Dormant Entity definition

Dormant Entity means Grupo Rust International de Venezuela C.A.
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Dormant Entity means each Foreign Subsidiary existing as of the Closing Date for which all of the following conditions are and remain satisfied: (i) such existing Foreign Subsidiary is an Immaterial Subsidiary, (ii) such existing Foreign Subsidiary conducts no business and has de minimis assets and all filings and all other steps required under applicable law to signify and effect the dormancy of such Foreign Subsidiary have been timely filed and made and (iii) the Borrower has specifically identified such existing Foreign Subsidiary as a “Dormant Entity” and certified that the conditions set forth in this definition are satisfied with respect to such existing Foreign Subsidiary in a written notice provided to the Administrative Agent no later than November 30, 2010.
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Dormant Entity means each Foreign Subsidiary for which all of the following conditions are and remain satisfied: (i) such existing Foreign Subsidiary is an Immaterial Subsidiary and (ii) such existing Foreign Subsidiary conducts no business and has de minimis assets and all filings and all other steps required under applicable law to signify and effect the dormancy of such Foreign Subsidiary have been timely filed and made.
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Examples of Dormant Entity in a sentence

  • Not allow or permit any Dormant Entity to (i) have or hold any assets of any kind or nature other than the Capital Securities of another Loan Party, (ii) have or incur any liabilities, obligations or Debt of any kind other than incidental corporate maintenance items, incidental tax liabilities, or (iii) have any operations or employees.

  • None of the Dormant Entities (i) have or hold any assets of any kind or nature other than the Capital Securities of another Dormant Entity, (ii) have any liabilities, obligations or Debt of any kind other than incidental corporate maintenance items, incidental tax liabilities, or (iii) have any operations or employees.

  • Not allow or permit any Dormant Entity to (i) have or hold any assets of any kind or nature other than the Capital Securities of another Loan Party, (ii) have or incur any liabilities, obligations or Debt of any kind other than incidental corporate maintenance items, incidental tax liabilities, (iii) have any operations or employees, or (iv) merge with any Loan Party that is not a Dormant Entity unless such other Loan Party is the surviving entity.

  • The Dormant Entity has not conducted any business for at least three (3) years and does not have any Liabilities.

  • Neither Borrower nor any other Credit Party will: (a) become party to any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) or establish any contractual relationship with any Dormant Entity, (b) reinstate any Dormant Entity, or (c) purchase all or any portion of the Stock or other equity securities of any Dormant Entity.

  • Delaware 1,000 1,000 100% 1 Revlon International Corporation Europeenne de Produits de Beaute France 70,785 107,250 66% Uncertificated Revlon International Corporation REVLON BEAUTY PRODUCTS, S.L. Spain 4,305 6,523 66% Uncertificated Revlon International Corporation Revlon New Zealand Limited New Zealand 33,000 50,000 66% 1 Revlon Consumer Products Corporation Revlon New Zealand Limited New Zealand 0 50,000 0%2 N/A 1 Dormant Entity.

  • Delaware 1,000 1,000 100% 1 Revlon International Corporation Revlon New Zealand Limited New Zealand 33,000 50,000 66% [___]2 1 Dormant Entity.

  • If any Dormant Entity recommences any trading or conducts any business at any time during the term of this Agreement, the Borrower shall forthwith notify the Lender thereof.

  • For the avoidance of doubt, the Loan Parties may dissolve any Dormant Entity.

  • Delaware 1,000 1,000 100% 1 Revlon International Corporation Europeenne de Produits de Beaute France 70,785 107,250 66% Uncertificated Revlon International Corporation REVLON BEAUTY PRODUCTS, S.L. Spain 4,305 6,523 66% Uncertificated Revlon International Corporation Revlon New Zealand Limited New Zealand 33,000 50,000 66% 1 Revlon Consumer Products Corporation Revlon New Zealand Limited New Zealand 0 50,000 0%27 N/A 26 Dormant Entity.

Related to Dormant Entity

  • Dormant Subsidiary means a Subsidiary that owns assets in an amount equal to no more than $5,000,000 or is dormant or otherwise inactive.

  • Relevant Entity means Party A and, to the extent applicable, a guarantor under an Eligible Guarantee.

  • Relevant Entities means Party A and any guarantor under an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement.

  • SOX Compliant Entity means an entity that either is required to be compliant with, or voluntarily is compliant with, all of the following provisions of the Sarbanes-Oxley Act of 2002: (i) the preapproval requirements of Section 201 (Section 10A(i) of the Securities Exchange Act of 1934); (ii) the Audit committee independence requirements of Section 301 (Section 10A(m)(3) of the Securities Exchange Act of 1934); and (iii) the Internal control over financial reporting requirements of Section 404 (Item 308 of SEC Regulation S-K).

  • Dormant means a trader’s Account which had no Client-initiated activity for the past 180 days.