Insignificant Subsidiary definition
Insignificant Subsidiary means, on any date, any Subsidiary of Caterpillar or CFSC whose aggregate asset value, as reasonably calculated by Caterpillar in accordance with generally accepted accounting principles, is at less than or equal to $50,000,000 on such date.
Insignificant Subsidiary means, at any time, any Subsidiary of the Borrower that is not a “significant subsidiary” within the meaning of Rule 405 of the Securities Act of 1933, as amended, in each case determined as of the most recently ended Test Period as of such time.
Insignificant Subsidiary means any Subsidiary designated by the Company as an “Insignificant Subsidiary”; provided that the total assets of all Subsidiaries that are so designated do not in the aggregate at any time exceed 3% of the assets of the Company and its consolidated Subsidiaries as reflected on the Company’s most recent consolidated balance sheet prepared in accordance with GAAP.
Examples of Insignificant Subsidiary in a sentence
Schedule 5.04 to the Disclosure Letter shows as of the Closing Date, for the Borrower and each Subsidiary, its name, its jurisdiction of organization, the holders of its Equity Interests (excluding the Borrower) and whether such Subsidiary is a Guarantor and/or an Insignificant Subsidiary.
More Definitions of Insignificant Subsidiary
Insignificant Subsidiary means any Subsidiary of the Company that has total assets of not more than $1.0 million and that is designated by the Company as an “Insignificant Subsidiary;” provided that the total assets of all Subsidiaries that are so designated, as reflected on the Company’s most recent consolidating balance sheet prepared in accordance with GAAP, may not in the aggregate at any time exceed $10.0 million.
Insignificant Subsidiary means any Subsidiary of the Borrower that (i) has assets aggregating $1,000,000 or less and (ii) does not have any creditor that is the beneficiary of a guaranty of the Borrower or any of its Subsidiaries.
Insignificant Subsidiary means a Foreign Subsidiary having assets with a book value of $10,000,000 or less.
Insignificant Subsidiary means, at any time, a Subsidiary of the Parent, of which either (or both):
Insignificant Subsidiary means any Subsidiary that as of any date of determination (a) (i) whose total assets as of the last day of the most recent fiscal period for which financial statements have been delivered pursuant to Section 6.01(a) or Section 6.01(b), as applicable, were less than or equal to 2.50% of the Consolidated Total Assets of Consolidated Group as of such date and (ii) whose Attributable EBITDA or revenues as of the last day of the most recent fiscal period for which financial statements have been delivered pursuant to Section 6.01(a) or Section 6.01(b), as applicable were less than or equal to 2.50% of the Consolidated EBITDA or the consolidated revenues of Consolidated Group as of such date, in each case determined in accordance with GAAP; provided that the total assets (as so determined), Attributable EBITDA and revenues (as so determined) of all Insignificant Subsidiaries in the aggregate shall not exceed 5.00% of Consolidated Total Assets of the Consolidated Group or 5.00% of the Consolidated EBITDA or the consolidated revenues of the Consolidated Group as of such date, as the case may be, (b) is not the owner of any of the Capital Stock of any Significant Subsidiary, and (c) is not the owner of any Material Intellectual Property or any Material Asset; provided, that, (A) as of the last day of the fiscal quarter of Holdings most recently ended for which financial statements are required to be delivered pursuant to Section 6.01(a) or Section 6.01(b) (or, as of the Closing Date, the most recent financial statements delivered prior to the Closing Date), the Consolidated Total Assets, Consolidated EBITDA and consolidated revenues of all Subsidiaries so designated by Borrower as “Insignificant Subsidiaries” shall have, as of the last day of such fiscal year, exceeded the limits set forth in clause (a) or (b) above, then within ten (10) Business Days after the date such financial statements are so delivered (or so required to be delivered), the Borrower shall redesignate one or more Insignificant Subsidiaries by written notice to Administrative Agent, such that, as a result thereof, the Consolidated Total Assets, Consolidated EBITDA and consolidated revenues of all Subsidiaries that are still designated as “Insignificant Subsidiaries” do not exceed such limits, (B) the status of any such Subsidiary as an Insignificant Subsidiary shall at all times be the same under the terms of any Material Indebtedness (to the extent applicable) and this Agreement, (C) no Insignif...
Insignificant Subsidiary means any Subsidiary that is not a Significant Subsidiary.
Insignificant Subsidiary any Subsidiary of the Company that neither has total assets (including Capital Stock of other Subsidiaries) with a book value of 5.0% or more of the consolidated total assets of the Company and its Subsidiaries nor generated EBITDA (nor owns Capital Stock of any Subsidiary that generated EBITDA) in excess of 5.0% of the EBITDA of the Company and its Subsidiaries for the period of four fiscal quarters most recently completed; provided that (A) the book value of all assets of all Insignificant Subsidiaries (including Capital Stock of other Subsidiaries) may not in the aggregate exceed 10.0% or more of the consolidated total assets of the Company and its Subsidiaries and (B) the EBITDA generated by all Insignificant Subsidiaries and their Subsidiaries for the period of four fiscal quarters most recently completed may not in the aggregate exceed 10.0% of the EBITDA of the Company and its Subsidiaries.