Substantial Subsidiary definition

Substantial Subsidiary means any Subsidiary of Borrower with respect to which (a) the aggregate book value of its assets, determined in accordance with GAAP at such time, is greater than 1% of the aggregate book value of the assets of Borrower and its Subsidiaries taken as a whole or (b) the aggregate gross revenues of such Subsidiary, determined in accordance with GAAP for the immediately preceding fiscal quarter, is greater than 1% of the aggregate gross revenues of Borrower and its Subsidiaries taken as a whole, for such period.

Substantial Subsidiary means, at the time of any determination thereof, any Subsidiary which as of such time meets the definition of "significant subsidiary" contained in Regulation S-X of the SEC (as amended from time to time), so long as it is a Subsidiary, but whether or not it otherwise meets such definition, Ashland Paving and Construction, Inc.

Substantial Subsidiary means, at any time, one or more Subsidiary Guarantors which hold, own or contribute, as the case may be, in the aggregate, 15% or more of the gross revenues, assets or EBITDA of the Borrower and its Restricted Subsidiaries, on a consolidated basis, as of the last day of, or for, the most recently completed period of four consecutive Fiscal Quarters of the Borrower for which, at such time, financial statements shall have been delivered to the Lenders pursuant to this Agreement.

Examples of Substantial Subsidiary in a sentence

• Each Guarantor which is not a Substantial Subsidiary is duly organized and validly existing under the laws of the jurisdiction of its formation and is in good standing and properly licensed to conduct business in the State in which its principal operations are located and in every jurisdiction in which the nature of the business conducted by it makes such compliance necessary except where failure to comply with any of the foregoing could not reasonably be expected to have a Material Adverse Effect.

• Each Substantial Subsidiary is duly organized and validly existing under the laws of the jurisdiction of its formation, and is in good standing and properly licensed to conduct business in the State in which its principal operations are located and in every jurisdiction in which the nature of the business conducted by it makes such compliance necessary and where failure to comply would have a Material Adverse Effect.

• Each Substantial Subsidiary is duly organized and validly existing under the laws of the jurisdiction of its formation, and is in good standing and properly licensed to conduct business in the State in which its principal operations are located and in every jurisdiction in which the nature of the business conducted by it makes such compliance necessary and where failure to comply would have a material adverse effect on the business of any such Subsidiary.

• There is no fact peculiar to the Borrower or any Substantial Subsidiary which has a Material Adverse Effect or in the future is reasonably likely to have (so far as the Borrower can now foresee) a Material Adverse Effect and which has not been set forth in this Agreement or the other documents, certificates and statements furnished to the Administrative Agent by or on behalf of the Borrower or any Subsidiary prior to, or on, the Effective Date in connection with the transactions contemplated hereby.

• To the best knowledge of Borrower, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed by Borrower or any of its Subsidiaries infringes upon any rights obtained by any other Person, except where the failure to be in compliance with this sentence would not have a material adverse effect on Borrower or any Substantial Subsidiary, and no claim or litigation regarding any of the foregoing is pending or threatened.

More Definitions of Substantial Subsidiary

Substantial Subsidiary means, on any date, each Subsidiary of the Borrower (i) whose revenues for the four Fiscal Quarters of the Borrower most recently ended on or prior to such date equaled or exceeded 2% of the Consolidated revenues of the Borrower and its Subsidiaries for such period or (ii) whose assets as of such date equaled or exceeded 2% of the Consolidated assets of the Borrower and its Subsidiaries as of such date.

Substantial Subsidiary means Del Monte Fresh Produce Company, Del Monte Fresh Produce N.A., Inc., Del Monte Fresh Produce International, Inc., Compañia de Desarrollo Bananero de Guatemala, S.A., Corporacion de Desarrollo Agricola Del Monte S.A., Del Monte Fresh Produce (Chile) S.A., and such other subsidiaries of FDMP as the Board may from time to time determine.

Substantial Subsidiary means a body corporate which is a Subsidiary of the Borrower whose gross assets or revenues, at any time, represent 5 per cent or more of the consolidated gross assets or revenues of the Group at that time, and for this purpose:

Substantial Subsidiary means any Subsidiary of Borrower with respect to which (a) the aggregate book value of its assets, determined in accordance with GAAP at such time, is greater than 2.5% of the aggregate book value of the assets of Borrower and its Subsidiaries taken as a whole or (b) the aggregate gross revenues of such Subsidiary, determined in accordance with GAAP for the immediately preceding fiscal quarter, is greater than 2.5% of the aggregate gross revenues of Borrower and its Subsidiaries taken as a whole, for such period. The aggregate amount of all non-Substantial Subsidiaries shall not exceed 5% of the aggregate book value of the assets of Borrower and its Subsidiaries taken as a whole or 5% of the aggregate gross revenues of Borrower and its Subsidiaries taken as a whole, for any period.

Substantial Subsidiary means any Subsidiary that has received funding or will receive funding from Borrower in excess of $100,000, other than the Trust, Georgia and Dickxxx, XXC.

Substantial Subsidiary means a Subsidiary which is not an Inactive Subsidiary.

Substantial Subsidiary means any Subsidiary or group of Subsidiaries of ACS that individually or collectively satisfies either of the following financial criteria: (a) as of the most recently ended Rolling Period, the EBITDA of such Subsidiary or group of Subsidiaries of ACS exceeds 15% of the EBITDA of all of the Companies, or (b) on any date of determination, the book value of the total assets of such Subsidiary or group of Subsidiaries of ACS exceeds 7.5% of the book value of all assets of all of the Companies.