Inactive Subsidiaries definition

Inactive Subsidiaries means those Subsidiaries of the Borrower listed on Schedule 1.01.

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Inactive Subsidiaries has the meaning assigned to such term in Section 3.02(f) of this Agreement.

Inactive Subsidiaries means any Restricted Subsidiary of Holdings that, as of the end of the most recently ended Test Period, does not have (a) revenues for the Test Period in excess of $100,000 or (b) assets for the Test Period in excess of $250,000.

Examples of Inactive Subsidiaries in a sentence

• The Inactive Subsidiaries hold no material assets or liabilities and conduct no business operations.

• The Inactive Subsidiaries do not (a) have assets with an aggregate book value in excess of $1,000,000, (b) have revenue in excess of $1,000,000 in the aggregate and (c) conduct any business activities.

• Except as set forth on Schedule 5.2, each of the entities listed on Schedule 5.2 under the heading "Inactive Subsidiaries" (i) has no assets, (ii) has no obligations or liabilities, absolute, accrued or contingent, (iii) has not conducted, since the Statement Date (as defined in Section 5.5), any business except for its organization as a corporation and (iv) will not conduct any business except for its organization as a corporation hereafter.

• Notwithstanding anything in this Article VII or elsewhere in this Agreement to the contrary, in no event shall the Borrower permit (a) any Inactive Subsidiary to conduct any business and (b) the Inactive Subsidiaries to own assets in excess of $100,000 in aggregate value.

• As of the Original Closing Date, there are no outstanding commitments or other obligations of the Company or any wholly-owned Subsidiary (other than Inactive Subsidiaries) to issue, and no options, warrants or other rights of any Person to acquire, any shares of any class of capital stock or other Equity Interests of the Company or any Subsidiary (other than Inactive Subsidiaries), except as disclosed on Schedule 3.01 hereto.

More Definitions of Inactive Subsidiaries

Inactive Subsidiaries means collectively, each of the Subsidiaries of the Borrower that have a book value of less than $3 million as of the date hereof and that are not engaged in active business as of the date hereof and that are identified as an “Inactive Subsidiary” on Schedule 1.01(a) hereto; provided, however, if after the date hereof, any such Subsidiary has a book value of $3 million or more, or engages in active business, such Subsidiary shall no longer be deemed an “Inactive Subsidiary.”

Inactive Subsidiaries means each of the Subsidiaries of the Borrower designated by the Borrower as an inactive subsidiary on Schedule 5.13 attached hereto as of the Effective Time and from time to time after the Effective Time.

Inactive Subsidiaries means WNC Receivables Management Corp., WNC Receivables, LLC, Wabash Financing LLC, FTSI Distribution Company, LP, National Trailer Funding, L.L.C., Wabash National Manufacturing, L.P., Wabash National Services, L.P., Cloud Oak Flooring Company, Inc., Continental Transit Corporation and Garsite/Progress LLC.

Inactive Subsidiaries means the Subsidiaries of Holdings identified on Schedule 1.1(c).

Inactive Subsidiaries the Subsidiaries listed on Part A of Schedule 5.22.

Inactive Subsidiaries means Cast Alloys, Inc., ▇▇▇▇▇▇▇ Corporation, Peerless Corporation and ▇▇▇▇▇▇ Corporation, Ashland Manufacturing Facility.

Inactive Subsidiaries means the following Subsidiaries: ECG Properties Inc., Envoy Securities Corp., and Orbis Pharma Inc.