Collateral Subsidiary means each Subsidiary of the Borrower which owns a direct or indirect interest in a Mortgaged Property.

Collateral Subsidiary means at any date of determination, any Subsidiary of the Issuer that is a Restricted Subsidiary and a Guarantor, and either (x) whose EBITDA (calculated on an unconsolidated basis) for the most recently ended four fiscal quarters ending immediately prior to such date of determination for which financial statements of the Issuer have been furnished pursuant to either clause (1) or clause (2) of Section 4.03(a) exceeds 5.0% of EBITDA of the Issuer and the Restricted Subsidiaries (for the avoidance of doubt on a consolidated basis) for such period (to the extent consolidated EBITDA of the Issuer and the Restricted Subsidiaries for such period is positive) or (y) whose revenues (calculated on an unconsolidated basis) for the most recently ended four fiscal quarters ending immediately prior to such date of determination for which financial statements of the Issuer have been furnished pursuant to either clause (1) or clause (2) of Section 4.03(a) exceeds 5.0% of the aggregate revenues of the Issuer and the Restricted Subsidiaries (for the avoidance of doubt on a consolidated basis) for such period. As of the Issue Date, the Collateral Subsidiaries are Clear Channel UK Limited, Clear Channel Sverige Aktiebolag and Clear Channel Schweiz AG.

Collateral Subsidiary means a Consolidated Subsidiary of the Company all or a portion of the Capital Stock of which has been pledged as Collateral pursuant to the Second-Priority Security Documents and any Subsidiary thereof.

Examples of Collateral Subsidiary in a sentence

The Designated Company may designate a Subsidiary Guarantor that was not a Restricted Subsidiary of the Designated Company on the Closing Date as an Excluded Collateral Subsidiary subject to the terms of the definition thereof, in which event the Guarantee by such Restricted Subsidiary shall be released in accordance with Section 7.09 and the Collateral Agent shall release the Collateral pledged by such Person.
For the avoidance of doubt, no release of Collateral, Subsidiary Borrowers or Subsidiary Guarantors effected in the manner permitted by this Section 9.11 shall require the consent of any holder of obligations under Secured Hedge Agreement or any Treasury Services Agreements.
Note: It is necessary to periodically test the accuracy of payroll to determine if the internal controls in place to safeguard funds are operating as they were designed and assess whether controls are functioning effectively.
The Borrower may designate a Subsidiary Guarantor that was not a Restricted Subsidiary of the Borrower on the Closing Date as an Excluded Collateral Subsidiary subject to the terms of the definition thereof, in which event the Guarantee by such Restricted Subsidiary shall be released in accordance with Section 7.09 and the Collateral Agent shall release the Collateral pledged by such Person.
For purposes of this determination, all requirements applicable to any Guarantor, Collateral Subsidiary, or Subsidiary shall be deemed to apply to any Acquisition Subsidiary.

More Definitions of Collateral Subsidiary

Collateral Subsidiary is defined in clause (b) of Section 7.1.8. --------------------- ---------- -------------

Collateral Subsidiary means all Subsidiaries granting a security interest to Agent and the Lenders hereunder which shall include all present and future Subsidiaries.

Collateral Subsidiary means any Subsidiary of the Company other than an Unrestricted Collateral Subsidiary.

Collateral Subsidiary means each Subsidiary of Guarantor or Borrower which has executed or shall execute a security agreement and other documents in favor of the Lender to secure the Obligations, as set forth on Schedule 1.1(a).

Collateral Subsidiary means, as of any date of determination, any direct or indirect Subsidiary or Affiliate (in the case of investments in preferred stock) of a Borrower through which such Borrower makes an investment in real estate or real estate-related assets or issuer of pass-through certificates, to the extent that all of the Equity Interests of each class owned by any Borrower in such Subsidiary have been pledged to the Agent, for the benefit of the Lenders. For the avoidance of doubt, a Subsidiary or Affiliate that has multiple classes of Equity Interest (e.g. common, preferred, etc.) and in which a Borrower owns only one class of Equity Interests, may become a Collateral Subsidiary if the applicable Borrower owns 100% of the Equity Interests of a particular class and pledges to the Agent 100% of the Equity Interests of such class owned by such Borrower.

Collateral Subsidiary means any Subsidiary (other than Superior Commerce) which at any time has either (i) total assets with a book value (determined in accordance with Agreement Accounting Principles) equal to or greater than five percent (5%) of the Borrower’s Consolidated Net Worth, (ii) annual revenue (determined in accordance with Agreement Accounting Principles) equal to or greater than five percent (5%) of the annual revenue of the Borrower and its Subsidiaries on a consolidated basis (determined in accordance with Agreement Accounting Principles) or (iii) delivered the documents described in Section 6.21.