor LP, FelCor or a Wholly Owned Restricted Subsidiary; (ii) issuances of director’s qualifying shares or sales to individuals of shares of Restricted Subsidiaries, to the extent required by applicable law or to the extent necessary to obtain local liquor licenses; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a 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 if made on the date of such issuance or sale; or (iv) sales of not greater than 20% of the Capital Stock of a newly-created Restricted Subsidiary made in connection with, or in contemplation of, the acquisition or development by such Restricted Subsidiary of one or more properties to any Person that is, or is an Affiliate of, the entity that provides, franchise, management or other services, as the case may be, to one or more properties owned by such Restricted Subsidiary.

Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. Neither FelCor LP nor FelCor The Company and the Parent Guarantor jointly and severally agree that the Company and the Parent Guarantor shall not sell, and neither FelCor LP nor FelCor shall not permit any Restricted Subsidiary of their respective Restricted Subsidiarieseither the Company or the Parent Guarantor, 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 FelCor LPthe Company, FelCor the Parent Guarantor or a Wholly Owned Restricted Subsidiary; ; (ii) issuances of director’s qualifying shares or sales to individuals foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law or to the extent necessary to obtain local liquor licenses; law; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute 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 4.04 if made on the date of such issuance or sale; or or (iv) issuances or sales of not greater than 20% of the Capital Common Stock of a newly-created Restricted Subsidiary made in connection withSubsidiary; provided, however, that the Company or in contemplation of, the acquisition or development by such Restricted Subsidiary applies the Net Cash Proceeds, if any, of one or more properties to any Person that is, or is an Affiliate of, the entity that provides, franchise, management or other services, as the case may be, to one or more properties owned by such Restricted Subsidiarysale in compliance with Section 4.11.

Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. Neither FelCor LP nor FelCor The Issuer shall not sell, and neither FelCor LP nor FelCor shall not permit any of their respective Restricted SubsidiariesSubsidiary, 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: (ia) to FelCor LP, FelCor the Issuer or a Wholly Owned Restricted Subsidiary; (iib) issuances of director’s qualifying shares or sales to individuals foreign nationals of shares of Capital Stock of foreign Restricted Subsidiaries, to the extent required by applicable law or to the extent necessary to obtain local liquor licenseslaw; (iiic) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute 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 4.04 4.3 if made on the date of such issuance or sale; or (ivd) sales of not greater than 20% common stock (including options, warrants or other rights to purchase shares of the Capital Stock such common stock) of a newly-created Restricted Subsidiary made in connection withby the Issuer or a Restricted Subsidiary, provided that the Issuer or in contemplation of, the acquisition or development by such Restricted Subsidiary applies the Net Cash Proceeds of one any such sale in accordance with clause (b)(i) or more properties to any Person that is, or is an Affiliate of, the entity that provides, franchise, management or other services, as the case may be, to one or more properties owned by such Restricted Subsidiary(b)(ii) of Section 4.18.

Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. Neither FelCor LP nor FelCor shall The Borrower will not sell, and neither FelCor LP nor FelCor shall will not permit any of their respective Restricted SubsidiariesSubsidiary, 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 FelCor LP, FelCor the Borrower or a Wholly Owned Restricted Subsidiary; (ii) issuances of director’s qualifying shares or sales to individuals foreign nationals of shares of Restricted SubsidiariesCapital Stock of any Subsidiary that is not organized under the laws of a jurisdiction located in the United States of America, to the extent required by applicable law or to the extent necessary to obtain local liquor licenseslaw; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute 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 4.04 5.02(f) if made on the date of such issuance or sale; or (iv) sales of not greater than 20% of the Capital Stock (including options, warrants or other rights to purchase shares of such Capital Stock) of a newly-created Restricted Subsidiary made in connection withby the Borrower or a Restricted Subsidiary, provided that the Borrower or in contemplation of, the acquisition or development by such Restricted Subsidiary applies the Net Cash Proceeds of one or more properties to any Person that is, or is an Affiliate of, the entity that provides, franchise, management or other services, as the case may be, to one or more properties owned by such Restricted Subsidiarysale in accordance with Sections 5.02(d)(ii)(A) and (B).

Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. Neither FelCor LP nor FelCor shall sell, and neither FelCor LP nor FelCor shall permit any of their respective Restricted Subsidiaries, 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 FelCor LP, FelCor or a Wholly Owned Restricted Subsidiary; (ii) issuances of director’s 's qualifying shares or sales to individuals of shares of Restricted Subsidiaries, to the extent required by applicable law or to the extent necessary to obtain local liquor licenses; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a 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 if made on the date of such issuance or sale; or (iv) sales of not greater than 20% of the Capital Stock of a newly-created Restricted Subsidiary made in connection with, or in contemplation of, the acquisition or development by such Restricted Subsidiary of one or more properties to any Person that is, or is an Affiliate of, the entity that provides, franchise, management or other services, as the case may be, to one or more properties owned by such Restricted Subsidiary.

Limitation on the Issuance and Sale of Capital Stock of Restricted Subsidiaries. Neither FelCor LP nor FelCor shall sell, and neither FelCor LP nor FelCor shall permit any of their respective Restricted Subsidiaries, 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 FelCor LP, FelCor or a Wholly Wholly-Owned Restricted Subsidiary; (ii) issuances of director’s 's qualifying shares or sales to individuals of shares of Restricted Subsidiaries, to the extent required by applicable law or to the extent necessary to obtain local liquor licenses; (iii) if, immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Subsidiary and any Investment in such Person remaining after giving effect to -45- 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; or (iv) sales of not greater than 20% of the Capital Stock of a newly-created Restricted Subsidiary made in connection with, or in contemplation of, the acquisition or development by such Restricted Subsidiary of one or more properties to any Person that is, or is an Affiliate of, the entity that provides, franchise, management or other services, as the case may be, to one or more properties owned by such Restricted Subsidiary.