Common use of Inactive Subsidiaries Clause in Contracts

Inactive Subsidiaries. No Inactive Subsidiary shall (a) acquire any assets, (b) incur any liabilities (whether to an Affiliate or otherwise) other than for franchise taxes, maintenance fees and other de minimus expenses or (c) engage in any active trade or business.

Inactive Subsidiaries. No Inactive Subsidiary shall is (a) acquire engaged in any assets, active business or (b) incur except as disclosed on Part B of Schedule 5.22, owns any property or assets or has incurred, directly or indirectly, liabilities (whether to an Affiliate or otherwise) other than for franchise taxes, maintenance fees and other de minimus expenses or (c) engage obligations in any active trade or businessexcess of $100,000 in the aggregate.

Inactive Subsidiaries. No Inactive Subsidiary shall (ai) acquire engages in any business or conducts any operations other than the provision of customer support and service and operations incidental thereto and to the ownership of Equity Interests in its Subsidiaries, (ii) owns assets, (b) incur any liabilities (whether to an Affiliate or otherwise) other than for franchise taxesEquity Interests in its Subsidiaries, maintenance fees and other de minimus expenses having a fair market value of more than $1,500,000 in the aggregate or (ciii) engage has any outstanding obligations or liabilities in respect of any active trade or businessIndebtedness for borrowed money.

Inactive Subsidiaries. No Inactive Subsidiary shall (a) acquire engages in any assetsbusiness or conducts any operations, (b) incur any liabilities (whether to an Affiliate or otherwise) other owns assets with a book value of more than for franchise taxes, maintenance fees and other de minimus expenses $10,000 in the aggregate or (c) engage is obligated to any Borrower or Guarantor in respect of any active trade indebtedness or businessliabilities.