Common use of Ownership Provision Clause in Contracts

Ownership Provision. (i) Notwithstanding any other provision of the Margin Loan Documentation to the contrary, in no event shall Secured Party or any Agented Lender be entitled to acquire, receive, vote or exercise any other rights of a secured party in respect of any Relevant Collateral Shares to the extent (but only to the extent) that immediately upon giving effect to such acquisition, receipt or exercise of such rights: (A) the Beneficial Ownership by any Secured Party Person or any Lender Person of (i) Common Shares would be equal to or greater than 9.0% of the number of the total outstanding Common Shares or (ii) Voting Equity Interests would be equal to or greater than 9.0% of the total outstanding Voting Equity Interests; or (B) any Secured Party Person or Lender Person under any federal, state or local laws, rules, regulations or regulatory orders or any provisions of the Organization Documents of Issuer or any agreement to which Pledgor or any Affiliate thereof or Issuer is a party, in each case, (x) applicable to ownership of any type of Collateral and (y) as to which Secured Party has delivered irrevocable written notice to Pledgor of its election for this clause (B) to apply (“Applicable Restrictions”), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of units of such type of Collateral equal to: (i) the number of units of such type of Collateral that would give rise to any reporting or registration obligation or other requirement (including obtaining prior approval by any Person or entity) of such Secured Party Person or such Lender Person, as applicable, or would result in an adverse effect on such Secured Party Person or such Lender Person, as applicable, under any Applicable Restriction, as determined by Secured Party in its reasonable discretion, in each case minus (ii) 1.0% of the number of the total outstanding units of such type of Collateral; (each of paragraphs (A) and (B) above, an “Ownership Limitation”). (ii) The inability of Secured Party or any Agented Lender to acquire, receive or exercise rights with respect to any Relevant Collateral Shares as provided above at any time as a result of an Ownership Limitation shall not preclude Secured Party or any Agented Lender from taking such action at a later time when no such Ownership Limitation is then existing or would result under this provision. Notwithstanding any other provision of the Margin Loan Documentation to the contrary, each Secured Party Person and each Lender Person shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Collateral that Secured Party or the Agented Lender, as the case may be, is not entitled to acquire or receive, or exercise any other rights of a secured party in respect of, at any time pursuant to this Ownership Provision, until such time as Secured Party or such Agented Lender, as the case may be, is not prohibited from acquiring, receiving or exercising such rights in respect thereof under this Ownership Provision, and any such acquisition, receipt or exercise of such rights shall be void and have no effect to the extent (but only to the extent) that Secured Party or such Agented Lender, as the case may be, is so prohibited.

Ownership Provision. (i) Notwithstanding any other provision of the Margin Loan Documentation to the contrary, in no event shall Secured Party an Applicable Lender or any Agented Lender be entitled to acquire, receive, vote or exercise any other rights of a secured party an Applicable Lender in respect of any Relevant such Collateral Shares to the extent (but only to the extent) that immediately upon giving effect to such acquisition, receipt or exercise of such rights: (A) it would cause such Applicable Lender Person or, in the case of an Agented Lender, Lender Person to have Beneficial Ownership by any Secured Party Person or any Lender Person of (i) Common Shares would be equal to or greater than 9.0% of the number of the total outstanding Common Shares or (ii) Voting Equity Interests would be equal to or greater than 9.0% of the total outstanding Voting Equity InterestsIssuer; or (B) any Secured Party Person or Applicable Lender Person or, in the case of an Agented Lender, any Lender Person, under any federal, state or local laws, rules, regulations or regulatory orders or any provisions of the Organization Documents of Issuer or any agreement to which Pledgor the Grantor or any Affiliate thereof or Issuer is a party, in each case, (x) applicable to ownership of any type of Collateral and (y) as to which Secured Party has delivered irrevocable written notice to Pledgor of its election for this clause (B) to apply Shares (“Applicable Restrictions”’’), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of units of such type of Collateral Shares equal to: (i) the number of units of such type of Collateral Shares that would give rise to any reporting or registration obligation or other requirement (including obtaining prior approval by any Person or entity) of such Secured Party Applicable Lender Person or such Lender Person, as applicable, or would result in an adverse effect on such Secured Party Applicable Lender Person or such Lender Person, as applicable, under any Applicable Restriction, as determined by Secured Party such Applicable Lender in its reasonable discretion, in each case minus (ii) 1.01% of the number of the total outstanding units of such type of Collateral; relevant Shares (each of paragraphs (A) and (B) above, an “Ownership Limitation”). (ii) The inability of Secured Party an Applicable Lender or any Agented Lender to acquire, receive or exercise rights with respect to any Relevant Collateral Shares as provided above at any time as a result of an Ownership Limitation shall not preclude Secured Party such Applicable Lender or any Agented Lender from taking such action at a later time when no such Ownership Limitation is then existing or would result under this provision. Notwithstanding any other provision of the Margin Loan Documentation to the contrary, each Secured Party Applicable Lender Person and each Lender Person shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Collateral Shares that Secured Party such Applicable Lender or the Agented Lender, as the case may be, is not entitled to acquire or receive, or exercise any other rights of a secured party an Applicable Lender or an Agented Lender in respect ofhereof, at any time pursuant to this Ownership Provision, until such time as Secured Party such Applicable Lender or such Agented Lender, as the case may be, is not prohibited from acquiring, receiving or exercising such rights in respect thereof under this an Ownership Provision, and any such acquisition, receipt or exercise of such rights shall be void and have no effect to the extent (but only to the extent) that Secured Party such Applicable Lender or such Agented Lender, as the case may be, is so prohibited.

Ownership Provision. (i) Notwithstanding any other provision of the Margin Loan Documentation to the contrary, in no event shall Secured Party or any Agented Lender be entitled to acquire, receive, vote or exercise any other rights of a secured party in respect of any Relevant Collateral Shares to the extent (but only to the extent) that immediately upon giving effect to such acquisition, receipt or exercise of such rights: (A) the Beneficial Ownership by any Secured Party Person or any Lender Person of (i) Common Shares would be equal to or greater than 9.0% of the number of the total outstanding Common Shares or (ii) Voting Equity Interests would be equal to or greater than 9.0% of the total outstanding Voting Equity Interests; or (B) any Secured Party Person or Lender Person under any federal, state or local laws, rules, regulations or regulatory orders or any provisions of the Organization Documents of Issuer or any agreement to which Pledgor or any Affiliate thereof or Issuer is a party, in each case, (x) applicable to ownership of any type of Collateral and (y) as to which Secured Party has delivered irrevocable written notice to Pledgor of its election for this clause (B) to apply (“Applicable Restrictions”), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of units of such type of Collateral equal to: (i) the number of units of such type of Collateral that would give rise to any reporting or registration obligation or other requirement (including obtaining prior approval by any Person or entity) of such Secured Party Person or such Lender Person, as applicable, or would result in an adverse effect on such Secured Party Person or such Lender Person, as applicable, under any Applicable Restriction, as determined by Secured Party in its reasonable discretion, in each case minus (ii) 1.0% of the number of the total outstanding units of such type of Collateral; (each of paragraphs (A) and (B) above, an “Ownership Limitation”). (ii) The inability of Secured Party or any Agented Lender to acquire, receive or exercise rights with respect to any Relevant type of Collateral Shares as provided above at any time as a result of an Ownership Limitation shall not preclude Secured Party or any Agented Lender from taking such action at a later time when no such Ownership Limitation is then existing or would result under this provision. Notwithstanding any other provision of the Margin Loan Documentation to the contrary, each no Secured Party Person and each or Lender Person shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Collateral that Secured Party or the Agented Lender, as the case may be, is not entitled to acquire or receive, or exercise any other rights of a secured party in respect of, at any time pursuant to this Ownership Provision, until such time as Secured Party or such Agented Lender, as the case may be, is not prohibited from acquiring, receiving or exercising such rights in respect thereof under this Ownership Provision, and any such acquisition, receipt or exercise of such rights shall be void and have no effect to the extent (but only to the extent) that Secured Party or such Agented Lender, as the case may be, is so prohibited.

Ownership Provision. (i) Notwithstanding any other provision of the Margin Loan Documentation to the contrary, in no event shall Secured Party an Applicable Lender or any Agented Lender be entitled to acquire, receive, vote or exercise any other rights of a secured party an Applicable Lender in respect of any Relevant Collateral Shares to the extent (but only to the extent) that immediately upon giving effect to such acquisition, receipt or exercise of such rights: : (A) it would cause such Applicable Lender Person or, in the case of an Agented Lender, Lender Person to have Beneficial Ownership by any Secured Party Person or any Lender Person of (i) Common Shares would be equal to or greater than 9.0% of the number of the total outstanding Common Shares of an Issuer; or (ii) Voting Equity Interests would be equal to or greater than 9.0% of the total outstanding Voting Equity Interests; or (B) any Secured Party Person or Applicable Lender Person or, in the case of an Agented Lender, any Lender Person, under any federal, state or local laws, rules, regulations or regulatory orders or any provisions of the Organization Documents of an Issuer or any agreement to which Pledgor any Grantor or any Affiliate thereof or an Issuer is a party, in each case, (x) applicable to ownership of any type of Collateral and (y) as to which Secured Party has delivered irrevocable written notice to Pledgor of its election for this clause (B) to apply Shares (“Applicable Restrictions”’’), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of units of such type of Collateral Shares equal to: (i) the number of units of such type of Collateral Shares that would give rise to any reporting or registration obligation or other requirement (including obtaining prior approval by any Person or entity) of such Secured Party Applicable Lender Person or such Lender Person, as applicable, or would result in an adverse effect on such Secured Party Applicable Lender Person or such Lender Person, as applicable, under any Applicable Restriction, as determined by Secured Party such Applicable Lender in its reasonable discretion, in each case minus (ii) 1.0% of the number of the total outstanding units of such type of Collateral; (each of paragraphs (A) and (B) above, an “Ownership Limitation”).its (ii) The inability of Secured Party an Applicable Lender or any Agented Lender to acquire, receive or exercise rights with respect to any Relevant Collateral Shares as provided above at any time as a result of an Ownership Limitation shall not preclude Secured Party such Applicable Lender or any Agented Lender from taking such action at a later time when no such Ownership Limitation is then existing or would result under this provision. Notwithstanding any other provision of the Margin Loan Documentation to the contrary, each Secured Party Applicable Lender Person and each Lender Person shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Collateral Shares that Secured Party such Applicable Lender or the Agented Lender, as the case may be, is not entitled to acquire or receive, or exercise any other rights of a secured party an Applicable Lender or an Agented Lender in respect ofhereof, at any time pursuant to this Ownership Provision, until such time as Secured Party such Applicable Lender or such Agented Lender, as the case may be, is not prohibited from acquiring, receiving or exercising such rights in respect thereof under this an Ownership Provision, and any such acquisition, receipt or exercise of such rights shall be void and have no effect to the extent (but only to the extent) that Secured Party such Applicable Lender or such Agented Lender, as the case may be, is so prohibited.

Ownership Provision. (i) Notwithstanding any other provision of the Margin Loan Documentation to the contrary, in no event shall Secured Party Collateral Agent, the Relevant Lender or any Agented Lender be entitled to acquire, receive, vote or exercise any other rights of a secured party in respect of any Relevant Collateral Shares to the extent (but only to the extent) that immediately upon giving effect to such acquisition, receipt or exercise of such rights: (A) the Beneficial Ownership by any Secured Party Collateral Agent Person or any Lender Person of (i) Common Shares would be equal to or greater than 9.0% of the number of the total outstanding Common Shares or (ii) Voting Equity Interests would be equal to or greater than 9.0% of the total outstanding Voting Equity InterestsShares; or (B) any Secured Party Collateral Agent Person or any Lender Person under any federal, state or local laws, rules, regulations or regulatory orders or any provisions of the Organization Documents of Issuer or any agreement to which Pledgor or any Affiliate thereof or Issuer is a party, in each case, (x) applicable to ownership of any type of Collateral Shares and (y) as to which Secured Party Collateral Agent has delivered irrevocable written notice to Pledgor of its election for this clause (B) to apply (“Applicable Restrictions”), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of units of such type of Collateral Shares equal to: (i) the number of units of such type of Collateral Shares that would give rise to any reporting or registration obligation or other requirement (including obtaining prior approval by any Person or entity) of such Secured Party Collateral Agent Person or such Lender Person, as applicable, or would result in an adverse effect on such Secured Party Collateral Agent Person or such Lender Person, as applicable, under any Applicable Restriction, as determined by Secured Party Collateral Agent in its reasonable discretion, in each case minus (ii) 1.0% of the number of the total outstanding units of such type of Collateral; Shares (each of paragraphs (A) and (B) above, an “Ownership Limitation”). (ii) The inability of Secured Party Collateral Agent, the Relevant Lender or any Agented Lender to acquire, receive or exercise rights with respect to any Relevant Collateral Shares as provided above at any time as a result of an Ownership Limitation shall not preclude Secured Party Collateral Agent, the Relevant Lender or any Agented Lender from taking such action at a later time when no such Ownership Limitation is then existing or would result under this provision. Notwithstanding any other provision of the Margin Loan Documentation to the contrary, each Secured Party Collateral Agent Person and each Lender Person shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Collateral Shares that Secured Party Collateral Agent, the Relevant Lender or the such Agented Lender, as the case may be, is not entitled to acquire or receive, or exercise any other rights of a secured party in respect of, at any time pursuant to this Ownership Provision, until such time as Secured Party Collateral Agent, the Relevant Lender or such Agented Lender, as the case may be, is not prohibited from acquiring, receiving or exercising such rights in respect thereof under this Ownership Provision, and any such acquisition, receipt or exercise of such rights shall be void and have no effect to the extent (but only to the extent) that Secured Party Collateral Agent, the Relevant Lender or such Agented Lender, as the case may be, is so prohibited.

Ownership Provision. (i) Notwithstanding any other provision of the Margin Loan Documentation to the contrary, in no event shall Secured Party an Applicable Lender or any Agented Lender be entitled to acquire, receive, vote or exercise any other rights of a secured party an Applicable Lender in respect of any Relevant such Collateral Shares to the extent (but only to the extent) that immediately upon giving effect to such acquisition, receipt or exercise of such rights: (A) it would cause such Applicable Lender Person or, in the case of an Agented Lender, Lender Person to have Beneficial Ownership by any Secured Party Person or any Lender Person of (i) Common Shares would be equal to or greater than 9.08.0% of the number of the total outstanding Common Shares or (ii) Voting Equity Interests would be equal to or greater than 9.0% of the total outstanding Voting Equity InterestsCompany; or (B) any Secured Party Person or Applicable Lender Person or, in the case of an Agented Lender, any Lender Person, under any federal, state or local laws, rules, regulations or regulatory orders or any provisions of the Organization Documents of Issuer Company or any agreement to which Pledgor a Grantor or any Affiliate thereof or Issuer Company is a party, in each case, (x) applicable to ownership of any type of Collateral and (y) as to which Secured Party has delivered irrevocable written notice to Pledgor of its election for this clause (B) to apply Shares (“Applicable Restrictions”), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of units of such type of Collateral Shares equal to: (i) the number of units of such type of Collateral Shares that would give rise to any reporting or registration obligation or other requirement (including obtaining prior approval by any Person or entity) of such Secured Party Applicable Lender Person or such Lender Person, as applicable, or would result in an adverse effect on such Secured Party Applicable Lender Person or such Lender Person, as applicable, under any Applicable Restriction, as determined by Secured Party such Applicable Lender in its reasonable discretion, in each case minus (ii) 1.01% of the number of the total outstanding units of such type of Collateral; relevant Shares (each of paragraphs (A) and (B) above, an “Ownership Limitation”). (ii) The inability of Secured Party an Applicable Lender or any Agented Lender to acquire, receive or exercise rights with respect to any Relevant Collateral Shares as provided above at any time as a result of an Ownership Limitation shall not preclude Secured Party such Applicable Lender or any Agented Lender from taking such action at a later time when no such Ownership Limitation is then existing or would result under this provision. Notwithstanding any other provision of the Margin Loan Documentation to the contrary, each Secured Party Applicable Lender Person and each Lender Person shall not become the record or beneficial owner, or otherwise have any rights as a holder, of any Collateral Shares that Secured Party such Applicable Lender or the Agented Lender, as the case may be, is not entitled to acquire or receive, or exercise any other rights of a secured party an Applicable Lender or an Agented Lender in respect ofhereof, at any time pursuant to this Ownership Provision, until such time as Secured Party such Applicable Lender or such Agented Lender, as the case may be, is not prohibited from acquiring, receiving or exercising such rights in respect thereof under this an Ownership Provision, and any such acquisition, receipt or exercise of such rights shall be void and have no effect to the extent (but only to the extent) that Secured Party such Applicable Lender or such Agented Lender, as the case may be, is so prohibited.