Common use of Stock Pledges of Additional Holding Company Subsidiaries Clause in Contracts

Stock Pledges of Additional Holding Company Subsidiaries. Without limiting the Collateral and Guarantee Requirement (but subject to Section 6.10(b), as applicable), from and after the Fourth Restatement Effective Date, the Holding Company shall pledge the Capital Stock of each Subsidiary (in addition to the Borrower and the Designated SBG Subsidiaries) directly owned by the Holding Company (other than any Excluded Holding Company Subsidiary) pursuant to the Security Agreement and, in that connection, shall deliver to the Administrative Agent all certificates or other instruments (if any) representing such Capital Stock, together with stock powers or other instruments of transfer with respect thereto endorsed in blank or take such other action to effect a valid pledge over such Capital Stock to the Administrative Agent (and the Administrative Agent is hereby authorized, without further approval of the Lenders, to enter into such amendments to the Security Agreement, if any, or any joinder or other agreement relating thereto as shall be necessary to give effect to the foregoing), unless such pledge would violate any provision of applicable law or any agreement to which the Holding Company or any such Subsidiary is a party; provided that if at any time (i) any such Subsidiary that is an Excluded Holding Company Subsidiary and the Capital Stock of which is not pledged pursuant to the Security Agreement shall cease to be an Excluded Holding Company Subsidiary for any reason or (ii) such pledge with respect to the Capital Stock of any such Subsidiary shall cease to violate any provision of applicable law or any such agreement, the Holding Company will take such action promptly to effect such pledge in accordance with the provisions of this paragraph.

Stock Pledges of Additional Holding Company Subsidiaries. Without limiting the Collateral and Guarantee Requirement (but subject to Section 6.10(b), as applicable), from and after the Fourth Fifth Restatement Effective Date, the Holding Company shall pledge the Capital Stock of each Subsidiary (in addition to the Borrower and the Designated SBG Subsidiaries) directly owned by the Holding Company (other than any Excluded Holding Company Subsidiary) pursuant to the Security Agreement and, in that connection, shall deliver to the Administrative Agent all certificates or other instruments (if any) representing such Capital Stock, together with stock powers or other instruments of transfer with respect thereto endorsed in blank or take such other action to effect a valid pledge over such Capital Stock to the Administrative Agent (and the Administrative Agent is hereby authorized, without further approval of the Lenders, to enter into such amendments to the Security Agreement, if any, or any joinder or other agreement relating thereto as shall be necessary to give effect to the foregoing), unless such pledge would violate any provision of applicable law or any agreement to which the Holding Company or any such Subsidiary is a party; provided that if at any time (i) any such Subsidiary that is an Excluded Holding Company Subsidiary and the Capital Stock of which is not pledged pursuant to the Security Agreement shall cease to be an Excluded Holding Company Subsidiary for any reason or (ii) such pledge with respect to the Capital Stock of any such Subsidiary shall cease to violate any provision of applicable law or any such agreement, the Holding Company will take such action promptly to effect such pledge in accordance with the provisions of this paragraph.

Stock Pledges of Additional Holding Company Subsidiaries. Without limiting the Collateral and Guarantee Requirement (but subject to Section 6.10(b)18, as applicable), from and after the Fourth Restatement Effective Date, the Holding Company shall pledge the Capital Stock of each Subsidiary (in addition to the Borrower and the Designated SBG Subsidiaries) directly owned by the Holding Company (other than any Excluded Holding Company Subsidiary) pursuant to the Security Agreement and, in that connection, shall deliver to the Administrative Agent all certificates or other instruments (if any) representing such Capital Stock, together with stock powers or other instruments of transfer with respect thereto endorsed in blank or take such other action to effect a valid pledge over such Capital Stock to the Administrative Agent (and the Administrative Agent is hereby authorized, without further approval of the Lenders, to enter into such amendments to the Security Agreement, if any, or any joinder or other agreement relating thereto as shall be necessary to give effect to the foregoing), unless such pledge would violate any provision of applicable law or any agreement to which the Holding Company or any such Subsidiary is a party; provided that if at any time (i) any such Subsidiary that is an Excluded Holding Company Subsidiary and the Capital Stock of which is not pledged pursuant to the Security Agreement shall cease to be an Excluded Holding Company Subsidiary for any reason or (ii) such pledge with respect to the Capital Stock of any such Subsidiary shall cease to violate any provision of applicable law or any such agreement, the Holding Company will take such action promptly to effect such pledge in accordance with the provisions of this paragraph.