Examples of Insignificant Subsidiaries in a sentence
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.
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.
None of the Insignificant Subsidiaries (i) carries on any substantive business operations or activities or (ii) has assets or liabilities in excess of $50,000.
In calculating compliance with the financial covenants thereafter, the Parent will show the calculations utilized to exclude the Insignificant Subsidiaries from such financial covenants.
All of the Subsidiaries of FMI as of the Initial Closing Date (other than Insignificant Subsidiaries) are identified in Schedule 7.3(w) annexed hereto.