Excluded Subsidiaries definition
Examples of Excluded Subsidiaries in a sentence
There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in liability of Borrower or any of its Subsidiaries (other than Excluded Subsidiaries) in excess of the Threshold Amount, individually or in the aggregate.
There is no proposed tax assessment against Borrower or any Subsidiary (other than Excluded Subsidiaries) that would, if made, have a Material Adverse Effect.
Neither Borrower nor any of its Subsidiaries (other than Excluded Subsidiaries) is in default under or with respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
Borrower and its Subsidiaries (other than Excluded Subsidiaries) conduct in the ordinary course of business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties.
Borrower and its Subsidiaries (other than Excluded Subsidiaries) have conducted their businesses in compliance in all material respects with all applicable Sanctions and have instituted and maintained policies and procedures designed to promote and achieve compliance with such Sanctions.