Common use of Ownership of Subsidiaries; Restrictions Clause in Contracts

Ownership of Subsidiaries; Restrictions. The Borrower will not, nor will it permit any Subsidiary to, create, form or acquire any Subsidiaries, except for Domestic Subsidiaries which are joined as Additional Credit Parties in accordance with the terms hereof. The Borrower will not sell, transfer, pledge or otherwise dispose of any Capital Stock or other equity interests in any of its Subsidiaries, nor will it permit any of its Subsidiaries to issue, sell, transfer, pledge or otherwise dispose of any of their Capital Stock or other equity interests, except in a transaction permitted by Section 6.5.

Appears in 5 contracts

Samples: Credit Agreement (TTM Technologies Inc), Credit Agreement (Dan River Inc /Ga/), Credit Agreement (TTM Technologies Inc)

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Ownership of Subsidiaries; Restrictions. The Borrower will not, nor will it permit any Subsidiary to, create, form or acquire any Subsidiaries, except for Domestic Subsidiaries which are joined as Additional Credit Parties in accordance with the terms hereof. The Borrower will not sell, transfer, pledge or otherwise dispose of any Capital Stock or other equity interests in any of its Subsidiaries, nor will it permit any of its Subsidiaries to issue, sell, transfer, pledge or otherwise dispose of any of their Capital Stock or other equity interests, except in a transaction permitted by Section 6.56.

Appears in 3 contracts

Samples: Credit Agreement (Intermagnetics General Corp), Credit Agreement (Intermagnetics General Corp), Credit Agreement (Intermagnetics General Corp)

Ownership of Subsidiaries; Restrictions. The Borrower will not, nor will it permit any Subsidiary to, createCreate, form or acquire any Subsidiaries, except for (a) Domestic Subsidiaries which are joined as Additional Credit Parties in accordance with the terms hereofhereof and (b) Immaterial Subsidiaries, subject to the terms of Section 5.10. The Borrower Credit Parties will not sell, transfer, pledge or otherwise dispose of any Capital Stock or other equity interests in any of its Subsidiaries, nor will it permit any of its Subsidiaries to issue, sell, transfer, pledge or otherwise dispose of any of their Capital Stock or other equity interests, except in a transaction permitted by Section 6.56.5(a).

Appears in 3 contracts

Samples: Credit Agreement (Nci Building Systems Inc), Credit Agreement (Nci Building Systems Inc), Credit Agreement (Nci Building Systems Inc)

Ownership of Subsidiaries; Restrictions. The Borrower will not, nor and will it not permit any Subsidiary to, create, form or acquire any Subsidiaries, except for Domestic Subsidiaries which are joined as Additional Credit Parties in accordance with the terms hereofwholly-owned Subsidiaries. The Borrower will not, and will not permit any Subsidiary to, sell, transfer, pledge or otherwise dispose of any Capital Stock or other equity interests in any of its Subsidiaries, nor will it it, or permit any of its Subsidiaries to Subsidiary to, issue, sell, transfer, pledge or otherwise dispose of any of their its Capital Stock or other equity interests, except in as required by the Credit Documents or pursuant to a transaction permitted by Section 6.56.5(a)(iv).

Appears in 2 contracts

Samples: Credit and Security Agreement (Sun Hydraulics Corp), Credit and Security Agreement (Sun Hydraulics Corp)

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Ownership of Subsidiaries; Restrictions. The Borrower Company will not, nor will it permit any Subsidiary to, create, form or acquire any Subsidiaries, except for Domestic Subsidiaries which are joined as Additional Credit Parties in accordance with the terms hereof. The Borrower Company will not sell, transfer, pledge or otherwise dispose of any Capital Stock or other equity interests in any of its Subsidiaries, nor will it permit any of its Subsidiaries to issue, sell, transfer, pledge or otherwise dispose of any of their Capital Stock or other equity interests, except in a transaction permitted by Section 6.5.

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

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