Intermediate Holding Company Subsidiary definition

Intermediate Holding Company Subsidiary means any Subsidiary of the Company that is a holding company that holds equity interests in two (2) or more Portfolio Companies engaged in unrelated lines of business; provided, however, that (w) Spectrum shall not be considered an Intermediate Holding Company Subsidiary, (x) the reinsurance and insurance businesses shall be considered to be a single line of business, (y) any Portfolio Company that operates in more than one (1) Specified Industry shall be an Intermediate Holding Company Subsidiary and (z) any Portfolio Company that operates in only one (1) Specified Industry shall not be an Intermediate Holding Company Subsidiary.
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Intermediate Holding Company Subsidiary means any Subsidiary of the Borrower that:
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Examples of Intermediate Holding Company Subsidiary in a sentence

  • Other than as set forth in Schedule 4.01(b) hereto, no Person other than the Borrower has any rights to acquire any capital stock or participations of any Operating Company Subsidiary or Intermediate Holding Company Subsidiary of the Borrower during the period when any Advances shall be outstanding.

  • Notwithstanding anything to the contrary herein, at any time prior to the closing of a Debt Transaction (whether or not a Debt Exercise Notice shall have been delivered), the Company or the Intermediate Holding Company Subsidiary, as the case may be, may elect (in its sole discretion), upon written notice to the Fortress Purchaser, to terminate such Debt Transaction and, in such event, rescind the applicable Debt Participation Rights Notice without liability to any Person hereunder.