Common use of Immaterial Subsidiary Clause in Contracts

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.