INDEPENDENT SUBSIDIARY definition

INDEPENDENT SUBSIDIARY means any Subsidiary of the Company which (i) maintains separate books and records from the Company and observes all corporate formalities, (ii) pays all of its liabilities out of its own funds, (iii) in all dealings with the public identifies itself under its own name and as a separate and distinct entity, (iv) does not commingle its assets with those of any other Person, and (v) includes at least one independent member on its board of directors.
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INDEPENDENT SUBSIDIARY means a Person that is directly or indirectly controlled by the Grantee that files its own Federal tax returns or whose items of income or deduction, if any, are reflected in the Federal tax returns of a Person other than the Grantee. For purposes of this definition, “control” of a Person shall mean having the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person, whether by ownership of voting equity, by contract, or otherwise. Involuntary Termination or Furlough means terminating employment or requiring a temporary suspension or unpaid leave for any reason, including a shut-down or slow-down of business; provided, however, that an Involuntary Termination or Furlough does not include (i) the termination of seasonal Employees at the conclusion of the season or (ii) a Permitted Termination or Furlough. Other COVID-19 Federal Financial Assistance Received means the amount of other Federal grants, loans, and direct assistance funded in response to COVID-19, or the amount claimed under Federal tax credits established in response to COVID-19, up to the date of the Grantee’s application for a CERTS grant, including but not limited to the following:  Paycheck Protection Program (PPP);  Economic Injury Disaster Loan (EIDL) program;  Employee Retention Credit due to COVID-19;  Funding appropriated to the Federal Transit Administration (FTA), including funding from a supplemental COVID-19 appropriation for the Section 5311(f) Intercity Bus Program, the Section 5307 Urbanized Area Formula Grant, or another FTA program;  Assistance as a subrecipient grantee from funding appropriated to the U.S. Department of Education in response to COVID-19, including from a supplemental COVID-19 appropriation for the Education Stabilization Fund, which includes but is not limited to the Elementary and Secondary School Relief Fund; and  In the case of a sole proprietor, Pandemic Emergency Unemployment Compensation, Pandemic Unemployment Assistance, Federal Pandemic Unemployment Compensation, or Mixed Earners Unemployment Compensation.
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INDEPENDENT SUBSIDIARY means any Subsidiary of the Issuer which (i) maintains separate books and records from the Issuer and observes all corporate formalities, (ii) pays all of its liabilities out of its own funds, (iii) in all dealings with the public identifies itself under its own name and as a separate and distinct entity, (iv) does not commingle its assets with those of any other Person, and (v) includes at least one independent member on its board of directors.
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Examples of INDEPENDENT SUBSIDIARY in a sentence

  • Central Research Laboratories A-C Compressor Corporation NAME OF COMPANY/ SUBSIDIARY/DIVISION AND INDEPENDENT SUBSIDIARY EMPLOYEE GROUP COVERED (Union-Non Union) Hill Refrigeration, Inc.

  • Central Research Laboratories A-C Compressor Corporation 85 Exhibit 99 Page 83 of 102 NAME OF COMPANY/ SUBSIDIARY/DIVISION AND INDEPENDENT SUBSIDIARY EMPLOYEE GROUP COVERED ------------------------------- --------------------------------------- (Union-Non Union) Hill Refrigeration, Inc.

  • DELEGATION: INDEPENDENT SUBSIDIARY MODEL Delegation is the form decentralization takes when parastatals and other semi-autonomous government agencies are assigned responsibility for implementing or maintaining sector investments.


More Definitions of INDEPENDENT SUBSIDIARY

INDEPENDENT SUBSIDIARY means each Subsidiary of the U.S. Borrower wherein no Equity Interests are held, directly or indirectly (except as a result of ownership interests in the U.S. Borrower) by any Person (other than another Subsidiary of the U.S. Borrower) which is an Affiliate of the U.S. Borrower.
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INDEPENDENT SUBSIDIARY means:
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INDEPENDENT SUBSIDIARY means any Subsidiary of the Company which (i)
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Related to INDEPENDENT SUBSIDIARY

  • Parent Subsidiary means any Subsidiary of Parent.

  • Current Subsidiary means any Person in which the Company on the Subscription Date, directly or indirectly, (i) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates all or any part of the business, operations or administration of such Person, and all of the foregoing, collectively, “Current Subsidiaries”.

  • SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions and transactions related or incidental thereto.

  • JV Subsidiary any Subsidiary of a Group Member which is not a Wholly Owned Subsidiary and as to which the business and management thereof is jointly controlled by the holders of the Capital Stock therein pursuant to customary joint venture arrangements.

  • Independent Party means, with respect to a BDC Downstream Fund, (i) if the BDC Downstream Fund has a board of directors (or the equivalent), the board or (ii) if the BDC Downstream Fund does not have a board of directors (or the equivalent), a transaction committee or advisory committee of the BDC Downstream Fund.

  • Relevant Subsidiary means any fully consolidated subsidiary of HeidelbergCement AG and for purposes only of this § 2 does not include any subsidiary which has one or more classes of equity securities (other than, or in addition to any convertible bonds or similar equity linked securities) which are listed or traded on a regulated stock exchange.

  • Insignificant Subsidiary means, on any date, any Subsidiary of Caterpillar or CFSC whose aggregate asset value, as reasonably calculated by Caterpillar in accordance with generally accepted accounting principles, is at less than or equal to $50,000,000 on such date.

  • Project Subsidiary means any Subsidiary of the Company held for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties and any Subsidiary of the Company whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of the Company other than obligations of the Company related to Project Debt of one or more Project Subsidiaries.

  • Controlled Subsidiary means any Subsidiary of the Company, 50% or more of the outstanding equity interests of which are owned by the Company and its direct or indirect Subsidiaries and of which the Company possesses, directly or indirectly, the power to direct or cause the direction of the management or policies, whether through the ownership of voting equity interests, by agreement or otherwise.

  • Subsidiary means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code.

  • Restricted Entity means any "employee benefit plan" as defined in and subject to ERISA, any "plan" as defined in and subject to Section 4975 of the Code, or any entity any portion or all of the assets of which are deemed pursuant to United States Department of Labor Regulation Section 2510.3-101 or otherwise pursuant to ERISA or the Code to be, for any purpose of ERISA or Section 4975 of the Code, assets of any such "employee benefit plan" or "plan" that invests in such entity.

  • Ultimate Parent Company means a company which owns at least twenty six percent (26%) equity in the Bidding Company or Member of a Consortium, (as the case may be) and in the Technically Evaluated Entity and/or Financially Evaluated Entity (as the case may be) and such Bidding Company or Member of a Consortium, (as the case may be) and the Technically Evaluated Entity and/or Financially Evaluated Entity (as the case may be) shall be under the direct control or indirectly under the common control of such company;

  • Material Subsidiary means any Subsidiary that is not an Immaterial Subsidiary.

  • Approved Entity means a body corporate that is incorporated or established under the laws of an OECD member state and which, on the occurrence of the Relevant Event, has in issue Relevant Shares.

  • subsidiary entity means a person that is controlled directly or indirectly by another person and includes a subsidiary of that subsidiary;

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Material Domestic Subsidiary means any Domestic Subsidiary that is a Material Subsidiary.

  • IDI Subsidiary means any Issuer Subsidiary that is an insured depository institution.

  • Significant Restricted Subsidiary means any Restricted Subsidiary, or group of Restricted Subsidiaries, that would, taken together, be a “significant subsidiary” as defined in Article 1, Rule 1-02 (w)(1) or (2) of Regulation S-X promulgated under the Securities Act, as such regulation is in effect on the Issue Date.

  • Operating Subsidiary means a majority-owned subsidiary of a financial

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • Material Restricted Subsidiary any Restricted Subsidiary other than one or more Restricted Subsidiaries designated by the Borrower that in the aggregate do not constitute Material Subsidiaries.

  • Excluded Entity means a corporation or other entity of which the holders of voting capital stock of the Company outstanding immediately prior to such transaction are the direct or indirect holders of voting securities representing at least a majority of the votes entitled to be cast by all of such corporation’s or other entity’s voting securities outstanding immediately after such transaction.

  • Permitted Entity means with respect to a Qualified Stockholder (a) a Permitted Trust (as defined below) solely for the benefit of (i) such Qualified Stockholder, (ii) one or more Family Members of such Qualified Stockholder and/or (iii) any other Permitted Entity of such Qualified Stockholder, or (b) any general partnership, limited partnership, limited liability company, corporation or other entity exclusively owned by (i) such Qualified Stockholder, (ii) one or more Family Members of such Qualified Stockholder and/or (iii) any other Permitted Entity of such Qualified Stockholder.

  • ORE Subsidiary means any Subsidiary of the Assuming Bank that engages solely in holding, servicing, managing or liquidating interests of a type described in clause (A) of the definition of “Other Real Estate,” which interests have arisen from the collection or settlement of a Shared-Loss Loan.

  • Eligible Subsidiary means each Subsidiary of the Parent set forth on Exhibit A hereto, as the same may be updated from time to time with Laurus’ written consent.