Principal Subsidiaries definition

Principal Subsidiaries means any subsidiary of the Guarantor whose total assets, as shown by the accounts of such subsidiary (consolidated in the case of a subsidiary which itself has subsidiaries), based upon which the latest audited consolidated accounts of the Group have been prepared, is at least 20 per cent. of the total assets of the Group as shown by such audited consolidated accounts, provided that if any such subsidiary (the “transferor”) shall at any time transfer the whole or a substantial part of its business, undertaking or assets to another subsidiary of the Guarantor or to the Guarantor itself (the “transferee”) then:

Principal Subsidiaries means any Subsidiary of the Issuer whose profit before tax, as shown by the accounts of such Subsidiary (consolidated in the case of a company which itself has Subsidiaries), based upon which the latest audited consolidated accounts of the Group have been prepared, are at least 10 per cent. of the profit before tax and exceptional items of the Group as shown by such audited consolidated accounts, provided that if any such Subsidiary (the “transferor”) shall at any time transfer the whole or a substantial part of its business, undertaking or assets to another Subsidiary or the Issuer (the “transferee”) then:

Principal Subsidiaries means any subsidiary of CRCT whose total assets, as shown by the accounts of such subsidiary (consolidated in the case of a company which itself has subsidiaries), based upon which the latest audited consolidated accounts of the Group have been prepared, are at least 20 per cent. of the total assets of the Group as shown by such audited consolidated accounts; provided that if any such subsidiary (the “transferor”) shall at any time transfer the whole or a substantial part of its business, undertaking or assets to another subsidiary or CRCT (the “transferee”) then: (aa) if the whole of the business, undertaking and assets of the transferor shall be so transferred, the transferor shall thereupon cease to be a Principal Subsidiary and the transferee (unless it is the Issuer) shall thereupon become a Principal Subsidiary; and (bb) if a substantial part only of the business, undertaking and assets of the transferor shall be so transferred, the transferor shall remain a Principal Subsidiary and the transferee (unless it is the Issuer) shall thereupon become a Principal Subsidiary. Any subsidiary which becomes a Principal Subsidiary by virtue of (aa) above or which remains or becomes a Principal Subsidiary by virtue of (bb) above shall continue to be a Principal Subsidiary until the date of issue of the first audited consolidated accounts of the Group prepared as at a date later than the date of the relevant transfer which show the total assets of such subsidiary as shown by the accounts of such subsidiary (consolidated (if any) in the case of a company which itself has subsidiaries), based upon which such audited consolidated accounts have been prepared, to be less than 20 per cent. of the total assets of the Group, as shown by such audited consolidated accounts. A report by the Auditors (as defined in the Trust Deed), who shall also be responsible for producing any pro-forma accounts required for the above purposes, that in their opinion a subsidiary is or is not a Principal Subsidiary shall, in the absence of manifest error, be conclusive; and

Examples of Principal Subsidiaries in a sentence

• Each of the Borrower and the Principal Subsidiaries maintains insurance with financially sound and reputable insurers, or self-insurance, with respect to its properties and business against loss or damage of the kind customarily insured against by reputable companies in the same or similar business and of such types and in such amounts (with such deductible amounts) as is customary for such companies under similar circumstances.

• The Borrower will keep books of record and account of the Borrower and its Principal Subsidiaries in which full, true and correct entries in accordance with generally accepted accounting principles will be made of all dealings or transactions in relation to its business and activities.

• Those Standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement.

• The Borrower and its Principal Subsidiaries maintain with financially sound and reputable insurance companies insurance on all their Property in such amounts and covering such risks as is consistent with sound business practice.

• All Existing Principal Subsidiaries are direct or indirect wholly-owned Subsidiaries of the Borrower, except to the extent any such Existing Principal Subsidiary or an interest therein has been sold in accordance with clause (b) of Section 6.2.7 or such Existing Principal Subsidiary no longer owns a Vessel.

More Definitions of Principal Subsidiaries

Principal Subsidiaries means any Relevant Subsidiary of the Issuer:

Principal Subsidiaries means (i) Xxxxxxx.Xxx (Hong Kong) Limited, (ii) China The9 Interactive Limited, (iii) China The9 Interactive (Shanghai) Limited, (iv) The9 Computer Technology Consulting (Shanghai) Co., Ltd. and (xii) any other Subsidiary which at any time on or after the date of this Note would be deemed a “significant subsidiary” (as such term is defined in Rule 1-02(w) of Regulation S-X under the Securities Act) of the Company.

Principal Subsidiaries of the Company means the following so long as they continue to be Subsidiaries: American Express Travel Related Services Company, Inc., American Express Financial Corporation, American Express Bank Ltd. and any one or more Subsidiaries of the Company that shall succeed to all or substantially all of the business of any of the foregoing Subsidiaries or succeed to the ownership of all or substantially all of the property and assets of any of the foregoing Subsidiaries.

Principal Subsidiaries means National Public Finance Guarantee Corporation, or any Subsidiary succeeding to any substantial part of the business now conducted by that corporation.

Principal Subsidiaries means any Subsidiary of the Borrower whose Consolidated Tangible Assets comprise in excess of 10% of the Consolidated Tangible Assets of the Borrower and its consolidated Subsidiaries as of the date hereof or at any time hereafter.

Principal Subsidiaries means Phoenix Life Insurance Company and Phoenix Investment Partners, Inc., or any Subsidiary succeeding to any substantial part of the business now conducted by any of those corporations.

Principal Subsidiaries means those Subsidiaries listed on Schedule II hereto, as such Schedule may be amended and supplemented from time to time.