Material Domestic Restricted Subsidiary definition

Material Domestic Restricted Subsidiary means a Domestic Restricted Subsidiary that is a Material Restricted Subsidiary.

Material Domestic Restricted Subsidiary means any Wholly-Owned Restricted Subsidiary of the Company or a Parent Guarantor that was formed under the laws of the United States or any state of the United States or the District of Columbia or that guarantees or otherwise provides direct credit support for any Indebtedness of the Company or any Parent Guarantor, which would constitute a Significant Subsidiary, except that for purposes of this definition all references therein to 10.0% shall be deemed to be references to 5.0%.

Material Domestic Restricted Subsidiary means each Restricted Subsidiary that is a Domestic Subsidiary and owns assets representing 10% or more of the total assets of the Borrower and its Restricted Subsidiaries or whose EBITDAX represents 10% or more of the EBITDAX of the Borrower and its Restricted Subsidiaries. For purposes of this definition, the total assets and EBITDAX of the Borrower and its Restricted Subsidiaries shall be determined as of the end of the Borrower’s most recent fiscal year for which financial statements are available.

Examples of Material Domestic Restricted Subsidiary in a sentence

• Upon the request of the Borrower (and at the Borrower’s expense), the Administrative Agent shall release from its obligations under the Guaranty Agreement each Guarantor that (i) is not a Material Domestic Restricted Subsidiary and (ii) is not required to guarantee the Indebtedness pursuant to Section 8.13.

• Promptly and in any event with ten Business Days after organizing or acquiring any new Material Domestic Restricted Subsidiary, the name, jurisdiction of organization, organizational identification number, and the locations of the principal place of business and chief executive office of such Subsidiary.

• Promptly and in any event within ten Business Days after organizing or acquiring any new Material Domestic Restricted Subsidiary, the name, jurisdiction of organization, organizational identification number, and the locations of the principal place of business and chief executive office of such Subsidiary.

• In the event that the Company, a Parent Guarantor or any of their Restricted Subsidiaries creates or acquires any Material Domestic Restricted Subsidiary after the date hereof, if required by Section 4.16 hereof, the Company or such Parent Guarantor will cause such Material Domestic Restricted Subsidiary to comply with the provisions of Section 4.16 hereof and this Article 11, to the extent applicable.

• In furtherance of the foregoing, Terex will give prompt notice to the Administrative Agent of (A) the acquisition by it or any Subsidiary Guarantor of any Material Owned Real Property, (B) any Domestic Subsidiary which becomes a Material Domestic Restricted Subsidiary (or of the circumstances described in the proviso to the definition of the term “Material Domestic Restricted Subsidiary”) and (C) any Foreign Subsidiary which becomes a Material First Tier Foreign Subsidiary.

More Definitions of Material Domestic Restricted Subsidiary

Material Domestic Restricted Subsidiary means a Domestic Subsidiary that is a Restricted Subsidiary and that either (a) is an obligor (by Guarantee or otherwise) in respect of Indebtedness for borrowed money in an aggregate principal amount in excess of $25,000,000 at any time outstanding or (b) as of the last day of any fiscal quarter, satisfies either of the following tests:

Material Domestic Restricted Subsidiary or “Subsidiary”, without the written consent of each Lender;

Material Domestic Restricted Subsidiary. (a) Sid Tool Co., Inc., MSC Contract Management, Inc. and J&L America, Inc., (b) any other Domestic Restricted Subsidiary designated by the Borrower as a Material Domestic Restricted Subsidiary, and (c) each other Domestic Restricted Subsidiary (other than any Excluded JV Subsidiary) the revenues (excluding intercompany revenues) of which for the Reference Period ended as of the end of the most recently completed fiscal quarter for which financial statements have been delivered pursuant to Section 6.1 exceed $50,000,000; provided that the aggregate revenues (excluding intercompany revenues) of all Domestic Restricted Subsidiaries (other than Excluded JV Subsidiaries) that are not Material Domestic Restricted Subsidiaries for any Reference Period shall not exceed 10% of the aggregate revenues (excluding intercompany revenues) of the Borrower and its Domestic Restricted Subsidiaries (other than Excluded JV Subsidiaries) for such Reference Period (and the Borrower will designate in writing to the Administrative Agent from time to time a Domestic Restricted Subsidiary (or Domestic Restricted Subsidiaries) to be designated as a “Material Domestic Restricted Subsidiary” in order to comply with the foregoing limitation (it being understood and agreed that such designation may be included in, and satisfied by delivery of, a supplement to the Guarantee substantially in the form of Annex A to the Guarantee)).

Material Domestic Restricted Subsidiary means any Restricted Subsidiary that is a Domestic Subsidiary of the Issuer that, as of the last day of the fiscal quarter of the Issuer most recently ended for which financial statements of the Issuer have been or are required to have been delivered pursuant to this Indenture, has assets or revenues (including third-party revenues but not including intercompany revenues) with a value in excess of 2.50% of the Consolidated Total Assets of the Issuer or 2.50% of the consolidated gross revenues of the Issuer; provided that in the event Restricted Subsidiaries that are Domestic Subsidiaries that would otherwise not be Material Domestic Restricted Subsidiaries shall in the aggregate account for a percentage in excess of 5.00% of the Consolidated Total Assets of the Issuer or 5.00% of the consolidated gross revenues of the Issuer, in each case, as of the end of and for the most recently completed fiscal quarter, then one or more of such Domestic Subsidiaries designated by the Issuer (or, if the Issuer shall make no designation, one or more of such Domestic Subsidiaries in descending order based on their respective contributions to the consolidated assets of the Issuer) shall for all purposes of this Indenture be included as Material Domestic Restricted Subsidiaries to the extent required to eliminate such excess.

Material Domestic Restricted Subsidiary means a Domestic Restricted Subsidiary of the Company or any Restricted Subsidiary of the Company having total assets with a book value in excess of $500,000.

Material Domestic Restricted Subsidiary means each Domestic Restricted Subsidiary that (a) as of the most recent fiscal quarter of the Company, for the period of four consecutive fiscal quarters then ended, for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or (b), the most recent financial statements referred to in Section 3.04(a)), (i) contributed greater than ten percent (10%) of EBITDA for such period or (ii) contributed greater than five percent (5%) of Total Assets as of such date and/or (b) is a guarantor of any of the Term Loan Obligations.

Material Domestic Restricted Subsidiary means a Domestic Restricted Subsidiary of the Issuer having total assets with a book value in excess of $500,000.