Immaterial Subsidiary Clause Samples

Immaterial Subsidiary. Each Loan Party will not permit any Immaterial Subsidiary to (a) own any assets, (b) have any liabilities, or (c) engage in any business activity.

Immaterial Subsidiary. Borrowers will not permit ▇▇▇▇▇ Mart Air, Inc. and its successors and assigns 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 other than in its capacity as owner of a fractional interest in an aircraft pursuant to a program agreement with NetJets or similar aircraft provider.

Immaterial Subsidiary. Any Subsidiary of the Borrower which does not --------------------- conduct any substantial revenue producing business and has assets with an aggregate value of less than $1,000,000, provided that the assets of all -------- Immaterial Subsidiaries shall not exceed $5,000,000 in the aggregate and no Subsidiary which is, or is required to be a guarantor under the Senior Notes Indenture shall constitute an Immaterial Subsidiary.

Immaterial Subsidiary. None of the Immaterial Subsidiaries (a) owns any assets, (b) have any liabilities, and (c) engage in any business activity.

Immaterial Subsidiary. Permit any Immaterial Subsidiary, whether --------------------- individually or in the aggregate, to (a) own any material assets, or (b) engage in any business activity whatsoever.

Immaterial Subsidiary. The Immaterial Subsidiary does not (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.

Immaterial Subsidiary. Each Subsidiary that has not complied with the requirements set forth in Section 5.14 of this Agreement is an Immaterial Subsidiary.

Immaterial Subsidiary. Definition Definition of Immaterial Subsidiary to be set forth in the definitive documentation with thresholds to be agreed

Immaterial Subsidiary. As of any date, a Subsidiary of Ryder whose results of operations, considered alone or in the aggregate with other Subsidiaries treated as Immaterial Subsidiaries, do not have a material effect on the business, consolidated financial position or consolidated results of operations of Ryder and its Consolidated Subsidiaries, taken as a whole.