Examples of Passive Holding Company in a sentence
Holdco and each Holdco Subsidiary (other than the Company and any of its Subsidiaries) shall not engage in any activity or suffer to have any condition outstanding that would violate the Passive Holding Company Condition.
Holdco shall not, nor shall it permit any of its Subsidiaries (other than the Borrower and any of its Subsidiaries) to, engage in any activity or suffer to have any condition outstanding that would violate the Passive Holding Company Condition.
The Borrower shall not permit GM Holdco or an Additional Holdco, if any, to (a) engage in any business or activity other than the ownership of Equity Interests in GMAC (or Equity Interests in another Passive Holding Company (as defined below)) and activities reasonably incidental thereto or (b) hold any assets or have any liabilities, other than those reasonably incidental to its existence and its ownership of Equity Interests in GMAC (or Equity Interests of another Passive Holding Company).
NEGATIVE COVENANTS 6.1 Permitted Debt 76 6.2 Permitted Liens 80 6.3 Restricted Payments 83 6.4 Investments 83 6.5 Disposition of Assets 83 6.6 Restrictions on Payment of Certain Debt 83 6.7 Fundamental Changes 83 6.8 Fiscal Year 84 6.9 Restrictive Agreements 84 6.10 Affiliate Transactions 85 Page 6.11 Amendments to Subordinated Debt 86 6.12 Passive Holding Company 86 SECTION 7.
Section 9.17 Gas Imbalances, Take-or-Pay or Other Prepayments 114 Section 9.18 Swap Agreements 115 Section 9.19 New Accounts 116 Section 9.20 Changes in Fiscal Period 116 Section 9.21 Passive Holding Company Status of Parent 116 Section 9.22 Amendment to Certain Documents and Agreements 116 Article X EVENTS OF DEFAULT; REMEDIES 117 Section 10.01 Events of Default 117 Section 10.02 Remedies.
Passive Holding Company 104108 ARTICLE VII Events of Default 105109 SECTION 7.01.
Holding will at all times satisfy the Passive Holding Company Condition.
Passive Holding Company Status...................................
NEGATIVE COVENANTS Section 7.01 Liens 133 Section 7.02 Investments 138 Section 7.03 Indebtedness 142 Section 7.04 Fundamental Changes 146 Section 7.05 Dispositions 149 Section 7.06 Restricted Payments 151 Section 7.07 Transactions with Affiliates 155 Section 7.08 Negative Pledge 157 Section 7.09 Junior Debt Prepayments; Amendments to Junior Financing Documents 159 Section 7.10 Passive Holding Company 161 Section 7.11 Changes in Fiscal Year 162 ARTICLE VIII.