Certain Obligations Respecting Subsidiaries. (a) The Company will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that the Company and each of its Subsidiaries at all times owns (i) all of the issued and outstanding shares of each class of Capital Stock of each of such Person's Subsidiaries (other than, in each case, Capital Stock of Excluded Subsidiaries) and (ii) more than 50% of the issued and outstanding shares of Capital Stock of each Person acquired pursuant to clauses (b) and (c) of Section 9.14(viii) hereof. Without limiting the generality of the foregoing, the Company shall not, and shall not permit any of its Subsidiaries to, sell, transfer or otherwise dispose of any shares of stock in any Subsidiary (other than an Excluded Subsidiary) owned by them, nor permit any Subsidiary of the Company (other than an Excluded Subsidiary) to issue any shares of Capital Stock of any class whatsoever to any Person (other than to the Company or to another Wholly-Owned Subsidiary or pursuant to Section 9.12 hereof). In the event that any such additional shares of Capital Stock shall be issued by any Subsidiary of the Company, or any Subsidiary shall be acquired, the Company agrees (so long as the certificates evidencing such shares of stock are not subject to a lien permitted under Section 9.13(vii) hereof, and in any event subject to clause (c) below) forthwith to deliver to the Administrative Agent pursuant to the Security Documents the certificates evidencing such shares of stock, accompanied by undated stock powers executed in blank and shall take such other action as the Administrative Agent shall request to perfect the security interest created therein pursuant to the Security Documents.
Certain Obligations Respecting Subsidiaries. The Borrower will take such action, and will cause each of its Significant Subsidiaries and any Significant Subsidiary formed with the intent of merging with or into a Person that will be a Significant Subsidiary subject to this provision to take such action, from time to time as shall be necessary to ensure that all Significant Subsidiaries of the Borrower are party to, as Loan Parties, the Guaranty provided in Article VII hereof. Without limiting the generality of the foregoing, in the event that the Borrower or any of its Significant Subsidiaries shall form or acquire any new Significant Subsidiary, the Borrower or the respective Significant Subsidiary will cause such new Significant Subsidiary to (A) become a party hereto and to the Guaranty pursuant to a written instrument in form and substance satisfactory to the Administrative Agent, and (B) deliver such proof of corporate action, incumbency of officers, opinions of counsel and other documents relating to the foregoing as is consistent with those delivered by each Loan Party pursuant to Article III hereof, or as any Lender or the Administrative Agent shall have reasonably requested.
Certain Obligations Respecting Subsidiaries. (a) The Borrower will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that the Borrower at all times owns (subject only to the Lien of the Security Instruments) all of the issued and outstanding shares of each class of stock of each of its Subsidiaries. Without limiting the generality of the foregoing, the Borrower shall not, and shall not permit any of its Subsidiaries to, sell, transfer or otherwise dispose of any shares of stock in any Subsidiary owned by it, or permit any of its Subsidiaries to issue any shares of stock of any class whatsoever to any Person other than the Borrower. In the event that any such additional shares of stock shall be issued by any Subsidiary of the Borrower, the Borrower agrees forthwith to deliver to the Agent pursuant to the Security Instruments the certificates evidencing such shares of stock, accompanied by undated stock powers executed in blank and shall take such other action as the Agent shall request to perfect the security interest created therein pursuant to the Security Instruments.
Certain Obligations Respecting Subsidiaries. Each Credit Party will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that the percentage of the issued and outstanding shares of capital stock of any class or character owned by it in any Subsidiary on the date hereof is not at any time decreased, other than by reason of transfers to another Credit Party.
Certain Obligations Respecting Subsidiaries. (a) The Borrower will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that each of its Subsidiaries is a Wholly Owned Subsidiary.
Certain Obligations Respecting Subsidiaries. Further Assurances 56 8.13 Termination of Non-Permitted Liens 58 8.14 Intellectual Property 58 8.15 [Reserved]. 58 8.16 Post-Closing Items 58 SECTION 9 NEGATIVE COVENANTS 58 9.01 Indebtedness 58 9.02 Liens 60 9.03 Fundamental Changes and Acquisitions 61 9.04 Lines of Business 61 9.05 Investments 62 9.06 Restricted Payments 63 CONFIDENTIAL TREATMENT REQUESTED UNDER C.F.R. SECTIONS 200.80(b)(4), 200.83 AND 230.406. [****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION. TABLE OF CONTENTS (continued) Page 9.07 Payments of Indebtedness 63 9.08 Change in Fiscal Year 63 9.09 Sales of Assets, Etc 63 9.10 Transactions with Affiliates 64 9.11 Restrictive Agreements 65 9.12 Amendments to Material Agreements; Organizational Documents 65 9.13 Operating Leases 65 9.14 Sales and Leasebacks 65 9.15 Hazardous Material 65 9.16 Accounting Changes 65 9.17 Compliance with ERISA 65 9.18 Swedish Borrower 66 SECTION 10 FINANCIAL COVENANTS 66 10.01 Minimum Liquidity 66 10.02 Minimum Revenue 66 10.03 Cure Right 66 SECTION 11 EVENTS OF DEFAULT 67 11.01 Events of Default 67 11.02 Remedies 70 SECTION 12 ADMINISTRATIVE AGENT 71 12.01 Appointment and Duties 71 12.02 Binding Effect 73 12.03 Use of Discretion 73 12.04 Delegation of Rights and Duties 73 12.05 Reliance and Liability 73 12.06 Administrative Agent Individually 74 CONFIDENTIAL TREATMENT REQUESTED UNDER C.F.R. SECTIONS 200.80(b)(4), 200.83 AND 230.406. [****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION. TABLE OF CONTENTS (continued) Page 12.07 Lender Credit Decision 74 12.08 Expenses; Indemnities 75 12.09 Resignation of Administrative Agent 75 12.10 Release of Collateral or Guarantors 76 12.11 Release of Swedish Liens 77 12.12 Automatic Releases of Obligors and Liens (other than Swedish Liens). 77 SECTION 13 MISCELLANEOUS 77 13.01 No Waiver 77 13.02 Notices 78 13.03 Expenses, Indemnification, Etc 78 13.04 Amendments, Etc 79 13.05 Successors and Assigns 80 13.06 Survival 82 13.07 Captions 82 13.08 Counterparts 82 13.09 Governing Law 82 13.10 Jurisdiction, Service of Process and Venue 82
Certain Obligations Respecting Subsidiaries. 61 SECTION 6.11.
Certain Obligations Respecting Subsidiaries. (a) The Company will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that each of its Subsidiaries is a Wholly Owned Subsidiary.
Certain Obligations Respecting Subsidiaries. (a) The Obligors will take such action from time to time as shall be necessary to ensure that each Obligor maintains its percentage ownership interest in each of the Subsidiary Guarantors as set forth on Schedule III hereto.
Certain Obligations Respecting Subsidiaries. The Guarantor will not, and will not permit any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any such Subsidiary to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits owned by the Guarantor or any Subsidiary of the Guarantor, or pay any Indebtedness owed to the Guarantor or a Subsidiary of the Guarantor, (b) make loans or advances to the Guarantor or (c) transfer any of its properties or assets to the Guarantor, except for (x) such encumbrances or restrictions existing under or by reason of (i) applicable law, (ii) this Guaranty or any other Credit Document and (iii) customary provisions restricting subletting or assignment of any lease governing a leasehold interest of the Guarantor or a Subsidiary of the Guarantor and (y) issuances by Subsidiaries of preferred stock.
