Newly Acquired Subsidiaries Sample Clauses

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:
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Newly Acquired Subsidiaries. 49 Section 8.9. Environmental........................................................................................................ 49
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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.
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Newly Acquired Subsidiaries. (a) If any Loan Party shall form or acquire a Domestic Subsidiary or a Subsidiary organized under the laws of England, Wales or any other any jurisdiction or political subdivision of the United Kingdom after the Closing Date, such Loan Party will promptly notify the Agent thereof and (i) 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), (ii) shall cause such Subsidiary to become a Guarantor hereunder, (iii) 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 and (iv) deliver to the Agent such opinions, certificates and other documents reasonably requested by the Agent.
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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
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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.
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Related to Newly Acquired Subsidiaries

  • Future Subsidiaries If any Grantor hereafter creates or acquires any Subsidiary, simultaneously with the creation or acquisition of such Subsidiary, such Grantor shall (i) if such Subsidiary is a Domestic Subsidiary, cause such Subsidiary to become a party to this Agreement as an additional “Grantor” hereunder, (ii) deliver to the Collateral Agent updated Schedules to this Agreement, as appropriate (including, without limitation, an updated Schedule IV to reflect the grant by such Grantor of a Lien on all Pledged Equity now or hereafter owned by such Grantor), (iii) if such Subsidiary is a Domestic Subsidiary, cause such Subsidiary to duly execute and deliver a guaranty of the Obligations in favor of the Collateral Agent in form and substance acceptable to the Collateral Agent, (iv) deliver to the Collateral Agent the stock certificates representing all of the Capital Stock of such Subsidiary, along with undated stock powers for each such certificates, executed in blank (or, if any such shares of Capital Stock are uncertificated, confirmation and evidence reasonably satisfactory to the Collateral Agent that the security interest in such uncertificated securities has been transferred to and perfected by the Collateral Agent, in accordance with Sections 8-313, 8-321 and 9-115 of the Code or any other similar or local or foreign law that may be applicable), and (v) duly execute and/or cause to be delivered to the Collateral Agent, in form and substance acceptable to the Collateral Agent, such opinions of counsel and other documents as the Collateral Agent shall request with respect thereto; provided, however, that no Grantor shall be required to pledge any Excluded Collateral. Each Grantor hereby authorizes the Collateral Agent to attach such updated Schedules to this Agreement and agrees that all Pledged Equity listed on any updated Schedule delivered to the Collateral Agent shall for all purposes hereunder be considered Collateral. The Grantors agree that the pledge of the shares of Capital Stock acquired by a Grantor of Foreign Subsidiary may be supplemented by one or more separate pledge agreements, deeds of pledge, share charges, or other similar agreements or instruments, executed and delivered by the relevant Grantor in favor of the Collateral Agent, which pledge agreements will provide for the pledge of such shares of Capital Stock in accordance with the laws of the applicable foreign jurisdiction. With respect to such shares of Capital Stock, the Collateral Agent may, at any time and from time to time, in its sole discretion, take actions in such foreign jurisdictions that will result in the perfection of the Lien created in such shares of Capital Stock.

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