Exempt Subsidiary means any one of such entities.
Exempt Subsidiary means any Restricted Subsidiary that shall have had aggregate EBITDA of less than $250,000 for the period of the most recent four consecutive fiscal quarters for which internal financial statements are available ending prior to the date of the issuance or sale of its Capital Stock giving rise to such determination; provided, however, that such sale or issuance is pursuant to a plan or program for the sale or issuance of Capital Stock a majority of which is sold to local management or to local strategic investors.
Exempt Subsidiary has the meaning specified in Section 6.14.
Examples of Exempt Subsidiary in a sentence
The investment by Southern or NewCo in the Exempt Subsidiaries will take the form of capital stock or shares, debt securities, trust certificates, capital contributions, open account advances without interest and partnership interests or other equity or participation interests, bid bonds or other credit support to secure obligations incurred by NewCo and/or Intermediate Companies in connection with Exempt Subsidiary investments or of NewCo’s undertaking to contribute equity to an Intermediate Company.
More Definitions of Exempt Subsidiary
Exempt Subsidiary means Lockheed Xxxxxx Commercial Flight Training B.V. and its subsidiaries and any other entity of which the Company owns a sufficient number of securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other governing body that is designated as such pursuant to an Officer’s Certificate; provided that no such designation may be made unless, as of the end of the most recent fiscal quarter prior to such designation, the book value, net of depreciation and amortization and after intercompany eliminations, of the assets of such entity, when aggregated with the book values, net of depreciation and amortization and after intercompany eliminations, of the assets of all Exempt Subsidiaries, other than Lockheed Xxxxxx Commercial Flight Training B.V. and its subsidiaries, does not exceed 6% of the book value of the total assets of the Company and its Consolidated Subsidiaries. Exempt Subsidiary includes any direct or indirect subsidiary of an Exempt Subsidiary.
Exempt Subsidiary means a Subsidiary formed or acquired by a Credit Party after the Closing Date in connection with an Exempt Acquisition.
Exempt Subsidiary. Consolidated Subsidiary includes any Exempt Subsidiary.
Exempt Subsidiary means (a) a Tax Preferred Subsidiary or (b) an Inactive Subsidiary.
Exempt Subsidiary means any Subsidiary of Parent (other than Borrower) which directly or indirectly owns Capital Stock in any Group Member which owns a Material Real Estate Asset and the Capital Stock of such Group Member is pledged as Collateral to the Collateral Agents in accordance with the terms of and priorities set forth in the Credit Documents.
Exempt Subsidiary means Lockheed Martin Finance Corporation, Martin Marietta Materials, Inc. and any other entity of which Company owns a sufficient number of securities having ordinary voting power to elect a majority of the board of directors or other governing body, the book value, net of depreciation, amortization and intercompany eliminations, of the assets of which, when aggregated with the book values, net of depreciation, amortization and intercompany eliminations, of the assets of any other Exempt Subsidiary other than Lockheed Martin Finance Corporation or Martin Marietta Materials, Inc., do not exceed a specified percentage of the value of total assets of Company and its consolidated subsidiaries, and which are designated as such by Company.
Exempt Subsidiary means any Subsidiary (a) holding title to or beneficially owning assets in which Liens have been or are intended to be granted as security for Indebtedness of such Subsidiary, or that is a beneficial owner of a Subsidiary holding title to or beneficially owning such assets (but having no material assets other than such beneficial ownership interests) and (b) which (i) is, or is expected to be, prohibited from Guaranteeing the Indebtedness of any other Person pursuant to any document, instrument or agreement evidencing such Indebtedness or (ii) is prohibited from Guaranteeing the Indebtedness of any other Person pursuant to a provision of such Subsidiary’s organizational documents which provision was included in such Subsidiary’s organizational documents as a condition or anticipated condition to the extension of such Indebtedness.