Common use of Restrictions on the Company Clause in Contracts

Restrictions on the Company. So long as any Securities are Outstanding, the Company shall not, without the prior consent in writing of the Trustee if so directed by the holders of not less than 25% of the principal amount of the Securities Outstanding: 10.21.1 engage in any business other than issuing Securities, acquiring and holding any collateral for the payment of Securities, issuing further Securities, entering into agreements and transactions related to all or any of the foregoing and performing any act incidental to or necessary in connection with any of the foregoing; 10.21.2 dispose of any part of any collateral or any interest therein, or create any mortgage, charge, Lien or other security or right of recourse in respect thereof in favor of any Person; 10.21.3 declare or pay any dividends or make any distribution of its assets; 10.21.4 release any party to this Indenture from any existing obligations thereunder; 10.21.5 have any subsidiaries; 10.21.6 consolidate or merge with any other Person (other than as contemplated by this Indenture); 10.21.7 take or omit to take any action, or make or omit to make any filing, or consent to the taking or omission to take any action or the making or omission to make any filing, which could lead to the Company becoming subject to any of the events specified in Section 5.1.5 or Section 5.1.6; 10.21.8 have any employees; 10.21.9 incur any indebtedness for borrowed moneys, other than issuing Securities to the extent permitted under this Indenture and provided that following the issue of such further Securities, the Issuer will not be deemed to be an “investment company” as defined in the U.S. Investment Company Act of 1940; or 10.21.10 purchase, own, lease or otherwise acquire any real property (including office premises or like facilities).

Appears in 3 contracts

Samples: Indenture (Companhia Vale Do Rio Doce), Indenture (Vale Overseas LTD), Indenture (Vale Overseas LTD)

AutoNDA by SimpleDocs

Restrictions on the Company. So long as any Securities are Outstanding, the Company shall not, without the prior consent in writing of the Trustee if so directed by the holders of not less than 25% of the principal amount of the Securities Outstanding: 10.21.1 engage in any business other than issuing Securities, acquiring and holding any collateral for the payment of Securities, issuing further Securities, entering into agreements and transactions related to all or any of the foregoing and performing any act incidental to or necessary in connection with any of the foregoing; 10.21.2 dispose of any part of any collateral or any interest therein, or create any mortgage, charge, Lien charge or other security or right of recourse in respect thereof in favor of any Personperson; 10.21.3 declare or pay any dividends or make any distribution of its assets; 10.21.4 release any party to this Indenture from any existing obligations thereunder; 10.21.5 have any subsidiaries; 10.21.6 consolidate or merge with any other Person person (other than as contemplated by this Indenture); 10.21.7 take or omit to take any action, or make or omit to make any filing, or consent to the taking or omission to take any action or the making or omission to make any filing, which could lead to the Company becoming subject to any of the events specified in Section 5.1.5 or Section 5.1.6; 10.21.8 have any employees; 10.21.9 incur any indebtedness for borrowed moneys, other than issuing Securities to the extent permitted under this Indenture and provided that following the issue of such further Securities, the Issuer will not be deemed to be an “investment company” as defined in the U.S. Investment Company Act of 1940; or 10.21.10 purchase, own, lease or otherwise acquire any real property (including office premises or like facilities).

Appears in 1 contract

Samples: Indenture (Vale Overseas LTD)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!