Newly Acquired Subsidiaries. During the Policy Period, if the Named Insured or any Subsidiary acquires another entity whose annual revenues are more than ten percent (10%) of the Named Insured’s total annual revenues for the four quarterly periods directly preceding inception of the Policy Period, such acquired entity shall not be a Subsidiary, and no Insured shall have coverage under this Policy for any Claim or Loss that arises out of any act, error omission, incident or event whether committed before or after such acquisition:
1. by or on behalf of the acquired entity or any person employed by the acquired entity;
2. involving or relating to the assets, liabilities, Covered Media Activities or policies or procedures of the acquired entity or to data, information, computers, or networks, security systems, of or under the care, custody or control of the acquired entity, a Business Associate of the acquired entity, or a third party on behalf of the acquired entity; or
3. by any person or entity holding, processing, managing or transferring information or operating Computer Systems on behalf of the acquired entity; unless the Named Insured gives the Underwriters written notice prior to the acquisition, obtains the Underwriters' written consent to extend coverage to such additional entities, assets, exposures, or Computer Systems, and agrees to pay any additional premium required by the Underwriters. If during the Policy Period the Named Insured or any Subsidiary acquires a privately held entity whose annual revenues are more than ten percent (10%) of the Named Insured’s total annual revenues for the four quarterly periods directly preceding inception of the Policy Period, then, subject to the Policy Period and all other terms and conditions of this Policy, coverage under this Policy shall be afforded for a period of sixty (60) days, but only for any Claim that arises out of any act, error or omission first committed or incident or event first occurring after the entity becomes so owned. Coverage beyond such sixty (60) day period shall only be available if the Named Insured gives the Underwriters written notice of the acquisition, obtains the written consent of Underwriters to extend coverage beyond such sixty (60) day period to the entity and agrees to pay any additional premium required by Underwriters.
Newly Acquired Subsidiaries. If during the Policy Period, the Named Insured or any Subsidiary acquires another entity whose annual revenues are more than ten percent (10%) of the Named Insured’s total annual revenues as set forth in the most recent application for insurance, then no Insured shall have coverage under this Policy for any Claim or requirement to pay Privacy Notification Costs that arises out of any act, error omission, incident or event whether committed before or after such acquisition:
i. by the acquired entity or any person employed by the acquired entity;
ii. involving or relating to the, assets, liabilities, Covered Media Activities or policies or procedures of the acquired entity or to data, information, computers, or networks, security systems, of or under the care, custody or control of the acquired entity; or
iii. by any person or independent contractor holding, processing or transferring information or operating Computer Systems on behalf of the acquired entity; unless the Named Insured gives Underwriters written notice prior to the acquisition, obtains the Underwriters' written consent to extend coverage to such additional entities, assets, exposures, or Computer Systems, and agrees to pay any additional premium required by the Underwriters.
Newly Acquired Subsidiaries. If during the Policy Period the Named Insured or any Subsidiary acquires any entity whose annual revenues are more than fifteen percent (15%) of the Named Insured’s total annual revenues for the four quarterly periods directly preceding inception of the Policy Period, then, subject to the Policy Period and all other terms and conditions of this Policy, coverage under this Policy shall be afforded for a period of sixty (60) days, but only for any Claim that arises out of any act, error or omission first committed or incident or event first occurring after the entity becomes so owned. Coverage beyond such sixty (60) day period shall only be available if the Named Insured gives the Underwriters written notice of the acquisition, obtains the written consent of the Underwriters to extend coverage to the entity beyond such sixty (60) day period and agrees to pay any additional premium required by the Underwriters.
Newly Acquired Subsidiaries. 49 Section 8.9. Environmental........................................................................................................ 49
Newly Acquired Subsidiaries. During the Policy Period, if the Named Insured or any Subsidiary acquires another entity whose annual revenues are more than fifteen percent (15%) of the Named Insured’s total annual revenues for the four quarterly periods directly preceding inception of the Policy Period, such acquired entity shall not be a Subsidiary, and no Insured shall have coverage under this Policy for any Claim or Loss that arises out of any act, error omission, incident or event whether committed before or after such acquisition:
Newly Acquired Subsidiaries. Except for the Subsidiaries set forth on Schedule 8.8 (the "Excluded Subsidiaries"), if any Loan Party shall form or acquire a Subsidiary organized under the laws of any jurisdiction of the United States, Canada or the United Kingdom after the Closing Date, such Loan Party will promptly notify the Agent thereof and (a) such Loan Party will take such action to create and perfect Liens on such Subsidiary's assets to secure the Lender Obligations as the Agent shall reasonably request (to the same extent as other similarly situated Loan Parties), (b) shall cause such Subsidiary to become a Guarantor hereunder and (c) if any shares of capital stock or other ownership interests of such Subsidiary are owned by or on behalf of any Loan Party, such Loan Party will cause such shares or other ownership interests to be pledged within ten (10) Business Days after such subsidiary is formed or acquired. In no event shall compliance with this section waive or be deemed a waiver of or consent to any transaction prohibited by this Agreement.
Newly Acquired Subsidiaries. Execution of Guaranty; Pledge of Capital Stock...........................111 9.17 Interest in Industra Service Corporation....................111 9.18 Certain Motor Vehicles......................................112 9.19
Newly Acquired Subsidiaries. On or prior to May 28, 2003, the Company and the Guarantors shall cause each of O.W.D., Incorporated and Xxxxxx Lake Plastics, Incorporated to either (i) execute a guarantee on the Notes and on the 2002 Notes in accordance with the terms of the Indenture and the indenture governing the 2002 Notes (the "2002 Indenture"), respectively, (ii) be properly designated as an Unrestricted Subsidiary (as defined in the Indenture or the 2002 Indenture, as applicable) in accordance with the terms and provisions of each of the Indenture and the 2002 Indenture, respectively, or (iii) transfer all of its assets to the Company or a Guarantor and then be dissolved, be merged out of existence or otherwise cease to exist. The Company shall deliver to the Underwriters and its counsel evidence of such execution, designation, dissolution, merger or non-existence on or prior to May 28, 2003.
