Eligible Subsidiary definition

Eligible Subsidiary means each Subsidiary of the Parent set forth on Exhibit A hereto, as the same may be updated from time to time with Laurus’ written consent.

Eligible Subsidiary means (a) any Subsidiary of the Borrower that is both a Material Subsidiary and a Domestic Subsidiary or (b) any other Subsidiary that becomes a Guarantor pursuant to Section 6.12(b).

Eligible Subsidiary means each of the Company’s Subsidiaries, except as the Administrator otherwise specifies.

Examples of Eligible Subsidiary in a sentence

• After the Effective Date, the Company may at any time and from time to time designate any Eligible Subsidiary as a Subsidiary Borrower by delivery to the Administrative Agent of a Borrowing Subsidiary Agreement executed by such Subsidiary and the Company and the satisfaction of the other conditions precedent set forth in Section 4.03, and upon such delivery and satisfaction such Subsidiary shall for all purposes of this Agreement be a Subsidiary Borrower and a party to this Agreement.

• To the extent approved by the Administrator (either specifically or pursuant to rules adopted by the Administrator), the active employer-employee or other active service-providing relationship between the Participant and the Company or an Eligible Subsidiary shall not be considered interrupted in the case of: (i) sick leave; (ii) military leave; or (iii) any other leave of absence.

• Thereafter, such Eligible Subsidiary will be a Subsidiary Guarantor with respect to the Notes until such Eligible Subsidiary’s Subsidiary Guarantee with respect to the Notes is released in accordance with this Indenture.

• For purposes of Awards granted under this Plan, the Administrator shall have sole discretion to determine whether a Participant has ceased to be actively employed by (or, in the case of a Consultant or Director, has ceased actively providing services to) the Company or Eligible Subsidiary, and the effective date on which such active employment (or active service-providing relationship) terminated.

• The Administrator may also grant Awards in conversion or replacement of or substitution for options or other equity awards or interests held by individuals who become Employees of the Company or of an Eligible Subsidiary as a result of the Company’s acquiring or merging with the individual’s employer.

More Definitions of Eligible Subsidiary

Eligible Subsidiary means any Subsidiary that is approved from time to time by the Administrative Agent and each of the Lenders.

Eligible Subsidiary means any of the wholly-owned Subsidiaries of the Company.

Eligible Subsidiary means any Subsidiary that is approved from time to time by the Administrative Agent and each of the Lenders, such approval not to be unreasonably withheld or delayed.

Eligible Subsidiary means any Subsidiary of the Borrowers which has no Recourse Indebtedness and has not provided a guaranty of any other Funded Debt of the Borrowers.

Eligible Subsidiary means (a) all existing and future Subsidiaries of the Parent Guarantor (other than Excluded Subsidiaries) and (b) each Subsidiary of the Parent Guarantor (other than an Excluded Subsidiary) that owns, directly or indirectly, any Equity Interests in any Subsidiary described in clause (a).

Eligible Subsidiary means any Subsidiary of the Company as to which an Election to Participate shall have been delivered to the Agents and as to which an Election to Terminate shall not have been delivered to the Agents. Each such Election to Participate and Election to Terminate shall be duly executed on behalf of such Subsidiary and the Company. The delivery of an Election to Terminate with respect to an Eligible Subsidiary shall not affect any obligation of such Eligible Subsidiary theretofore incurred. The Administrative Agent shall promptly give notice to the Lenders of the receipt of any Election to Participate or Election to Terminate.

Eligible Subsidiary means any Wholly-Owned Consolidated Subsidiary of the Company as to which an Election to Participate shall have been delivered to the Agent and as to which an Election to Terminate shall not have been delivered to the Agent. Each such Election to Participate and Election to Terminate shall be duly executed on behalf of such Wholly-Owned Consolidated Subsidiary and the Company in such number of copies as the Agent may request. The delivery of an Election to Terminate shall not affect any obligation of an Eligible Subsidiary theretofore incurred. The Agent shall promptly give notice to the Banks of the receipt of any Election to Participate or Election to Terminate.