Relevant Subsidiary definition

Relevant Subsidiary means any fully consolidated subsidiary of HeidelbergCement AG and for purposes only of this § 2 does not include any subsidiary which has one or more classes of equity securities (other than, or in addition to any convertible bonds or similar equity linked securities) which are listed or traded on a regulated stock exchange.

Relevant Subsidiary means a person, other than an individual, which is—

Relevant Subsidiary means a company or corporation:

Examples of Relevant Subsidiary in a sentence

• Any step is taken by any Person with a view to the Winding-up of the Borrower or any Relevant Subsidiary, or any of them ceases or threatens to cease to carry on all or a substantial part of its business, except, in the case of any Relevant Subsidiary, for the purpose of and followed by a solvent intra-Group reconstruction, amalgamation, reorganisation, merger or consolidation, or otherwise where such Winding-up is vexatious or frivolous and it is discharged within 30 days of such step being taken.

• Any Security on or over the Assets of the Borrower or any Relevant Subsidiary becomes enforceable and any step (including the taking of possession or the appointment of a receiver, manager or similar person) is taken to enforce that Security if it has or could have a Material Adverse Effect on the Borrower.

• When related to a Relevant Subsidiary, an Event of Default shall only be considered as such when the creditworthiness of the Issuer is materially weaker immediately after the occurrence of such event, where: materially weaker shall mean that two of the four Rating Agencies modify at least by three lower notches the rating previously applied to the Issuer; and Rating Agencies shall mean Standard & Poor's Rating Services, Moody's Investor Services, Fitch Ratings Ltd and DBRS Ratings Ltd.

• A distress, attachment, execution or other legal process is levied, enforced or sued out on or against the Assets of the Borrower or any Relevant Subsidiary if it has or could have a Material Adverse Effect on the Borrower.

• Permit at any time the rating of any Relevant Subsidiary that is rated by AM Best to have a rating below AM Best financial strength rating B++.

More Definitions of Relevant Subsidiary

Relevant Subsidiary means a wholly-owned Subsidiary of the Issuer or of another Relevant Subsidiary, that has executed a guarantee in respect of the Notes or has become a primary obligor under the Notes as contemplated in sub-paragraph (1) of the definition of “Restructuring Event”.

Relevant Subsidiary means each Material Subsidiary but excluding any Material Subsidiary which is also (a) an Infrastructure Project Subsidiary; or (b) Budimex, S.A., any of its Subsidiaries as at the Closing Date, and any other entity (not previously being a member of the Group) which becomes its Subsidiary on or after the Closing Date.

Relevant Subsidiary means a subsidiary within the meaning of section 1159 of the Companies Act 2006 whose assets are included in the calculation of Adjusted Regulated Asset Value.

Relevant Subsidiary means any Subsidiary which is, directly or indirectly, wholly-owned by the Guarantor or which is so wholly-owned except for any nominal third party shareholding required by law;

Relevant Subsidiary. ’ means, at any particular time, a Subsidiary whose turnover represents at least ten per cent. of the consolidated turnover of PT and its Subsidiaries on a consolidated basis and for these purposes:

Relevant Subsidiary means, at any time, a Subsidiary of the Guarantor (a) whose net assets represent not less than 10 per cent. of the net consolidated assets of the Group as calculated by reference to the then latest audited accounts (or, as the case may be, consolidated accounts) of such Subsidiary and the then latest audited consolidated accounts of the Group or (b) whose gross revenues represent not less than 10 per cent. of the net consolidated gross revenues of the Group as calculated by reference to the then latest audited accounts (or, as the case may be, consolidated accounts) of such Subsidiary and the then latest audited consolidated accounts of the Group.

Relevant Subsidiary. ’ shall mean a company or corporation: