Additional Specified Subsidiaries Clause Samples
The "Additional Specified Subsidiaries" clause defines which subsidiaries, beyond those already named, are included for specific purposes under the agreement. This clause typically allows the parties to designate certain subsidiaries that will be subject to particular obligations, rights, or restrictions, such as guarantees, covenants, or reporting requirements. By clearly identifying these additional entities, the clause ensures that all relevant subsidiaries are appropriately covered, thereby preventing ambiguity and ensuring that the agreement’s provisions apply as intended to the correct group of companies.
Additional Specified Subsidiaries. Each of the Company and the Specified Subsidiaries shall cause any Subsidiary that (i) is not then a party to this Agreement and (ii) becomes, or otherwise satisfies the criteria of, a Specified Subsidiary, to promptly (and in any event, within five (5) Business Days) become party to this Agreement by executing and delivering to the Company a Specified Subsidiary Joinder Agreement in the form attached hereto as Annex A-2, and to agree to be bound and shall be bound by all the terms and conditions of this Agreement as a “Specified Subsidiary.” No later than one (1) Business Day following such execution, the Company shall deliver to each Sponsor Stockholder a notice thereof, together with a copy of such Specified Subsidiary Joinder Agreement.