Common use of Dormant Subsidiaries Clause in Contracts

Dormant Subsidiaries. No Obligor shall (and the Borrower shall ensure no other Group Company will) cause or permit any Dormant Subsidiary that is: (a) a Minority Group Company; and (b) a Charged Group Company, to commence trading or cease to satisfy the criteria for a Dormant Subsidiary, unless a Minority Shareholder Waiver Letter has been entered into in relation to such Dormant Subsidiary.

Dormant Subsidiaries. No Obligor shall (and the Borrower Issuer shall ensure no other Group Company will) cause or permit any Dormant Subsidiary that is: (a) a Minority Group Company; and (b) a Charged Group Company, to commence trading or cease to satisfy the criteria for a Dormant Subsidiary, unless a Minority Shareholder Waiver Letter has been entered into in relation to such Dormant Subsidiary.