No Additional Subsidiaries. No Credit Party shall, or shall permit any of its Subsidiaries to, directly or indirectly, form or acquire any new Subsidiaries.
No Additional Subsidiaries. Neither the Borrowers nor any of their Subsidiaries shall hereafter create or acquire any Subsidiary or divest itself of any material assets by transferring them to any Subsidiary. In the event that, with the Required Lenders' prior written consent, a Borrower acquires or creates any Subsidiary which is a Domestic Subsidiary, then, promptly (and in any event within 10 Domestic Business Days) upon the acquisition or creation thereof, such Borrower shall cause such Subsidiary to execute and deliver to the Agent:
(i) a joinder agreement with respect this Credit Agreement, the Contribution Agreement and the Consent and Agreement of the Borrowers at the end of the Intercreditor Agreement, (ii) Notes payable to the Banks, (iii) if it owns any capital stock of another Domestic Subsidiary, a joinder agreement with respect to the Domestic Stock Pledge Agreement, together with blank stock powers and the stock certificates, (iv) if it owns any capital stock of a Direct Foreign Subsidiary, a joinder agreement with respect to the Foreign Stock Pledge Agreement, together with blank stock powers and the stock certificates (or otherwise make arrangements satisfactory to the Agent for the registration or other perfection of its security interest), (v) if it owns any Real Property and if requested by the Required Lenders, a Mortgage thereon and such other Real Property Documentation with respect thereto as is requested by the Required Lenders (provided, that such Mortgage and other Real Property Documentation must be furnished as soon as reasonably practicable, but need not be furnished within the aforesaid 10 Domestic Business Days period), (vi) such UCC-1 financing statements as the Agent may reasonably request and (vii) evidence of corporate authority therefor and opinions of counsel with respect thereto, all satisfactory to the Agent in all respects, in the case of such Security Documents, granting to the Collateral Agent a first priority perfected Lien in all of the assets of such Domestic Subsidiary subject only to Permitted Encumbrances.
No Additional Subsidiaries. The Borrower shall not form or -------------------------- acquire any new Subsidiaries, other than the License Subsidiary.
No Additional Subsidiaries. Borrower shall not and shall not permit any of its Subsidiaries to, directly or indirectly, form or acquire any new Subsidiaries.
No Additional Subsidiaries. The Company will not, and shall not permit any of its Subsidiaries (other than Foreign Subsidiaries) to, directly or indirectly, form or acquire any new Subsidiaries, including Foreign Subsidiaries, unless, and subject to the limitations of Section 9.3 hereof, (i) with respect to Foreign Subsidiaries, the capital stock thereof owned by the Company shall be pledged as part of the Collateral except in the case of Foreign Subsidiaries constituting "Controlled Foreign Corporations" as referenced in Section 5.12(c) hereof, in which case Company shall not be required to pledge hereunder or under the other Note Documents more than 65% of the total combined voting power of all classes of capital stock of such Foreign Subsidiary entitled to vote, and (ii) with respect to all other Subsidiaries, the capital stock thereof shall be pledged as part of the Collateral. Not later than the time any Subsidiary of the Company becomes obligated in any manner for any of the Obligations of the Company under the Revolving Credit Agreement or grants a security interest in any of its assets to secure any such Obligations, the Company shall cause such Subsidiary to guaranty the Obligations of the Company under this Agreement pursuant to a guaranty in form and substance satisfactory to the Purchaser and to enter into one or more security agreements in form and substance satisfactory to the Purchaser to secure such Subsidiary's Obligations under such guaranty. Notwithstanding anything herein to the contrary, the covenants of this Section 9.14 shall not restrict the formation of, and shall not apply with respect to, any Subsidiary formed as a "bankruptcy remote" subsidiary or trust in connection with a Royalties Securitization.
No Additional Subsidiaries. Neither the Borrower nor any of the Subsidiary Guarantors shall hereafter create or acquire any Subsidiary or divest itself of any material assets by transferring them to any Subsidiary, except for (i) the transfer of certain Accounts Receivable Collateral to the Special Purpose Subsidiary pursuant to the Securitization Documents and (ii) transfers by Thomas & Betts International, Inc. of its interests in Subsidiaries xxxxx are xxx Domestic Subsidiaries. In the event that, with the Required Lenders' prior written consent, the Borrower acquires or creates any other Domestic Subsidiary, then, promptly upon the acquisition or creation thereof, the Borrower shall cause such Domestic Subsidiary to execute and deliver to the Agent a supplement to the Subsidiary Guaranty and a supplement to the Subsidiary Security Agreement, evidence of corporate authority therefor, and opinions of counsel with respect thereto, all satisfactory to the Agent granting to the Agent a first priority perfected Lien in all of the Inventory Collateral, the Equipment Collateral and the Accounts Receivable Collateral of such Domestic Subsidiary subject only to Permitted Encumbrances.
No Additional Subsidiaries. Other than the Subsidiaries set out in Schedule 5, Tech Team does not have any subsidiaries or agreements of any nature to acquire any subsidiary or to acquire or lease any other business operations and will not, prior to the Closing Date, acquire, or agree to acquire, any subsidiary or business operations without the prior written consent of Pubco.
No Additional Subsidiaries. The Company shall not, and shall not permit any Subsidiary to, directly or indirectly, incorporate, form or acquire any new Subsidiaries or purchase or otherwise acquire all or substantially all of the assets of any Person.
No Additional Subsidiaries. 37 SECTION 10. EVENTS OF DEFAULT; ACCELERATION.............................................37
No Additional Subsidiaries. The Company shall not form -------------------------- or acquire any new Subsidiaries, other than the License Subsidiary.
