Common use of Subsidiary Reference Clause in Contracts

Subsidiary Reference. Any reference herein to a Subsidiary of Borrower, and any financial definition, ratio, restriction or other provision of this Agreement which is stated to be applicable to Borrower and its Subsidiaries or which is to be determined on a "consolidated" or "consolidating" basis, shall apply only to the extent Borrower has any Subsidiaries, where applicable, to the extent any such Subsidiaries are consolidated with Borrower for financial reporting purposes. Any reference herein to an Unrestricted Subsidiary of Borrower or any of its Subsidiaries, and any restriction or other provision of this Agreement which is stated to be applicable to Borrower and its Subsidiaries and Unrestricted Subsidiaries or which is to be determined on a "consolidated" or "consolidating" basis, shall apply only to the extent Borrower has any such Unrestricted Subsidiaries, where applicable, to the extent any such Unrestricted Subsidiaries are consolidated with Borrower for financial reporting purposes; provided, however, that Unrestricted Subsidiaries shall not be consolidated with Borrower and its Subsidiaries for purposes of calculating the financial covenants set forth in Section 10.1(m) herein.