Pledged Subsidiary definition

Pledged Subsidiary means each Subsidiary in respect of which the Administrative Agent has been granted a security interest in or a pledge of (a) any of the Capital Securities of such Subsidiary or (b) any intercompany notes of such Subsidiary owing to the Borrower or another Subsidiary.

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Pledged Subsidiary means each Foreign Subsidiary a portion of the Equity Interests of which has been pledged pursuant to a Pledge Agreement in accordance with Section 5.10.

Pledged Subsidiary means any Subsidiary whose issued and outstanding equity interests are pledged pursuant to the applicable Pledge Agreement. As of the Closing Date, the Pledged Subsidiaries shall be those entities listed on Schedule 5.

Examples of Pledged Subsidiary in a sentence

• No Pledgor has (i) registered the Pledged Collateral in the name of any other Person, (ii) consented to any agreement by any of the Pledged Subsidiaries in which any such Pledged Subsidiary agrees to act on the instructions of any other Person, (iii) delivered the Pledged Collateral to any other Person, or (iv) otherwise granted Control of the Pledged Collateral to any other Person.

• Pledgor hereby instructs [each][the] Pledged Subsidiary to act upon any instruction delivered to it by the Administrative Agent with respect to the Pledged Collateral after the occurrence and during the continuance of an Event of Default without seeking further instruction from [such][the] Pledgor, and, by its execution hereof, the Pledged Subsidiary agrees to do so.

• Each Pledgor shall execute and deliver to each Pledged Subsidiary a control acknowledgment (“Control Acknowledgment”) substantially in the form of Exhibit D hereto and shall cause each such Pledged Subsidiary to acknowledge in writing its receipt and acceptance thereof.

• Each Pledgor shall, and shall cause each Pledged Subsidiary thereof that is a limited liability company or a partnership, to elect that the Pledged Interests be securities governed by Article 8 of the UCC and to evidence such securities by a certificate, in each such case, in a manner acceptable to the Administrative Agent.

• Neither the Pledged Interests (if any) nor any asset owned by any Pledged Subsidiary nor any direct or indirect interest of the Borrower in any such Pledged Subsidiary is subject to any Lien (other than (x) in the case of Pledged Interests or any Property, Collateral Permitted Liens, and (y) in the case of all other assets, Permitted Liens) or Negative Pledge (other than a Negative Pledge as and to the extent permitted by the definition of “Eligible Property”).

More Definitions of Pledged Subsidiary

Pledged Subsidiary means any Subsidiary Guarantor owned directly or indirectly by the Company, the Equity Interests of which do not constitute Excluded Pledged Collateral.

Pledged Subsidiary means a Foreign Subsidiary of the Company (i) with respect to which (A) sixty-five percent (65%) of the voting Equity Interests and (B) one hundred percent (100%) of the non-voting Equity Interests of such Foreign Subsidiary has been pledged to the Administrative Agent pursuant to a Pledge Agreement for the ratable benefit of the Lenders and, to the extent required by the NPAs, the Noteholders or (ii) which is a Wholly- Owned Subsidiary of a Pledged Subsidiary.

Pledged Subsidiary has the meaning specified in the Pledge Agreement.

Pledged Subsidiary means a Person that has issued any Equity Interest that constitutes any part of the Pledged Collateral.

Pledged Subsidiary means a direct Subsidiary of the Borrower or AES BVI II listed on Schedule I hereto, whose Equity Interests have been pledged to the Collateral Trustees for the benefit of the Secured Holders by the Borrower or AES BVI II, as applicable, pursuant to the Security Agreement or the BVI Cayman Pledge Agreement.

Pledged Subsidiary means a Subsidiary of the Borrower, any of the Capital Stock of which is subject to a Stock Acquisition Lien or any other Lien.

Pledged Subsidiary has the meaning assigned to such term in Section 6.03(a)(i)(E).