Examples of First Tier Subsidiaries in a sentence
An additional purpose of the Plan is to build a proprietary interest among the Non-Employee Directors of the Company and its First Tier Subsidiaries and thereby secure for the Company’s stockholders the benefits associated with common stock ownership by those who will oversee the Company’s future growth and success.
The Equity Interests constitute all of the Equity Securities in the First Tier Subsidiaries and are owned of record and beneficially solely by OFS ES, free and clear of all Encumbrances, other than Permitted Inchoate Tax Liens and, as of the date hereof, Permitted Encumbrances.
Mission Group shall give notice to each of the First Tier Subsidiaries immediately after receipt of each invoice described in Section 4 of the Master Agreement, which notice shall state the date and amount of each payment to be made by Mission Group or the First Tier Subsidiary, as the case may be.
Upon receipt of each invoice provided for in Section 5 of the Master Agreement, relating to reconciliation of quarterly estimated tax payments against the Consolidated Returns, Mission Group shall forthwith determine and notify each of the First Tier Subsidiaries of the effect, if any, of such reconciliation on the payments made to or received from such First Tier Subsidiary.
Each of the First Tier Subsidiaries shall provide (or cause to be provided) to Parent on a monthly basis, or upon demand as necessary, all relevant information necessary to calculate federal and state tax liabilities and payments for itself and its Subsidiaries.