INDEPENDENT SUBSIDIARY definition
INDEPENDENT SUBSIDIARY means any Subsidiary of the Company which (i) maintains separate books and records from the Company and observes all corporate formalities, (ii) pays all of its liabilities out of its own funds, (iii) in all dealings with the public identifies itself under its own name and as a separate and distinct entity, (iv) does not commingle its assets with those of any other Person, and (v) includes at least one independent member on its board of directors.
INDEPENDENT SUBSIDIARY means each Subsidiary of the U.S. Borrower wherein no Equity Interests are held, directly or indirectly (except as a result of ownership interests in the U.S. Borrower) by any Person (other than another Subsidiary of the U.S. Borrower) which is an Affiliate of the U.S. Borrower.
INDEPENDENT SUBSIDIARY means a Person that is directly or indirectly controlled by the Grantee that files its own Federal tax returns or whose items of income or deduction, if any, are reflected in the Federal tax returns of a Person other than the Grantee. For purposes of this definition, “control” of a Person shall mean having the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person, whether by ownership of voting equity, by contract, or otherwise. Involuntary Termination or Furlough means terminating employment or requiring a temporary suspension or unpaid leave for any reason, including a shut-down or slow-down of business; provided, however, that an Involuntary Termination or Furlough does not include (i) the termination of seasonal Employees at the conclusion of the season or (ii) a Permitted Termination or Furlough. Other COVID-19 Federal Financial Assistance Received means the amount of other Federal grants, loans, and direct assistance funded in response to COVID-19, or the amount claimed under Federal tax credits established in response to COVID-19, up to the date of the Grantee’s application for a CERTS grant, including but not limited to the following:
More Definitions of INDEPENDENT SUBSIDIARY
INDEPENDENT SUBSIDIARY means a subsidiary that operates the core business and is not in the group of the Central Subsidiary, and is not under the supervision of the Central Subsidiary.
INDEPENDENT SUBSIDIARY means:
INDEPENDENT SUBSIDIARY means any Subsidiary of the Company which (i)
INDEPENDENT SUBSIDIARY means any Subsidiary of the Issuer which (i) maintains separate books and records from the Issuer and observes all corporate formalities, (ii) pays all of its liabilities out of its own funds, (iii) in all dealings with the public identifies itself under its own name and as a separate and distinct entity, (iv) does not commingle its assets with those of any other Person, and (v) includes at least one independent member on its board of directors.