Common use of Outstanding Indebtedness and Preferred Equity; No Defaults Clause in Contracts

Outstanding Indebtedness and Preferred Equity; No Defaults. After giving effect to the consummation of the Transaction, Holdings and its Subsidiaries shall have no outstanding preferred equity or Indebtedness held by third parties (other than Holdings or any of its Subsidiaries), except for indebtedness incurred pursuant to the Debt Financing and any Assumed Indebtedness, and all Capital Stock of the Parent Borrower shall be directly or indirectly owned by Holdings free and clear of Liens (other than those securing the obligations arising under the Loan Documents and the Second-Lien Term Loan Documents). Any other existing Indebtedness shall have been repaid, defeased or otherwise discharged substantially concurrently with or prior to the satisfaction of the other conditions precedent set forth in this subsection 6.1.

Outstanding Indebtedness and Preferred Equity; No Defaults. After giving effect to the consummation of the Transaction, Holdings and its Subsidiaries shall have no outstanding preferred equity or Indebtedness held by third parties (other than Holdings or any of its Subsidiaries), except for indebtedness incurred pursuant to the Debt Financing and any Assumed Indebtedness, and all Capital Stock of the Parent Borrower shall be directly or indirectly owned by Holdings free and clear of Liens (other than those securing the obligations arising under the Loan Documents and the Second-Lien Term ABL Loan Documents). Any other existing Indebtedness shall have been repaid, defeased or otherwise discharged substantially concurrently with or prior to the satisfaction of the other conditions precedent set forth in this subsection 6.15.1.

Outstanding Indebtedness and Preferred Equity; No Defaults. After giving effect to the consummation of the Transaction, Holdings and its Subsidiaries shall have no outstanding preferred equity or Indebtedness of the type described in clause (a) of the definition of “Indebtedness”, in each case held by third parties (other than Holdings or any of its Subsidiaries), except for the Existing Notes, indebtedness incurred pursuant to the Debt Financing this Agreement, and any Assumed Existing Indebtedness, and all Capital Stock of the Parent Borrower shall be directly or indirectly owned by Holdings free and clear of Liens (other than those securing the obligations arising under the Loan Documents and the Second-First Lien Term Loan Last Out Notes Documents). Any other such existing Indebtedness shall have been repaid, defeased or otherwise discharged substantially concurrently with or prior to the satisfaction of the other conditions precedent set forth in this subsection 6.1.

Outstanding Indebtedness and Preferred Equity; No Defaults. After giving effect to the consummation of the Acquisition and the Spinoff/Recapitalization Transaction, Holdings and its Subsidiaries subsidiaries shall have no outstanding preferred equity or Indebtedness for borrowed money, in each case held by third parties (other than Holdings or any of its Subsidiaries)parties, except for indebtedness incurred pursuant to the Debt Financing and any Assumed Existing Indebtedness, . All material terms and all Capital Stock conditions of the Parent Borrower shall be directly or indirectly owned by Holdings free and clear of Liens any Existing Indebtedness (other than those securing any Existing Financing Leases) shall be reasonably satisfactory to the obligations arising under the Loan Documents and the Second-Lien Term Loan Documents)Committed Lenders. Any other existing Indebtedness for borrowed money, other than any such Existing Indebtedness and any Existing Financing Leases, shall have been repaid, defeased or otherwise discharged substantially concurrently with or prior to the satisfaction of the other conditions precedent set forth in this subsection 6.1.