Non-Restricted Subsidiary definition

Non-Restricted Subsidiary means any Subsidiary that the Company’s Board of Directors has in good faith declared pursuant to a written resolution not to be of material importance, either singly or together with all other Non-Restricted Subsidiaries, to the business of the Company and its consolidated Subsidiaries taken as a whole.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Non-Restricted Subsidiary means any Subsidiary of the Company other than a Restricted Subsidiary.

Non-Restricted Subsidiary means (A) a Subsidiary that (a) at the time of its designation by the Board of Directors as a Non-Restricted Subsidiary has not acquired any assets (other than as specifically permitted by clause (e) of "Permitted Investments" or Section 4.09 hereof), at any previous time, directly or indirectly from the Company or any of its Restricted Subsidiaries, (b) has no Indebtedness other than Non-Recourse Debt and (c) that at the time of such designation, after giving pro forma effect to such designation, the ratio of Indebtedness to Annualized Pro Forma EBITDA of the Company is equal to or less than the ratio of Indebtedness to Annualized Pro Forma EBITDA of the Company immediately preceding such designation, provided, however, that if the ratio of Indebtedness to Annualized Pro Forma EBITDA of the Company immediately preceding such designation is 6:1 or less, then the ratio of Indebtedness to Annualized Pro Forma EBITDA of the Company may be 0.5 greater than such ratio immediately preceding such designation; (B) any Subsidiary which (a) has been acquired or capitalized out of or by Equity Interests (other than Disqualified Stock) of the Company or Capital Stock Sale Proceeds therefrom, (b) has no Indebtedness other than Non-Recourse Debt and (c) is designated as a Non-Restricted Subsidiary by the Board of Directors or is merged, amalgamated or consolidated with or into, or its assets or capital stock is to be transferred to, a Non-Restricted Subsidiary; or (C) any Subsidiary of a Non-Restricted Subsidiary.

Examples of Non-Restricted Subsidiary in a sentence

The Issuer will not, nor will it permit any Restricted Subsidiary to, make any investment in, or transfer any assets to, a Non-Restricted Subsidiary if immediately thereafter the Issuer would be in breach of or in default in the performance of any covenant of the Issuer contained in these Terms and Conditions.
The Company will not, nor will it permit any Restricted Subsidiary to, make any investment in, or transfer any assets to, a Non-Restricted Subsidiary if immediately thereafter the Company would be in breach of or in default in the performance of any covenant or warranty of the Company contained in this Indenture.
Except as hereby expressly amended, the Indenture is in all respects ratified and confirmed and all the terms, provisions and conditions thereof shall be and remain in full force and effect (including any Subsidiary which shall have been designated by the Board of Directors as a Non-Restricted Subsidiary as of the date hereof).
The Company will promptly redesignate any Non-Restricted Subsidiary which ceases to meet the conditions specified above as a Restricted Subsidiary.
The Company will not permit any Restricted Subsidiary to be designated as or otherwise to become a Non-Restricted Subsidiary unless immediately after such Restricted Subsidiary becomes a Non-Restricted Subsidiary, it will not own, directly or indirectly, any capital stock or indebtedness of any Restricted Subsidiary.

More Definitions of Non-Restricted Subsidiary

Non-Restricted Subsidiary means (i) any Subsidiary which shall be designated by the Board of Directors as a Non-Restricted Subsidiary, and (ii) any other Subsidiary of which the majority of the Voting Stock is owned directly or indirectly by one or more Non-Restricted Subsidiaries, if such other Subsidiary is a corporation, or in which a Non-Restricted Subsidiary is a general partner, if such other Subsidiary is a limited partnership.

Non-Restricted Subsidiary means any Subsidiary other than the ------------------------- Restricted Subsidiaries.

Non-Restricted Subsidiary means the Delphi Subsidiary.

Non-Restricted Subsidiary means any Subsidiary of the Company, other than a Restricted Subsidiary.

Non-Restricted Subsidiary shall have the meaning set forth in the definition of “Subsidiary”.

Non-Restricted Subsidiary means Motors and Gears Holdings, Inc. and its Subsidiaries, Jordan Telecommunications Products, Inc. and its Subsidiaries, JI Properties, Inc. and its Subsidiaries, and any other Subsidiary of the Company other than a Restricted Subsidiary.

Non-Restricted Subsidiary means New World EnbcDeb Corp. and each Inactive Subsidiary.