Examples of Permitted Subsidiaries in a sentence
Notwithstanding anything to the contrary contained in this Agreement, without limiting the generality of the foregoing provisions of this Section 6.2(a), it is specifically agreed that the Manager shall have authority to execute, deliver and perform the applicable Loan Documents and Permitted Subsidiaries Documents on behalf of the Company without the vote or approval of any other Person (including, without limitation, the Independent Manager).
The Borrower has no Subsidiaries other than Permitted Subsidiaries.
The Borrower will not at any time have any Subsidiaries other than the Permitted Subsidiaries, provided, however, that each time the Borrower makes any Investment in a Permitted Subsidiary, as of the date of making any such Investment, the aggregate amount of all Permitted Subsidiary Investments (including the amount of the Investment the Borrower is contemplating making) shall not exceed five percent (5%) of the Borrower’s Total Assets, as determined as of the date of making any such Investment.
No Consolidated Entity shall create or acquire any direct or indirect Subsidiary or Affiliate or divest itself of any material assets by transferring them to any existing Subsidiary or Affiliate other than Permitted Subsidiaries; nor shall Borrower enter into any partnership, joint venture, or similar arrangement, or otherwise make any material change in its corporate structure, except that Borrower may acquire and create Permitted Subsidiaries from time to time in the ordinary course of business.
All Borrower Entities shall at all times be guarantors of the Obligations, excepting only Subsidiaries that are not required to be guarantors under the definition of Permitted Subsidiaries in this Agreement.