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Consolidation of Variable Interest Entities
Consolidation of Variable Interest Entities contract clause examples

Investment Entities” means, as of any date of determination, those Persons in which the Borrower, the Parent, any of the Consolidated Entities or any of the Unconsolidated Entities directly or indirectly owns any Capital Stock which satisfy each of the following criteria: # such Person is an unconsolidated entity with respect to the Borrower or the Parent for financial reporting purposes or is an entity that is consolidated with the Borrower or the Parent as a result of the pronouncement entitled Financial Interpretation 46 “Consolidation of Variable Interest Entities” by the Financial Accounting Standards Board on January 17, 2003 as revised from time to time, # a party other than the Borrower, the Parent, a Consolidated Entity or an Unconsolidated Entity has primary control over day-to-day management of such Person (responsibilities under management agreements shall not constitute control), and # none of the Borrower, the Parent, any Consolidated Entity or any Unconsolidated Entity is directly or contingently liable for indebtedness of such Person, except for standard and customary recourse carve-outs commonly included in non-recourse financings in the form of guarantees or indemnities. For a list of the entities which are Investment Entities of the Borrower and the Parent as of the First Amendment Effective Date, see [Schedule 1.1(b)] attached hereto.

Investment Entities” means, as of any date of determination, those Persons in which the , the , any of the Consolidated Entities or any of the Unconsolidated Entities directly or indirectly owns any Capital Stock which satisfy each of the following criteria: # such Person is an unconsolidated entity with respect to the or the for financial reporting purposes or is an entity that is consolidated with the or the as a result of the pronouncement entitled Financial Interpretation 46 “Consolidation of Variable Interest Entities” by the Financial Accounting Standards Board on January 17, 2003 as revised from time to time, # a party other than the , the , a [[Consolidated Entity:Organization]] or an Unconsolidated Entity has primary control over day-to-day management of such Person (responsibilities under management agreements shall not constitute control), and # none of the , the , any [[Consolidated Entity:Organization]] or any Unconsolidated Entity is directly or contingently liable for indebtedness of such Person, except for standard and customary recourse carve-outs commonly included in non-recourse financings in the form of guarantees or indemnities. For a list of the entities which are Investment Entities of the and the as of the Closing Date, see [Schedule 1.01(a)] attached hereto.

Investment Entities” means, as of any date of determination, those Persons in which the [[Consolidated Parties:Organization]], the [[Consolidated Parties:Organization]], any of the Consolidated Entities or any of the Unconsolidated Entities directly or indirectly owns any Capital Stock which satisfy each of the following criteria: # such Person is an unconsolidated entity with respect to the [[Consolidated Parties:Organization]] or the [[Consolidated Parties:Organization]] for financial reporting purposes or is an entity that is consolidated with the [[Consolidated Parties:Organization]] or the [[Consolidated Parties:Organization]] as a result of the pronouncement entitled Financial Interpretation 46 “Consolidation of Variable Interest Entities” by the Financial Accounting

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