Definition of “Significant Subsidiary Clause Samples

The "Definition of 'Significant Subsidiary'" clause establishes the specific criteria used to determine which subsidiaries of a company are considered significant for the purposes of the agreement. Typically, this involves setting quantitative thresholds based on factors such as the subsidiary's assets, revenues, or income relative to the parent company. For example, a subsidiary might be deemed significant if it accounts for more than a certain percentage of the consolidated assets or earnings. This clause ensures clarity and consistency in identifying which subsidiaries are subject to particular obligations or reporting requirements, thereby reducing ambiguity and potential disputes over the scope of the agreement.
Definition of “Significant Subsidiary. The definition of “Significant Subsidiary” in Schedule B of the Existing Note Agreement is hereby amended and restated in its entirety to read as follows:
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Definition of “Significant Subsidiary. Section 1.01 of the Indenture is amended by deleting the text of the definition of “Significant Subsidiary” in its entirety and replacing it with the following:
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Related to Definition of “Significant Subsidiary

  • Significant Subsidiary The term “

  • Significant Subsidiaries So long as no Default or Event of Default then exists or arises as a result thereof, the Borrower may from time to time by written notice delivered to the Administrative Agent: (a) designate any Subsidiary as a Significant Subsidiary; and (b) with respect to any Designated Significant Subsidiary, revoke its designation as a Significant Subsidiary; provided that the assets of such Designated Significant Subsidiary could have been disposed of pursuant to the provisions of Section 7.4 if such transaction were treated as a Disposition of the assets of such Designated Significant Subsidiary.

  • Acquisition of Significant Share Ownership There is filed, or is required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G) required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the Company’s voting securities, but this clause (ii) shall not apply to beneficial ownership of Company voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities;

  • Organization, Authority and Significant Subsidiaries The Company has been duly incorporated and is validly existing and in good standing under the laws of its jurisdiction of organization, with the necessary power and authority to own, operate and lease its properties and conduct its business as it is being currently conducted, and except as has not, individually or in the aggregate, had and would not reasonably be expected to have a Company Material Adverse Effect, has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification; each subsidiary of the Company that would be considered a “significant subsidiary” within the meaning of Rule 1-02(w) of Regulation S-X under the Securities Act of 1933 (the “Securities Act”), has been duly organized and is validly existing in good standing under the laws of its jurisdiction of organization. The Charter and bylaws of the Company, copies of which have been provided to Treasury prior to the Signing Date, are true, complete and correct copies of such documents as in full force and effect as of the Signing Date and as of the Closing Date.

  • Definition of Affiliate The term “Affiliate” shall mean an entity that is directly or indirectly owned, operated, or controlled by another entity.