Examples of Indirect Subsidiary in a sentence
Provided, however, that each Participating Employer, by accepting the Board's designation as a Participating Employer under the Plan and formally adopting the Plan, agrees to assume secondary liability for the payment of any benefit accrued or increased while a Participant is employed and on the payroll of a Participating Employer that is a Direct Subsidiary or Indirect Subsidiary of the Participating Employer at the time such benefit is accrued or increased.
Subsidiary Companies The Company has 11 Direct & Indirect Subsidiary Companies.
No Transferred Benefit Plan covers or has any liability or obligation with respect to any current or former employee of Sellers or any of their Affiliates, for the avoidance of doubt, excluding any Transferred Subsidiary or any Indirect Subsidiary, other than the Employees.
During the two (2)-year period commencing with the Closing Date, Mallinckrodt UK shall not, and shall cause its Affiliates to not, solicit the employment of any employee of any Transferred Subsidiary or any Indirect Subsidiary who is employed by any Transferred Subsidiary or any Indirect Subsidiary as of the Closing Date without the prior written consent of the Buyers.
On the date of creation or acquisition by Borrower of any Domestic Subsidiary, or on the date of creation or acquisition by any Domestic Subsidiary of Borrower of any Indirect Subsidiary that is a Domestic Subsidiary, Borrower shall cause such Domestic Subsidiary to execute and deliver to Administrative Agent a Facility Guaranty.