Divided LLC definition

Divided LLC means a limited liability company which has been formed upon the consummation of an LLC Division.

Divided LLC means any LLC which has been formed upon the consummation of an LLC Division.

Divided LLC means any Delaware LLC which has been formed as a consequence of a Division (excluding any dividing Delaware LLC that survives a Division).

Examples of Divided LLC in a sentence

• Other than Permitted Dispositions or transactions expressly permitted by Sections 6.3 or 6.9, Borrower will not, and will not permit any of its Subsidiaries to convey, sell, lease, license, assign, transfer, or otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise dispose of) any of its or their assets (and including any disposition of property to a Delaware Divided LLC pursuant to a Delaware LLC Division).

• Other than Permitted Dispositions or transactions expressly permitted by Sections 6.3 or 6.9, Borrowers will not, and will not permit any of its Subsidiaries to convey, sell, lease, license, assign, transfer, or otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise dispose of) any of its or their assets (and including any disposition of property to a Delaware Divided LLC pursuant to a Delaware LLC Division).

• No Loan Party shall own or create directly or indirectly any Subsidiaries (including without limitation, the formation of any Subsidiary that is a Delaware Divided LLC), other than those existing on the date of this Agreement, those created to own service centers or those consented to by the Lender.

• In addition, Holdings shall not consummate a Delaware LLC Division, unless each Delaware Divided LLC formed thereby executes and delivers to the Administrative Agent joinders to this Agreement and the Security Agreement in form and substance reasonably satisfactory to the Administrative Agent, pursuant to which it becomes a Guarantor under Article X hereunder, a Pledgor under the Security Agreement and agrees to be bound by this Section 7.15.

• Each Credit Party will pledge to the Collateral Agent to secure the Obligations (i) one hundred percent (100%) of the Equity Interests in each of its Domestic Subsidiaries (including, without limitation, each Subsidiary that is a Delaware Divided LLC) (including a pledge by the Parent of 100% of the Equity Interests in the Borrower), and (ii) sixty-five percent (65%) of Equity Interests in each of its First-Tier Foreign Subsidiaries.

More Definitions of Divided LLC

Divided LLC means any Delaware limited liability company which has been formed as a consequence of a Division (excluding any dividing Delaware limited liability company that survives a Division).

Divided LLC means a limited liability company which has been formed upon the consummation of an LLC Division. “Divided LP” means a limited partnership which has been formed upon the consummation of an LP Division.

Divided LLC means any limited liability company which has been formed upon the consummation of an LLC Division. “Documentation Agent” means, solely with respect to the Term A Facility and the Revolving Credit Facility, BMO Harris Bank,N.A. and Santander Bank, N.A.

Divided LLC means any LLC which has been formed upon the consummation of an LLC Division. “Dollar” and “$” mean lawful money of the United States. “Domestic Subsidiary” means any direct or indirect Subsidiary that is organized under the laws of the United States, any state or commonwealth thereof, or the District of Columbia. “Drug Acquisition” means any acquisition (including any license or any acquisition of any license) solely or primarily of all or any portion of the rights in respect of one or more drugs or pharmaceutical products, whether in development or on market (including related intellectual property), but not of Equity Interests in any Person or any operating business unit unless such rights constitute all or substantially all of such Person’s or operating business’ assets. “Early Opt-in Effective Date” means, with respect to any Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders. “Early Opt-in Election” means the occurrence of: (a) a determination by the Administrative Agent, or a notification by the Borrower to the Administrative Agent that the Borrower has made a determination, that U.S. dollar-denominated syndicated credit facilities currently being executed, or that include language similar to that contained in Section 3.03(c), are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR, and (b) the joint election by the Administrative Agent and the Borrower to replace LIBOR with a Benchmark Replacement and the provision by the Administrative Agent of written notice of such election to the Lenders. “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a Subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with it...

Divided LLC means any LLC which has been formed upon the consummation of an LLC Division.” “‘Fitch’ means Fitch Inc., and any successor thereto.”

Divided LLC means a limited liability company which has been formed upon the consummation of an LLC Division. “Dollars” or “$” means the lawful currency of the United States of America.

Divided LLC means any limited liability company which has been formed upon the consummation of an LLC Division. “Dollars” or “$” refers to lawful money of the United States of America.