Delaware Divided LLC definition

Delaware Divided LLC means any Delaware LLC which has been formed upon the consummation of a Delaware LLC Division.

Delaware Divided LLC means any Delaware LLC which has been formed upon the consummation of a Delaware LLC Division. “Delaware LLC” means any limited liability company organized or formed under the laws of the State of Delaware.

Delaware Divided LLC means any Delaware LLC which has been formed upon consummation of a Delaware LLC Division. “Delaware LLC Division” means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act. “Discount Range” has the meaning specified in Section 2.06(d)(ii). “Discounted Prepayment Option Notice” has the meaning specified in Section 2.06(d)(ii). “Discounted Voluntary Prepayment” has the meaning specified in Section 2.06(d)(i). “Discounted Voluntary Prepayment Notice” has the meaning specified in Section 2.06(d)(v). “Disposed EBITDA” means, with respect to any Sold Entity or Business or any Converted Unrestricted Subsidiary for any period, the amount for such period of Consolidated EBITDA of such Sold Entity or Business or such Converted Unrestricted Subsidiary, all as determined on a consolidated basis for such Sold Entity or Business or such Converted Unrestricted Subsidiary. “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition of any property by any Person (including any sale and leaseback transaction and any sale of Equity Interests, but excluding any issuance by such Person of its own Equity Interests), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith and including any disposition of property to a Delaware Divided LLC pursuant to a Delaware LLC Division. “Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, (b) is redeemable at the option of the holder thereof, in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or 26

Examples of Delaware Divided LLC in a sentence

• Other than Permitted Dispositions or transactions expressly permitted by Sections 6.3 or 6.9, Borrower will not, and will not permit any of its Subsidiaries to convey, sell, lease, license, assign, transfer, or otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise dispose of) any of its or their assets (and including any disposition of property to a Delaware Divided LLC pursuant to a Delaware LLC Division).

• Other than Permitted Dispositions or transactions expressly permitted by Sections 6.3 or 6.9, Borrowers will not, and will not permit any of its Subsidiaries to convey, sell, lease, license, assign, transfer, or otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise dispose of) any of its or their assets (and including any disposition of property to a Delaware Divided LLC pursuant to a Delaware LLC Division).

• No Loan Party shall own or create directly or indirectly any Subsidiaries (including without limitation, the formation of any Subsidiary that is a Delaware Divided LLC), other than those existing on the date of this Agreement, those created to own service centers or those consented to by the Lender.

• In addition, Holdings shall not consummate a Delaware LLC Division, unless each Delaware Divided LLC formed thereby executes and delivers to the Administrative Agent joinders to this Agreement and the Security Agreement in form and substance reasonably satisfactory to the Administrative Agent, pursuant to which it becomes a Guarantor under Article X hereunder, a Pledgor under the Security Agreement and agrees to be bound by this Section 7.15.

• Each Credit Party will pledge to the Collateral Agent to secure the Obligations (i) one hundred percent (100%) of the Equity Interests in each of its Domestic Subsidiaries (including, without limitation, each Subsidiary that is a Delaware Divided LLC) (including a pledge by the Parent of 100% of the Equity Interests in the Borrower), and (ii) sixty-five percent (65%) of Equity Interests in each of its First-Tier Foreign Subsidiaries.

More Definitions of Delaware Divided LLC

Delaware Divided LLC means any limited liability company which has been formed upon the consummation of a Delaware LLCDivision.

Delaware Divided LLC means any Delaware LLC which has been formed upon the consummation of a Delaware LLC Division. “Delaware LLC” shall mean any limited liability company organized or formed under the laws of the State of Delaware.

Delaware Divided LLC means any Delaware LLC which has been formed upon the consum- mation of a Delaware LLC Division.

Delaware Divided LLC means any Delaware LLC which has been formed upon the consummation of a Delaware LLC

Delaware Divided LLC means any limited liability company which has been formed upon the consummation of a Delaware LLC Division. “Delaware LLC Division” means the statutory division of any limited liability company into two or more limited liability companies pursuant toSection 18-217 of the Delaware Limited Liability Company Act.

Delaware Divided LLC has the meaning assigned to such term in Section 1.10.

Delaware Divided LLC means any Delaware LLC which has been formed on the consummation of a DelawareLLC Division.