Principal Subsidiaries. Permit the combined EBITDAX of the Borrower and the Principal Subsidiaries to be less than 80% of the consolidated EBITDAX of the Borrower and its Subsidiaries as shown on the most recent consolidated income statement required to be delivered to the Banks pursuant to Section 5.01(b).
Principal Subsidiaries. Set forth on Schedule II are all of the Principal Subsidiaries as of the date hereof.
Principal Subsidiaries. The Agent is hereby authorized to release ---------------------- any Principal Subsidiary from the Subsidiary Guaranty (Multi-Year Revolving Credit Facility) in connection with any disposition or merger of such Principal Subsidiary permitted hereunder.
Principal Subsidiaries. 34 6.16 Year 2000..........................................................................34
Principal Subsidiaries. 52 ARTICLE 11 MISCELLANEOUS.................................................. 52
Principal Subsidiaries. The Company shall supply to the Agent with each set of financial statements delivered by it pursuant to paragraph (a)(ii), (a)(vi) or (a)(vii) of Clause 20.1 (Financial statements) or, within 14 days after any request made by the Agent (acting reasonably), a certificate signed on its behalf by two authorised signatories of the Company, one of which is the chief executive officer or the chief financial officer of the Company:
(a) listing the Principal Subsidiaries as at the end of the Relevant Period (or, as at the date specified in the Agent’s request, which date must be not less than 15 nor more than 45 days before the date of the request and which must be at the end of a month); and
(b) setting out in reasonable detail and in a form satisfactory to the Agent the computations necessary to justify the inclusions in, and exclusions from, that list.
Principal Subsidiaries. (a) Fail to own, directly or indirectly, all of the outstanding shares of common stock of each of the Principal Subsidiaries or (b) create, incur, assume or suffer to exist any Lien upon any shares of common stock of any Principal Subsidiary owned by the Company or any of its Subsidiaries except Liens of the nature referred to in clauses (a), (f), (j) and (k) of subsection 7.2.
Principal Subsidiaries. Schedule II to the Credit Agreement is hereby replaced in its entirety by the Schedule II attached hereto.
Principal Subsidiaries. The Company shall promptly inform the Agent of the identity of each member of the Principal Subsidiary Group in each certificate which the Company delivers under Clause 21.2(a)(iii) (Financial information). That certificate shall set out in reasonable detail computations establishing that the aggregate EBITDA and Net Assets of the Principal Subsidiary Group equals or exceeds 75 per cent. of Consolidated EBITDA and Net Assets of the Group respectively.
Principal Subsidiaries. (a) On the Effective Date, Principal Subsidiaries shall consist of the Subsidiaries listed as such on Schedule 5.01(b).
(b) Subject to the provisions of Section 8.02(d)(ii)(S), upon the occurrence of the last of each of the following events with respect to a Subsidiary organized under the laws of any jurisdiction within the United States or any state thereof, such Subsidiary shall become a Principal Subsidiary: (i) all of the Voting Stock of the Subsidiary owned by the Borrower or Restricted Subsidiaries is pledged to secure the Loans under the Security Documents and (ii) notice shall have been received by the Administrative Agent.
(c) Subject to the provisions of Section 8.02(d)(ii)(S), upon the occurrence of the last of each of the following events with respect to a Subsidiary organized under the laws of a jurisdiction outside the United States, such Subsidiary shall become a Principal Subsidiary: (i) the lesser of the Voting Stock owned by the Borrower or Restricted Subsidiaries or 66% of the Voting Stock of the Subsidiary is pledged to secure the Loans under the Security Documents to the extent legally permissible, except as determined by the Administrative Agent to be impractical and (ii) notice of the foregoing shall have been received by the Administrative Agent.
(d) Subject to the provisions of Section 8.02(d)(ii)(T), upon the occurrence of the last of each of the following events a Principal Subsidiary shall become an Unrestricted Subsidiary voluntarily: (i) the Principal Subsidiary is designated as an Unrestricted Subsidiary by the Board of Directors of the Parent and (ii) notice of the foregoing shall have been received by the Administrative Agent. Upon conversion to a Unrestricted Subsidiary pursuant to this paragraph (d), provided that no Default exists, the Administrative Agent shall release the Capital Stock of such Unrestricted Subsidiary from the Lien of the Security Documents.
(e) Upon the occurrence of any of the following events a Principal Subsidiary shall automatically and without further action by any Person become an Unrestricted Subsidiary: (i) all of the Voting Stock of the Principal Subsidiary owned by the Borrower or Restricted Subsidiaries is not pledged to secure the Loans under the Security Documents to the extent legally permissible, except as determined by the Administrative Agent to be impractical, (ii) the pledge of the Capital Stock of the Principal Subsidiary is not enforceable or (iii) a conversion of the Principal Sub...
