Nonrestricted Subsidiary means (i) any of the Subsidiaries listed on Schedule III hereto as a Nonrestricted Subsidiary, (ii) any Subsidiary of any Nonrestricted Subsidiary and (iii) any surviving Person (other than a Borrower or a Restricted Subsidiary) into which any of such Persons referred to in clause (i) or (ii) is merged or consolidated, subject to Section 5.02(c), and (iv) any Subsidiary organized after the date of this Agreement for the purpose of acquiring the stock or other ownership interests or assets of another Person or for start-up ventures or exploration programs or activities and designated as a Nonrestricted Subsidiary by the Borrower as of the time of its organization. By written notice to the Administrative Agent, the Borrower may (x) declare any Nonrestricted Subsidiary to be a Restricted Subsidiary and such former Nonrestricted Subsidiary shall thereafter be deemed to be a Restricted Subsidiary for all purposes of this Agreement or (y) at any time other than when a Default or Event of Default has occurred and is continuing or would exist after giving effect to such declaration, in any fiscal year, declare one or more Restricted Subsidiaries, the interest of the Borrower in all of which has an equity value or loan investment of less than $5,000,000 in the aggregate, to be a Nonrestricted Subsidiary and any such former Restricted Subsidiary shall thereafter be deemed to be a Nonrestricted Subsidiary for all purposes of this Agreement.
Nonrestricted Subsidiary means Motors and Gears Holdings, Inc. and its Subsidiaries, Jordan Telecommunication Products, Inc. and its Subsidiaries, JI Properties, Inc. and its Subsidiaries, and any other Subsidiary of the Company other than a Restricted Subsidiary.
Nonrestricted Subsidiary means any Subsidiary which is not a Restricted Subsidiary.
More Definitions of Nonrestricted Subsidiary
Nonrestricted Subsidiary means (i) any of the Subsidiaries of the Guarantor or the Borrower listed on Schedule III hereto as a Nonrestricted Subsidiary, (ii) any Subsidiary of any Nonrestricted Subsidiary, (iii) any surviving Person (other than the Borrower, the Guarantor or a Restricted Subsidiary) into which any of such Persons referred to in clause (i) or (ii) is merged or consolidated, subject to Section 5.02(c), and (iv) any Subsidiary of the Guarantor or the Borrower organized after the date of this Agreement for the purpose of acquiring the stock or other ownership interests or assets of another Person or for start-up ventures or exploration programs or activities and designated as a Nonrestricted Subsidiary by the Guarantor or the Borrower, as applicable, as of the time of its organization. By written notice to the Administrative Agent, the Guarantor or the Borrower, as applicable, may (x) declare any Nonrestricted Subsidiary to be a Restricted Subsidiary and such former Nonrestricted Subsidiary shall thereafter be deemed to be a Restricted Subsidiary for all purposes of this Agreement or (y) at any time other than when a Default or Event of Default has occurred and is continuing or would exist after giving effect to such declaration, in any fiscal year, declare one or more Restricted Subsidiaries, the direct or indirect interest of the Guarantor and the Borrower in such Restricted Subsidiaries having an equity value or loan investment of less than $5,000,000 in the aggregate, to be a Nonrestricted Subsidiary and any such former Restricted Subsidiary shall thereafter be deemed to be a Nonrestricted Subsidiary for all purposes of this Agreement.