Common use of Ownership of Obligors Clause in Contracts

Ownership of Obligors. At all times (unless the Lenders have provided their written consent): (a) the Parent shall own, directly or indirectly, 100% of the membership interests in the Borrower and each Owner; (b) at all times prior to any Permitted IPO, the Permitted Holder shall own, directly or indirectly, at least 40% of the share capital in the Parent; (c) the managing member of an Owner shall be the Borrower; and (d) the managing member of the Borrower shall be the Parent.

Ownership of Obligors. At all times (unless the Lenders have provided their written consent): (a) the Parent shall own, directly or indirectly, 100% of the membership interests in the Borrower and each Owner; (b) at all times prior to any Permitted IPO, the Permitted Holder shall own, directly or indirectly, at least 40% of the share capital in the Parent; (c) the managing member of an Owner shall be the Borrower; and (dc) the managing member of the Borrower shall be the Parent.

Ownership of Obligors. At all times (unless the Lenders have provided their written consent): (a) the Ultimate Parent shall own, directly or indirectly, own 100% of the membership interests shares in the Borrower and each OwnerParent; (b) the Parent shall directly own 100% of the shares in each Borrower; (c) at all times prior to any Permitted IPO, the Permitted Holder shall own, directly or indirectly, at least 40% of the share capital in the Ultimate Parent; (cd) there shall be no Change of Control (Borrowers); and (e) the managing member of an Owner shall be the Borrower; and (d) the managing member of the each Borrower shall be the Ultimate Parent.

Ownership of Obligors. At all times (unless the Lenders have provided their written consent): (a) the Parent shall own, directly or indirectly, 100% of the membership interests shares in the Borrower and each Owner; (b) at all times prior to any Permitted IPO, the Permitted Holder shall own, directly or indirectly, at least 40% of the share capital in the Parent; (c) the managing member of an Owner shall be the Borrower; and (dc) the managing member of the Borrower shall be the Parent.