Permitted Additional Subsidiary definition

Permitted Additional Subsidiary means a subsidiary of the Borrower, the Investment Subsidiary that is formed with the express consent of the Blackstone Asset Based Finance Representative (which consent the Blackstone Asset Based Finance Representative may give, withhold or condition in its sole and absolute discretion).

Permitted Additional Subsidiary means a direct wholly owned Subsidiary of the Borrower that is formed with the express consent of the Administrative Agent (which consent the Administrative Agent may give, withhold or condition in its sole and absolute discretion). “Permitted Lien” means, with respect to the Collateral: (a) security interests, liens and other encumbrances created pursuant to the Transaction Documents; (b) with respect to agented Collateral Obligations, customary security interests, liens and other encumbrances in favor of the lead agent, the collateral agent or the paying agent on behalf of all holders of indebtedness of such obligor under the related facility; (c) Liens for Taxes if such Taxes shall not at the time be due and payable, a Person is contesting the validity thereof in good faith by appropriate proceedings and with respect to which reserves in accordance with GAAP have been provided on the books of such Person or the failure to pay such Taxes would not reasonably be expected to result in a Material Adverse Ef fect; (d) Liens imposed by law, such as bank’s, securities intermediary’s, materialmen’s, warehousemen’s, mechanics’, carriers’, workmen’s and repairmen’s Liens and other similar Liens, arising by operation of law in the ordinary course of business for sums that are not overdue or are being contested in good faith and (e) the restrictions on transferability (if any) imposed by any Underlying Instruments at the time of Acquisition or