Ownership of Subsidiaries; etc. Except as otherwise contemplated by Sections 10.02, 10.05 and 10.11, Aleris will cause each of its Subsidiaries to be a Wholly-Owned Subsidiary. The sale or issuance of the Equity Interests of a Subsidiary of Aleris to a Person other than Aleris or a Subsidiary of Aleris shall constitute an Investment by Aleris therein at the date of designation in an amount equal to the product of (x) percentage of Aleris’s Investment in such Subsidiary (after giving effect to such sales or issuance) and (y) the fair market value of the net assets of the respective Subsidiary at the time that the Equity Interests in such Subsidiary as sold at issue.
Appears in 5 contracts
Samples: Credit Agreement (Aleris Ohio Management, Inc.), Credit Agreement (Aleris Ohio Management, Inc.), Credit Agreement (Aleris Ohio Management, Inc.)
