Inactive Affiliates Sample Clauses

Inactive Affiliates. The Loan Parties will not, and will not permit any of the Restricted Subsidiaries to, cause or permit Inactive Subsidiaries at any time to (a) own any assets, (b) incur or suffer to exist any liabilities, or (c) engage in any business activity. For the avoidance of doubt nothing contained in this Agreement shall restrict the ability of any Inactive Subsidiaries to cease to exist.
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Inactive Affiliates. Permit any Inactive Affiliate to actively conduct business or own more assets than those owned as of June 30, 1996.
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Inactive Affiliates. Promptly notify Lender in writing if Aetna Handbags of Haiti S.A., Bonlyn Taiwan Co. Ltd. and/or Cosmopolitan of Haiti S.A. actively commence doing business. If any such entity commences actively conducting business, Borrower shall cause such entity to grant Lender a perfected security interest in all the tangible and intangible assets of such entity and to execute and deliver to Lender a guaranty and security agreement in the form executed by the Guarantors and such other documents as Lender may reasonably request.
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Related to Inactive Affiliates

  • Active/Inactive Employee If you are covered under another plan as an active employee, your benefits and those of your dependents under that plan will be determined before benefits under this plan. The plan covering the active employee and dependents will be the primary plan. The plan covering that same employee as inactive (including those who are retired or have been laid off) will be the secondary plan for that employee and dependents.

  • Excluded Employees Employees excluded from the bargaining unit who work for an Employer signatory to this Agreement may participate in any of the foregoing benefits under rules and regulations established by the Trustees. The trustees shall determine the contributions required for such benefits.

  • Term Employees 9.1.2.1 A term employee is entitled to all employee benefits under Article 9 unless otherwise specified.

  • Inactive Subsidiaries The Inactive Subsidiaries do not (a) have assets with an aggregate book value in excess of $1,000,000, (b) have revenue in excess of $1,000,000 in the aggregate and (c) conduct any business activities.

  • Inactivity If you do not access or use the Bill Payment Service for a period of more than ninety (90) days, we may in our sole discretion, terminate your access to and use of the Bill Payment Service without notice to you.