Eligible Subsidiaries Sample Clauses

Eligible Subsidiaries. Each Subsidiary of the Borrowers which owns or ground-leases any Property that is treated as Unencumbered Property, Unencumbered Construction-in-Process or Unencumbered Eligible Land under this Credit Agreement is either an Eligible Subsidiary or a Guarantor. Schedule 6.25 sets forth a list of all Eligible Subsidiaries which own or ground-lease any Property that is treated as Unencumbered Property, Unencumbered Construction-in-Process or Unencumbered Eligible Land under this Credit Agreement as of the Closing Date. Schedule 6.25 shall be updated as of the end of each fiscal quarter as set forth in Section 7.1(c).

Eligible Subsidiaries. (a) The Company may --------------------- from time to time cause any wholly-owned Consolidated Subsidiary to become an Eligible Subsidiary eligible to borrow Loans and to have Letters of Credit issued for its account hereunder by delivering to the Administrative Agent an Election to Participate, substantially in the form of Exhibit I hereto, with respect to such Subsidiary. (b) Such Election to Participate shall be given no less than four (4) Business Days prior to the date on which such Subsidiary is to become an Eligible Subsidiary, if such Subsidiary is a Domestic Subsidiary, and otherwise shall be given no less than ten (10) Business Days prior to the date on which Subsidiary is to become an Eligible Subsidiary. (c) If applicable law (including any regulations promulgated under any applicable statute) obligates the Administrative Agent or any Bank to comply with "know your customer" or similar identification procedures in connection with the designation of such Eligible Subsidiary, the Company shall, promptly upon the request of the Administrative Agent or such Bank, supply such documentation and other evidence as is reasonably requested by the Administrative Agent or any Bank in order to permit the Administrative Agent or such Bank to be satisfied in its reasonable judgment that it has complied with the requirements of such law or regulations. (d) The eligibility of any such Subsidiary as an Eligible Subsidiary shall terminate when the Administrative Agent receives an Election to Terminate, substantially in the form of Exhibit J hereto, with respect to such Subsidiary. Each Election to Participate delivered to the Administrative Agent shall be duly executed on behalf of the relevant Subsidiary and the Company, and each Election to Terminate delivered to the Administrative Agent shall be duly executed on behalf of the Company, in such number of copies as the Administrative Agent may request. The delivery of an Election to Terminate shall not affect any obligation of the relevant Subsidiary theretofore incurred but on and after the effective date of such Election to Terminate such Subsidiary shall have no liability hereunder other than with respect to Loans made to such Subsidiary and Letters of Credit issued for the account of such Subsidiary prior to such date. The Administrative Agent shall promptly give notice to the Banks and the Issuing Banks of its receipt of any Election to Participate or Election to Terminate. (e) The provisions of clauses (b)...

Eligible Subsidiaries. The Company may from time to time cause any Wholly-Owned Consolidated Subsidiary (or, with the consent of the Required Banks, any other Subsidiary) to become eligible to borrow under Sections 2.01, 2.03 and 2.04 or to have Letters of Credit issued for its account under Section 2.17 by delivering to the Agent an Election to Participate with respect to such Subsidiary and by causing such Subsidiary to become a Guarantor under the Guarantee Agreement and a Grantor under the Pledge Agreement and by causing the owner of Equity Interests in such Subsidiary to become a Grantor under the Pledge Agreement. The eligibility of any such Subsidiary to borrow or to have Letters of Credit issued for its account under said Sections shall terminate when the Agent receives a Notice of Termination with respect to such Subsidiary. Each Election to Participate delivered to the Agent shall be duly executed on behalf of the relevant Subsidiary and the Company, and each Election to Terminate delivered to the Agent shall be duly executed on behalf of the Company, in such number of copies as the Agent may request. The delivery of an Election to Terminate shall not affect any obligation of the relevant Subsidiary theretofore incurred. The Agent shall promptly give notice to the Banks and the Issuing Bank of its receipt of any Election to Participate or Election to Terminate.

Eligible Subsidiaries. Each Subsidiary of the Borrowers which owns or ground-leases any Property that is treated as Unencumbered Property, Unencumbered Construction-in-Process or Unencumbered Eligible Land under this Agreement is either an Eligible Subsidiary or a Guarantor. Schedule 6.25 sets forth a list of all Eligible Subsidiaries which own or ground-lease any Property that is treated as Unencumbered Property, Unencumbered Construction-in-Process or Unencumbered Eligible Land under this Agreement as of the Closing Date (after giving pro-forma effect to the Acquisition). Schedule 6.25 shall be updated as of the end of each fiscal quarter as set forth in Section 7.1(c).

Eligible Subsidiaries. Digital Angel Technology Corporation, a Minnesota corporation Fearing Manufacturing Co., Inc., a Minnesota corporation Digital Angel International, a Minnesota corporation

Eligible Subsidiaries. Cause each Eligible Subsidiary to comply in all respects with the same requirements as are imposed upon the Borrower in Sections 9.1, 9.2, 9.3, 9.5, 9.6, and 9.8 of this Agreement.

Eligible Subsidiaries. (a) Any Substantially Wholly-Owned Consolidated Subsidiary may become an Eligible Subsidiary either (i) by signing this Agreement as originally executed or (ii) by signing and delivering to the Administrative Agent an Election to Participate duly executed by such Subsidiary and by the Company in such number of copies as the Administrative Agent shall request. (b) Any Eligible Subsidiary shall cease to be an Eligible Subsidiary upon receipt by the Administrative Agent of an Election to Terminate duly executed by such Subsidiary and by the Company in such number of copies as the Administrative Agent shall request. The delivery of an Election to Terminate to the Administrative Agent shall not affect any obligation of such Subsidiary theretofore incurred by such Subsidiary under this Agreement, its Notes or its Yen Notes. (c) Promptly upon receiving any such Election to Participate or Election to Terminate, the Administrative Agent shall notify the Yen Administrative Agent and each Lender thereof.

Eligible Subsidiaries. 53 6.26 Foreign Assets Control Regulations, Etc..............................................53

Eligible Subsidiaries. The Company may from time to time cause any Wholly-Owned Consolidated Subsidiary to become eligible to borrow under Sections 2.01 and 2.03 by delivering to the Agent an Election to Participate with respect to such Subsidiary. The eligibility of any such Subsidiary to borrow under said Sections shall terminate when the Agent receives an Election to Terminate with respect to such Subsidiary. Each Election to Participate delivered to the Agent shall be duly executed on behalf of the relevant Subsidiary and the Company, and each Election to Terminate delivered to the Agent shall be duly executed on behalf of the Company, in such number of copies as the Agent may request. The delivery of an Election to Terminate shall not affect any obligation of the relevant Subsidiary theretofore incurred. The Agent shall promptly give notice to the Banks of its receipt of any Election to Participate or Election to Terminate.