ISBC Subsidiary definition

ISBC Subsidiary means any corporation, partnership, limited liability company or other entity of which more than 50% of the corporation, partnership, limited liability company or other entity of which is owned, either directly or indirectly, by ISBC or Investors Bank, with Investors Bank constituting an ISBC Subsidiary of ISBC, except any corporation, partnership, limited liability company, or other entity the stock, partnership, membership or other equity interests of which is held in the ordinary course of the lending activities of Investors Bank or on the basis of a “debt previously contracted.”
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Examples of ISBC Subsidiary in a sentence

  • As of the date of this Agreement, ISBC has received no notice of, and to the Knowledge of ISBC, there is no audit examination, deficiency assessment, tax investigation or refund litigation with respect to any taxes of ISBC or any ISBC Subsidiary, and no claim has been made by any authority in a jurisdiction where ISBC or any ISBC Subsidiary do not file tax returns that ISBC or any such ISBC Subsidiary is subject to taxation in that jurisdiction.

  • To the Knowledge of ISBC, the conduct of the business of ISBC and each ISBC Subsidiary as currently conducted or proposed to be conducted does not, in any respect, infringe upon, dilute, misappropriate or otherwise violate any intellectual property owned or controlled by any third party.

  • Neither ISBC nor any ISBC Subsidiary, nor to the Knowledge of ISBC any other party thereto, is in breach of any of its obligations under any such agreement or arrangement in any material respect.

  • ISBC and each ISBC Subsidiary has withheld and paid all taxes required to have been withheld and paid in connection with amounts paid or owing to any employee, independent contractor, creditor, stockholder or other third party, and ISBC and each ISBC Subsidiary, to the Knowledge of ISBC, has timely complied with all applicable information reporting requirements under Part III, Subchapter A of Chapter 61 of the Code and similar applicable state and local information reporting requirements.

  • Except as set forth in ISBC DISCLOSURE SCHEDULE 5.7, ISBC and ISBC Subsidiary have not executed an extension or waiver of any statute of limitations on the assessment or collection of any material tax due that is currently in effect.

  • Neither Investors Bank nor any ISBC Subsidiary has trust powers or acts as a fiduciary.

  • ISBC and each ISBC Subsidiary have performed all the obligations required to be performed, and are not in default in any respect, under any contract, agreement, arrangement or commitment relating to any of the foregoing.

  • ISBC and each ISBC Subsidiary own or, to ISBC’s Knowledge, possess valid and binding licenses and other rights (subject to expirations in accordance with their terms) to use all patents, copyrights, trade secrets, trade names, servicemarks and trademarks used in their business, each without payment (except as set forth in ISBC DISCLOSURE SCHEDULE 5.19, and neither ISBC nor any ISBC Subsidiary has received any notice of conflict with respect thereto that asserts the rights of others.

  • ISBC and each ISBC Subsidiary, as lessee, have the right under valid and subsisting leases of real and personal properties used by ISBC and the ISBC Subsidiary in the conduct of their businesses to occupy or use all such properties as presently occupied and used by each of them.

  • Any decision of the Executive Committee which this Club fails to ratify shall be null and void.

Related to ISBC Subsidiary

  • JV Subsidiary any Subsidiary of a Group Member which is not a Wholly Owned Subsidiary and as to which the business and management thereof is jointly controlled by the holders of the Capital Stock therein pursuant to customary joint venture arrangements.

  • Material Domestic Subsidiary means any Domestic Subsidiary that is a Material Subsidiary.

  • Parent Subsidiary means any Subsidiary of Parent.

  • ORE Subsidiary means any Subsidiary of the Assuming Bank that engages solely in holding, servicing, managing or liquidating interests of a type described in clause (A) of the definition of “Other Real Estate,” which interests have arisen from the collection or settlement of a Shared-Loss Loan.

  • Subsidiary means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

  • Current Subsidiary means any Person in which the Company on the Subscription Date, directly or indirectly, (i) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates all or any part of the business, operations or administration of such Person, and all of the foregoing, collectively, “Current Subsidiaries”.

  • SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

  • Non-U.S. Subsidiary means any Subsidiary that is not a U.S. Subsidiary.

  • Controlled Subsidiary means any Subsidiary of the Company, 50% or more of the outstanding equity interests of which are owned by the Company and its direct or indirect Subsidiaries and of which the Company possesses, directly or indirectly, the power to direct or cause the direction of the management or policies, whether through the ownership of voting equity interests, by agreement or otherwise.

  • IDI Subsidiary means any Issuer Subsidiary that is an insured depository institution.

  • Acquisition Subsidiary has the meaning specified in Section 7.14.

  • SBIC Subsidiary means any Subsidiary of the Borrower (or such Subsidiary’s general partner or manager entity) that is (x) either (i) a “small business investment company” licensed by the SBA (or that has applied for such a license and is actively pursuing the granting thereof by appropriate proceedings promptly instituted and diligently conducted) under the Small Business Investment Act of 1958, as amended, or (ii) any wholly-owned, direct or indirect, Subsidiary of an entity referred to in clause (x)(i) of this definition, and (y) designated in writing by the Borrower (as provided below) as an SBIC Subsidiary, so long as:

  • PRC Subsidiary means any Subsidiary of the Company organized under the Laws of the PRC.

  • Foreign Subsidiary Holding Company means any Subsidiary the primary assets of which consist of Capital Stock in (i) one or more Foreign Subsidiaries or (ii) one or more Foreign Subsidiary Holding Companies.

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • UK Subsidiary means a Subsidiary organized under the laws of England and Wales.

  • Immaterial Domestic Subsidiary means any Domestic Subsidiary that is not a Material Domestic Subsidiary.

  • U.S. Subsidiary means any Subsidiary that is incorporated or organized under the laws of the United States or a state thereof or the District of Columbia.

  • Wholly Owned Restricted Subsidiary is any Wholly Owned Subsidiary that is a Restricted Subsidiary.

  • Inactive Subsidiary means any Subsidiary of a Borrower that (a) does not conduct any business operations, (b) has assets with a total book value not in excess of $1,000,000 and (c) does not have any Indebtedness outstanding.

  • Domestic Subsidiary means any Subsidiary that is organized under the laws of the United States, any state thereof or the District of Columbia.

  • Bank Subsidiary means the subsidiary or subsidiaries or the Bank which may from time to time be specified by the Bank to the Customer;

  • Wholly Owned Subsidiary means any Subsidiary of a Person in respect of which all of the Equity Interests (other than, in the case of a corporation, directors’ qualifying shares) are at the time directly or indirectly owned or controlled by such Person or one or more other Subsidiaries of such Person or by such Person and one or more other Subsidiaries of such Person.

  • Operating Subsidiary means a majority-owned subsidiary of a financial

  • Wholly-Owned Consolidated Subsidiary means any Consolidated Subsidiary all of the shares of capital stock or other ownership interests of which (except directors' qualifying shares) are at the time directly or indirectly owned by the Borrower.

  • Non-Wholly Owned Subsidiary each Subsidiary that is not a Wholly Owned Subsidiary.