Common use of Subsidiary Borrower Clause in Contracts

Subsidiary Borrower. The Borrower will not cease to own, directly or indirectly, and Control 100% (other than directors' qualifying shares) of the ordinary voting power of the Subsidiary Borrower.

Appears in 2 contracts

Sources: Credit Agreement (Lydall Inc /De/), Credit Agreement (Lydall Inc /De/)

Subsidiary Borrower. The Borrower will not cease to own, directly or indirectly, and Control 100% (other than directors' ’ qualifying shares) of the ordinary voting power of the Subsidiary Borrower.

Appears in 1 contract

Sources: Credit Agreement (Lydall Inc /De/)