Material Operating Subsidiary definition

Material Operating Subsidiary means an operating subsidiary whose net income represents 10% or more of the net income of the Corporation; and
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Material Operating Subsidiary means a Material Subsidiary other than a member of the Group that is a Material Subsidiary solely by virtue of its being a Holding Company of a Material Subsidiary or Obligor.
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Material Operating Subsidiary means a Subsidiary of a Credit Party that has assets constituting at least ten percent (10%) of total assets of the Parent on a Consolidated basis (but excluding any VIE) as of the end of the immediately preceding fiscal quarter for which the Parent has delivered financial statements pursuant to Section 9.1(b).
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Examples of Material Operating Subsidiary in a sentence

  • The Company and each Material Operating Subsidiary, after giving effect to the transactions contemplated hereby and by the other Loan Documents and the Intercompany Revolving Facilities, shall be Solvent and the Initial Lender shall have received a certificate from the chief financial officer of the Company to such effect.

  • Give notice to the Agent (which upon receipt shall give a copy thereof to the Banks) of the occurrence of any Subsidiary becoming a Material Operating Subsidiary concurrently with such occurrence.

  • In addition, each Material Operating Subsidiary that becomes a Material Operating Subsidiary after the date hereof shall, concurrently with becoming a Material Operating Subsidiary, execute and deliver to the Agent a Guaranty, in form and substance satisfactory to the Agent, and upon such execution and delivery, such Material Operating Subsidiary shall become a Guarantor under the Loan Documents.

  • Organize or invest in any new Material Operating Subsidiary or permit any existing Subsidiary to become a Material Operating Subsidiary unless such Subsidiary shall have executed and delivered a Guaranty and a Security Agreement supplement, each in form and substance satisfactory to the Agent, and shall have become a Guarantor and a Collateral Grantor under the Loan Documents.

  • In addition, each Material Operating Subsidiary that becomes a Material Operating Subsidiary after the First Closing Date shall, concurrently with becoming a Material Operating Subsidiary, execute and deliver to the Agent a Guaranty, in form and substance satisfactory to the Agent, and upon such execution and delivery, such Material Operating Subsidiary shall become a Guarantor under the Loan Documents.

  • The Noteholders will not be entitled to refuse such request if no amount is then due and payable under the Subsidiary Guarantee to the Noteholders and the Issuer delivers a certificate to the Noteholders confirming that the Subsidiary seeking to be released is no longer a Material Operating Subsidiary.

  • Each Material Operating Subsidiary and the Company has full corporate power and authority to own their respective assets and businesses and to carry on their respective businesses as now conducted.

  • If an Event of Default specified in Section 7.01(a)(ix) or Section 7.01(a)(x) with respect to the Company (and not solely with respect to a Material Operating Subsidiary) occurs and is continuing, the principal of all the Notes and accrued and unpaid interest shall be immediately due and payable.

  • The Noteholders will not be entitled to refuse such request, if no amount is then due and payable under the Subsidiary Guarantee to the Noteholders and the Issuer delivers a certificate to the Noteholders confirming that the Subsidiary seeking to be released is no longer a Material Operating Subsidiary.

  • Organize or invest in any new Material Operating Subsidiary or permit any existing Subsidiary to become a Material Operating Subsidiary unless such Subsidiary shall have executed and delivered a Guaranty and a Company Security Agreement supplement, each in form and substance satisfactory to the Agent, and shall have become a Guarantor and a Collateral Grantor under the Loan Documents.


More Definitions of Material Operating Subsidiary

Material Operating Subsidiary means each of Gimsa, Gruma Corp. and Molinera.
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Material Operating Subsidiary means each Subsidiary of the Core Borrowers which:
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Material Operating Subsidiary means each Subsidiary of the TXUA Parent (other than the Borrower) which, has not been designated as an Unrestricted Subsidiary and:
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Material Operating Subsidiary means a “Material Operating Subsidiary” (or substantially similar term), as defined in the Company’s Credit Agreement.
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Material Operating Subsidiary has the meaning given to it in the Deed of Common Terms as at the relevant time.
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Material Operating Subsidiary means an operating subsidiary whose net income
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Related to Material Operating Subsidiary

  • Operating Subsidiary means a majority-owned subsidiary of a financial

  • Operating Subsidiaries means, collectively, the Corporation and HST, each a wholly-owned subsidiary of the Trust, and "Operating Subsidiary" means either of the Corporation or HST, as applicable.

  • Material Company means, at any time:

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • Project Subsidiary means any Subsidiary of the Company held for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties and any Subsidiary of the Company whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of the Company other than obligations of the Company related to Project Debt of one or more Project Subsidiaries.

  • Material Group Company means the Issuer or a Subsidiary representing more than 10.00 per cent. of either (i) the total assets of the Group on a consolidated basis (for the avoidance of doubt, excluding any intra-group transactions) or (ii) the EBITDA of the Group on a consolidated basis according to the latest Financial Report.

  • JV Subsidiary means any Wholly-Owned Subsidiary of the Borrower that directly holds Capital Stock of a Joint Venture.

  • Major Subsidiary means a subsidiary of an issuer if

  • Material Restricted Subsidiary any Restricted Subsidiary other than one or more Restricted Subsidiaries designated by the Borrower that in the aggregate do not constitute Material Subsidiaries.

  • Obligated Entity means a person or entity that sells electrical energy to end-use

  • Ultimate Parent Company means a company which owns at least twenty six percent (26%) equity in the Bidding Company or Member of a Consortium, (as the case may be) and in the Technically Evaluated Entity and/or Financially Evaluated Entity (as the case may be) and such Bidding Company or Member of a Consortium, (as the case may be) and the Technically Evaluated Entity and/or Financially Evaluated Entity (as the case may be) shall be under the direct control or indirectly under the common control of such company;

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Operating Companies means EAI, EMI, ELI and ENOI, each being an "Operating Company".

  • Current Subsidiary means any Person in which the Company on the Subscription Date, directly or indirectly, (i) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates all or any part of the business, operations or administration of such Person, and all of the foregoing, collectively, “Current Subsidiaries”.

  • Restricted Entity means any "employee benefit plan" as defined in and subject to ERISA, any "plan" as defined in and subject to Section 4975 of the Code, or any entity any portion or all of the assets of which are deemed pursuant to United States Department of Labor Regulation Section 2510.3-101 or otherwise pursuant to ERISA or the Code to be, for any purpose of ERISA or Section 4975 of the Code, assets of any such "employee benefit plan" or "plan" that invests in such entity.

  • Subsidiary means, with respect to any specified Person:

  • Subsidiaries means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly, any equity or other ownership interest.

  • Subject Company shall have the meaning set forth in Section 6.10(a).

  • 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.

  • Parent Subsidiary means any Subsidiary of Parent.

  • SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

  • Partnership Group Member means any member of the Partnership Group.

  • Consolidated Entity means at any date any Subsidiary, and any other entity the accounts of which would be combined or consolidated with those of the Borrower in its combined or consolidated financial statements if such statements were prepared as of such date.

  • Non-U.S. Subsidiary means any Subsidiary that is not a U.S. Subsidiary.

  • Participating Subsidiaries means the Subsidiaries that have been designated as eligible to participate in the Plan, and such other Subsidiaries that may be designated by the Committee from time to time in its sole discretion.