Immaterial Guarantor means a Guarantor designated as an “Immaterial Guarantor” on Schedule 6.11, as such schedule may be amended from time to time, and that is not required to be a Guarantor pursuant to Section 7.09(b).

Immaterial Guarantor means a Guarantor (other than the Parent or any Borrower) that is not a Material Wholly-Owned Subsidiary.

Immaterial Guarantor. (a) any Subsidiary Guarantor that (x) contributed not in excess of 2.5% of EBITDA for the period of four fiscal quarters most recently ended for which financial statements have been or are required to have been delivered pursuant to Subsection 7.1(a) or 7.1(b) prior to the date of determination, and (y) had consolidated assets representing not in excess of 2.5% of Consolidated Total Assets; and

Examples of Immaterial Guarantor in a sentence

There shall be no bankruptcy or insolvency proceeding with respect to any Credit Party other than an Immaterial Guarantor.
Notwithstanding the foregoing, in no event shall any of the proceedings referred to in this Section 8.1.9 affecting only an Immaterial Guarantor constitute an Event of Default, unless and to the extent that such proceedings affect Immaterial Guarantors representing, directly or through direct or indirect ownership interest in any other Person, 15% or more, in the aggregate, of the Consolidated EBITDA of the Cayman Borrowers and its Subsidiaries for the most recently ended Fiscal Year.
This changeconforms § 330.10 to section 311 of FDICIA and to the rest of § 330.10 itself.Because the amendment merely makes the title consistent with § 330.10, and because the text of § 330.10 was itself published for comment (57 FR 49026 (October 29, 1992), it is unnecessary,under the Administrative ProcedureAct, to publish this proposed change for comment.

More Definitions of Immaterial Guarantor

Immaterial Guarantor means any Guarantor that is an Immaterial Subsidiary.

Immaterial Guarantor means a Guarantor (other than the Parent or any Applicant) that is not a Material Wholly-Owned Subsidiary.

Immaterial Guarantor means a Guarantor that does not satisfy the Threshold Amount.

Immaterial Guarantor means any Guarantor other than a Material Guarantor.

Immaterial Guarantor means, as of any date of determination, any Guarantor which contributed less than 3% of Consolidated EBITDA for the period of four consecutive Fiscal Quarters ending on the last day of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.01(a) or Section 5.01(b).

Immaterial Guarantor means a Guarantor (other than the Issuer) which meets both of the following criteria:

Immaterial Guarantor in respect of a release of such guarantor, means a Subsidiary Guarantor which, together with its Restricted Subsidiaries, has generated 2.5% or less of the Issuer’s Consolidated EBITDA for the most recently ended four fiscal quarters for which internal financial statements of the Issuer are available immediately preceding the date of such release.