Direct Foreign Subsidiary definition

Direct Foreign Subsidiary means a Subsidiary other than a Domestic Subsidiary a majority of whose Voting Securities, or a majority of whose Subsidiary Securities, are owned by the Borrower or a Domestic Subsidiary.

Direct Foreign Subsidiary means any Foreign Subsidiary if Equity Interests representing more than 50% of either the aggregate ordinary voting power or the aggregate equity value represented by the issued and outstanding Equity Interests of such Person are owned by the Company, a Domestic Subsidiary or any combination thereof.

Direct Foreign Subsidiary means a Foreign Subsidiary a majority of whose Voting Securities, or a majority of whose Subsidiary Securities, are directly owned by WFS or a Domestic Subsidiary of WFS that is a Guarantor.

Examples of Direct Foreign Subsidiary in a sentence

• The Securities pledged by each of the Pledgors hereunder constitute 65% of the issued and outstanding Shares of the respective Direct Foreign Subsidiary owned by each of the Pledgors.

• No Credit Party has entered into or shall enter into a security agreement, deed of pledge or other equivalent document under such local law with respect to the Stock of any Direct Foreign Subsidiary of such Credit Party, other that in favor of the Pre-Petition Indenture Trustee for the benefit of the holders of the Pre-Petition Senior Secured Notes.

• Notwithstanding the release of any Subsidiary from its obligations under the Facility Guaranty (or release of the Lien on any Pledged Interests of any Subsidiary), if such Subsidiary is thereafter a Significant Subsidiary that is a Domestic Subsidiary or Direct Foreign Subsidiary, the requirements of Section 7.12 shall again apply to such Subsidiary.

• Section 5.22 of the Credit Agreement provides that Domestic Subsidiaries which own or acquire a Significant Direct Foreign Subsidiary and which are not Pledgors must become Pledgors by, among other things, executing and delivering to the Agent a counterpart to this Agreement.

• The Bank shall not be required to exhaust any right or remedy or take any action against any Direct Foreign Subsidiary or any other person or entity or any collateral.

More Definitions of Direct Foreign Subsidiary

Direct Foreign Subsidiary means any Foreign Subsidiary the Equity Interests in which are owned directly by a Loan Party.

Direct Foreign Subsidiary means a Foreign Subsidiary a majority of whose Voting Securities, or a majority of whose Subsidiary Securities, are owned by the Borrower or a Domestic Subsidiary.

Direct Foreign Subsidiary means any Foreign Subsidiary a majority of whose outstanding voting stock is owned directly by Mxxxxx or a Domestic Subsidiary.

Direct Foreign Subsidiary means a Foreign Subsidiary that is a first-tier Foreign Subsidiary of a Credit Party.

Direct Foreign Subsidiary means a Subsidiary other than a Domestic Subsidiary a majority of whose Voting Stock, or a majority of whose Subsidiary Securities, are owned by the US Borrower or a Domestic Subsidiary.

Direct Foreign Subsidiary means any Foreign Subsidiary of a Loan Party or a Domestic Subsidiary not held through one or more intermediate Subsidiaries.

Direct Foreign Subsidiary means a Foreign Subsidiary or CFCHC directly owned by a Loan Party.