Designated Parent definition

Designated Parent means any Parent of the Company which is specifically designated as eligible to participate in the Plan by the Committee from time to time in its sole discretion.

Designated Parent means any Parent which has been designated by the Board from time to time in its sole discretion as eligible to participate in the Plan.

Designated Parent means the Parent Corporation of the Company if so specifically designated as eligible to participate in the Plan by the Board in its sole discretion.

Examples of Designated Parent in a sentence

• The Plan does not, directly or indirectly, create any right for the benefit of any employee or class of employees to purchase any shares under the Plan, or create in any employee or class of employees any right with respect to continuation of employment by the Company or a Designated Parent or Subsidiary, and it shall not be deemed to interfere in any way with such employer’s right to terminate, or otherwise modify, an employee’s employment at any time.

• The Participants shall have no claim against the Company or any Designated Parent or Subsidiary for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan.

• The Plan does not, directly or indirectly, create any right for the benefit of any employee or class of employees to purchase any shares under the Plan, or create in any employee or class of employees any right with respect to continuation of employment by the Company or a Designated Parent or Subsidiary, and it shall not be deemed to interfere in any way with such employer's right to terminate, or otherwise modify, an employee's employment at any time.

• Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Administrator, the Company or any Designated Parent or Subsidiary and a Participant, or otherwise create any vested or beneficial interest in any Participant or the Participant’s creditors in any assets of the Company or a Designated Parent or Subsidiary.

• The Plan does not, directly or indirectly, -------------------- create any right for the benefit of any employee or class of employees to purchase any shares under the Plan, or create in any employee or class of employees any right with respect to continuation of employment by the Company or a Designated Parent or Subsidiary, and it shall not be deemed to interfere in any way with such employer's right to terminate, or otherwise modify, an employee's employment at any time.

• If not a Designated Parent Borrower, such Borrower, or to the extent such Borrower is a series of a Delaware LLC, a Trust or a Maryland corporation, such Delaware LLC, such Trust or such Maryland corporation on behalf of such Borrower, has no Subsidiaries and no equity investments or any interest in any other Person other than portfolio securities (including investment company securities) which may have been acquired in the ordinary course of business.

• Such Borrower will not at any time have any Subsidiaries other than, with respect to each Designated Parent Borrower only, its Designated Subsidiaries.

• The Participants will have no claim against the Company or any Designated Parent or Subsidiary for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan.

• The Plan does not, directly or indirectly, create any right for the benefit of any employee or class of employees to purchase any shares under the Plan, or create in any employee or class of employees any right with respect to continuation of employment by the Company or a Designated Parent or Subsidiary, and it will not be deemed to interfere in any way with such employer’s right to terminate, or otherwise modify, an employee’s employment at any time.

• If it is a Designated Parent Borrower, such Borrower will not permit its Designated Subsidiaries to engage in any business or activity other than those permitted under such Designated Parent Borrower’s Prospectus.

More Definitions of Designated Parent

Designated Parent means any Parent which has been designated from time to time by the Committee to participate in the Plan.

Designated Parent means any Parent of the Company which is specifically designated as eligible to participate in the Plan by the

Designated Parent means any Parent designated by the Board in accordance with Section 2.1.

Designated Parent means, (a) initially, the Issuer and (b) any other direct or indirect parent of the Designated Parent designated as the new “Designated Parent” by the Issuer, provided that (i) such new Designated Parent (if other than the Issuers) executes and delivers to the Trustee a supplemental indenture pursuant to which such new Designated Parent guarantees payment of the Notes and assumes all the obligations of the Designated Parent under this Indenture, (ii) the Issuer provides an Officers’ Certificate to the Trustee designating such Person as the Designated Parent, (iii) immediately after giving effect to such designation, no Default shall have occurred and be continuing and (iv) such new Designated Parent shall own, directly or indirectly, 100% of the Issuer’s Voting Stock. Upon any such designation of a new Designated Parent, the Person who was formerly the Designated Parent shall cease to be the Designated Parent and all references in this Indenture to the Designated Parent shall be references to the new Designated Parent only. Notwithstanding anything herein to the contrary, upon the designation of any new Designated Parent, such new Designated Parent shall be deemed to have been the Designated Parent since the Issue Date for the purpose of all calculations of amounts under this Indenture.

Designated Parent means, (a) initially, the Lux Borrower, until a new person is designated as the Designated Parent pursuant to Section 2.26(a) and (b) thereafter, the person that is then designated as the Designated Parent pursuant to Section 2.26(a).