Retained Subsidiary definition
Examples of Retained Subsidiary in a sentence
On the Distribution Date, Manor Care shall retain (or shall cause a Retained Subsidiary to assume) sole responsibility for all liabilities and obligations under the Manor Care, Inc.
Sunburst shall, as soon as practicable after the Distribution Date, in accordance with Section 5.02 provide Choice with such additional information in the possession of Sunburst or a Retained Subsidiary and not already in the possession of Choice or a Choice Subsidiary as may reasonably be requested by Choice and necessary in order for Choice or a Choice Subsidiary to administer effectively the Choice Hotels International, Inc.
Except as set forth on Schedule 3.01(e)(i), all of the outstanding shares of capital stock of each Retained Subsidiary are owned, either directly or indirectly, by the Company free and clear of all Liens.
Manor Care shall, as soon as practicable after the Distribution Date, in accordance with Section 5.02 provide Choice with such additional information in the possession of Manor Care or a Retained Subsidiary and not already in the possession of Choice or a Choice Subsidiary as may reasonably be requested by Choice and necessary in order for Choice or a Choice Subsidiary to administer effectively the Choice International Hotels, Inc.
All payments and reimbursements that from time to time after the Closing may be received by IDB Buyer or the IDB Subsidiaries arising out of the Seller Retained Businesses shall be held for the benefit of Seller or the applicable Seller Retained Subsidiary and, promptly upon receipt thereof, IDB Buyer shall pay to Seller or the applicable Seller Retained Subsidiary the amount of such payment or reimbursement without any delay, deduction or setoff.