Immaterial Subsidiaries. The Borrower will, from time to time by written notice to the Administrative Agent, un-designate a sufficient number of Subsidiaries as Immaterial Subsidiaries, if and to the extent necessary, such that at all times all Immaterial Subsidiaries, collectively, do not comprise more than five percent (5%) of the Borrower’s Consolidated Total Assets or Consolidated EBITDA as of the end of or for the most recently ended Reference Period for which Financial Statements are available.
Appears in 3 contracts
Samples: Credit Agreement (Mimecast LTD), Credit Agreement (Virtusa Corp), Credit Agreement (Mimecast LTD)
Immaterial Subsidiaries. The Borrower will, from time to time by written notice to the Administrative Agent, un-designate a sufficient number of Subsidiaries as Immaterial Subsidiaries, if and to the extent necessary, such that at all times all Immaterial Subsidiaries, collectively, do not comprise more than five two percent (52%) of the Borrower’s Consolidated Total Assets consolidated assets or Consolidated EBITDA as of the end of or for the most recently ended Reference Period for which Financial Statements are availablePeriod.
Appears in 3 contracts
Samples: Credit Agreement (Progress Software Corp /Ma), Credit Agreement (Progress Software Corp /Ma), Credit Agreement (Progress Software Corp /Ma)
Immaterial Subsidiaries. The Borrower will, from time to time by written notice to the Administrative Agent, un-designate a sufficient number of Subsidiaries as Immaterial Subsidiaries, if and to the extent necessary, such that at all times all Immaterial Subsidiaries, collectively, do not comprise more than five percent (5%) of the Borrower’s Consolidated Total Assets consolidated assets or Consolidated EBITDA as of the end of or for the most recently ended Reference Period for which Financial Statements are availablePeriod.
Appears in 2 contracts
Samples: Credit Agreement (Progress Software Corp /Ma), Credit Agreement (Virtusa Corp)
Immaterial Subsidiaries. The Borrower will, from time to time by written notice to the Administrative Agent, un-designate a sufficient number of Subsidiaries as Immaterial Subsidiaries, if and to the extent necessary, such that at all times all Immaterial Subsidiaries, collectively, do not comprise more than five percent (5%) of the Borrower’s Consolidated Total Assets or Consolidated EBITDA as of the end of or for the most recently ended Reference Period for which Financial Statements are available.. 108
Appears in 1 contract
Samples: Credit Agreement (Virtusa Corp)
