Dissolved Subsidiaries definition
Examples of Dissolved Subsidiaries in a sentence
The Dissolved Subsidiaries are hereby released as Subsidiary Guarantors under the Indenture as a result of the dissolution thereof.
A complete list of the Borrower’s Active Subsidiaries is set forth in Exhibit 7.1(o), a complete list of Borrower’s Inactive Subsidiaries is set forth in Exhibit 11.10, a complete list of Borrower’s Dissolved Subsidiaries is set forth in Exhibit 17.
Borrowers will use their best efforts to wind up the affairs of the Dissolved Subsidiaries and dissolve the Dissolved Subsidiaries on or before July 1, 2002.
The consolidation and/or dissolution of the Dissolved Subsidiaries did not involve an acquisition or disposition of a significant amount of assets, other than to the Company or one of its remaining subsidiaries.
Since December 31, 2022, the Dissolved Subsidiaries have not conducted any business.
As of the Closing Date, Borrower has no wholly-owned Subsidiary other than the Closing Date Guarantors and the Dissolved Subsidiaries.
The affairs of the Subsidiaries listed in Disclosure Schedule (3.25) (the "Dissolved Subsidiaries") are in the process of being wound up and Borrowers will diligently prosecute such wind up and an ultimate dissolution of the Dissolved Subsidiaries and use their best efforts to complete the dissolution of the Dissolved Subsidiaries on or before July 1, 2002.
Pursuant to the terms hereof, the Lenders party hereto hereby consent to the dissolution of the Dissolved Subsidiaries.
The Borrower’s dissolution of the Dissolved Subsidiaries resulted in the occurrence of an Event of Default under Section 9.1(f) of the Credit Agreement due to the Borrower’s failure to comply with Section 8.1 of the Credit Agreement (the “Dissolution Default”).
To the Knowledge of the Company, no decision of any of creditors has been received by the Dissolved Subsidiaries and no proposal has been made for a moratorium, composition or arrangement in relation to any of their debts.