Examples of Captive Insurance Subsidiary in a sentence
Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of the Captive Insurance Subsidiary inures to the benefit of the Borrowers, and that each Borrower’s business derives substantial benefits from the business of the Captive Insurance Subsidiary.
To the extent that the Borrower or its Subsidiaries are permitted under this Agreement to incorporate or otherwise form new Subsidiaries, the Borrower agrees that such new Subsidiary shall be added as a Guarantor under this Agreement and the Guaranty, and shall execute such Guaranty; provided, however, that the Captive Insurance Subsidiary shall not be subject to this section.
The trial judge held that Microsoft’s decision to bundle or “integrate” Windows 98 and Internet Explorer did not derive from technical necessities or business efficiencies but was a deliberate and purposeful choice to suspend competition before it reached higher proportions.
The properties of the Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies (which shall include an Approved Captive Insurance Subsidiary) in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Subsidiary operates and as otherwise required by Section 6.07.
Section 1.01 of the Credit Agreement is hereby amended by replacing the text “(A) Margin Stock and (B)” in clause (vi) of the definition “Excluded Assets” with the text “(A) Margin Stock, (B) Equity Interests in any Captive Insurance Subsidiary and (C)”.