Common use of Rule 3-16 of Regulation S-X Clause in Contracts

Rule 3-16 of Regulation S-X. (a) Notwithstanding anything to the contrary set forth in this Article XI or any Security Document, in the event that Rule 3-16 of Regulation S-X under the Securities Act requires or would require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the Commission (or any other government agency) of separate financial statements of a Subsidiary due to the fact that such Subsidiary’s Capital Stock secures the Notes, then the Capital Stock of such Subsidiary need not be pledged pursuant to this Section 11.9 and the Security Documents, and shall automatically be deemed released and not to be, and not to have been, part of the Collateral, but only to the extent necessary not to be subject to such requirement. In such event, the Security Documents may be amended or modified, without the consent of any Holder, to the extent necessary to evidence the release of Liens securing the Notes and the Guarantees on the shares of Capital Stock that are so deemed to no longer constitute part of the Collateral and the Trustee and Collateral Agent are hereby authorized by each Holder to execute, or to authorize the execution of or the filing of, any agreement, document or instrument prepared by the Issuer in order to evidence such release or to otherwise give effect to this Section 11.9.

Rule 3-16 of Regulation S-X. (ai) Notwithstanding anything to the contrary set forth in this Article XI Section 10.02 or any Security Document, in the event that Rule 3-16 of Regulation S-X under the Securities Act requires or would require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the Commission (or any other government agency) of separate financial statements of a Subsidiary due Guarantor that are not otherwise required to the fact that such Subsidiary’s Capital Stock secures the Notesbe filed, then the Capital Stock of such Subsidiary Guarantor need not be pledged pursuant to this Section 11.9 10.02 and the Security Documents, Documents and shall automatically be deemed released and to not be and to be, and not to have been, been part of the Collateral, but only to the extent necessary to not to be subject to such requirement. In such event, the Security Documents may be amended or modified, without the consent of any Holder, to the extent necessary to evidence the release of Liens securing the Notes and the Guarantees on the shares of Capital Stock that are so deemed to no longer constitute part of the Collateral and the Trustee and Collateral Agent are hereby authorized by each Holder to execute, or to authorize the execution of or the filing of, any agreement, document or instrument prepared by the Issuer in order to evidence such release or to otherwise give effect to this Section 11.910.02(f).

Rule 3-16 of Regulation S-X. (ai) Notwithstanding anything to the contrary set forth in this Article XI Section 10.02 or any Security Document, in the event that Rule 3-16 of Regulation S-X under the Securities Act requires or would require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the Commission (or any other government agency) of separate financial statements of a Subsidiary due Guarantor that are not otherwise required to the fact that such Subsidiary’s Capital Stock secures the Notesbe filed, then the Capital Stock of such Subsidiary Guarantor need not be pledged pursuant to this Section 11.9 10.02 and the Security Documents, Documents and shall automatically be deemed released and to not be and to be, and not to have been, been part of the Collateral, but only to the extent necessary to not to be subject to such requirement. In such event, the Security Documents may be amended or modified, without the consent of any Holder, to the extent necessary to evidence the release of Liens securing the Notes and the Guarantees on the shares of Capital Stock that are so deemed to no longer constitute part of the Collateral and the Trustee and Collateral Agent Trustee are hereby authorized by each Holder to execute, or to authorize the execution of or the filing of, any agreement, document or instrument prepared by the Issuer in order to evidence such release or to otherwise give effect to this Section 11.910.02(f).

Rule 3-16 of Regulation S-X. (a) Notwithstanding anything to the contrary set forth in this Article XI or any Security Document, in the event that Rule 3-16 of Regulation S-X under the Securities Act requires or would require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the Commission (or any other government agency) SEC of separate financial statements of a Subsidiary due to the fact that such Subsidiary’s Capital Stock secures the Notes, then the Capital Stock of such Subsidiary need not be pledged pursuant to this Section 11.9 and the Security Documents, Documents and shall automatically be deemed released and to not be and to be, and not to have been, been part of the Collateral, but only to the extent necessary to not to be subject to such requirement. In such event, the Security Documents may be amended or modified, without the consent of any Holder, to the extent necessary to evidence the release of Liens securing the Notes and the Guarantees on the shares of Capital Stock that are so deemed to no longer constitute part of the Collateral and the Trustee and Collateral Agent are hereby authorized by each Holder to execute, or to authorize the execution of or the filing of, any agreement, document or instrument prepared by the Issuer in order to evidence such release or to otherwise give effect to this Section 11.9.