Recourse Subsidiary definition

Recourse Subsidiary means any Subsidiary of the Company which is not a Non-Recourse Subsidiary.
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Recourse Subsidiary means any Subsidiary having debts that are recourse to the Corporation.
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Recourse Subsidiary of a Person means any subsidiary of such Person that is not a non-recourse subsidiary of such Person.
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Examples of Recourse Subsidiary in a sentence

  • The designation by the Company or any of its Subsidiaries of a Subsidiary as a Non-Recourse Subsidiary shall be deemed to be the making of a Restricted Investment by the Company in an amount equal to the outstanding Investments made by the Company and its Subsidiaries in such Person being designated a Non- Recourse Subsidiary at the time of such designation.

  • Will not, and will not permit any Recourse Subsidiary to, make any Investment in any Joint Venture on any date if, immediately after giving effect to such Investment, the aggregate amount of all such Investments made by OSG and the Recourse Subsidiaries after December 31, 2004 would exceed 30% of Consolidated Net Tangible Assets based on the most recent consolidated balance sheet of OSG required to be provided pursuant to Section 8.1(A)(d).

  • Additionally, many instruments are able to play multiple notes at the same time, each causing extra contributions and interference in the spectrum from harmonics.

  • So long as any 1998 Securities shall remain Outstanding, the Company shall not, and shall not permit, cause or suffer any of its Recourse Subsidiaries to, create, incur, assume or suffer to exist any Liens of any kind upon any property or assets of the Company or any Recourse Subsidiary, whether now owned or hereafter acquired, except for Permitted Liens.

  • So long as any Notes shall remain Outstanding, the Company shall not, and shall not permit, cause or suffer any of its Recourse Subsidiaries to, create, incur, assume or suffer to exist any Liens of any kind upon any property or assets of the Company or any Recourse Subsidiary, whether now owned or hereafter acquired, except for Permitted Liens.

  • The Borrower shall not permit any Non-Recourse Subsidiary that is subject to Restrictive Covenants to become a Recourse Subsidiary unless at or prior to the same time such Subsidiary becomes free of Restrictive Covenants.

  • Will not, and will not permit any Recourse Subsidiary to, create, assume, incur or in any manner become liable in respect of any Secured Debt unless immediately after giving effect thereto and to the application of the proceeds thereof, (i) the ratio of Unencumbered Assets to Unsecured Debt shall not be less than 1.50 to 1 and (ii) the ratio of Collateralized Assets to Consolidated Net Tangible Assets shall not exceed .25 to 1.

  • The Company shall cause each Person which becomes a Recourse Subsidiary of the Company after the date of this Indenture to become a party to this Indenture as a Subsidiary Guarantor on the date such Person becomes a Recourse Subsidiary.

  • Borrower shall, and shall cause its Recourse Subsidiaries to, preserve and maintain its existence and material rights and franchises; provided, however, nothing herein shall prevent Borrower or the Recourse Subsidiary from engaging in the ordinary course of business sale of assets or a merger or a dissolution of such Recourse Subsidiary following such event.

  • The Unrestricted Subsidiary - CCO Safari column is a Non- Recourse Subsidiary under the Charter Operating credit agreement.


More Definitions of Recourse Subsidiary

Recourse Subsidiary means any Subsidiary that has entered into, undertaken or assumed any Contractual Obligation in connection with which Borrower is subject to a Recourse Obligation.
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Recourse Subsidiary means any direct or indirect Subsidiary (i) for which the Borrower or any Material Subsidiary has issued a Guaranty, or (ii) as to which the Borrower or any other Material Subsidiary has made a commitment to contribute (or has in fact contributed) equity, or (iii) for which the Borrower or any Material Subsidiary has general partner liability or other derivative liability by operation of law or Contract, but only if the sum of the Liabilities (and payments in respect of Liabilities) referred to in clauses (i), (ii) and (iii) above exceeds the product of (A) 30% times (B) the Borrower's indirect ownership percentage of such Subsidiary times (C) the sum of the book value of all assets of such Subsidiary and the projected capital cost of all assets of such Subsidiary under construction. A Subsidiary shall constitute a Recourse Subsidiary only during such periods for which the terms of the foregoing description are satisfied.
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Recourse Subsidiary means any recourse subsidiary of the Borrower.
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Recourse Subsidiary means any Subsidiary that either (i) is a Restricted Subsidiary or (ii) has outstanding any Indebtedness other than Non-Recourse Debt.
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Related to Recourse Subsidiary

  • Non-Recourse Subsidiary means any Subsidiary of the Company (1) whose principal purpose is to incur Non-Recourse Indebtedness and/or construct, lease, own or operate the assets financed thereby, or to become a direct or indirect partner, member or other equity participant or owner in a partnership, limited partnership, limited liability partnership, corporation (including a business trust), limited liability company, unlimited liability company, joint stock company, trust, unincorporated association or joint venture created for such purpose (collectively, a “Business Entity”), (2) who is not an obligor or otherwise bound with respect to any Indebtedness other than Non-Recourse Indebtedness, (3) substantially all the assets of which Subsidiary or Business Entity are limited to (x) those assets being financed (or to be financed), or the operation of which is being financed (or to be financed), in whole or in part by Non-Recourse Indebtedness, or (y) Capital Stock in, or Indebtedness or other obligations of, one or more other Non-Recourse Subsidiaries or Business Entities, and (4) any Subsidiary of a Non-Recourse Subsidiary; provided that such Subsidiary shall be considered to be a Non-Recourse Subsidiary only to the extent that and for so long as each of the above requirements are met.

  • Guarantor Subsidiary means each Guarantor other than Holdings.

  • JV Subsidiary means any Wholly-Owned Subsidiary of the Borrower that directly holds Capital Stock of a Joint Venture.

  • ORE Subsidiary means any Subsidiary of the Assuming Bank that engages solely in holding, servicing, managing or liquidating interests of a type described in clause (A) of the definition of “Other Real Estate,” which interests have arisen from the collection or settlement of a Shared-Loss Loan.

  • Recourse Indebtedness means Indebtedness that is not Non-Recourse Indebtedness; provided that personal recourse for Customary Recourse Exceptions shall not, by itself, cause such Indebtedness to be characterized as Recourse Indebtedness.

  • Material Domestic Subsidiary means any Domestic Subsidiary that is a Material Subsidiary.

  • License Subsidiary means one or more wholly-owned Restricted Subsidiaries of the Issuer (i) that holds, was formed for the purpose of holding or is designated to hold FCC Licenses for the launch and operation of Satellites or for the operation of any TT&C Earth Station (other than any FCC License held by Intelsat General Corporation or any of its Subsidiaries) and (ii) all of the shares of capital stock and other ownership interests of which are held directly by the Issuer or a Subsidiary Guarantor.

  • Consolidated Subsidiary means at any date any Subsidiary or other entity the accounts of which would be consolidated with those of the Borrower in its consolidated financial statements if such statements were prepared as of such date.

  • Non-U.S. Subsidiary means any Subsidiary that is not a U.S. Subsidiary.

  • SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

  • Immaterial Domestic Subsidiary means any Domestic Subsidiary that is not a Material Domestic Subsidiary.

  • Restricted Subsidiary means any Subsidiary of the Company other than an Unrestricted Subsidiary.

  • Special Purpose Subsidiary means any (a) not-for-profit Subsidiary, (b) captive insurance company or (c) Receivables Subsidiary and any other Subsidiary formed for a specific bona fide purpose not including substantive business operations and that does not own any material assets, in each case, that has been designated as a “Special Purpose Subsidiary” by the Borrower.

  • SBIC Subsidiary means any Subsidiary of the Borrower (or such Subsidiary’s general partner or manager entity) that is (x) a “small business investment company” licensed by the SBA (or that has applied for such a license and is actively pursuing the granting thereof by appropriate proceedings promptly instituted and diligently conducted) under the Small Business Investment Act of 1958, as amended, and (y) designated in writing by the Borrower (as provided below) as an SBIC Subsidiary, so long as:

  • Non-Guarantor Subsidiary means any Restricted Subsidiary that is not a Guarantor.

  • Finance Subsidiary means any Subsidiary of the Company, whether now existing or hereafter created or acquired, (a) of which at least ninety percent (90%) of all of the issued and outstanding voting and beneficial Equity Interests are owned, directly or indirectly, by the Company; (b) that has no material assets, operations, revenues or cash flows other than those related to the incurrence, administration and repayment of Indebtedness; and (c) whose Indebtedness is Guaranteed by the Company.

  • Regulated Subsidiary means any Subsidiary registered or regulated as a broker or dealer with or by the SEC, FINRA, FSA, CFTC or any other applicable governmental authority, whether domestic or foreign.

  • Material Subsidiary means any Subsidiary that is not an Immaterial Subsidiary.

  • Wholly-Owned Consolidated Subsidiary means any Consolidated Subsidiary all of the shares of capital stock or other ownership interests of which (except directors' qualifying shares) are at the time directly or indirectly owned by the Borrower.

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • Project Subsidiary means any Subsidiary of the Company held for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties and any Subsidiary of the Company whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of the Company other than obligations of the Company related to Project Debt of one or more Project Subsidiaries.

  • Domestic Subsidiary means any Subsidiary that is organized under the Laws of the United States, any state thereof or the District of Columbia.

  • Guarantor Subsidiaries has the meaning set forth in the Recitals to this Agreement.

  • Limited Recourse Indebtedness means Indebtedness incurred by the Parent Guarantor or any Subsidiary to finance the creation or development of a Project or proposed Project of the Parent Guarantor or such Subsidiary, provided that, as specified in the terms of such Limited Recourse Indebtedness:

  • Subsidiary means, with respect to any specified Person:

  • Project Finance Subsidiary means a Subsidiary that is a special-purpose entity created solely to (i) construct or acquire any asset or project that will be or is financed solely with Project Financing for such asset or project and related equity investments in, loans to, or capital contributions in, such Subsidiary that are not prohibited hereby and/or (ii) own an interest in any such asset or project.