Permitted Subsidiary Investments is defined in subsection (c) of the definition entitled “Permitted Investments” appearing alphabetically in this Section 13.1.
Permitted Subsidiary Investments means the aggregate amount of Investments made by the Borrower in any Permitted Subsidiary which has not guaranteed the Obligations hereunder and secured such guarantee with a first priority perfected Lien on its assets pursuant to agreements satisfactory to the Agent, provided, for purposes of calculating Permitted Subsidiary Investments, each such Investment shall be calculated as follows: (a) at the time an Investment is made, the amount of such Investment shall equal the market value of such Investment at the time such Investment is made (the “Initial Valuation”); (b) at the time any subsequent Investment is made, for any Investment made immediately prior to the making of the current Investment, such previously made Investment shall be valued at the lesser of (i) each such Investment’s Initial Valuation and (ii) the then current market value of such Investment as of the relevant date of determination as such amount is set forth in a certificate delivered to the Agent by the Borrower (the “Next Valuation”; provided, for each then subsequent valuation of such Investment, the Borrower shall deliver an updated certificate showing a valuation in an amount equal to the lesser of (1) the most recent valuation number calculated pursuant hereto on the certificate most recently delivered to the Agent and (2) the then current market value of such Investment; such amount being the “Subsequent Valuation”); (c) at the time any Investment is made, for any Investment made which had a Subsequent Valuation, the lesser of (x) such Subsequent Valuation and (y) the then current market value of such Investment as of the relevant date of determination.
Permitted Subsidiary Investments means loans, advances or transfers of cash in the ordinary course of business from a Borrower or a Guarantor to a Subsidiary of Parent, so long as:
Examples of Permitted Subsidiary Investments in a sentence
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.
Except for (i) Permitted Subsidiary Investments, (ii) Investments in Subsidiaries that are Guarantors and Investments in the Company, (iii) Investments in cash or Cash Equivalents, (iv) Investments existing on the date hereof and identified in Exhibit 4.2(k); and (v) other Investments in an amount not to exceed in the aggregate $500,000, make or acquire any Investment.
Except for Permitted Subsidiary Investments, make or acquire any Investment in its Subsidiaries.
More Definitions of Permitted Subsidiary Investments
Permitted Subsidiary Investments means (i) Investments by the Company in its Subsidiaries that are not Guarantors existing on the date hereof and (ii) additional Investments by the Company in such Subsidiaries which, taken as a whole, do not exceed $500,000 in the aggregate in any fiscal year.
Permitted Subsidiary Investments means direct or indirect Investments of Borrower in Subsidiaries of Borrower either (a) existing on the Closing Date and fully disclosed in SCHEDULE P-2, or (b) consisting of advances by Borrower to Subsidiaries made after the Closing Date, or guarantees by Borrower of Indebtedness of Subsidiaries given after the Closing Date, so long as of the date of any such advance (1) the aggregate net Dollar-equivalent amount of such advances outstanding at such date (giving effect to all such advances made and repaid since the Closing Date), plus the aggregate potential Dollar-equivalent exposure with respect to all such guarantees outstanding at such date, plus the aggregate Dollar-equivalent amount of any and all payments made by Borrower under any such guarantees after the Closing Date to the extent that such payments have not been reimbursed to Borrower by the Subsidiary or Subsidiaries whose obligations were so guarantied, does not exceed the Foreign Advance Cap, and provided that, (2) on and after August 1, 1997, such advances shall be made, or guarantees given, only when Borrower does not have any non-disputed payables due to Carriers that remain unpaid for more than 90 days after their invoice dates.
Permitted Subsidiary Investments means HTO Permitted Investments and Non-HTO Permitted Investments.
Permitted Subsidiary Investments means: (a) with respect to any -------------------------------- Subsidiaries of Borrower in existence on the Effective Date, direct or indirect Investments of Borrower in such Subsidiaries to the extent such Investments existed on the Effective Date and are fully disclosed in Schedule P-2, (b) with ------------ respect to Subsidiaries of Borrower other than Switchboard, Japan Sub, and Australia Sub, as of any date of determination after the Effective Date (which determination shall be made monthly), fees (including "management fees") paid to or for the benefit of such Subsidiaries, expenses paid or advanced to or for the benefit of such Subsidiaries, and/or guarantees entered into and outstanding by Borrower with respect to obligations of such Subsidiaries and any unreimbursed payments by Borrower under such guarantees, to the extent that, as of such date of determination, the aggregate amount of such fees, expenses, guarantees, and unreimbursed payments during the 12 months preceding such date of determination does not exceed the revenues of Borrower during such 12 month period that are reasonably allocated to or derived from such Subsidiaries, and (c) with respect to Switchboard, Japan Sub, and Australia Sub, post-Effective Date Investments in such Subsidiaries not to exceed $4,000,000 in the aggregate at any one time outstanding.
Permitted Subsidiary Investments means, with respect to the Borrower, loans, advances or extensions of credit to one or more Subsidiaries so long as the aggregate amount thereof outstanding as of any date of determination of the Tangible Net Worth of the Borrower and its Subsidiaries does not exceed five percent (5%) of the aggregate Tangible Net Worth of the Borrower and the Subsidiaries on a consolidated basis.
Permitted Subsidiary Investments means direct or indirect -------------------------------- Investments of Borrower in Subsidiaries of Borrower that: (a) are in existence on the
Permitted Subsidiary Investments means (i) Investments by Borrower in Borrower’s Subsidiaries or Investments by one of Borrower’s Subsidiaries in another of Borrower’s Subsidiaries in an amount not to exceed Five Hundred Thousand Dollars ($500,000.00) in the aggregate in any fiscal year, and (ii) contributions of capital to any foreign Subsidiary of Borrower as needed to satisfy applicable minimum capitalization requirements in such Subsidiary’s jurisdiction in an amount not to exceed Five Hundred Thousand Dollars ($500,000.00) in the aggregate in any fiscal year. For the avoidance of doubt, payments to and among Subsidiaries made under cost-plus arrangements shall not be deemed Investments for purposes of this Agreement.