Common use of Special Prohibitions and Limitations Clause in Contracts

Special Prohibitions and Limitations. Without the prior approval of the Requisite Interest, the Company shall not (i) sell, exchange or otherwise dispose of all or substantially all of the assets of the Company outside the ordinary course of business of the Company (provided, however, that this provision shall not be interpreted to preclude or limit the mortgage, pledge, hypothecation or grant of a security interest in all or substantially all of the assets of the Company and shall not apply to any forced sale of any or all of the assets of the Company pursuant to the foreclosure of (or in lieu of foreclosure), or other realization upon, any such encumbrance), (ii) merge, consolidate or combine with any other Person, or (iii) issue additional Common Shares.

Appears in 9 contracts

Samples: Limited Liability Company Agreement (Centerpoint Energy Houston Electric LLC), Limited Liability Company Agreement (LyondellBasell F&F Holdco, LLC), Limited Liability Company Agreement (LyondellBasell F&F Holdco, LLC)

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Special Prohibitions and Limitations. Without the prior approval of the Requisite InterestMember, the Company shall not (i) sell, exchange or otherwise dispose of all or substantially all of the assets of the Company outside the ordinary course of business of the Company (provided, however, that this provision shall not be interpreted to preclude or limit the mortgage, pledge, hypothecation or grant of a security interest in all or substantially all of the assets of the Company and shall not apply to any forced sale of any or all of the assets of the Company pursuant to the foreclosure of (or in lieu of foreclosure), or other realization upon, any such encumbrance), (ii) merge, consolidate or combine with any other Person, or (iii) issue additional Common Shares.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (CenterPoint Energy Transition Bond Co IV, LLC), Limited Liability Company Agreement (CenterPoint Energy Restoration Bond Company, LLC), Limited Liability Company Agreement (CenterPoint Energy Transition Bond CO III, LLC)

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