Document ID: 14343

Text:
(a) On the Closing Date, all of the Subsidiaries of the Borrower shall be Restricted Subsidiaries other than Healthcare Royalty Management, LLC , Cowen Aviation Finance Holdings Inc., Cowen Aviation Finance Holdings LLC, Cowen Aviation Finance LLC and Cowen Aviation Management Inc., which shall be Unrestricted Subsidiaries unless and until otherwise designated by the Borrowers board of directors; provided, however, the conditions set forth in clauses (i) through (iv) below shall be satisfied as of the Closing Date with respect to such Subsidiaries. The board of directors of the Borrower may designated any Restricted Subsidiary that is an Aviation Subsidiary or a Leveraged Finance Subsidiary to be an Unrestricted Subsidiary; provided that, at the time of designation, the following conditions are satisfied:

Named Entities:
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Parties
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Parties
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Parties
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Parties
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Parties

Tokenized Text:
(
a
)
On
the
Closing
Date
,
all
of
the
Subsidiaries
of
the
Borrower
shall
be
Restricted
Subsidiaries
other
than
Healthcare
Royalty
Management
,
LLC
,
Cowen
Aviation
Finance
Holdings
Inc
.
,
Cowen
Aviation
Finance
Holdings
LLC
,
Cowen
Aviation
Finance
LLC
and
Cowen
Aviation
Management
Inc
.
,
which
shall
be
Unrestricted
Subsidiaries
unless
and
until
otherwise
designated
by
the
Borrowers
board
of
directors
;
provided
,
however
,
the
conditions
set
forth
in
clauses
(
i
)
through
(
iv
)
below
shall
be
satisfied
as
of
the
Closing
Date
with
respect
to
such
Subsidiaries
.
The
board
of
directors
of
the
Borrower
may
designated
any
Restricted
Subsidiary
that
is
an
Aviation
Subsidiary
or
a
Leveraged
Finance
Subsidiary
to
be
an
Unrestricted
Subsidiary
;
provided
that
,
at
the
time
of
designation
,
the
following
conditions
are
satisfied
: