Common use of Maintenance of Ownership of Subsidiaries Clause in Contracts

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.03, the Company will not, and will not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the Company's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the Company's Material Subsidiaries.

Appears in 4 contracts

Samples: Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD)

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Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.036.4, the Company will Borrower shall not, and will shall not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the Company's Material Borrower’s Subsidiaries or permit any Subsidiary of the Company to issue, sell sell, or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the Company's Material Borrower’s Subsidiaries.

Appears in 4 contracts

Samples: Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp)

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.036.04, the Company will Borrower shall not, and will shall not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the CompanyBorrower's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell sell, or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the CompanyBorrower's Material Subsidiaries.

Appears in 4 contracts

Samples: Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp)

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.036.4, the Company will Borrower shall not, and will shall not permit any of its Restricted Subsidiaries to, sell Dispose of any shares of Capital Stock of any of the Borrower’s Restricted Subsidiaries or permit any Restricted Subsidiary to issue, sell, or otherwise dispose of any shares of capital stock its Capital Stock or the Capital Stock of any of the Company's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the Company's Material Borrower’s Restricted Subsidiaries.

Appears in 2 contracts

Samples: Credit Agreement (Stone Energy Corp), Credit Agreement (Stone Energy Corp)

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.036.4, the Company will Borrower shall not, and will shall not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the CompanyBorrower's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell sell, or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the CompanyBorrower's Material Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Stone Energy Corp)

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.03, the Company The Borrower will not, and will not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the Company's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the Company's Material SubsidiariesGuarantor.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

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Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.03for issuances, sales or other dispositions to the Borrower or a wholly-owned Subsidiary of the Borrower, the Company Borrower will not, and will not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the CompanyBorrower's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell sell, or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the CompanyBorrower's Material Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Advance Paradigm Inc)

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.03, the Company The Borrower will not, and will not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of Guarantor; provided that nothing herein shall prohibit the Company's Material Subsidiaries or permit Borrower from merging any Subsidiary into the Borrower or a Guarantor or from dissolving any Subsidiary which has no assets on the date of the Company to issue, sell or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the Company's Material Subsidiariesdissolution.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Maintenance of Ownership of Subsidiaries. Except as permitted by Section 6.036.04 or disclosed on Schedule 4.18, the Company Borrower will not, and will not permit any of its Subsidiaries to, sell or otherwise dispose of any shares of capital stock of any of the CompanyBorrower's Material Subsidiaries or permit any Subsidiary of the Company to issue, sell or otherwise dispose of (other than to its parent) any shares of its capital stock or the capital stock of any of the CompanyBorrower's Material Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Equity Corp International)

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