Exempt Subsidiary definition
Examples of Exempt Subsidiary in a sentence
Amounts will be restored to the authorized Development Activities amount when a Subsidiary for which such amounts were expended becomes an Exempt Subsidiary.
L-R: Settling tank, packaged honey processed by members and honey extractor delivered by OVOPThe group processes honey at a community processing center that was constructed by the Matheniko Development Forum with support from the United Nations Development Prograame.
Such Subsidiary Guarantor (other than an Exempt Subsidiary Guarantor) is Solvent and, after the execution and delivery of the Operative Documents and the consummation of the transactions contemplated thereby, such Subsidiary Guarantor (other than an Exempt Subsidiary Guarantor) will be Solvent.
For purposes of this section, the consolidated revenues of each Exempt Subsidiary in each fiscal year shall be determined in accordance with generally accepted accounting principles by the Borrower and furnished to the Administrative Agent within 90 days after the end of the fiscal year of the Borrower.
Without limiting the foregoing, Company shall promptly (and, in any event, within 60 days) following the Acquisition cause the Domestic Subsidiaries of Medco (other than any Exempt Subsidiary) to execute and deliver to Administrative Agent a counterpart of the Subsidiary Guaranty.