Covenant to Give Security. (a) Upon (x) the formation or acquisition of any new direct Subsidiary by the Borrower or AES BVI II having a fair market value in excess of $3,000,000 or (y) the Investment by the Borrower and its Subsidiaries in any direct Subsidiary of the Borrower or AES BVI II that was not a “Pledged Subsidiary” on the Closing Date such that aggregate assets of such Subsidiary have a fair market value in excess of $3,000,000, then in each case at the Borrower’s expense:
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Samples: Credit and Reimbursement Agreement (Aes Corp), Credit and Reimbursement Agreement (Aes Corp), Reimbursement Agreement (Aes Corp)
Covenant to Give Security. (a) Upon (x) the formation or acquisition of any new direct Subsidiary by the Borrower or AES BVI II having a fair market value in excess of $3,000,000 or (y) the Investment by the Borrower and its Subsidiaries in any direct Subsidiary of the Borrower or AES BVI II that was not a “Pledged Subsidiary” on the Closing Date such that aggregate assets of such Subsidiary have a fair market value in excess of $3,000,000, then in each case at the Borrower’s expense, the Borrower shall:
Appears in 1 contract
Covenant to Give Security. (a) Upon (x) the formation or acquisition of any new direct Subsidiary Subsidiaries by the Borrower or AES BVI II having a fair market value in excess of $3,000,000 or (y) the Investment by the Borrower and its Subsidiaries in any direct Subsidiary of the Borrower or AES BVI II that was not a “"Pledged Subsidiary” " on the Closing Date such that aggregate assets of such Subsidiary have a fair market value in excess of $3,000,0001,000,000, then in each case at the Borrower’s 's expense:
Appears in 1 contract
Samples: Reimbursement and Exchange Agreement (Aes Corporation)
