Material Operating Subsidiary definition

Material Operating Subsidiary means an operating subsidiary whose net income represents 10% or more of the net income of the Corporation; and
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Material Operating Subsidiary means a Material Subsidiary other than a member of the Group that is a Material Subsidiary solely by virtue of its being a Holding Company of a Material Subsidiary or Obligor.
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Material Operating Subsidiary means a Subsidiary of a Credit Party that has assets constituting at least ten percent (10%) of total assets of the Parent on a Consolidated basis (but excluding any VIE) as of the end of the immediately preceding fiscal quarter for which the Parent has delivered financial statements pursuant to Section 9.1(b).
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Examples of Material Operating Subsidiary in a sentence

  • The Company and each Material Operating Subsidiary, after giving effect to the transactions contemplated hereby and by the other Loan Documents and the Intercompany Revolving Facilities, shall be Solvent and the Initial Lender shall have received a certificate from the chief financial officer of the Company to such effect.

  • Give notice to the Agent (which upon receipt shall give a copy thereof to the Banks) of the occurrence of any Subsidiary becoming a Material Operating Subsidiary concurrently with such occurrence.

  • In addition, each Material Operating Subsidiary that becomes a Material Operating Subsidiary after the date hereof shall, concurrently with becoming a Material Operating Subsidiary, execute and deliver to the Agent a Guaranty, in form and substance satisfactory to the Agent, and upon such execution and delivery, such Material Operating Subsidiary shall become a Guarantor under the Loan Documents.

  • Organize or invest in any new Material Operating Subsidiary or permit any existing Subsidiary to become a Material Operating Subsidiary unless such Subsidiary shall have executed and delivered a Guaranty and a Security Agreement supplement, each in form and substance satisfactory to the Agent, and shall have become a Guarantor and a Collateral Grantor under the Loan Documents.

  • If an Event of Default specified in Section 7.01(a)(ix) or Section 7.01(a)(x) with respect to the Company (and not solely with respect to a Material Operating Subsidiary) occurs and is continuing, the principal of all the Notes and accrued and unpaid interest shall be immediately due and payable.


More Definitions of Material Operating Subsidiary

Material Operating Subsidiary means each of Gimsa, Gruma Corp. and Molinera.
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Material Operating Subsidiary means each Subsidiary of the Core Borrowers which:
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Material Operating Subsidiary means each Subsidiary of the TXUA Parent (other than the Borrower) which, has not been designated as an Unrestricted Subsidiary and:
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Material Operating Subsidiary means an operating subsidiary whose net income
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Material Operating Subsidiary has the meaning given to it in the Deed of Common Terms as at the relevant time.
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Material Operating Subsidiary means an operating subsidiary whose net income represents 10% or more
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Material Operating Subsidiary means a “Material Operating Subsidiary” (or substantially similar term), as defined in the Company’s Credit Agreement.
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