Example ContractsClausesForeign Subsidiary Assets
Foreign Subsidiary Assets
Foreign Subsidiary Assets contract clause examples

Foreign Subsidiary Assets. Transfer to, license to or permit either of # Tracon Pharma International Ltd., a company organized under the laws of Ireland, or # Tracon Pharma Ltd., a company organized under the laws of England to hold or maintain # any Intellectual Property or # any other assets having an aggregate value in excess of Five Thousand Dollars ($5,000.00).

Foreign Subsidiary Assets. Permit # the aggregate value of cash, Cash Equivalents and other tangible assets held by [[Borrower:Organization]] Australia to exceed One Million Two Hundred Fifty Thousand Dollars ($1,250,000.00) (or equivalent) at any time; provided, however, if [[Borrower:Organization]] Australia receives a tax refund in respect of its research and development activities and such tax refund causes the aggregate value of cash, Cash Equivalents and other tangible assets held by [[Borrower:Organization]] Australia to be in excess of One Million Two Hundred Fifty Thousand Dollars ($1,250,000.00) (or equivalent), [[Borrower:Organization]] Australia will not be in violation of this Section 7.12 so long as it distributes to Borrower an amount equal to such excess within ten (10) Business Days of its receipt of such refund, and # [[Borrower:Organization]] Australia to own or hold any Intellectual Property at any time (other than licenses to [[Borrower:Organization]] Australia of Intellectual Property owned by Persons who are neither Loan Parties nor Affiliates of Loan Parties and to the extent permitted by this Agreement).

Foreign Subsidiary Assets. Permit the aggregate value of cash, Cash Equivalents and other assets held by Borrower’s Foreign Subsidiaries to exceed Five Hundred Thousand Dollars ($500,000.00) (or equivalent) at any time.

Foreign Subsidiary Assets. Permit the aggregate value of cash, Cash Equivalents and other assets held by # Puma UK to exceed Two Million Dollars ($2,000,000.00) (or equivalent) at any time and # Puma Netherlands to exceed Two Million Dollars ($2,000,000.00) (or equivalent) at any time.

Subsidiary Assets. Permit the aggregate value of # cash and Cash Equivalents held by Borrower’s Subsidiaries that are not co-Borrowers or secured Guarantors hereunder, collectively, to exceed Five Hundred Thousand Dollars ($500,000) (or equivalent) for more than five (5) Business Days in any calendar month, or # all assets held by Borrower’s Subsidiaries that are not co-Borrowers or secured Guarantors hereunder collectively, to exceed One Million Dollars ($1,000,000) (or equivalent) for more than five (5) Business Days in any calendar month.

Foreign Subsidiary Documentation. Each guaranty and each collateral document entered into by a Foreign Subsidiary shall, in the case of such Foreign Subsidiary, be subject to the Foreign Subsidiary Documentation Principles in all respects.

Foreign Subsidiary Stock. Notwithstanding Section 7.1, the Collateral shall include that percentage of the outstanding equity securities of Foreign Subsidiaries which would not create a material adverse tax consequence for the Borrowers, taken as a whole.

UK Subsidiary Assets. Allow the cash and Cash Equivalent assets held by the UK Subsidiary to exceed Two Million Dollars ($2,000,000.00) at any given time.

Foreign Assets Control. To the knowledge of each Loan Party, none of the Loan Parties or any Subsidiaries of the Loan Parties: # is a Sanctioned Person, # has any of its assets in Sanctioned Entities, or # derives any of its operating income from investments in, or transactions with, Sanctioned Persons or Sanctioned Entities. To the knowledge of each Loan Party, each Loan Party and its respective officers, employees, directors and agents, are in compliance, in all material respects, with Anti-Corruption Laws and applicable Sanctions. No use of the proceeds of any Loan or Letter of Credit will violate Anti-Corruption Laws or applicable Sanctions. Neither the making of the Loans nor the use of the proceeds thereof will violate the Patriot Act, the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or successor statute thereto. Each Loan Party and its Subsidiaries are in compliance, in all material respects, with the Patriot Act.

Foreign Assets Control. To the knowledge of each Loan Party, none of the Loan Parties or any Subsidiaries of the Loan Parties: # is a Sanctioned Person, # has any of its assets in Sanctioned Entities, or # derives any of its operating income from investments in, or transactions with, Sanctioned Persons or Sanctioned Entities. To the knowledge of each Loan Party, each Loan Party and its respective officers, employees, directors and agents, are in compliance, in all material respects, with Anti-Corruption Laws and applicable Sanctions. No use of the proceeds of any Loan or Letter of Credit will violate Anti-Corruption Laws or applicable Sanctions. Neither the making of the Loans nor the use of the proceeds thereof will violate the Patriot Act, the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or successor statute thereto. Each Loan Party and its Subsidiaries are in compliance, in all material respects, with the Patriot Act.

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