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.

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

Material Obligor means each Obligor that is not an Immaterial 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.

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

• 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.

• Except as disclosed on SCHEDULE 5.11 and except for Permitted Liens, there is no Lien on any asset of any Material Obligor or (except where the same would not, individually or in the aggregate, reasonably be expected to cause a Material Adverse Effect) any other Company.

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, at any time of determination, (i) any Borrower, (ii) Holdco, (iii) Triarc Beverage or (iv) any Material Subsidiary.

Material Obligor means any Obligor which owns, directly or indirectly, in excess of one and one half percent (1.50%) of the Equity Interests of Borrower.

Material Obligor means each Obligor which has assets with a book value of Five Hundred Thousand Dollars ($500,000) or more as of the date in question or which had revenues of Five Hundred Thousand Dollars ($500,000) or more for the calendar year preceding the date in question; provided that an intermediate holding company shall not be deemed to be a Material Obligor unless it has assets other than stock of Subsidiaries or revenues independent of its Subsidiaries which meet the foregoing criteria. Maximum Legal Rate shall mean the maximum lawful interest rate which may be contracted for, charged, taken, received or reserved under this Financing Agreement by the Agent and/or the Lenders in accordance with applicable state or federal law (whichever provides for the highest permitted rate), taking into account all items contracted for, charged or received in connection with the Obligations evidenced hereby which are treated as interest under the applicable state or federal law, as such rate may change from time to time. To the extent that any of the optional interest rate ceilings provided in Chapter 303 of the Texas Finance Code, as amended from time to time (the “Texas Finance Code”), apply and may be available for application to any loan(s) or extension(s) of credit evidenced by this Financing Agreement and/or any promissory notes delivered in connection with this Financing Agreement for the purpose of determining the maximum allowable interest under the Loan Documents pursuant to the Texas Finance Code, the applicable interest rate ceiling shall be the “weekly ceiling” (as such term is defined in Section 303.003 of the Texas Finance Code) from time to time in effect; provided, however, that at any time the “weekly ceiling” shall be less that 18%, or more than 24%, per annum, the provisions of Section 303.009(a), or Section 303.009(b), respectively, of the Texas Finance Code shall control for purposes of such determination. MPM shall mean Hengyang ▇▇▇▇▇ MPM Steel Tube Co. Ltd., a subsidiary of VTW. Multiemployer Plan shall mean any plan which is a “multiemployer plan” (as such term is defined in Section 4001(a)(3) of ERISA) to which each Company or any ERISA Affiliate contributes or has any obligation or liability to make contributions, including any withdrawal liability, contingent or otherwise. Obligations shall mean all loans, advances and extensions of credit made or to be made by the Agent and/or the Lenders to the Companies, or any one of them, or to others for any of...

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.