Operation of Unrestricted Subsidiaries Sample Clauses

Operation of Unrestricted Subsidiaries. The Tenant shall cause each Unrestricted Subsidiary to conduct its business and operations separate and apart from that of any Restricted Subsidiary or the Tenant, including, without limitation, (i) segregating assets of the Tenant and each Restricted Subsidiary from, and not allowing funds or other assets of the Tenant or any Restricted Subsidiary to be commingled with, the funds or other assets of any Unrestricted Subsidiary, (ii) maintaining books and financial records of each Unrestricted Subsidiary separate from the books and financial records of the Tenant or any Restricted Subsidiary, (iii) observing all corporate procedures and formalities in connection with the operation of each Unrestricted Subsidiary, including, without limitation, maintaining minutes of shareholders' and directors' meetings of each Unrestricted Subsidiary, (iv) causing each Unrestricted Subsidiary to pay its liabilities from assets of such Unrestricted Subsidiary or any other Unrestricted Subsidiary, and (v) causing each Unrestricted Subsidiary to conduct its dealings with third parties in its own name and as a separate and independent entity; provided that nothing contained in this Section shall prohibit the Tenant from acting as collection agent and paying agent for an Unrestricted Subsidiary, as long as proper books of account are maintained and reconciled in connection therewith.

Operation of Unrestricted Subsidiaries. The Issuer shall cause each of its Unrestricted Subsidiaries:

Operation of Unrestricted Subsidiaries. The Company shall cause each of its Unrestricted Subsidiaries (i) to maintain continuously articles or a certificate of incorporation or, in the case of a partnership, a partnership agreement, providing that (a) such Unrestricted Subsidiary's purpose is limited and, in the case of AULP, that such purpose is limited to conducting the business contemplated by the Fiber Construction Agreements, (b) such Unrestricted Subsidiary is prohibited from engaging in any dissolution, liquidation, merger, consolidation or sale, transfer, assignment, lease, conveyance or other disposal of all or substantially all of its Property in any one transaction or series of transactions as long as any Indebtedness under the Fiber Construction Facility remains outstanding, other than (1) any such transaction with or into the Company or any of its Restricted Subsidiaries otherwise effected and in accordance with the terms of this Indenture, (2) any such transaction with or into another Unrestricted Subsidiary and (3) any such transaction which, assuming for purposes of this clause (3) only that such Unrestricted Subsidiary were a Restricted Subsidiary, would comply with Section 4.17; PROVIDED, HOWEVER, that any Net Available Cash derived therefrom may also be used to prepay, repay or purchase Indebtedness under the Fiber Construction Facility and (c) the Board of Directors of such Unrestricted Subsidiary or, in the case of a partnership, of the corporate general partner of such partnership, shall consist of not less than one independent director; (ii) to maintain separate books and records including, without limitation, separate financial statements; (iii) not to commingle any of its properties or assets with the properties or assets of the Company or any Restricted Subsidiary; (iv) to pay its liabilities, the salaries of its employees and all consultant and advisor fees and expenses directly out of funds that do not comprise in whole or in part the funds of the Company or any of its Restricted Subsidiaries and (v) otherwise to hold itself out as a separate entity.