Non-Operating Subsidiaries. As of the date hereof, none of -------------------------- Shelby FSC Corp., Madison Furniture Industries, Inc., Thonet International (UK) Limited, Fundiciones Tecnicas, S.A., Falcon de Baja California, S.A. de C.V., The Falcon Companies International, Inc., The Falcon Companies HK Limited, or Falcon Holdings, Inc., each a Subsidiary of Falcon, has any material assets, operations, business, liabilities or contingent liabilities.
Non-Operating Subsidiaries. Notwithstanding anything to the contrary contained in this Agreement, do any of the following with respect to Silver Crown, Supreme Northwest, or Supreme Xxxxxx, in each case except to the extent necessary to transfer assets to the Borrower or a Subsidiary Guarantor in connection with the liquidation, dissolution, or winding up of any such Subsidiary: (a) sell, assign, transfer, lease, or otherwise dispose of any asset to any such Subsidiary; or (b) make any loan to, Investment in, or otherwise engage in any other transactions with any such Subsidiary.
Non-Operating Subsidiaries. As promptly as practicable after the date of this agreement, the Company shall cause all the Non-Operating Subsidiaries to be (a) merged with the Company or one or more of the Operating Subsidiaries, or (b) dissolved and liquidated.
Non-Operating Subsidiaries. Each of XXXX, XXX, XX0X, XX0X, XX0X, RIL and BHI are non-operating entities with no material assets. WRL is a special purpose entity which owns certain real property and is expressly prohibited from guaranteeing Indebtedness.
Non-Operating Subsidiaries. Borrower acknowledges and agrees that (i) no Subsidiary of Borrower (other than those designated as a Non-Operating Subsidiary as of the Closing Date on Schedule 5.1 annexed hereto), including, without limitation, any Subsidiary acquired or created after the Closing Date, shall constitute, or be designated as, a Non-Operating Subsidiary without the prior written consent of Collateral Agent and Requisite Lenders and (ii) any Non-Operating Subsidiary, whether existing as of the Closing Date or designated as such thereafter in accordance with the preceding clause (i), shall continue as a Non-Operating Subsidiary only for as long as it qualifies as such in accordance with the definition of Non-Operating Subsidiary (both individually and in the aggregate with all other Non-Operating Subsidiaries) and any such Non-Operating Subsidiary shall immediately and without any notice or other action constitute an Operating Subsidiary for all purposes hereunder and the other Loan Documents upon any failure to so qualify; provided that without limiting any of the foregoing, Borrower shall promptly notify Collateral Agent in the event any Non-Operating Subsidiary no longer qualifies as such under the definition thereof. Without limiting the foregoing, Borrower may, by written notice to Collateral Agent, designate any Non-Operating Subsidiary to be an Operating Subsidiary, and thereafter such Subsidiary shall be an Operating Subsidiary for all purposes hereunder, and shall not later be designated a Non- Operating Subsidiary hereunder 96 (even if it would otherwise qualify under the definition of Non-Operating Subsidiary) without the prior written consent of Collateral Agent and Requisite Lenders; provided, further, that anything in this Agreement to the contrary notwithstanding, upon and during a Potential Event of Default under subsection 8.6 with respect to any Non-Operating Subsidiary, neither Borrower nor any of its Subsidiaries shall in any manner advance, transfer, contribute, invest or otherwise convey any funds to or on behalf of such Non-Operating Subsidiary at any time that Rollover Borrowings are permitted hereunder.
Non-Operating Subsidiaries. As promptly as practicable after the date of this Agreement and in accordance with the letter, dated June 16, 1995, from the Company's accountants, KPMG Peat Marwick LLP, to the Company, the Company shall cause all the Non-Operating Subsidiaries to be (a) merged with the Company or one or more of the Subsidiaries of the Company other than another Non-Operating Subsidiary, or (b) dissolved and liquidated.
Non-Operating Subsidiaries. Each Non-Operating Subsidiary conducts no operations or business and has assets, the fair market value of which exceeds $10,000 in the aggregate.
Non-Operating Subsidiaries. None of the Non-Operating Subsidiaries conducts any business or other operations. No event, circumstance, condition or liability (or series of related events, circumstances, conditions or liabilities) with respect to any one or more of the Non-Operating Subsidiaries has occurred or exists or has been incurred that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Non-Operating Subsidiaries. Effective as of the date hereof, Section 8.13 of the Agreement is hereby deleted in its entirety.
Non-Operating Subsidiaries. BL Acquisition and BL Acquisition II (i) do not, individually or collectively, conduct any activities which are material to the operation of the business of Borrower, own any material amount of assets or own any assets which are material to the operation of the business, or maintain any Collateral Accounts and (ii) are not obligated in respect of any Indebtedness, other than Indebtedness incurred pursuant to the Loan Documents.
