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 Permitted Subsidiary Investments, make or acquire any Investment in its Subsidiaries.
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.
More Definitions of Permitted Subsidiary Investments
Permitted Subsidiary Investments is defined in clause (iii) of the definition of “Permitted Investments”.
Permitted Subsidiary Investments means Investments by You in Your Subsidiaries or Investments by one of Your Subsidiaries in another of Your Subsidiaries; provided, that (i) Investments not in the form of Intercompany Notes (as defined below) shall not exceed Five Hundred Thousand Dollars ($500,000) in the aggregate in any fiscal year, (ii) intercompany loans not to exceed One Million Dollars ($1,000,000) in the aggregate in any fiscal year of such loans shall be in the form of a demand note (“Intercompany Note”) evidencing any such intercompany indebtedness in a form and substance reasonably satisfactory to Us and such Intercompany Note shall be pledged and delivered to Us as additional Collateral for the Secured Obligations, and (iii) contributions of capital to Your any foreign Subsidiary as needed to satisfy applicable minimum capitalization requirements in such Subsidiary’s jurisdiction shall in all events be Permitted Subsidiary Investments. 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. “Person” means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, limited liability company, institution, public benefit corporation, other entity or government (whether federal, state, county, city, municipal, local, foreign, or otherwise, including any instrumentality, division, agency, body or department thereof).
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 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: (a) no Default or Event of Default exists at the time of the making of such loan, advance, or transfer of cash or would exist after giving effect thereto, (b) Borrowers have aggregate Excess Availability greater than $0 as of the date of such loan, advance or transfer of cash and immediately after giving effect thereto, (c) both before and after giving effect to the making of such loan, advance or transfer of cash, the Person that is acting as the transferor with respect thereto is Solvent, (d) both before and after giving effect to the making of such loan, advance or transfer of cash, all of the Subsidiaries (other than Subsidiaries that are Borrowers or Guarantors), taken as a whole, do not have cash or Cash Equivalents in excess of $8,000,000 in the aggregate (or the Dollar equivalent thereof) for more than three consecutive Business Days, and (e) the making of such loan, advance or transfer of cash shall not cause the aggregate amount of all loans, advances or transfers of cash made by all Borrowers to all Subsidiaries (other than Subsidiaries that are Borrowers or Guarantors) as Permitted Subsidiary Investments in any fiscal quarter to exceed $20,000,000.
Permitted Subsidiary Investments means HTO Permitted Investments and Non-HTO Permitted Investments.
Permitted Subsidiary Investments means Investments by the Company in its Subsidiaries, taken as a whole, after the Closing in an amount not greater than $350,000 in the aggregate at any one time outstanding; PROVIDED, HOWEVER, that if the Company elects to make an Investment in a Subsidiary and after giving to the proposed Investment, the Company's Investment in such Subsidiary shall exceed $100,000, then, prior to the making of the proposed Investment, the Company shall cause the Subsidiary that is the object of the Investment to execute a guaranty, in form and substance satisfactory to the Purchasers, in favor of the Purchasers relative to the payment and performance of the obligations of the Company to the Purchasers under this Agreement, the Notes, and the other Financing Documents.
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.