Unrestricted Group definition
Examples of Unrestricted Group in a sentence
That Designation shall only be permitted if the Investment would be permitted at that time and if the Restricted Group Member otherwise meets the definition of an Unrestricted Group Member.
The Lenders shall have received a satisfactory business plan and analysis for the Parent (excluding the Unrestricted Group) for fiscal years 2003-2010.
The Lenders shall have received the pro forma Balance Sheet of each of the Parent and its Subsidiaries (excluding the Unrestricted Group) as at the date of the most recent consolidated balance sheet delivered pursuant to Section 5.1(c), adjusted to give effect to the consummation of the Transactions and the financings contemplated hereby as if such transactions had occurred on such date.
The Board of Directors may redesignate any Unrestricted Group Member to be a Restricted Group Member (a “Redesignation”) if the Redesignation would not cause a Default and if all Liens and Debt of such Unrestricted Group Member outstanding immediately following such Redesignation would, if incurred at that time, have been permitted to be incurred for all purposes of this Indenture.
If, at any time, any Unrestricted Group Member would fail to meet the preceding requirements as an Unrestricted Group Member, it shall thereafter cease to be an Unrestricted Group Member for purposes of this Indenture, and any Debt of such Person shall be deemed to be incurred by a Restricted Group Member as of such date and, if such Debt is not permitted to be incurred as of such date under Section 4.06 hereto, the Parent Guarantor shall be in default of such provision.
The Board of Directors may redesignate any Unrestricted Group Member to be a Restricted Group Member (a "Redesignation") if the Redesignation would not cause a Default and if all Liens and Debt of such Unrestricted Group Member outstanding immediately following such Redesignation would, if incurred at that time, have been permitted to be incurred for all purposes of this Indenture.
In the event that any member of the Nexus Unrestricted Group is designated an Unrestricted Subsidiary prior to the consummation of the Nexus Acquisition, but the Nexus Acquisition is consummated pursuant to the Nexus Restricted Structure Transaction, then upon the date of the Nexus Acquisition, such Persons shall automatically be redesignated as Restricted Subsidiaries.
No Subsidiary, other than a member of the Nexus Unrestricted Group, that is a Restricted Subsidiary on the Closing Date may be designated as an Unrestricted Subsidiary at any time.
If, at any time, any Unrestricted Group Member would fail to meet the preceding requirements as an Unrestricted Group Member, it shall thereafter cease to be an Unrestricted Group Member for purposes of this Indenture, and any Debt of such Person shall be deemed to be incurred by a Restricted Group Member as of such date and, if such Debt is not permitted to be incurred as of such date under Section 4.06 hereto, the Guarantor shall be in default of such provision.
If a Restricted Group Member is designated as an Unrestricted Group Member, the Fair Market Value of the Guarantor's interest in the Subsidiary or Non-Subsidiary Affiliate so designated shall be deemed to be an Investment made as of the time of the Designation and shall reduce without duplication the amounts available for Restricted Payments under Section 4.07(b) and/or the amount available for Permitted Investments, as determined by the Guarantor.