Massachusetts Securities Corporation definition

Massachusetts Securities Corporation means any Domestic Subsidiary that is classified as a “security corporation” by the Massachusetts Department of Revenue pursuant to Massachusetts General Law c. 63, § 38B, or any successor statute.
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Examples of Massachusetts Securities Corporation in a sentence

  • Notwithstanding the foregoing, no Subsidiary that is a Massachusetts Securities Corporation may sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any Subsidiary that is not a Loan Party.

  • Any Subsidiary that is a Massachusetts Securities Corporation shall not amend or modify its certificate, articles of incorporation or organization, or bylaws or other organizational or governing documents in any material respect.

  • Notwithstanding the foregoing, no Subsidiary that is a Massachusetts Securities Corporation shall (i) create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, except for any Liens permitted under clause (a) of the definition of “Permitted Encumbrances” and Section 6.02(g), or (ii) assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof.

  • No Subsidiary that is a Massachusetts Securities Corporation shall engage in any business activity other than buying, selling, dealing in or holding securities on its own behalf, within the meaning of Massachusetts General Law c.

  • Notwithstanding the foregoing, no Subsidiary that is a Massachusetts Securities Corporation shall make or maintain any Investments, other than Investments expressly permitted under Sections 6.04(b), (r) and (w).

  • Notwithstanding the foregoing, (i) any Subsidiary that is a Massachusetts Securities Corporation may sell, transfer, lease or otherwise dispose of its assets only to the Borrower or another Loan Party, and not to any other Person, and (ii) the Borrower and other Loan Parties may transfer the Equity Interests in or assets of any Massachusetts Securities Corporation only to another Loan Party and not to any Person.

  • Notwithstanding the foregoing, no Subsidiary that is a Massachusetts Securities Corporation shall create, incur, assume or permit to exist any Indebtedness (or any Guarantees of any Indebtedness) other than of the types described under clauses (f) and (j) of this Section 6.01.

  • Massachusetts Securities Corporation 175 ARTICLE 7 GUARANTY Section 7.01.

  • Notwithstanding the foregoing, no Subsidiary that is a Massachusetts Securities Corporation shall create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, except for any Liens permitted under clause (a) of the definition of “Permitted Encumbrances” and clause (g) of this Section 6.02, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof.

  • Notwithstanding the foregoing, no Subsidiary that is a Massachusetts Securities Corporation shall create, incur, assume or permit to exist any Indebtedness except any Indebtedness permitted under clauses (m) and (n) of this Section 6.01.