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Common use of Immaterial Subsidiary Clause in Contracts

Immaterial Subsidiary. Each Immaterial Subsidiary, whether --------------------- individually or in the aggregate, do not own any material assets and do not engage in any business activity whatsoever.

Appears in 2 contracts

Sources: Loan and Security Agreement (System Software Associates Inc), Loan and Security Agreement (System Software Associates Inc)

Related Clauses

  • Immaterial Subsidiaries
  • Material Subsidiary
  • Exclusion of Immaterial Subsidiaries
  • Domestic Subsidiaries
  • any Subsidiary of an Unrestricted Subsidiary

Parent Clauses

  • NEGATIVE COVENANTS
  • REPRESENTATIONS AND WARRANTIES
  • AFFIRMATIVE COVENANTS
  • Covenants and Continuing Agreements
  • Representations, Warranties and Agreements

Sub-Clauses

  • The Lender Group’s Liability for Collateral
  • Remedies Cumulative
  • Indemnification
  • Rights and Remedies
  • Demand; Protest; etc
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