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 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.

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.

• South Texas Drilling Company, a Texas corporation—100% Direct Subsidiary.

• South Texas Offshore Drilling Company, a Texas corporation—100% Direct Subsidiary.

• A new Class of Equity Interests shall be deemed created at the Direct Subsidiary Debtor Group reflecting the Equity Interests held by the Rejecting Debtor Group.

• The transactions described in this Section 1.1 will be effected in such manner that (a) Newco will own all of the Foreign Subsidiary Shares, (b) Newco will have no other assets or liabilities (other than its initial 25,000 Euro cash capitalization) and (c) STEAG will own 100% of the issued and outstanding capital stock of Newco (the "Newco Shares" and, together with the Direct Subsidiary Shares, the "STEAG Shares").

More Definitions of Direct Subsidiary

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.

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 within the meaning of section 5(1)(a) of the Companies Act.

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

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 means any corporation of which a Participating