Inactive Entity definition

Inactive Entity means each entity listed on Schedule 4.31.
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Inactive Entity means each entity listed on Schedule 4.31. "Indebtedness", as applied to any Person, means without duplication: (a) all indebtedness for borrowed money; (b) obligations under leases which in accordance with GAAP constitute Capital Leases; (c) notes payable and drafts accepted representing extensions of credit whether or not representing obligations for borrowed money; (d) any obligation owed for all or any part of the deferred purchase price of property or services if the purchase price is due more than six (6) months from the date the obligation is incurred or is evidenced by a note or similar written instrument; (e) all indebtedness secured by any Lien on any property or asset owned or held by that Person regardless of whether the indebtedness secured thereby shall have been assumed by that Person or is non-recourse to the credit of that Person; (f) obligations in respect of Letters of Credit (g) any advances under any factoring arrangement; and (h) obligations under the Settlement Agreement.
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Inactive Entity means each entity listed on Schedule 8.27.
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Examples of Inactive Entity in a sentence

  • An Inactive Entity must enter into new Agreement to again be eligible for use of NOMS or the NOMS Data.

  • The Inactive Entities have no material assets and conduct no business operations, and Borrowers have no intention of causing any Inactive Entity to obtain any material assets or conduct any business operations.

  • SCHEDULE 2 – LIST OF SUBSIDIARIES Date CHS Interest State/ Foreign/ Active/ Inactive Entity Name Address Type Business Description Ownership By Incorp.

  • Except as set forth in Schedule 4.31 (and except for distributions permitted under subsection 7.4 to pay a Liability and promptly used to pay such Liability), if any Inactive Entity shall have or has assets in value greater than $10,000 or otherwise commences to do business, Borrower shall promptly notify Collateral Agent and Collateral Agent may require such Inactive Entity to become a Borrower hereunder.

  • The financial statements relating to each Inactive Entity shall be maintained in accordance with GAAP, including the financial records relating to the merger or consolidation of such Inactive Entity as required hereunder.

  • In the event that any Inactive Entity shall remain in existence after January 31, 2003 (or such later date to which Required Holders have consented in writing), (i) a Default pursuant to this Section 9.10 shall immediately occur without further action or notice by Administrative Agent or Holders unless by that date, Borrowers have caused such Inactive Entity to become a Borrower.

  • The Financial Statements relating to each Inactive Entity shall be maintained in accordance with GAAP, including the financial records relating to the merger or consolidation of such Inactive Entity as required hereunder.

  • Except as set forth in Schedule 4.31, if any Inactive Entity shall have or has assets in value greater than $10,000 or otherwise commences to do business, Borrower shall immediately notify Lender and Lender may require such Inactive Entity to become a Borrower hereunder.

  • In the event that any Inactive Entity shall remain in existence after January 31, 2003 (or such later date to which Collateral Agent shall have consented in writing), an Event of Default pursuant to this subsection 5.10 shall immediately occur without further action or notice by Agents or Lenders unless by such date the Borrowers shall have caused such Inactive Entity to become a Borrower hereunder.