Concession Subsidiary definition
Concession Subsidiary means a subsidiary of the Company formed for the purpose of applying for, and holding, a license from the Mexican Government to provide satellite transmission services directly to end-users.
Concession Subsidiary. ’ means any Subsidiary of Sanef which, as ‘concessionaire’’, becomes a party to any Concession Agreements or enters into any agreement of a similar nature to such Concession Agreements and whose gross assets or gross revenues (on a consolidated basis) equal or exceed 10 per cent. of the Guarantor’s gross assets or gross revenues (on a consolidated basis), as the case may be;