Ownership of Lessee. Guarantor owns, directly or indirectly, and has the right to vote one hundred percent (100%) of the outstanding capital stock of Lessee.
Ownership of Lessee the Guarantor shall cease to own, directly or indirectly, all of the issued and outstanding capital stock of the Lessee; or
Ownership of Lessee. The Lessee is an indirect wholly owned subsidiary of the Guarantor.
Ownership of Lessee. Parent shall at all times maintain ownership of 100% of the issued and outstanding capital stock of each of the Lessees and Construction Agents (including all rights to subscribe for, purchase (including by conversion of any other security) or otherwise acquire any such capital stock), free and clear of all Liens other than a pledge of the all of the issued and outstanding shares of capital stock of Lessees to the Indenture Trustee. SECTION VI.5.
Ownership of Lessee. Not less than fifty percent (50%) of the voting membership interests of the Lessee is owned (directly or indirectly) beneficially and of record by the Guarantor.
Ownership of Lessee. The Guarantor will at all times remain the beneficial owner of all of the outstanding capital stock of the Lessee.
Ownership of Lessee. Guarantor will cause Lessee to do all things ------------------- necessary to preserve and keep in full force and effect its existence and, to the extent necessary to perform Lessee's obligations under the Operative Agreements, Lessee's rights, franchises and authority. At all times prior to the Expiration Date, Guarantor shall (i) own, directly or indirectly, and have the right to vote 100% of all the outstanding voting stock, membership or other equity interests of Lessee and at least 51% (unless such entity is Restricted Subsidiary, then 100%) of all of the outstanding voting stock, membership or other equity interests of each PPL Group Member which is a sublessee pursuant to clause (i)(x) of Article VI of the Lease or, so long as such Lease Supplement is in effect, an assignee of a Lease Supplement pursuant to clause (ii) of Article VI of the Lease (a "Participating PPL Group Member"), in each case determined on ------------------------------ a fully diluted basis after giving effect to the conversion and exercise of all outstanding warrants, options and other securities or interests of Lessee or such Participating PPL Group Member, as applicable, that are convertible into or exercisable for voting stock, membership or other equity interests of Lessee or such Participating PPL Group Member, as applicable, (ii) possess such rights, directly or indirectly, as are necessary to exercise control over Lessee and each such Participating PPL Group Member, and (iii) be, or cause any of its Subsidiaries to be, the managing member of Lessee and, if any such Participating PPL Group Member is a limited liability company, such Participating PPL Group Member. Notwithstanding the foregoing provisions of this Section 15, nothing in this Section 15 shall be deemed to limit, modify or reduce Lessee's obligations and covenants set forth in the Participation Agreement, including at Article IX thereof, or any other Operative Agreement or Guarantor's obligations under this Guarantee with respect thereto.
Ownership of Lessee. All of the Lessee’s capital stock is owned (directly or indirectly) beneficially and of record by the Guarantor.
Ownership of Lessee. The Guarantor shall not at any time cease to own, beneficially and of record, directly or indirectly, less than 50% of the Capital Stock and 50% of the Voting Stock of the Lessee.
Ownership of Lessee. The Guarantor shall own (directly or indirectly) beneficially and of record a majority of the membership interests of the Lessee.
