Specified Joint Venture definition

Specified Joint Venture with respect to any Person, means a Joint Venture (a) in which such Person, directly or indirectly (i) owns more than 50% of the Equity Interests (or owns at least 50% of the Equity Interests if such Joint Venture is consolidated in the financial statements of such Person) and (ii) with respect to any Joint Venture in which such Person owns more than 50% of the Equity Interests, exercises control (as defined in the definition of “Affiliate”) and (b) that is designated in writing by the Board of Directors (or equivalent governing body) of such Person as a “Specified Joint Venture” for purposes of this Agreement.

Specified Joint Venture means any Restricted Party’s Equity Interest in the following Joint Ventures: (a) TI Africa Limited; (b) TI Asia Limited; and (c) OSG Nakilat Corporation.

Specified Joint Venture means a joint venture or other ----------------------- Person (other than a Consolidated Subsidiary of the Company) of which (or in which) at least 50% of the Ownership Interests thereof is at the time directly or indirectly owned by the Company, by the Company and one or more of its Consolidated Subsidiaries or by one or more of the Company's Consolidated Subsidiaries, provided that the Company's joint venture partners in such joint venture or other Person do not, in the aggregate, control (or possess the ability to control) such joint venture or other Person. For purposes of this definition, a "joint venture partner" means a Person that owns any Ownership Interests in the related joint venture or other Person and that is not the Company or one of its Consolidated Subsidiaries.

Examples of Specified Joint Venture in a sentence

• Any joint venture or other entity which is not either a Subsidiary or a Specified Joint Venture.

• Enter into any transaction of any kind with any Affiliate of RMC (other than RMC or a Subsidiary), other than arm's-length transactions that are otherwise permitted hereunder; provided that the Specified Joint Venture Agreements, as each such agreement is in effect on the Closing Date, shall be excluded from the requirements of this Section 7.11.

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• With respect to such plans, the Company and each Subsidiary and, to the Company's knowledge, each Specified Joint Venture are in compliance in all material respects with all applicable provisions of ERISA.

• Each Borrower shall irrevocably instruct its Account Debtors, with respect to Accounts Receivable of such Person (and Physical Electronics shall so direct the Specified Joint Venture), to remit all payment to be made by checks or other drafts to the Lockboxes and to remit all payments to be made by wire transfer or by Automated Clearing House, Inc.

More Definitions of Specified Joint Venture

Specified Joint Venture means any of (i) Lyondell Chemical Co. of Ningbo ZRCC (“Ningbo ZRCC”), (ii) a joint venture to be formed after the Effective Date solely to market products produced by Ningbo ZRCC and (iii) any Specified Saudi Joint Venture.

Specified Joint Venture means Al-Waha Petrochemical Company and Saudi Ethylene and Polyethylene Company.

Specified Joint Venture means ULVAC-PHI, Incorporated, a corporation organized under the laws of Japan, the Capital Stock of which is owned 50% by Physical Electronics and 50% by ULVAC Japan, Ltd.

Specified Joint Venture means a Person that is an Affiliate of the Company solely by virtue of the ownership of Capital Interests of such Person by the Company and its Subsidiaries.

Specified Joint Venture means any Joint Venture that is not a Restricted Subsidiary.

Specified Joint Venture means any joint venture that is formed or entered into by the Borrowers or any Guarantor after the Closing Date if the granting by the Borrowers or any Guarantor of a security interest in the capital stock owned by the Borrowers or such Guarantor in such joint venture would violate applicable law or any regulation, rule, order, approval, license or other restriction issued or imposed by any Governmental Authority.

Specified Joint Venture means each Joint Venture described on Schedule B to the Third Amendment.