Restriction on Subsidiaries. Neither the Borrower nor any Guarantor shall own or acquire any Subsidiary with Hydrocarbon Properties or Tangible Property that are to be treated as Borrowing Base Properties unless such Subsidiary, within 30 days of becoming a Subsidiary, becomes a Guarantor pursuant to, and provides the Guarantor Security required by, Section 9.2.
Restriction on Subsidiaries. The Company will not, and will not permit any Significant Subsidiary to, enter into any agreement which would restrict the ability of any Significant Subsidiary (other than the Issuer or the Subsidiary Guarantor) to pay any dividends to, or make advances, loans or distributions to, or other investments in, the Company or any other Subsidiary.
Restriction on Subsidiaries. Except as set forth in this Agreement, the Loan Parties shall not, and will not permit any Subsidiary of any Loan Party to, enter into any agreement which would restrict the ability of any Loan Party or any Subsidiary of any Loan Party to pay any dividends to, or make advances, loans or distributions to, or other instruments in any Loan Party or any Subsidiary of any Loan Party, except for such restrictions existing under or by reason of items listed in clauses (i)-(x) of Section 8.2.2 [Liens; Negative Pledge] and which are not materially disadvantageous to the Lenders.
Restriction on Subsidiaries. The Borrower will not nor will it permit any of its Subsidiaries to form any Subsidiary without the prior written consent of the Required Lenders other than a Subsidiary formed to hold the assets from a Permitted Acquisition and no other assets. In the event that the Required Lenders, in their sole discretion, consent to, or, if a Subsidiary is formed to hold the assets of a Permitted Acquisition, the formation or acquisition of a Subsidiary, any such Subsidiary formed or acquired by the Borrower or any Subsidiary thereof shall simultaneously with the consummation of any such formation or acquisition grant to the Agent for the benefit of the Lenders a first perfected security interest (except as otherwise permitted by the Required Lenders) in all of its existing and after-acquired assets, and guaranty of all of the Obligations and all of the ownership interests of such Subsidiary shall be pledged to the Agent for the benefit of the Lenders. All applicable parties shall execute and/or deliver to the Agent all such documents and instruments requested by the Agent in order to perfect the Agent’s security interest therein.
Restriction on Subsidiaries. The Borrowers will not permit any of their Subsidiaries to enter into any agreement which would directly limit such Subsidiaries' rights to declare or pay dividends to the Borrowers.
Restriction on Subsidiaries. No Borrower, other than BHGD, shall create any additional Subsidiaries without the prior written consent of Requisite Lenders.
Restriction on Subsidiaries. The Borrower will not form any Subsidiary without providing the Agent with at least twenty (20) days prior written notice of such formation. Simultaneously with such formation of any Subsidiary, the Borrower and such Subsidiary will comply with the provisions of 10.6 applicable to a new Subsidiary.
Restriction on Subsidiaries. The Borrower shall not create or acquire any subsidiary.
Restriction on Subsidiaries. 18 (f) Further Assurances................................................... 18
Restriction on Subsidiaries. The Borrower may not invest on an --------------------------- aggregate basis more than Ten Million Dollars in any direct of indirect subsidiary unless such subsidiary guarantees all of the Borrower's payment and performance obligations under the Operative Documents.
