Examples of Unrestricted Entities in a sentence
The Obligors shall not create any additional Subsidiaries (other than Unrestricted Entities) that do not become Guarantors hereunder.
For purposes of the financial terms set forth herein, including, without limitation, for all purposes under Article IX, whenever a reference is made to a determination which is required to be made on a consolidated basis (whether in accordance with GAAP or otherwise) for Company and its Subsidiaries, such determination shall be made as if all Unrestricted Entities were wholly-owned by a Person not an Affiliate of Company.
No Obligor will allow any material change to be made in the character of its business as an owner or operator of a private natural gas gathering systems company and as an owner of Unrestricted Entities.
Each Obligor will, and will cause each of its Subsidiaries (other than Unrestricted Entities) to, maintain proper books of record and account in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over each Obligor or such Subsidiary, as the case may be.
The Obligors shall be permitted to remove an entity from its qualification as an Unrestricted Entity at any time by giving written notice to the holders and thereafter all provisions hereunder with respect to the Subsidiaries of the Obligors (other than provisions specifically relating to Unrestricted Entities) shall apply to such entity in the event such entity is a Subsidiary of an Obligor.