Direct Subsidiary definition

Direct Subsidiary means the first Material Operating Subsidiary entity below the Corporation in a corporate ownership chain that has an audit committee which is comprised of a majority of independent directors.

Direct Subsidiary means, with respect to any Person, any Subsidiary directly owned by such Person.

Direct Subsidiary means any corporation of which a Participating Employer owns at least eighty percent (80%) of the total combined voting power of all classes of its stock entitled to vote.

Examples of Direct Subsidiary in a sentence

• Direct Subsidiary: Columbia County Farmers National Bank, chartered under the laws of the United States of America, a national banking association.

• Provided, however, that each Participating Employer, by accepting the Board's designation as a Participating Employer under the Plan and formally adopting the Plan, agrees to assume secondary liability for the payment of any benefit accrued or increased while a Participant is employed and on the payroll of a Participating Employer that is a Direct Subsidiary or Indirect Subsidiary of the Participating Employer at the time such benefit is accrued or increased.

• Any such Wholly Owned Direct Subsidiary that is not a Special Restricted Subsidiary as of the date of such investment shall thereafter be considered a Special Restricted Subsidiary.

• In the case of any Restricted Sale of Iusacell Celular or any other Special Restricted Subsidiary as a result of which the Company receives Net Cash Proceeds, 50% of such Net Cash Proceeds shall be applied by the Company, within 180 days of receipt thereof, either (x) to redeem or repurchase for cancellation the Notes in accordance with Article V or (y) by the Company to invest in a Permitted Business conducted by it or by any Wholly Owned Direct Subsidiary at the time of the Restricted Sale.

• The scheme of arrangement was made effective by filing the certified copy of order with Registrar of Companies, Mumbai on 02nd February 2022, further, Arshiya Rail Infrastructure Limited (ARIL) is ceased to be subsidiary company of Arshiya Limited and AMD Business Support Services Private Limited (Direct Subsidiary of ARIL) is ceased to be step down subsidiary company of Arshiya Limited.

More Definitions of Direct Subsidiary

Direct Subsidiary means any Material Operating Subsidiary that is directly owned by the Corporation and that has an audit committee which is comprised of a majority of independent directors.

Direct Subsidiary means, with respect to any Person, any Subsidiary directly owned by such Person. “Dollars” and the sign “$” each means lawful money of the United States.

Direct Subsidiary means, with respect to each Obligor, any Subsidiary of such Obligor whose capital stock or other equity interests are owned directly by such Obligor.

Direct Subsidiary means a Subsidiary in which the shares are owned of record by the Borrower.

Direct Subsidiary means a subsidiary within the meaning of section 5(1)(a) of the Companies Act.

Direct Subsidiary means any company whose shares are at least ninety-nine percent (99%) owned by another company to whom said term refers.

Direct Subsidiary and “Direct Subsidiaries” in the preamble to the Agreement is hereby amended to include Verde Ohio.