Foreign Holdco definition

Foreign Holdco means a Domestic Subsidiary substantially all of the assets of which are Equity Interests in (or Equity Interests in and Indebtedness of) one or more CFCs or Foreign Holdcos.

Foreign Holdco means any Subsidiary that does not own any material assets other than Equity Interests and/or Indebtedness of one or more CFCs.

Foreign Holdco means a Subsidiary with no material assets other than Equity Interests (including, for this purpose, any debt or other instrument treated as equity for U.S. federal income tax purposes) in one or more Foreign Subsidiaries or Foreign Holdcos.

Examples of Foreign Holdco in a sentence

• The SA Sub shares issued have a zero base cost so the gain equals the market value of the Foreign Holdco shares received by SA Holdco indirectly in exchange.

• Foreign Holdco transfers all of its Foreign Sub shares to SA Newco for the remaining 30 per cent of the SA Newco shares.

• Upon completion of the transaction, SA Holdco owns 10 per cent of the shares of Foreign Holdco, and Foreign Sub owns 80 per cent of the SA Sub shares.

• Result: SA Sub is involved in an issue of shares indirectly in exchange for the receipt of Foreign Holdco shares by another person.

• Distributing expects that Foreign Holdco will own, directly or indirectly, the majority of Controlled’s foreign operating companies, and that some of those operating companies will be treated (or will elect to be treated) as entities disregarded as separate from Foreign Holdco for U.S. federal income tax purposes.

More Definitions of Foreign Holdco

Foreign Holdco shall have the meaning given such term in the preamble to this Agreement.

Foreign Holdco means any Domestic Subsidiary if it has no material assets other than equity interests or a combination of equity interests and indebtedness of one or more CFCs.

Foreign Holdco means any Subsidiary of the Borrower organized in the United States substantially all the assets of which are Equity Interests or Indebtedness of Foreign Subsidiaries.

Foreign Holdco means Decorative Products Thailand, Inc., OMNOVA Wallcovering (USA) Inc. and any other Subsidiary which has no material assets other than the stock of Subsidiaries that are CFCs (which shall be indicated as a “Foreign Holdco” on the Joinder Agreement, perfection certificate or a perfection certificate supplement, when required to be delivered), in all cases provided that and so long as Decorative Products Thailand, Inc., OMNOVA Wallcovering (USA) Inc. or such other Subsidiary shall not engage in any business or activity other than (a) the ownership of CFCs, (b) maintaining its corporate existence, (c) participating in tax, accounting and other administrative activities as the parent of a CFC, (d) the execution and delivery of the Loan Documents to which it is a party and the performance of its obligations thereunder, (e) the execution and delivery of a guaranty of the ABL Facility (provided that if the guaranty of such Foreign Holdco of the Obligations is limited then the guaranty of the ABL Facility will be limited in substantially the same manner) and (f) activities incidental to the businesses or activities described in clauses (a) through (e) above.

Foreign Holdco means Waltonville Limited, a Gibraltar corporation.

Foreign Holdco means a direct wholly owned Subsidiary of Holdings which shall hold all of Holdings’ interests in all of its other Foreign Subsidiaries.

Foreign Holdco means any Domestic Subsidiary that (i) has assets substantially all of which consist of stock of a controlled foreign corporation (as defined in Section 957 of the Code), (ii) does not conduct any business or operations (other than (a) ownership and acquisition of such corporations, (b) performance of obligations under, and in connection with, the Loan Documents, (c) actions required to maintain its existence and (d) activities incidental to its maintenance and continuance of the foregoing activities) and (iii) does not have any assets and liabilities (other than ownership of such corporations and bank accounts and immaterial liabilities incidental to such ownership and its existence).