Common use of Pledge of New Subsidiary Stock Clause in Contracts

Pledge of New Subsidiary Stock. Company agrees to pledge (or to cause each Subsidiary Guarantor to pledge) (i) all of the Capital Stock of each new Material Domestic Subsidiary, (ii) 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote of each new Foreign Subsidiary and (iii) all of the Capital Stock of each domestic Unrestricted Subsidiary (or 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote in the case of Foreign Subsidiaries), (in each of (i) - (iii), directly owned by Company or a Subsidiary Guarantor) established, acquired, created or otherwise in existence after the Closing Date to Administrative Agent for the benefit of the Secured Creditors pursuant to the terms of the Security Agreement promptly, and in any event, within sixty (60) days of the establishment, acquisition or creation of such new Subsidiary. Company agrees to pledge or cause each Subsidiary Guarantor to pledge, to Administrative Agent for the benefit of the Secured Creditors pursuant to the Security Agreement, all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to Company or any Domestic Subsidiary promptly and in any event within sixty (60) days of the creation of such instruments.

Pledge of New Subsidiary Stock. Company agrees to pledge (or to cause each Subsidiary Guarantor to pledge) (i) all of the Capital Stock of each new Material Domestic Subsidiary, (ii) 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote of each new Foreign Subsidiary and (iii) all of the Capital Stock of each domestic Unrestricted Subsidiary (or 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote in the case of Foreign Subsidiaries), (in each of (i) - (iii), directly owned by Company or a Subsidiary Guarantor) established, acquired, created or otherwise in existence after the Closing Date to Administrative Collateral Agent for the benefit of the Secured Creditors pursuant to the terms of the Security Agreement promptly, and in any event, within sixty (60) days of the establishment, acquisition or creation of such new Subsidiary. Company agrees to pledge or cause each Subsidiary Guarantor to pledge, to Administrative Collateral Agent for the benefit of the Secured Creditors pursuant to the Security Agreement, Agreement all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to Company or any Domestic Subsidiary promptly and in any event within sixty (60) days of the creation of such instruments.

Pledge of New Subsidiary Stock. Company agrees to pledge (or to cause each Subsidiary Guarantor to pledge) (i) all of the Capital Stock of each new Material Domestic Subsidiary, (ii) 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote of each new Foreign Subsidiary and (iii) all of the Capital Stock of each domestic Unrestricted Subsidiary (or 65% of the Capital Stock entitled to vote and 100% of the Capital Stock not entitled to vote in the case of Foreign Subsidiaries), ) (in each of (i) - (iiii)—(iii), directly owned by Company or a Subsidiary Guarantor) ), established, acquired, created or otherwise in existence after the Closing Restatement Date to Administrative Collateral Agent for the benefit of the Secured Creditors pursuant to the terms of the Security Agreement promptly, and in any event, within sixty (60) days of the establishment, acquisition or creation of such new Subsidiary. Company agrees to pledge or cause each Subsidiary Guarantor to pledge, to Administrative Collateral Agent for the benefit of the Secured Creditors pursuant to the Security Agreement, all instruments evidencing indebtedness owed by any Unrestricted Subsidiary to Company or any Domestic Subsidiary promptly and in any event within sixty (60) days of the creation of such instruments.