Examples of Covered Subsidiary in a sentence
This task was inspired by real world scenarios such as pre-flight checks performed by pilots, where the order of operations is critical.
The Borrower will, and will cause each Covered Subsidiary to, keep proper books and accounts in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities sufficient to permit the preparation of consolidated financial statements in accordance with GAAP.
The Borrower will not, and will not permit any Covered Subsidiary to, enter into any arrangement, directly or indirectly, with any person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially the same purpose or purposes as the property being sold or transferred.
Neither the Company nor any Covered Subsidiary is a party to any capital lease obligation with a value greater than $500,000 or to any operating lease with an aggregate annual rental greater than $500,000 during the life of such lease.
The Company will, and will cause each Covered Subsidiary to, continue to engage in business of the same general type as now conducted by the Company and such Subsidiaries, and will preserve, renew and keep in full force and effect its respective corporate existence and their respective material rights, privileges and franchises necessary or desirable in the normal conduct of business.