Dormant Companies Sample Clauses
The Dormant Companies clause defines the status and treatment of companies that are not actively trading or conducting business. Typically, this clause outlines the criteria for a company to be considered dormant, such as having no significant accounting transactions during a financial period, and may specify reporting or compliance obligations that differ from those of active companies. Its core function is to clarify the legal and administrative requirements for dormant entities, thereby reducing unnecessary regulatory burdens and ensuring that only relevant obligations apply to inactive companies.
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Dormant Companies. Each of the entities listed in Part 1 of Schedule 18 (Dormant Subsidiaries) is a Dormant Subsidiary.
Dormant Companies. Each of the companies listed in Schedule 11 (Dormant Subsidiaries) does not trade (for itself or as agent for any person) and does not own, legally or beneficially, assets (including, without limitation, indebtedness owed to it) which in aggregate have a value of more than R1,000,000 (or its equivalent in other currencies).
Dormant Companies it will ensure that each of the Dormant Companies remains dormant and promptly notify the Agent of any proposal for any of such companies to recommence trading, which they shall not be permitted to do unless Ideal has received the prior written consent of the Agent;
Dormant Companies. There are no companies in the Vodafone Target Group which are dormant for accounting purposes.
Dormant Companies. (a) The Dormant Subsidiaries are dormant and do not carry on any trade.
(b) No member of the Target Group other than the Dormant Subsidiaries is dormant.
Dormant Companies. There are no Dormant Subsidiaries other than:
(a) BAL 1996 Limited; and
(b) ▇▇▇ Chemicals China Limited.
Dormant Companies. Except as set forth on Schedule 4.17, the Dormant Company does not own any material assets or have any outstanding Indebtedness or other material liabilities. The aggregate revenues and assets of the Dormant Company is less than 1% of the aggregate revenues and assets of the Parent and its Subsidiaries on a consolidated basis.
Dormant Companies. In respect of the Parent only, each company referred to in the definition of “Dormant Subsidiary” is a Dormant Subsidiary.
Dormant Companies procure that none of the companies listed in Part 2 of Schedule 16 ceases to be a Dormant Company, other than as a result of a liquidation of any such company which would not be an Event of Default, and do not acquire any assets which would make them a Material Company and do not assume any liabilities;
Dormant Companies. None of the Dormant Companies will commence trading or acquire any assets;