Insignificant Subsidiaries definition
Insignificant Subsidiaries means any one or more Subsidiaries (other than a Borrower or a Guarantor) which, if considered in the aggregate as a single subsidiary, would not constitute a “significant subsidiary” as defined in Rule 12b-2 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended.
Insignificant Subsidiaries means all Subsidiaries of the Company other than Significant Subsidiaries.
Insignificant Subsidiaries means (i) as of the Effective Date, the Subsidiaries of Holdings listed on Schedule 1.01F hereto and, thereafter, (ii) any Subsidiary of Holdings which is formed or acquired after the Effective Date and designated as such by the Borrower; provided, however, that no Subsidiary of Holdings may remain, or be designated, as an Insignificant Subsidiary if the assets of such Subsidiary, when taken together with the assets of the other Insignificant Subsidiaries at such time exceed the lesser of (i) 3% Consolidated Total Assets or (ii) $7,500,000 in asset value.
Examples of Insignificant Subsidiaries in a sentence
Except such Domestic Subsidiaries that are Guarantors, as of the Closing Date, there are no Domestic Subsidiaries of the Company that are not either (i) Insignificant Subsidiaries or (ii) Excluded Persons.
All of Parent’s Subsidiaries (except Insignificant Subsidiaries) are duly organized, validly existing and in good standing, where applicable, under the laws of their respective jurisdictions of organization, and have all organizational powers and all Material governmental licenses, authorizations, consents and approvals required to carry on their respective businesses as now conducted.
More Definitions of Insignificant Subsidiaries
Insignificant Subsidiaries means, as of any day, Subsidiaries (a) the combined total assets of which are less than 5% of the consolidated total assets of the Borrower and its Subsidiaries as of the last day of the most recent fiscal quarter of the Borrower in respect of which financial statements have been delivered pursuant to Section 5.01 and do not in the aggregate for all such Insignificant Subsidiaries, exceed 10% of combined total assets of the Borrower and its Subsidiaries and (b) the combined revenues of which is less than 5% of the combined revenues of the Borrower and its Subsidiaries for the most recent period of four consecutive fiscal quarters of the Borrower ended on or prior to such date in respect of which financial statements have been delivered pursuant to Section 5.01 and do not in the aggregate for all such Insignificant Subsidiaries, exceed 15% of combined revenues of the Borrower and its Subsidiaries; provided that, such aggregate test shall be calculated not taking into account any revenue generated by WorldPac.
Insignificant Subsidiaries means (i) as of the Closing Date, the Subsidiaries of Holdings listed on Schedule 1.01F hereto and, thereafter, (ii) any Subsidiary of Holdings which is formed or acquired after the Closing Date and designated as such by the Borrower; provided, however, that no Subsidiary of Holdings may remain, or be designated, as an Insignificant Subsidiary if the assets of such Subsidiary, when taken together with the assets of the other Insignificant Subsidiaries at such time exceed the lesser of (i) 3% Consolidated Total Assets or (ii) $7,500,000 in asset value.
Insignificant Subsidiaries means Vyyo Brasil Ltd. and SHDIP Ltd.
Insignificant Subsidiaries means each of the Subsidiaries of Holdings listed on Schedule 1.1(a).
Insignificant Subsidiaries means, as of any day, Subsidiaries (a) the combined total assets of which are less than 5% of the consolidated total assets of the Borrower as of the last day of the most recent fiscal quarter of the Borrower in respect of which financial statements have been delivered pursuant to Section 5.01 (or, prior to the first delivery of any such financial statements, as of the last day of the fiscal quarter of the Borrower ended July 17, 2021), (b) the combined net income of which is less than 5% of the consolidated net income of the Borrower for the most recent period of four consecutive fiscal quarters of the Borrower ended on or prior to such date in respect of which financial statements have been delivered pursuant to Section 5.01 (or, prior to the first delivery of any such financial statements, for the period of four consecutive fiscal quarters of the Borrower ended July 17, 2021) and (c) the combined revenues of which are less than 5% of the consolidated revenues of the Borrower for the most recent period of four consecutive fiscal quarters of the Borrower ended on or prior to such date in respect of which financial statements have been delivered pursuant to Section 5.01 (or, prior to the first delivery of any such financial statements, for the period of four consecutive fiscal quarters of the Borrower ended July 17, 2021).
Insignificant Subsidiaries means, as of any date of determination, each Subsidiary of Parent, if any, which have (i) aggregate gross revenues constituting less than or equal to 5.0% of the consolidated gross revenues of Parent and its Subsidiaries measured for the twelve (12) month period ended immediately prior to such date for which financial statements have been delivered to Agent pursuant to Section 7.01(a), (b), or (c), and (ii) assets constituting less than or equal to 5.0% of the consolidated tangible assets of Parent and its Subsidiaries; provided, that a Subsidiary of Parent will not be considered to be an Insignificant Subsidiary if (x) it is a Loan Party, (y) it, directly or indirectly, guarantees or otherwise provides credit support for any Indebtedness of any Loan Party, and/or (z) it constitutes a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act of 1933, as such regulation is in effect on the Effective Date; provided further, that the following Subsidiaries of Parent are Insignificant Subsidiaries as of the Effective Date: (1) ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Carpentry, LLC, an Illinois limited liability company, (2) SBS Hourglass, LLC, a Delaware limited liability company, and (3) Stock Building Supply of Florida, LLC, a Florida limited liability company.”
Insignificant Subsidiaries means, as of any date of determination, each Subsidiary of Parent, if any, which have (i) aggregate gross revenues constituting less than or equal to 5.0% of the consolidated gross revenues of Parent and its Subsidiaries measured for the twelve (12) month period ended immediately prior to such date for which financial statements have been delivered to Agent pursuant to Section 7.01(a) ,