Direct Subsidiary definition

Direct Subsidiary means the first Material Operating Subsidiary entity below the Corporation in a corporate ownership chain that has an audit committee which is comprised of a majority of independent directors.

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Direct Subsidiary means, with respect to any Person, any Subsidiary directly owned by such Person.

Direct Subsidiary means any Material Operating Subsidiary that is directly owned by the Corporation and that has an audit committee which is comprised of a majority of independent directors.

Examples of Direct Subsidiary in a sentence

• In the case of any Restricted Sale of Iusacell Celular or any other Special Restricted Subsidiary as a result of which the Company receives Net Cash Proceeds, 50% of such Net Cash Proceeds shall be applied by the Company, within 180 days of receipt thereof, either (x) to redeem or repurchase for cancellation the Notes in accordance with Article V or (y) by the Company to invest in a Permitted Business conducted by it or by any Wholly Owned Direct Subsidiary at the time of the Restricted Sale.

• Any such Wholly Owned Direct Subsidiary that is not a Special Restricted Subsidiary as of the date of such investment shall thereafter be considered a Special Restricted Subsidiary.

• Indirect Subsidiary Common stock, $0.01 par value per share WWF Operating Company Corporation WWF Operating Company Direct Subsidiary Common stock, $1.00 par value per share Prior to the Initial Funding Date, ▇▇▇▇ Foods.

• The transactions described in this Section 1.1 will be effected in such manner that (a) Newco will own all of the Foreign Subsidiary Shares, (b) Newco will have no other assets or liabilities (other than its initial 25,000 Euro cash capitalization) and (c) STEAG will own 100% of the issued and outstanding capital stock of Newco (the "Newco Shares" and, together with the Direct Subsidiary Shares, the "STEAG Shares").

• The Pledged Equity Interests of such Obligor represent 65% of the aggregate capital stock and other equity interests held by such Obligor of any Person that is a Direct Subsidiary (other than any Excluded Subsidiary) and is a Foreign Subsidiary.

More Definitions of Direct Subsidiary

Direct Subsidiary means any corporation of which a Participating Employer owns at least eighty percent (80%) of the total combined voting power of all classes of its stock entitled to vote.

Direct Subsidiary means, with respect to any Person, any Subsidiary directly owned by such Person. “Dollars” and the sign “$” each means lawful money of the United States.

Direct Subsidiary means, with respect to each Obligor, any Subsidiary of such Obligor whose capital stock or other equity interests are owned directly by such Obligor.

Direct Subsidiary means a subsidiary within the meaning of section 5(1)(a) of the Companies Act.

Direct Subsidiary means a Subsidiary in which the shares are owned of record by the Borrower.

Direct Subsidiary shall refer to any corporation whose shares are owned in at least ninety-nine percent (99%) by another corporation than the one to which this term refers.

Direct Subsidiary means any corporation of which a Participating Company owns at least eighty percent (80%) of the total combined voting power of all classes of its stock entitled to vote.