Equity Subsidiary definition

Equity Subsidiary means any Subsidiary of the Company or any other entity for which the Company is entitled to account under principles of equity accounting and with respect to which the Company has previously delivered to the Trust and the PD Trust a certificate of the Company's chief financial officer stating that the Company is entitled to use such accounting treatment. EVENT OF DEFAULT, as used with respect to the Second Bond, has the meaning assigned to it in Section 3.1 of the Second Bond.

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Equity Subsidiary means any Subsidiary of NHLP that is accounted for on the financial statements of NHLP using the equity method of accounting as required by GAAP.

Equity Subsidiary means any Subsidiary of Manville or any other entity for which Manville is entitled to account under principles of equity accounting and with respect to which Manville has previously delivered to the Trust and the PD Trust a certificate of Manville's chief financial officer stating that Manville is entitled to use such accounting treatment. Event of Default, as used with respect to the Second Bond, has the meaning assigned to it in Section 3.1 of the Second Bond.

Examples of Equity Subsidiary in a sentence

• Any insurance payments received from policies maintained by the Owner Lessor, the Equity Subsidiary, the Equity Subsidiary Holding Company, the Equity Investor or the Lease Indenture Trustee pursuant to the previous sentence shall be retained by such Person, without reducing or otherwise affecting the Facility Lessee's obligations hereunder.

• Any member of the Group or any Equity Subsidiary abandons all or a significant part of the Development for a period of twenty eight days or more.

• Notwithstanding the foregoing, no Equity Subsidiary shall be required to grant any collateral security in any of its assets under the Guarantee and Security Agreement, but shall only be required to be a Subsidiary Guarantor thereunder.

• Borrower will not suffer to create or suffer to exist any Lien on any Property owned by an Equity Subsidiary other than (a) Liens existing as of the date hereof, (b) Liens securing Indebtedness permitted to be incurred by such Equity Subsidiary pursuant to Section 10.08 below, and (c) Permitted Liens.

• Borrower will not take any action to dissolve or terminate Borrower or any other Loan Party, the Carveout Guarantor or an Equity Subsidiary.

• For traffic derived from sites other than 5th Ave that 5th Ave generates, ZACKS will pay to 5th Ave 10% of gross revenues.

• No transfer of property has been or will be made by any Credit Party or Equity Subsidiary in connection with the transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of any Credit Party or Equity Subsidiary.

• No Credit Party or Equity Subsidiary has made an assignment for the benefit of creditors or taken advantage of any insolvency act for the benefit of debtors.

• There is no proposed tax assessment against any Loan Party, the Carveout Guarantor or an Equity Subsidiary or any basis for such assessment which is material and overdue and is not being contested in good faith.

• No petition in bankruptcy has been filed by any Credit Party or Equity Subsidiary or, to the Borrower’s Knowledge, against any Credit Party or Equity Subsidiary.

More Definitions of Equity Subsidiary

Equity Subsidiary. A Wholly Owned Subsidiary of the Borrower formed for the purpose of holding Equity Investments and that does not hold any property other than Equity Investments constituting Eligible Assets (a) whose outstanding equity interests have been pledged to the Collateral Custodian pursuant to the Guarantee and Security Agreement, (b) that has no Indebtedness other than Indebtedness under the Guarantee and Security Agreement, (c) that satisfies the “special purposes entity” covenants and other requirements set forth in Section 4.1 of the Trust Agreement (mutatis mutandis, as if such Equity Subsidiary were the Borrower) and (d) as to which the Borrower has delivered an opinion in form and scope satisfactory to the Administrative Agent to the effect that such Subsidiary will not be substantively consolidated with the Borrower or any of its other Subsidiaries in a bankruptcy or insolvency proceeding.

Equity Subsidiary means each wholly owned Subsidiary of Shurgard Europe that is appointed under a Property and Asset Management Agreement or a Development Agreement to manage and develop a Property located in the jurisdiction of its incorporation. EURIBOR means for an Interest Period of any Loan or overdue amount in euro:

Equity Subsidiary means PSEGR Conemaugh, LLC, a Delaware limited liability company.

Equity Subsidiary means any Subsidiary as to which the Administrative Agent is receiving a pledge of all or some component of the Equity Interests therein pursuant to Section 5.01.

Equity Subsidiary has the meaning assigned to such term in Section 1.01 of the Sale and Servicing Agreement.