Finance Subsidiaries Clause Samples

Finance Subsidiaries. The Borrowers shall not suffer or permit Vitran Vrt (Hungary) or Vitran Spain Holding S.L. (Spain) to own any assets other than assets of nominal value, to incur any liabilities other than nominal liabilities or to carry on any business.

Finance Subsidiaries. None of New Finco1, New Finco2 and Luxco shall, and FSE shall ensure that each such Finance Subsidiary shall not, trade, carry on any business, own any assets or incur any liabilities except for (i) the making of intercompany loans and advances to other members of the Consolidated Group, and its holding of intercompany notes (including the Intercompany Notes) and cash and Cash Equivalents, (ii) any liabilities under the Credit Documents (or, in the case of New Finco2, the Bridge Credit Agreement and any Refinancing Securities and documentation related thereto) to which it is a party and professional and directors’ fees and administration costs in the ordinary course of business as a finance company, (iii) in the case of New Finco1, New Finco2 and Luxco, pursuant to any FSE Back-to-Back Swap Contracts which it and FSE determine are reasonably related to its Obligations hereunder (or, in the case of New Finco2, the Bridge Credit Agreement or any permitted refinancing thereof); provided that such Finance Subsidiaries shall only be permitted to enter into FSE Back to Back-to-Back Swap Contracts if at the time of the entering into thereof, it also enters into a ▇▇▇▇▇ Back-to-Back Swap Contract with the respective borrower of the Intercompany Loans extended by it which mirrors the terms of the respective FSE Back-to-Back Swap Contract (thereby providing New Finco1, New Finco2 or Luxco, as the case may be, with rights to receive payments from the respective Intercompany Loan borrower which mirror any payment obligations New Finco1, New Finco2 or Luxco, as the case may be, has under the respective FSE Back-to-Back Swap Contract), (iv) such Finance Subsidiaries may enter into ▇▇▇▇▇ Back-to-Back Swap Contracts as contemplated by preceding clause (iii), and (v) other activities reasonably related to the foregoing (but not the incurrence of Indebtedness or other contractual liabilities).

Finance Subsidiaries. The Borrowers shall not suffer or permit Multimodal Finance L.L.C. to own any assets other than assets of nominal value, to incur any liabilities other than nominal liabilities or to carry on any business.

Finance Subsidiaries. Upon or prior to the designation of any Finance Subsidiary as contemplated by clause (i) of the definition of “Finance Subsidiary”, deliver to the Administrative Agent the documents identified in Exhibit I for such Finance Subsidiary and each of its Subsidiaries. Promptly after any Person becomes an Investee Subsidiary (or a new Subsidiary of a Finance Subsidiary), the Borrower will cause such Investee Subsidiary (or such new Subsidiary), to duly execute the Finance Subsidiary Guaranty and will deliver to the Administrative Agent the documents, in respect of the Finance Subsidiary Guaranty and such Investee Subsidiary (or such new Subsidiary), identified in Exhibit I, but appropriately modified to cover such Investee Subsidiary (or such new Subsidiary) rather than the Finance Subsidiary.