Common use of No Restrictions on Subsidiaries Clause in Contracts

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to the Company and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generally, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interests, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material Subject to the Company requirements of applicable law and its subsidiaries taken as a whole or the availability of distributable reserves (in such jurisdictions where relevant restrictions under law applicable to bank holding companies and their subsidiaries generallyapply), no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsinterest, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to the Company and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generally, no No subsidiary of the Company (including the Operating Partnership) is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, except for agreements with respect to the Company’s existing secured debt financing arrangements and management and franchise agreements and as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to the Company and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generally, no No subsidiary of the Company (including the Operating Partnership) is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, except for agreements with respect to the Company’s revolving credit facility and management and franchise agreements and as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to as described in each of the Company Registration Statement, the Pricing Disclosure Package and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generallythe Prospectus, no subsidiary of the Company is currently prohibitedprohibited or restricted, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, or from making any other distribution on with respect to such subsidiary’s capital stock equity securities or similar ownership interests, from repaying to the Company or any other subsidiary of the Company any amounts that may from time to time become due under any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties property or assets to the Company or to any other subsidiary of the Company, except as may be prohibited or restricted by law.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to the Company and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generally, no No subsidiary of the Company is currently prohibitedprohibited (except as may be limited by applicable laws of the jurisdictions of such subsidiary’s incorporation or formation and as set forth in the Registration Statement and the Prospectus), directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s share capital stock or similar ownership interestsinterest, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except as otherwise disclosed in the Registration Statement or Prospectus, and except for such prohibitions that would not be material to the Company encumbrances and its subsidiaries taken as a whole restrictions described under “Description of notes – Certain covenants – Limitation or restrictions under law applicable to bank holding companies and their subsidiaries generallyon distributions from restricted subsidiaries”, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company, except for any non-material encumbrances or restrictions.

No Restrictions on Subsidiaries. Except as otherwise disclosed in the Registration Statement or Prospectus, and except for such prohibitions that would not be material to the Company encumbrances and its subsidiaries taken as a whole restrictions described under “Description of notes—Certain covenants—Limitation or restrictions under law applicable to bank holding companies and their subsidiaries generallyon distributions from restricted subsidiaries”, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company, except for any non-material encumbrances or restrictions.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material as otherwise described in the Prospectus, Registration Statement or Time of Sale Materials or, with respect to the Company Company’s Insurance Subsidiaries (as defined below), for insurance regulatory laws and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and regulations of general application in their subsidiaries generallyrespective states of domicile, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that as disclosed in the General Disclosure Package, and except as would not be material otherwise materially restrict any subsidiary from paying dividends to the Company and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generallyCompany, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subjectsubject or under the current laws and regulations of the jurisdiction of its organization, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to the Company and its subsidiaries taken as a whole or restrictions under law applicable to bank holding companies and their subsidiaries generally, no No subsidiary of the Company (including the Operating Partnership) is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, except for agreements with respect to the Company’s $115 million revolving credit facility and management and franchise agreements and as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

No Restrictions on Subsidiaries. Except for such prohibitions that would not be material to the Company and its subsidiaries taken as a whole or any restrictions under law any applicable to bank holding companies and their subsidiaries generallycorporate, limited partnership, limited liability company or other similar organizational law, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsinterest, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company, in each case except as disclosed in each of the Registration Statement, the Time of Sale Information and the Prospectus.

No Restrictions on Subsidiaries. Except for such prohibitions any limitation that would not be material to not, individually or in the Company and its subsidiaries taken as aggregate, have a whole Material Adverse Effect or restrictions under law applicable to bank holding companies and their subsidiaries generallywould materially adversely affect the Company’s liquidity or working capital, no subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or similar ownership interestsstock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company.