North American Subsidiary definition

North American Subsidiary means any Subsidiary organized under the laws of the United States or Canada or any of their respective states, provinces, territories or possessions or any political subdivision of any thereof.

North American Subsidiary means a Subsidiary of the Company formed under the laws of, or conducting its principal operations within (1) the United States, any state thereof or the District of Columbia or (2) Canada or any province or territory thereof.

North American Subsidiary means any Subsidiary of a Person that is organized under the laws of the United States, the District of Columbia, or Canada.

Examples of North American Subsidiary in a sentence

• As more particularly set forth in Section 4.13, the Notes shall be guaranteed in the future by each new North American Subsidiary that is a Significant Subsidiary.

• Such policies and bonds provide adequate coverage from reputable and financially sound insurers in amounts sufficient to insure the assets and risks of North American and North American Subsidiary in accordance with prudent business practice in the industry of the such entity.

• All insurance policies and other bonds to which North American or any North American Subsidiary is a party are valid and in full force and effect.

• Prior to that, Mr. Robinson was President of Adria Laboratories, Erbamont's North American Subsidiary.

• There are no agreements or waivers extending the statutory period of limitations applicable to any federal income tax return of North American or any North American Subsidiary for any period.

More Definitions of North American Subsidiary

North American Subsidiary means any Subsidiary of Company other than a Foreign Subsidiary or an Off-Balance Sheet Subsidiary.

North American Subsidiary means any Subsidiary of a Loan Party (other than Horizon International Holdings LLC) organized under the laws of the United States or Canada.

North American Subsidiary means any Subsidiary of the Company, as defined in clauses (i) and (ii) only of the definition of Subsidiary, that was formed under the laws of the United States or any state of the United States or the District of Columbia or under the laws of Canada or any province or territory thereof.

North American Subsidiary means any Subsidiary that is not a Foreign Subsidiary.

North American Subsidiary means each Subsidiary domiciled in the United States of America or Canada.

North American Subsidiary means (i) any Domestic Subsidiary; and (ii) any Subsidiary of the Borrower organized under the laws of Canada (or one of its Provinces) substantially all of whose accounts receivable, inventory and equipment are subject to a first priority perfected security interest or other Lien securing Indebtedness supported by a Letter of Credit issued under this Agreement. The existence of an approximately $200,000 mortgage in favor of Royal Bank of Canada shall not be considered to disqualify Ballastronix or any of its Affiliates from status as a North American Subsidiary under this definition.

North American Subsidiary means (i) each Subsidiary of the Borrower which is organized under the laws of the United States or any State thereof, (ii) each Subsidiary of the Borrower which is organized under the laws of Canada or any Province thereof and (iii) each Subsidiary of the Borrower of which 66-2/3% of the annual gross revenues for the current or any subsequent fiscal year of the Borrower or total assets as of the close of any such year (in each case determined on a consolidated basis with that Subsidiary's Subsidiaries) are located or derived from operations within the United States and Canada.