Common use of Immaterial Subsidiaries Clause in Contracts

Immaterial Subsidiaries. Each Loan Party will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.

Appears in 9 contracts

Sources: Credit Agreement (GoPro, Inc.), Forbearance Agreement and Amendment (Salem Media Group, Inc. /De/), Credit Agreement (GoPro, Inc.)

Immaterial Subsidiaries. Each No Loan Party will not may permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.

Appears in 4 contracts

Sources: Credit Agreement (Hudson Technologies Inc /Ny), Credit Agreement (Hudson Technologies Inc /Ny), Credit Agreement (Hudson Technologies Inc /Ny)

Immaterial Subsidiaries. Each Loan Party will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activityactivity (other than business activity of a de minimis nature).

Appears in 2 contracts

Sources: Credit Agreement (Insteel Industries Inc), Credit Agreement (Insteel Industries Inc)

Immaterial Subsidiaries. Each The Loan Party will Parties shall not permit any the Immaterial Subsidiary Subsidiaries to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.

Appears in 1 contract

Sources: Financing Agreement (Hc2 Holdings, Inc.)

Immaterial Subsidiaries. Each Loan Party Parties will not permit any Immaterial Subsidiary to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any business activity.

Appears in 1 contract

Sources: Term Loan Agreement (Us Xpress Enterprises Inc)

Immaterial Subsidiaries. Each Loan No Credit Party will not permit any of its Immaterial Subsidiary Subsidiaries to (a) own any assets (other than assets of a de minimis nature), (b) have any liabilities (other than liabilities of a de minimis nature), or (c) engage in any material business activity.

Appears in 1 contract

Sources: Credit Agreement (La-Z-Boy Inc)