Common use of Status of Subsidiaries Clause in Contracts

Status of Subsidiaries. For all purposes of this Indenture and the Securities (including the provisions of this Article V and Sections 4.8, 4.9 and 4.10), Subsidiaries of any Surviving Entity will, upon such transaction or series of transactions, become Restricted Subsidiaries or Unrestricted Subsidiaries as provided pursuant to Section 4.16 and all Indebtedness, and all Liens on property or assets, of the Company and the Restricted Subsidiaries immediately prior to such transaction or series of transactions will be deemed to have been incurred to upon such transaction or series of transactions; provided that in the event of a conversion of the Company from partnership to corporate form in a transaction the purpose of which is to effect such conversion and in which no additional Indebtedness is incurred or anticipated to be incurred by the Company, the Surviving Entity or any Restricted Subsidiary, no Indebtedness of the Company and the Restricted Subsidiaries shall be deemed to have been incurred upon such transaction or series of transactions.