Immaterial Subsidiaries. Borrowers will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.
Appears in 5 contracts
Samples: Credit Agreement, Credit Agreement (Inventure Foods, Inc.), Credit Agreement (Inventure Foods, Inc.)
Immaterial Subsidiaries. Borrowers Borrower will not permit any Immaterial Subsidiary to (a) own any intellectual property or other assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis naturenature or as set forth in clause (e) of Schedule 3.6), or (c) engage in any business activity.
Appears in 3 contracts
Samples: Credit Agreement (Asure Software Inc), Credit Agreement (Asure Software Inc), Credit Agreement (Asure Software Inc)
Immaterial Subsidiaries. Borrowers Borrower will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.
Appears in 3 contracts
Samples: Term Loan Credit Agreement (Nuverra Environmental Solutions, Inc.), Term Loan Credit Agreement (Nuverra Environmental Solutions, Inc.), Credit Agreement (Nuverra Environmental Solutions, Inc.)
Immaterial Subsidiaries. Borrowers Neither Parent nor any Borrower will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.
Appears in 1 contract
Samples: Credit Agreement (Manitowoc Co Inc)
Immaterial Subsidiaries. Borrowers Each Borrower will not permit any Immaterial Subsidiary to (a) own any assets (other than assets the fair market value of a de minimis naturewhich is less than $1,000,000), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.
Appears in 1 contract
Immaterial Subsidiaries. Borrowers will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activityactivity other than the maintenance of its existence and any actions taken to liquidate or wind up the business of such Immaterial Subsidiary.
Appears in 1 contract
Immaterial Subsidiaries. Borrowers Borrower will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.
Appears in 1 contract
Samples: Credit Agreement (Nuverra Environmental Solutions, Inc.)
Immaterial Subsidiaries. Borrowers Borrower will not permit any the Immaterial Subsidiary Subsidiaries to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.
Appears in 1 contract
Immaterial Subsidiaries. Borrowers Borrower will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activityactivity other than the maintenance of its existence and any actions taken to liquidate or wind up the business of such Immaterial Subsidiary.
Appears in 1 contract
