Owned Subsidiary. In the event that any additional shares of stock or other ownership interests shall be issued by any Subsidiary, the respective Borrower agrees forthwith to deliver to the Administrative Agent pursuant to the Security Agreement the certificates evidencing such shares of stock or other ownership interests, accompanied by undated stock or other powers executed in blank and to take such other action as the Administrative Agent shall request to perfect the security interest created therein pursuant to the Security Agreement.
Owned Subsidiary. As to any Person, (i) any corporation 100% of whose Capital Stock (other than director's qualifying shares and/or other nominal amounts of shares required by applicable law to be held by Persons other than such Person) is at the time owned by such Person and/or one or more Wholly-Owned Subsidiaries of such Person and (ii) any partnership, limited liability company, association, joint venture or other entity in which such Person and/or one or more Wholly-Owned Subsidiaries of such Person owns 100% of the Capital Stock at such time (other than director's qualifying shares and/or other nominal amounts of interests required by applicable law to be held by Persons other than such Person).
Owned Subsidiary. The Borrower may, after prior written notice to the Agent and Lenders, take such action with respect to any Subsidiary which is not a material part of the Borrower's overall business operations.
Owned Subsidiary. As to the Borrower, REIT or TRS, any Subsidiary of the Borrower, REIT or TRS that is directly or indirectly owned one hundred percent (100%) by the Borrower, REIT or TRS, respectively. For the purposes of this Agreement, the Borrower shall be deemed to be a Wholly-Owned Subsidiary of the REIT. Also for purposes of this Agreement, any Subsidiary owned ninety-nine percent (99%) by the Borrower and one percent (1%), directly or indirectly, by the REIT, shall be deemed to be a Wholly-Owned Subsidiary of the Borrower.
Owned Subsidiary. The Borrower will not permit any Significant Subsidiary to consolidate or merge with or into, or sell, lease or otherwise transfer all or any Substantial part of its assets to, any person other than the Borrower or a Wholly Owned Subsidiary (or a person which as a result of such transaction becomes a Wholly Owned Subsidiary), provided that in the case of any merger or consolidation involving TU Electric or Enserch, such person must assume or be responsible by operation of law for all the obligations of TU Electric or Enserch, as applicable, hereunder, and the Borrower will not in any event permit any such consolidation, merger, sale, lease or transfer if any Default or Event of Default shall have occurred and be continuing at the time of or after giving effect to any such transaction. Notwithstanding the foregoing, (a) neither the Borrower nor any of its Subsidiaries will engage to a Substantial extent in businesses other than those currently conducted by them, or in the case INTERIM FACILITY 48 of Enserch, by Enserch and other businesses reasonably related thereto, (b) neither the Borrower nor any of its Subsidiaries will acquire any Subsidiary or make any investment in any Subsidiary if, upon giving effect to such acquisition or investment, as the case may be, the Borrower would not be in compliance with the covenants set forth in Sections 5.11 and 5.12 and (c) nothing in this Section shall prohibit any sales of assets permitted by Section 5.10(d).
Owned Subsidiary. In the event of a permitted assignment, the terms and conditions of this Agreement will inure to the benefit of and be binding upon the respective successors and assigns of the parties.
Owned Subsidiary. Borrower shall -------------------------------------------- cease to be a wholly-owned Subsidiary of Guarantor.
Owned Subsidiary. If the proposed acquisition is an acquisition of a business unit or all or substantially all of the assets of a Person, the acquisition will be structured so that Borrower or one or more Wholly-Owned Subsidiaries will acquire the assets;
Owned Subsidiary. The Borrower shall remain the Canadian Borrower for any Canadian Advances outstanding on the date a Wholly-Owned Subsidiary is designated to be the Canadian Borrower.
Owned Subsidiary. Any Subsidiary which the Borrower shall at all times own directly or indirectly (through a Subsidiary or Subsidiaries) at least a majority (by number of votes or controlling interests) of the outstanding voting interests and ninety-nine percent (99%) of the economic interests. For purposes of this definition, (i) with respect to any Subsidiary of the Borrower which is a Massachusetts nominee trust, references to such Subsidiary shall be deemed to be references to the beneficiary or beneficiaries of such nominee trust, and (ii) BPLP shall not be permitted to be released from its Obligations as a Borrower hereunder, notwithstanding any provision of Section 8.14.
