Inactive Subsidiaries definition

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

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

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.

• All of the direct and indirect Subsidiaries (other than the Inactive Subsidiaries) that are not set forth in the SEC Reports are set forth on Schedule 3.1(a)(i).

• 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.

More Definitions of Inactive Subsidiaries

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.

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 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 means, collectively, SMTC Manufacturing Corporation of Colorado, a Colorado corporation, Qualtron Inc., a Massachusetts corporation, SMTC Ireland Company, an Irish corporation, SMTC Manufacturing Corporation of Ireland Limited, an Irish corporation, SMTC Teoranta, an Irish corporation, SMTC R&D Teoranta, an Irish corporation, SMTC Mexico, S.A. de C.V., a Mexican corporation, 940862 Ontario Inc., an Ontario corporation, SMTC Manufacturing Corporation of Wisconsin, a Wisconsin corporation, SMTC Manufacturing Corporation of North Carolina, a North Carolina corporation, and SMTC Manufacturing Corporation of Texas, a Texas corporation, and “Inactive Subsidiary” shall mean any one of them individually.

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

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