Examples of Non-Wholly Owned Subsidiary in a sentence
As of the date hereof, there is no Property owned by the Borrower or any of its Subsidiaries that is not owned by a Subsidiary of Borrower that is a Guarantor and whose equity is pledged pursuant to Section 5.09 of this Agreement, in each case, other than any Non-Wholly Owned Subsidiary restricted from doing so by limitations set forth in the terms of such Person’s formation or organizational documents or any joint venture agreement applicable to such Person.
The Borrower will not, and will not permit any of its Subsidiaries to enter into or suffer to exist any agreement (other than this Agreement and the Credit Documents, and solely with respect to the property secured thereby, agreements governing existing Liens permitted pursuant to Section 6.01(b)) prohibiting the creation or assumption of any Lien upon a Property, other than any formation or organizational documents or any joint venture agreement applicable to a Non-Wholly Owned Subsidiary.