Tax Blocker Subsidiary definition

Tax Blocker Subsidiary means any wholly-owned, directly or indirectly, subsidiary of the Borrower from time to time designated in writing by the Borrower to the parties hereto, and consented to by the Administrative Agent (not to be unreasonably withheld, conditioned or delayed; provided that no such consent shall be required in connection with the formation of a Tax Blocker Subsidiary if the inability to transfer any applicable asset to such Tax Blocker Subsidiary would reasonably be expected to result in adverse tax consequences to the Borrower or the Collateral Manager), as a “Tax Blocker Subsidiary” (which notice of designation will contain a description of the assets to be transferred to such subsidiary); provided that no Tax Blocker Subsidiary shall hold any assets other than in connection with the receipt of equity securities with respect to a Collateral Loan or Eligible Investments.

Tax Blocker Subsidiary means any wholly-owned subsidiary of the Borrower from time to time designated in writing by the Borrower, and consented to by the Administrative Agent (not to be unreasonably withheld, conditioned or delayed; provided that no such consent shall be required in connection with the formation of a Tax Blocker Subsidiary if the inability to transfer any applicable asset to such Tax Blocker Subsidiary would reasonably be expected to result in adverse tax consequences to the Borrower or the Servicer), as a “Tax Blocker Subsidiary” (which notice of designation will contain a description of the assets to be transferred to such subsidiary); provided that no Tax Blocker Subsidiary shall hold any assets other than in connection with the receipt of equity securities with respect to a Collateral Loan or Eligible Investments.

Tax Blocker Subsidiary means any wholly-owned subsidiary of the Borrower from time to time designated in writing by the Borrower as a “Tax Blocker Subsidiary”; provided that no Tax Blocker Subsidiary shall hold any assets other than in connection with the receipt of equity securities with respect to a Loan or Portfolio Asset.

Examples of Tax Blocker Subsidiary in a sentence

• The Value of any Tax Blocker Subsidiary shall be equal to the aggregate Value of the Portfolio Investments held by such Tax Blocker Subsidiary.

• Anything herein to the contrary notwithstanding, the term “Subsidiary” shall not include any Person that constitutes an Investment held by the Borrower, any Financing Subsidiary or any Tax Blocker Subsidiary in the ordinary course of business and that is not, under GAAP, consolidated on the financial statements of the Borrower and its Subsidiaries.

• Issue any additional Capital Stock that would result in a Change of Control or, in the case of the Company or a Tax Blocker Subsidiary (except for any Excluded Assets), which is not subject to the Lien of the Administrative Agent, for the benefit of the Lenders, pursuant to the Collateral Documents, or create, form or acquire any Subsidiary, except in compliance with Section 6.16.

• Anything herein to the contrary notwithstanding, none of the following shall be considered an “Affiliate” of the Borrower: any Person that constitutes an Investment held by the Borrower, any Financing Subsidiary or any Tax Blocker Subsidiary in the ordinary course of business and that is not, under GAAP, consolidated on the financial statements of the Borrower and its Subsidiaries.

More Definitions of Tax Blocker Subsidiary

Tax Blocker Subsidiary means any wholly-owned subsidiary of the Borrower from time to time designated in writing by the Borrower, and consented to by the Administrative Agent (not to be unreasonably withheld, conditioned or delayed; provided that no such consent shall be required in connection with the formation of a Tax Blocker Subsidiary if the inability to transfer any applicable asset to such Tax Blocker Subsidiary would reasonably be expected to result in material adverse tax consequences to the Borrower or the Servicer), as a “Tax Blocker Subsidiary” (which notice of designation will contain a description of the assets to be transferred to such subsidiary); provided that no Tax Blocker Subsidiary shall hold any assets other than in connection with the receipt of equity securities with respect to a Collateral Loan or Eligible Investments.

Tax Blocker Subsidiary means any wholly-owned Subsidiary of the Borrower from time to time designated in writing by the Borrower to the Administrative Agent as a “Tax Blocker Subsidiary”; provided that at no time shall such Tax Blocker Subsidiary hold any assets other than Portfolio Investments consisting of Equity Interests.

Tax Blocker Subsidiary has the meaning given to such term in the Revolving Credit Facility.

Tax Blocker Subsidiary means any wholly-owned, directly or indirectly, subsidiary of the Borrower from time to time designated in writing by the Borrower to the parties hereto, and consented to by the Administrative Agent (not to be unreasonably withheld,

Tax Blocker Subsidiary means each of FSEP Investments, Inc., EP Synergy Investments, Inc. and any other wholly-owned Subsidiary of the Company from time to time designated in writing by the Company to the Administrative Agent as a “Tax Blocker Subsidiary” hereunder, which Persons shall, for clarity, only own Equity Investments in accordance with the terms hereof.

Tax Blocker Subsidiary provided that at no time shall such Tax Blocker Subsidiary hold any assets other than Portfolio Investments consisting of Equity Interests.