Wholly-Owned Status. Ensure that at all times each of the Guarantors is a Wholly Owned Subsidiary of the Borrower.
Wholly-Owned Status. The Borrower will ensure that the Restricted Subsidiaries will be direct or indirect wholly-owned Subsidiaries of the Borrower.
Wholly-Owned Status. Ensure that at all times each of the Guarantors is a Wholly-Owned Subsidiary of the Borrower.
Wholly-Owned Status. Each Material Subsidiary will at all times be a direct or indirect Wholly-Owned Subsidiary of the Borrower.
Wholly-Owned Status. The Borrower and the Restricted Subsidiaries (other than Redearth Partnership) will at all times be direct or indirect wholly-owned Subsidiaries of the Trust and all ownership interests therein shall be held by one or more Harvest Parties. The Borrower and the Restricted Subsidiaries will at all times own not less than an undivided 60% interest in Redearth Partnership if and for so long as Redearth Partnership is a Restricted Subsidiary.
Wholly-Owned Status. The Restricted Subsidiaries will at all times be direct or indirect wholly-owned Subsidiaries of the Borrower and all ownership interests therein shall be held by one or more Harvest Parties.
Wholly-Owned Status. Each Loan Party, other than the Borrower, will be a direct or indirect wholly-owned Subsidiary of the Borrower and to the extent any such Loan Party is indirectly owned, all such ownership interests will be held by Loan Parties.
Wholly-Owned Status. Subject to Section 17.2, the Borrower and the Restricted Subsidiaries that are not Operating JV Development Entities will be direct or indirect wholly-owned Subsidiaries of the Trust, provided that any direct or indirect Subsidiary of the Trust that owns any Voting Securities of an Operating JV Development Entity which is a Restricted JV Development Entity will be a Restricted Subsidiary.”
(e) Section 14.1(t) of the Credit Agreement is hereby amended by:
(i) adding “(other than an Operating JV Development Entity)” immediately after the word “Subsidiary” in the first and third instances in which it appears therein; and
(ii) adding “or as otherwise permitted hereunder” immediately after the words “Section 17.2”.
(f) Section 14.1(v) of the Credit Agreement is hereby amended by adding “directly” immediately after the word “Subsidiaries”.
(g) Section 14.3(i) of the Credit Agreement is hereby amended by adding the following proviso to the end thereof: “; provided that in respect of any such amount attributable to an Operating JV Development Entity which is a Restricted JV Development Entity, the full amount of such debt will be counted in determining compliance with this covenant irrespective of whether or not only a proportionate amount thereof may be attributable to the Trust’s balance sheet on a consolidated basis under GAAP.”
(h) Section 14.3(k) of the Credit Agreement is hereby amended by adding the words “which are not Restricted JV Development Entities” immediately after each reference therein to the words “JV Development Entities” and by adding the word “such” before the words “JV Development Entity”.
(i) Schedule A to the Credit Agreement is hereby amended as follows:
(i) The definition of “Consolidated EBITDA” is hereby amended by:
Wholly-Owned Status. Borrower shall ensure that each of the Subsidiaries (i.e. - each of the Guarantors) is a Wholly-Owned Subsidiary of Borrower.
Wholly-Owned Status. Each of the Subsidiaries of the Borrower is a direct or indirect wholly-owned Subsidiary of the Borrower.
