Common use of Inactive Subsidiary Clause in Contracts

Inactive Subsidiary. The Inactive Subsidiary does not (i) have any liabilities, (ii) own any assets, or (iii) engage in any operations or business.

Inactive Subsidiary. The Inactive Subsidiary does not (i) have any liabilities, (ii) own any assets, or (iii) material assets and does not engage in any operations or businessbusiness activity whatsoever, except that the Inactive Subsidiary is the co-issuer of the Senior Notes pursuant to the Indenture.

Inactive Subsidiary. The Inactive Subsidiary does not (i) have any liabilities, (ii) own any assets, or (iii) material ------------------- assets and does not engage in any operations or businessbusiness activity whatsoever.

Inactive Subsidiary. The Inactive Subsidiary does not (i) have any liabilitiesmaterial operations or conduct any material business, or (ii) own any assets, have assets of $50,000 or (iii) engage in any operations or businessgreater.

Inactive Subsidiary. The Permit the Inactive Subsidiary does not to (i) have incur any liabilities, (ii) own or acquire any assets, asset or (iii) engage in any operations or business.

Inactive Subsidiary. The Inactive Subsidiary does not (ia) own any assets (other than assets of a de minimis nature), (b) have any liabilities, liabilities (ii) own any assetsother than liabilities of a de minimus nature), or (iiic) engage in any operations or businessbusiness activity. If at any time the Inactive Subsidiary shall cease to satisfy any of the requirements for an Inactive Subsidiary, Borrowers shall promptly give written notice of such occurrence to Lender and shall comply with Section 3.3.

Inactive Subsidiary. The Inactive Subsidiary does not (i) have does not own or hold any liabilitiesassets, (ii) own any assetshas no liabilities, or and (iii) engage in does not conduct any operations or businessbusiness operations, and will not do any of the foregoing after the Closing Date without the prior written consent of Agent.