{"component": "definition", "props": {"groups": [{"snippet": "means all of the following and \u201cExcluded Subsidiary\u201d means any of them:", "snippet_links": [{"key": "excluded-subsidiary", "type": "definition", "offset": [32, 51]}], "samples": [{"hash": "fVU2eVtwXR7", "uri": "/contracts/fVU2eVtwXR7#excluded-subsidiaries", "label": "Term Loan Credit Agreement (Alvotech)", "score": 37.2436676025, "published": true}, {"hash": "6F3vOf1Dmak", "uri": "/contracts/6F3vOf1Dmak#excluded-subsidiaries", "label": "Super Priority Credit Agreement (Alvotech)", "score": 37.2436676025, "published": true}, {"hash": "bwGMQQjB3uP", "uri": "/contracts/bwGMQQjB3uP#excluded-subsidiaries", "label": "Fifteenth Amendment to Credit Agreement (Life Time Group Holdings, Inc.)", "score": 36.6276512146, "published": true}], "size": 69, "hash": "db2c55e11d73b27d69271991c16aae5a", "id": 1}, {"snippet": "(a) any Immaterial Subsidiary, (b) any Foreign Subsidiary, (c) any Subsidiary that is not a Wholly Owned 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from providing a guaranty pursuant to the Guarantee and Collateral Agreement, or if such guaranty would require governmental (including regulatory) or third party consent, approval, license or authorization (except to the extent that such consent, approval, license or authorization has been obtained) and (i) any other Subsidiary with respect to which the Administrative Agent and the Borrower reasonably agree that the cost or other consequences of providing a guarantee of or granting Liens to secure the Obligations would be excessive in relation to the practical benefit to be afforded thereby.", "snippet_links": [{"key": "immaterial-subsidiary", "type": "clause", "offset": [8, 29]}, {"key": "foreign-subsidiary", "type": "clause", "offset": [39, 57]}, {"key": "of-the-borrower", "type": "clause", "offset": [116, 131]}, {"key": "provided-that", "type": "clause", "offset": [133, 146]}, {"key": "the-capital-stock", "type": "clause", "offset": [242, 259]}, {"key": "owned-by", "type": 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"type": "clause", "offset": [1590, 1605]}, {"key": "the-obligations", "type": "clause", "offset": [1606, 1621]}, {"key": "in-relation-to", "type": "clause", "offset": [1641, 1655]}], "samples": [{"hash": "aj8NHDGclRV", "uri": "/contracts/aj8NHDGclRV#excluded-subsidiaries", "label": "Credit Agreement (Advanced Drainage Systems, Inc.)", "score": 37.1560592651, "published": true}, {"hash": "5ryRsHTemky", "uri": "/contracts/5ryRsHTemky#excluded-subsidiaries", "label": "Credit Agreement (Advanced Drainage Systems, Inc.)", "score": 30.5797405243, "published": true}, {"hash": "6xfkUE14krm", "uri": "/contracts/6xfkUE14krm#excluded-subsidiaries", "label": "Credit Agreement (Advanced Drainage Systems, Inc.)", "score": 28.7440109253, "published": true}], "size": 63, "hash": "3e7a601163cabd7548423d316be82839", "id": 2}, {"snippet": "means, collectively: (i) any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Subsidiary\u2019s properties and assets subject or purported to be subject from time to time to a Lien under any Collateral Document and the Equity Interests in such Subsidiary to secure the Obligations (and any guaranty thereof) are validly prohibited by Requirements of Law; (ii) any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Subsidiary\u2019s properties and assets subject or purported to be subject from time to time to a Lien under any Collateral Document and the Equity Interests in such Subsidiary to secure the Obligations (and any guaranty thereof) require the consent, approval or waiver of any Governmental Authority or other third party (other than Parent or an Affiliate of Parent) and such consent, approval or waiver has not been obtained by Parent or such Subsidiary following Parent\u2019s and such Subsidiary\u2019s commercially reasonable efforts to obtain the same; (iii) any Subsidiary that is a non-Wholly-Owned Subsidiary, with respect to which, the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, the properties and assets of such non-Wholly-Owned Subsidiary, to secure the Obligations (and any guaranty thereof) are validly prohibited by, or would give any third party (other than Parent or an Affiliate of Parent) the right to terminate its obligations under, such non-Wholly-Owned Subsidiary\u2019s Operating Documents or the joint venture agreement or shareholder agreement with respect thereto or any other contract with such third party relating to such non-Wholly-Owned Subsidiary, including any contract evidencing Indebtedness of such non-Wholly-Owned Subsidiary (other than customary non-assignment provisions which are ineffective under Article 9 of the Code or other Requirements of Law), but only, in each case, to the extent, and for so long as such Operating Document, joint venture agreement, shareholder agreement or other contract is in effect; and (iv) any Immaterial Subsidiary.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [40, 55]}, {"key": "the-grant", "type": "clause", "offset": [62, 71]}, {"key": "the-collateral-agent", "type": "clause", "offset": [75, 95]}, {"key": "benefit-of-lenders", "type": "clause", "offset": [105, 123]}, {"key": "other-secured-parties", "type": "definition", "offset": [132, 153]}, {"key": "security-interest", "type": "definition", "offset": [160, 177]}, {"key": "the-pledge", "type": "definition", "offset": [200, 210]}, 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interest, which in each case is designated by the Parent as an \u201cExcluded Subsidiary\u201d on Schedule 5.13, and any other Person from time to time designated by the Parent as an \u201cExcluded Subsidiary;\u201d provided, that the Parent may not designate a Person as an \u201cExcluded Subsidiary\u201d if (a) the Investment made in such Person by the Borrowers and the Non-Borrower Subsidiaries, together with all Investments made in other Excluded Subsidiaries by the Borrowers and the Non-Borrower Subsidiaries, would exceed that permitted by Section 7.02(i), (b) such Person is required to be a guarantor of (i) any Permitted Subordinated Debt in excess of the Threshold Amount or (ii) any Indebtedness incurred pursuant to Section 7.03(j) in excess of the Threshold Amount, or (c) a Default or Event of Default exists or would result therefrom. For the avoidance of doubt, in the event that (x) the Parent causes any Excluded Subsidiary to be joined as a Borrower under this Agreement and the other Loan Documents in accordance with Section 6.20 hereof, such Subsidiary shall immediately cease to be an Excluded Subsidiary hereunder upon the effectiveness of such Subsidiary becoming a Borrower, and (y) the Parent designates a Borrower as an Excluded Subsidiary in accordance with this Agreement, such Borrower shall be released from its obligations under this Agreement and the other Loan Documents, the Liens securing such obligations shall be released, and any Equity Interests issued by such Excluded Subsidiary shall be released.", "snippet_links": [{"key": "de-minimis-subsidiary", "type": "definition", "offset": [35, 56]}, {"key": "joint-venture", "type": "definition", "offset": [67, 80]}, {"key": "fifty-percent", "type": "definition", "offset": [152, 165]}, {"key": "ownership-interest", "type": "clause", "offset": [178, 196]}, 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forth in its organizational documents, debt agreements or applicable law, (d) any Subsidiary prohibited by applicable law from becoming a Subsidiary Guarantor, (e) any joint venture Subsidiary to the extent its organizational documents prohibit it from becoming a Subsidiary Guarantor, (f) any FSHCO or Domestic Subsidiary of a Foreign Subsidiary (other than any such Domestic Subsidiary with respect to which each direct and indirect foreign parent entity is a Disregarded Entity), (g) each Restricted Subsidiary that is prohibited by any applicable Contractual Obligation or applicable law from becoming a Subsidiary Guarantor at the time such Subsidiary becomes a Restricted Subsidiary (and for so long as such restriction or any replacement or renewal thereof is in effect) or that would require consent, approval, license or authorization of a Governmental Authority to become a Subsidiary Guarantor at the time such Subsidiary becomes a Restricted Subsidiary (unless such consent, approval, license or authorization has been received), (h) each acquired Domestic Subsidiary in connection with which secured Permitted Acquired Debt exists and each Restricted Subsidiary thereof that guarantees such Debt to the extent and so long as the financing documentation relating to such Permitted Acquired Debt prohibits such acquired Domestic Subsidiary and/or its Restricted Subsidiaries from becoming a Subsidiary Guarantor, (i) any Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the cost or other consequences of causing such Subsidiary to become a Subsidiary Guarantor shall be excessive in view of the benefits to be obtained by the Lenders therefrom, and (j) each Unrestricted Subsidiary; provided that, in the case of clause (c), (d), (g), (h) or (i) if the relevant restriction merely limits the amount of any guarantee, then such Subsidiary shall not be an Excluded Subsidiary but its guarantee shall be appropriately limited to 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guaranteeing the Obligations is prohibited by such Secured Indebtedness), (b) any Subsidiary of an Excluded Subsidiary, (c) any Subsidiary that is not a Wholly-Owned Subsidiary of the Borrower, and is either acquired pursuant to an acquisition permitted hereunder or formed in a manner not expressly prohibited hereunder, and is prohibited by its organizational documents from giving a guaranty of the Obligations and (d) any Subsidiary of the Borrower organized in a jurisdiction other than the United States or any state thereof; provided that each such Subsidiary shall cease to be an Excluded Subsidiary hereunder if such Secured Indebtedness is repaid or becomes unsecured or if such Subsidiary ceases to guarantee such secured Indebtedness or if such Subsidiary ceases to be prohibited from giving a guaranty, as applicable.", "snippet_links": [{"key": "subsidiaries-of-the-borrower", "type": "clause", "offset": [10, 38]}, {"key": "on-schedule", "type": "definition", "offset": [46, 57]}, 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