Common use of Unit Subsidiary Clause in Contracts

Unit Subsidiary. Notwithstanding anything to the contrary contained elsewhere in this Credit Agreement, in no event shall (i) the Unit Subsidiary be liquidated and/or dissolved, (ii) the Unit Subsidiary be merged or consolidated with or into Holdings, the Borrower or any of their respective other Subsidiaries or any other Person, (iii) the Unit Subsidiary become a "Guarantor" as opposed to a "Subordinated Guarantor" under the Senior Unsecured Notes Indenture or (iv) the Borrower permit the "Subordinated Guaranty" of the Unit Subsidiary contained in the Senior Unsecured Notes Indenture to be released.

Appears in 1 contract

Samples: Credit Agreement (Williams Scotsman Inc)

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Unit Subsidiary. Notwithstanding anything to the contrary contained elsewhere in this Credit Agreement, in no event shall will (i) the Unit Subsidiary be liquidated and/or dissolved, (ii) the Unit Subsidiary be merged or consolidated with or into Holdings, the Borrower or any of their respective other Subsidiaries or any other Person, (iii) the Unit Subsidiary become a "Guarantor" as opposed to a "Subordinated Guarantor" under the Senior Unsecured Notes Indenture or (iv) the Borrower permit the "Subordinated Guaranty" of the Unit Subsidiary contained in the Senior Unsecured Notes Indenture to be released.

Appears in 1 contract

Samples: Credit Agreement (Williams Scotsman Inc)

Unit Subsidiary. Notwithstanding anything to the contrary contained elsewhere in this Credit Agreement, in no event shall (i) the Unit Subsidiary be liquidated and/or dissolved, (ii) the Unit Subsidiary be merged or consolidated with or into Holdings, the Borrower or any of their respective other Subsidiaries or any other Person, (iii) the Unit Subsidiary become a "Guarantor" as opposed to a "Subordinated Guarantor" under the Senior Unsecured Notes Indenture or the Senior Secured Notes Indenture or (iv) the Borrower permit the "Subordinated Guaranty" of the Unit Subsidiary contained in the Senior Unsecured Notes Indenture or the Senior Secured Notes Indenture to be released.

Appears in 1 contract

Samples: Credit Agreement (Williams Scotsman International Inc)

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Unit Subsidiary. Notwithstanding anything to the contrary contained elsewhere in this Credit Agreement, in no event shall will (i) the Unit Subsidiary be liquidated and/or dissolved, (ii) the Unit Subsidiary be merged or consolidated with or into Holdings, the Borrower or any of their respective other Subsidiaries or any other Person, (iii) the Unit Subsidiary become a "Guarantor" as opposed to a "Subordinated Guarantor" under the Senior Unsecured Notes Indenture or Indenture, (iv) the Borrower permit the "Subordinated Guaranty" of the Unit Subsidiary contained in the Senior Unsecured Notes Indenture to be releasedreleased or (v) the Unit Subsidiary have any Indebtedness other than Indebtedness expressly permitted under Section 8.3.

Appears in 1 contract

Samples: Credit Agreement (Mobile Field Office Co)

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