Example ContractsClausesImmaterial Subsidiary
Immaterial Subsidiary
Immaterial Subsidiary contract clause examples

Subsidiary that is not a Wholly-Owned Subsidiary of the Borrower;

Subsidiary. For purposes of this Agreement, “Subsidiary” means any entity of which more than 50% of the outstanding voting securities is owned directly or indirectly by the Company.

Subsidiary. For purposes of this Agreement, “Subsidiary” shall mean a corporation as defined in [Section 424(f)] (or a successor provision to such section) of the Code, and regulations and rulings thereunder, with Holding being treated as the employer corporation for purposes of this definition.

Immaterial Subsidiaries. Permit any Immaterial Subsidiary to # own any assets (other than assets of a de minimis value and nature and not used in the operation of the business of the Credit Parties), # have any liabilities (other than liabilities of a de minimis nature), or # engage in any business activity.

Subsidiary. Borrower shall notify Agent of each Subsidiary formed subsequent to the Closing Date and, within 30 days of formation, shall cause any such Qualified Subsidiary to execute and deliver to Agent a Joinder Agreement. In addition, Borrower shall cause any Ineligible Subsidiary that ceases to qualify as an Ineligible Subsidiary to execute and deliver to Agent a Joinder Agreement and grant and pledge to Agent a perfected security interest in the shares of such former Ineligible Subsidiary and execute and deliver any and all documents necessary in connection with such grant and pledge, each in form and substance acceptable to Agent.

Subsidiary that is not a Wholly Owned Subsidiary of the Parent Borrower;

Subsidiary. The Borrower does not have any Subsidiary (other than any Permitted Subsidiary and the Tax Equity Opco), and does own or hold, directly or indirectly, any Equity Interests of any other Person (other than any Permitted Subsidiary).

Subsidiary. For purposes of this Agreement, “Subsidiary” means any entity of which more than 50% of the outstanding voting securities is owned directly or indirectly by the Company.

Immaterial Subsidiaries. No Immaterial Subsidiary # owns any assets (other than assets of a de minimis value and nature and not used in the operation of the business of the Credit Parties), # has any liabilities (other than liabilities of a de minimis nature), or # engages in any business activity.

Immaterial Subsidiaries. If on any date either # the aggregate amount of tangible assets and owned intellectual property (valued at the greater of book value or Fair Market Value) of all Non-Pledged Subsidiaries or # the aggregate amount of revenues (excluding intercompany revenues) for the period of four consecutive Fiscal Quarters most recently ended for which financial statements have been delivered pursuant to [Section 8.1(a) or 8.1(b)])] of all Non-Pledged Subsidiaries exceeds $50,000,000, promptly (and, in any event, within 45 days after such date, as such time period may be extended by the Administrative Agent in its sole discretion) cause one or more Non-Pledged Subsidiaries to become Subsidiary Guarantors or Pledged Foreign Subsidiaries in accordance with [Section 8.13(a) or (b)])], as applicable, such that after giving effect thereto, the aggregate amount of tangible assets and owned intellectual property (valued at the greater of book value or Fair Market Value) and the aggregate amount of revenues (excluding intercompany revenues) for the period of four consecutive Fiscal Quarters most recently ended for which financial statements have been delivered pursuant to [Section 8.1(a) or 8.1(b)])] of all Non-Pledged Subsidiaries is, in each case, less than $50,000,000.

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