Material Obligor definition

Material Obligor. (a) the Borrower and (b) each Restricted Subsidiary of the Borrower now existing or hereafter acquired or formed by the Borrower which, as at the end of the most recent fiscal year of the Borrower, Restricted Subsidiary (i) accounted for more than 3% of the consolidated revenues of the Borrower and its Subsidiaries or (ii) owned more than 3% of the consolidated assets of the Borrower and its Subsidiaries.

Material Obligor means each Obligor that is not an Immaterial Subsidiary.

Material Obligor means an Obligor that is either the Borrower, the Parent or a Material Subsidiary.

Examples of Material Obligor in a sentence

• No Material Obligor is an "investment company" within the meaning of the Investment Company Act of 1940, as amended, or a "holding company", or a "subsidiary company" of a "holding company", or an "affiliate" of a "holding company" or of a "subsidiary company" of a "holding company", within the meaning of the Public Utility Holding Company Act of 1935, as amended.

• Each Material Obligor other than PESCO shall, and (except where failure to do so would not, individually or in the aggregate, be reasonably likely to cause a Material Adverse Effect) PESCO and each of its consolidated Subsidiaries shall, promptly pay all Taxes due, except as set forth on SCHEDULE 5.7 and except Taxes for which the criteria for Permitted Liens have been satisfied.

• Neither any Material Obligor nor (except where the same would not, individually or in the aggregate, be reasonably likely to cause a Material Adverse Effect) any other Company is, nor will the execution, delivery, and the performance of and compliance with the terms of the Loan Papers cause any of them to be, in violation of their respective bylaws or charter.

• The Seller shall provide the Purchaser with prompt written notice of the occurrence of any Material Obligor Default.

• After giving effect to the transactions contemplated hereunder, each Material Obligor will be Solvent.

More Definitions of Material Obligor

Material Obligor means, at any time of determination, (x) any Borrower, or (y) any Subsidiary of any Borrower owning 5% or more of the total assets of the Parent and its Subsidiaries on a consolidated basis or contributing 5% or more of the EBITDA of the Parent and its Subsidiaries on a consolidated basis.

Material Obligor means, at any time, an Obligor the Receivables of which are greater than 4.0% of the aggregate Outstanding Balance of all Receivables at such time.

Material Obligor means the Borrower and any other Obligor the operations of which contribute 5% or greater to the consolidated revenues of the Borrower.

Material Obligor means any Obligor or subsidiary thereof having assets, individually or on a consolidated basis with such Obligor and subsidiaries, with a book or market value in excess of $1,000,000 in the aggregate.

Material Obligor means (i) each Parent and each Borrower, (ii) any Company that directly owns any Capital Securities of any other Company where such other Company owns CATV systems with at least 20,000 subscribers (a "Material Operating Company") and (iii) each Material Operating Company .

Material Obligor means (i) each Loan Party, (ii) Xxxx, during any Support Period, and (iii) any charterer under a Material Charter.

Material Obligor means an Obligor which represented at least five (5%) percent of the EBITDA or consolidated total assets of Borrower and its Subsidiaries for the most recently completed fiscal year.