Inactive Subsidiaries definition

Inactive Subsidiaries means those Subsidiaries of the Borrower listed on Schedule 1.01.

Inactive Subsidiaries has the meaning assigned to such term in Section 3.02(f) of this Agreement.

Inactive Subsidiaries means collectively, each of the Subsidiaries of the Borrower that have a book value of less than $3 million as of the date hereof and that are not engaged in active business as of the date hereof and that are identified as an “Inactive Subsidiary” on Schedule 1.01(a) hereto; provided, however, if after the date hereof, any such Subsidiary has a book value of $3 million or more, or engages in active business, such Subsidiary shall no longer be deemed an “Inactive Subsidiary.”

Examples of Inactive Subsidiaries in a sentence

• Maintain its and all its Subsidiaries’ (other than the Inactive Subsidiaries) legal existence and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrower’s business or operations.

• The Inactive Subsidiaries do not own any assets or have any liabilities and are not engaged in any business or commercial activities, do not own any assets with a book value of more than $10,000 in the aggregate and are not obligated or liable, directly or indirectly, contingently or otherwise, in respect of any Indebtedness or other obligations.

• The Inactive Subsidiaries do not engage in any business or activity of any kind and no Inactive Subsidiary owns assets having a total book value in excess of $250,000 in the aggregate (other than intercompany receivables reflected on the books of such Inactive Subsidiaries as to which no cash has been or will be paid by the Borrowers or any Subsidiary to such Inactive Subsidiaries).

• The Inactive Subsidiaries included Suntech R&D and Rietech Investments, which the appellant had allowed to be de-registered (in the case of Suntech R&D) and struck off (in the case of Rietech Investments) in breach of the Mareva injunction (see [32] above).

• Furthermore and except as otherwise approved in writing by the Lender, the Borrower shall, and shall cause each of its Subsidiaries (except Inactive Subsidiaries) to, pledge all of the Stock and Stock Equivalents of each of its Subsidiaries to the Agent for the benefit of the Agent and the Lender, to secure the Obligations, in each case pursuant to documents in form and substance reasonably satisfactory to the Agent.

More Definitions of Inactive Subsidiaries

Inactive Subsidiaries means each of the Subsidiaries of the Borrower designated by the Borrower as an inactive subsidiary on Schedule 5.13 attached hereto as of the Effective Time and from time to time after the Effective Time.

Inactive Subsidiaries means the Subsidiaries of Holdings identified on Schedule 1.1(c).

Inactive Subsidiaries means WNC Receivables Management Corp., WNC Receivables, LLC, Wabash Financing LLC, FTSI Distribution Company, LP, National Trailer Funding, L.L.C., Wabash National Manufacturing, L.P., Wabash National Services, L.P., Cloud Oak Flooring Company, Inc., Continental Transit Corporation and Garsite/Progress LLC.

Inactive Subsidiaries means any Restricted Subsidiary of Holdings that, as of the end of the most recently ended Test Period, does not have (a) revenues for the Test Period in excess of $100,000 or (b) assets for the Test Period in excess of $250,000.

Inactive Subsidiaries means Cast Alloys, Inc., Xxxxxxx Corporation, Peerless Corporation and Xxxxxx Corporation, Ashland Manufacturing Facility.

Inactive Subsidiaries the Subsidiaries listed on Part A of Schedule 5.22.

Inactive Subsidiaries means the following Subsidiaries: ECG Properties Inc., Envoy Securities Corp., and Orbis Pharma Inc.