Common use of Subsidiary Preferred Stock Clause in Contracts

Subsidiary Preferred Stock. The Company covenants that it will not permit any Subsidiary of the Company to issue or permit to be outstanding any class of capital stock which has priority over any other class of capital stock of such Subsidiary as to Distributions or in liquidation.

Subsidiary Preferred Stock. The Company covenants that it will not, and will not permit any Subsidiary of the Company to to, issue or permit to be outstanding any class of capital stock which has priority over any other class of capital stock of such Subsidiary as to Distributions dividends or in liquidation, except to the Company or to a Wholly-Owned Subsidiary of the Company.”