Unit Subsidiary. Unit Subsidiary is a direct Wholly-Owned Domestic Subsidiary of the Borrower (all of the equity interests in which are pledged to the U.S. Pledgee pursuant to the Pledge Agreement). All Non-Qualified Units owned by Holdings or any of its Subsidiaries which are located in the United States of America or any State or territory thereof are owned by the Unit Subsidiary or, if acquired by the Borrower or any of its Subsidiaries after the Effective Date, shall within five Business Days after the month in which such acquisition occurred, be contributed to the equity of the Unit Subsidiary.
Appears in 2 contracts
Samples: Credit Agreement (Williams Scotsman International Inc), Credit Agreement (Williams Scotsman Inc)
