BBI Subsidiary definition

BBI Subsidiary or a "Subsidiary" of BBI shall mean each corporation, savings bank, association, and other entity in which BBI owns or controls directly or indirectly 10% or more of the outstanding equity securities; provided, however, there shall not be included any such entity acquired in good faith through foreclosure, or any such entity to the extent that the equity securities of such entity are owned or controlled in a bona fide fiduciary capacity.
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Examples of BBI Subsidiary in a sentence

  • Except as set forth in Section 4.04 of the BBI Disclosure Schedule, no Governmental Approval is required to be obtained or made by or with respect to BBI or any BBI Subsidiary in connection with the execution and delivery of this Agreement or the consummation by BBI of the transactions contemplated hereby, except where the failure to obtain such Governmental Approval would not, individually or in the aggregate, have an BBI Material Adverse Effect.

  • No Governmental Approval is required to be obtained or made by or with respect to BBI or any BBI Subsidiary in connection with the execution and delivery of this Agreement or the consummation by BBI of the transactions contemplated hereby, except where the failure to obtain such Governmental Approval would not, individually or in the aggregate, have an BBI Material Adverse Effect.

  • From and after the date of this Agreement through the Effective Time, BBI and its Subsidiary may make such contributions to the ESOP as BBI and its Subsidiary shall reasonably determine to maximize repayment of the ESOP loan; provided, however, that all such contributions shall be deductible by BBI or the BBI Subsidiary under Section 404 of the Code and otherwise in compliance with Section 415 of the Code.