LC Subsidiary definition

LC Subsidiary means, as of the date hereof, the Subsidiaries of the Company listed on Schedule III hereto and, after the date hereof, any other Subsidiary of the Company that may from time to time become a party hereto and in connection therewith such other Subsidiary shall execute such documents as are reasonably requested by the LC Issuer to evidence its agreement to be bound hereunder as an LC Subsidiary, and for whose account the LC Issuer may from time to time Issue Letters of Credit.
Sample 1Sample 2Sample 3
LC Subsidiary means, as of the date hereof, the Subsidiaries of the Borrower listed on Schedule V hereto and, after the date hereof, any other Subsidiary of the Borrower that may from time to time become a party hereto (with respect to Letters of Credit only) and for whose account the Issuing Bank may from time to time Issue Letters of Credit.
Sample 1Sample 2Sample 3

Examples of LC Subsidiary in a sentence

  • Other considerations, such as the performance of LCs on budget execution, magnitude of fiscal transfers by MoFED, and revenue collection, will be taken into account in preparing the draft annual LC Subsidiary Agreement.

  • Their relationship with MoFED and MLGRD will be governed by the LC Subsidiary Agreements and operational manual (and annual work plans), which will be modified during Phase II to focus more on a series of common targets.

  • This is a reasonable request and the taskteam recommends accepting this.(iv) In FY10 and FY12, (a) variance between available resources and executed LC budgets should not be more than 10 percent; and (b) at least nine LCs in FY10 and fifteen in FY11 should meet at least 75 percent of their LC-specific service output targets (as per LC Subsidiary Agreements).Over 100 percent execution for part (a) in FY10 due to carryover of funds from previous fiscal year.

  • The annual LC Subsidiary Agreement will be prepared using a form (included in the operational manual), that will include a set of performance targets on budget execution and service delivery output goals.18.

  • In the eye of a physicist, one muscle fibre is a long cylindrical material with complex internal structure.

  • Each LC will draft an annual LC Subsidiary Agreement based on its annual work plan and budget, and specific targets in the areas of primary education, primary and secondary health, sanitation, rural water, solid waste management, and social assistance services.

  • Their relationship with MoFED and MLGRD will be governed by the LC Subsidiary Agreements and the operational manual (and annual work plans) which has been modified for Phase II to focus on a series of common targets and outcomes.

  • The Company (and, if applicable, such Designated L/C Subsidiary) shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid.

  • Unless otherwise directed by the L/C Issuer, the Company (or such Designated L/C Subsidiary) shall not be required to make a specific request to the L/C Issuer for any such extension.

  • The annual LC Subsidiary Agreement will be prepared on the basis of a form, included in the Operational Manual, which will include a set of performance targets on budget execution and service delivery output goals.


More Definitions of LC Subsidiary

LC Subsidiary means, at any time, without duplication, each of (a) the Borrowers, (b) the Subsidiaries set forth on Schedule 1.01 and (c) each other Wholly Owned Subsidiary that has been designated as an LC Subsidiary pursuant to Section 2.05(j), other than any Subsidiary that has ceased to be an LC Subsidiary as provided in Section 2.05(j).
Sample 1
LC Subsidiary means, at any time, each Wholly Owned Subsidiary that has been designated as an LC Subsidiary by the Borrower pursuant to Section 2.05(k) and that has not ceased to be an LC Subsidiary as provided in such Section.
Sample 1
LC Subsidiary means any Subsidiary of Company or any of its Subsidiaries which is a limited liability company, including without limitation Sugarhouse Land Co., L.C. and Treasure Valley Land Company, L.C.
Sample 1Sample 2
LC Subsidiary means (i) any Subsidiary listed on Schedule 1.1C or (ii) any Subsidiary designated as an L/C Subsidiary by Borrower by written notice to the Administrative Agent and the L/C Issuer at least five (5) Business Days in advance of the effectiveness thereof; provided that such Subsidiary has delivered the documents specified in Section 3.1(b) and (i) to the Administrative Agent and L/C Issuer prior to such Subsidiary being designated an “L/C Subsidiary.”
Sample 1

Related to LC Subsidiary

  • 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.

  • U.S. Subsidiary means any Subsidiary that is organized under the laws of the United States of America, any State thereof or the District of Columbia.

  • Domestic Subsidiary Borrower any Subsidiary Borrower which is a Domestic Subsidiary.

  • Canadian Subsidiary means any Subsidiary that is organized under the laws of Canada or any province or territory thereof.

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

  • Non-U.S. Subsidiary means a Subsidiary of the Borrower that is not a U.S. Subsidiary.

  • Wholly Owned Subsidiary Guarantor any Subsidiary Guarantor that is a Wholly Owned Subsidiary of the Borrower.

  • Pledged Subsidiary means each Subsidiary in respect of which the Administrative Agent has been granted a security interest in or a pledge of (a) any of the Capital Securities of such Subsidiary or (b) any intercompany notes of such Subsidiary owing to the Borrower or another Subsidiary.

  • Domestic Subsidiary means any Subsidiary that is organized under the Laws of the United States, any state thereof or the District of Columbia.

  • Bank Subsidiary means the subsidiary or subsidiaries or the Bank which may from time to time be specified by the Bank to the Customer;

  • Subsidiary Loan Party means any Subsidiary that is not a Foreign Subsidiary or a Receivables Subsidiary.

  • Borrowing Subsidiary means, at any time, any Subsidiary of the Company designated as a Borrowing Subsidiary by the Company pursuant to Section 2.19 that has not ceased to be a Borrowing Subsidiary pursuant to such Section or Article 7.

  • 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.

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

  • Excluded Subsidiary means (i) each Subsidiary, in each case, for so long as any such Subsidiary does not (on (x) a consolidated basis with its Restricted Subsidiaries, if determined on the Closing Date by reference to the Historical Financial Statements or (y) a consolidated basis with its Restricted Subsidiaries, if determined after the Closing Date by reference to the financial statements delivered to the Administrative Agent pursuant to Section 9.1(a) and (b)) constitute a Material Subsidiary, (ii) each Subsidiary that is not a Wholly-Owned Subsidiary on any date such Subsidiary would otherwise be required to become a Guarantor pursuant to the requirements of Section 9.11 (for so long as such Subsidiary remains a non-Wholly-Owned Restricted Subsidiary), (iii) any CFC Holding Company, (iv) any direct or indirect Subsidiary of a CFC or a CFC Holding Company, (v) any CFC, (vi) each Subsidiary that is prohibited by any applicable Contractual Requirement or Requirements of Law (to the extent existing on the Closing Date or, if later, the date it becomes a Restricted Subsidiary and in each case, not entered into in contemplation thereof) from guaranteeing or granting Liens to secure the Obligations or would require third-party or governmental (including regulatory) consent, approval, license or authorization to guarantee or grant such Liens to secure the Obligations (unless such consent, approval, license or authorization has been received), (vii) each Subsidiary with respect to which, as reasonably determined by the Borrower, the consequence of providing a Guarantee of the Obligations would adversely affect the ability of the Borrower and its respective Subsidiaries to satisfy applicable Requirements of Law, (viii) each Subsidiary with respect to which, as reasonably determined by the Borrower in consultation with the Administrative Agent, providing such a Guarantee would result in material adverse tax consequences, (ix) any other Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, as agreed in writing, the cost or other consequences of providing a Guarantee of the Obligations shall be excessive in view of the benefits to be obtained by the Lenders therefrom, (x) each Unrestricted Subsidiary, (xi) any Receivables Subsidiary, (xii) each other Subsidiary acquired pursuant to a Permitted Acquisition or other Investment permitted hereunder and financed with assumed secured Indebtedness permitted hereunder, and each Restricted Subsidiary acquired in such Permitted Acquisition or other Investment permitted hereunder that guarantees such Indebtedness, in each case to the extent that, and for so long as, the documentation relating to such Indebtedness to which such Subsidiary is a party prohibits such Subsidiary from guaranteeing the Obligations and such prohibition was not created in contemplation of such Permitted Acquisition or other Investment permitted hereunder, (xiii) each Subsidiary that is a registered broker dealer and (xiv) each SPV, not-for-profit Subsidiary and captive insurance company.

  • Issuer Subsidiary means any subsidiary of the Issuer.

  • 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.

  • Guarantor Subsidiary means each Guarantor other than Holdings.

  • UK Subsidiary means a Subsidiary organized under the laws of England and Wales.

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

  • 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.

  • Subsidiary Borrower mean each Subsidiary of the Company that shall become a Subsidiary Borrower pursuant to Section 2.19, so long as such Subsidiary shall remain a Subsidiary Borrower hereunder. As of the date hereof, there are no Subsidiary Borrowers party hereto.

  • Regulated Subsidiary means any Subsidiary of the Company so long as such Subsidiary is (a) a Broker-Dealer Subsidiary or (b) otherwise subject to regulation by any Governmental Authority and for which the incurrence of Indebtedness (including Guarantees) or the granting of Liens with respect to its assets would be prohibited or restricted or would result in a negative impact on any minimum capital or similar requirement applicable to it, in any case, as set forth in any rule or regulation of such Governmental Authority.

  • Account Party has the meaning specified therefor in Section 2.11(h) of this Agreement.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

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