Permitted Joint Venture Investments means any investment by the Borrower, any Subsidiary Guarantor or Globalstar Canada Satellite Co. in joint ventures and partnerships if each such investment meets all of the following requirements:
Permitted Joint Venture Investments means Investments in joint ventures or other risk-sharing arrangements (which may include investments in partnerships or corporations) the purpose of which is to engage in the same or similar lines of business as the operating business of the Company or a Restricted Subsidiary or in businesses consistent with the fundamental nature of the operating business of the Company or a Restricted Subsidiary or necessary or desirable to facilitate the opening business of the Company or a Restricted Subsidiary and is a business or operation that the Company or a Restricted Subsidiary could engage in directly under the terms hereof and that constitute "Investments" solely due to the fact that Persons other than the Company or a Restricted Subsidiary have an interest in such business or operation; provided, however, that the business of such joint venture, partnership, or corporation is, by the terms of the applicable joint venture agreement, partnership agreement, or corporate charter, prohibited from the making of Investments other than Permitted Investments to the extent the Company could make such Investments directly in accordance with the terms hereof.
Permitted Joint Venture Investments means an investment in joint ventures by any Loan Party that satisfies each of the following requirements:
Examples of Permitted Joint Venture Investments in a sentence
Except as set forth on Scheduled 11(p)(i), neither Borrower nor any of its Subsidiaries has any Subsidiaries, other than Subsidiaries that are Subsidiary Obligors, or other Affiliates or divisions, nor is any Obligor engaged in any joint venture or partnership with any other Person, except Permitted Joint Venture Investments.
More Definitions of Permitted Joint Venture Investments
Permitted Joint Venture Investments means (a) Investments existing on the Second Amendment Effective Date and listed on the Perfection Certificate, and (b) in the absence of the existence of a Cash Dominion Event, additional Investments by the Credit Parties in Subsidiaries that are not Credit Parties not to exceed in the aggregate $10,000,000 in any Fiscal Year of the Lead Borrower.
Permitted Joint Venture Investments means Investments in joint ventures or other risk sharing arrangements (which may include investments in partnerships or corporations) the purpose of which is to engage in the same or similar lines of business as the Company or a Restricted Subsidiary or in businesses
Permitted Joint Venture Investments means Joint Venture Investments permitted by Subclause 23.27(b) (Joint Ventures).
Permitted Joint Venture Investments means an investment by a Borrower in any joint venture, provided, that at the time such investment is made (i) no Default or Event of Default has occurred and is continuing or would result therefrom, (ii) (A) Excess Availability would be at least twenty-five percent (25%) of the Maximum Revolving Credit Amount on a pro forma basis immediately after giving effect to such investment and for thirty (30) consecutive days immediately prior such investment on a pro forma basis, or (B) (x) if Excess Availability would be less than twenty-five percent (25%) but greater than seventeen and one-half of one percent (17.5%) of the Maximum Available Credit on a pro forma basis immediately after giving effect to such transaction and for thirty (30) consecutive days immediately prior such investment and (y) the Fixed Charge Coverage Ratio would be at least 1.0 to 1.0 on a pro forma basis as of the most recent fiscal quarter for which such financial statements have been delivered, and (iii) the Agent has a first priority perfected security interest in the equity interests of such joint venture owned by the applicable Borrower.
Permitted Joint Venture Investments means loans, advances, extensions of credit, transfers of property, capital contributions, equity or other profit sharing interests by Borrower to or in Permitted Joint Ventures so long as the following conditions precedent are satisfied: (i) the loans, advances, extensions of credit, transfers of property, capital contributions, equity or other profit sharing interests are in the ordinary course of Borrower’s business as presently conducted by it, (ii) the aggregate amount of such loans, advances, extensions of credit, transfers of property, capital contributions, equity or other profit sharing interests does not exceed $200,000 at any one time, (iii) at the time of making any such loans, advances, extensions of credit, transfers of property, capital contributions, equity or other profit sharing interests (a) Borrower is Solvent and (b) no Event of Default exists, (iv) after giving effect to such loans, advances, extensions of credit, transfers of property, capital contributions, equity or other profit sharing interests, on a pro forma basis, no Event of Default would be created as a result thereof and (v) Borrower records such loans, advances, extensions of credit, transfers of property, capital contributions, equity or other profit sharing interests on its books and records in a manner satisfactory to Bank.
Permitted Joint Venture Investments means investments by any Obligor in a Permitted Joint Venture if, after giving effect to such Investment, the aggregate fair market value of all assets of the Obligors (determined on the date of transfer) transferred since the Closing Date to Permitted Joint Ventures (less the lesser of (a) aggregate fair market value (as determined in good faith by the Board of Directors of the Parent and evidenced by a resolution duly adopted by the Board of Directors of the Parent) and (b) the aggregate fair market value of all such assets subsequently transferred back to the Obligor) would not exceed five percent (5%) of the consolidated net worth of the Parent determined as of the end of the Parent's most recent fiscal quarter for which financial information is available immediately prior to the date of determination); provided that the Parent has provided to the Agent the information described in Section 4 of this Agreement, except that such investments shall not be Permitted Joint Venture Investments to the extent that the Agent reasonably determines that the liabilities an other obligations (contingent or otherwise) of any Obligor resulting therefrom or associated therewith could reasonably be expected to have a Material Adverse Effect.
Permitted Joint Venture Investments means an Investment by a Borrower in a joint venture, partnership, or other entity which in each case is not a Subsidiary as to which each of the following conditions are satisfied: