Common use of Inactive Subsidiary Clause in Contracts

Inactive Subsidiary. The Borrower shall not permit Penford Export Corporation to engage in any operations, conduct any business or own any assets having an aggregate value in excess of $50,000.

Appears in 4 contracts

Samples: Credit Agreement (Penford Corp), Credit Agreement (Penford Corp), Credit Agreement (Penford Corp)

AutoNDA by SimpleDocs

Inactive Subsidiary. The Borrower shall not permit Penford Export Corporation to engage in any operations, conduct any business or own any assets having an aggregate value in excess of $50,00057,500.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Penford Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.