Key Subsidiary definition

Key Subsidiary means any direct or indirect Subsidiary (which, for the avoidance of doubt, shall only include any legal entity in which a Seller, directly or indirectly, owns greater than 50% of the outstanding Equity Interests in such legal entity) of Sellers (other than trusts) with assets (excluding any Intercompany Obligations) in excess of Two Hundred and Fifty Million Dollars ($250,000,000) as reflected on Parent’s consolidated balance sheet as of March 31, 2009 and listed on Section 1.1C of the Sellers’ Disclosure Schedule.

Key Subsidiary means, at the relevant time or times:

Key Subsidiary means any Subsidiary whose business constitutes 20% or more of the gross revenue, operating income, EBITDA or fair market value of the assets of the Company and its Subsidiaries, taken as a whole.

Examples of Key Subsidiary in a sentence

• The relevant Key Subsidiary shall pay any shortfall in interest (“ Additional Secured Debt Interest”) to the relevant Other Creditor within 30 days from the completion of Disposal.

• Following the disposal of the Suntec Property and the Dilution (the proceeds of which have been applied towards the repayment of the Company’s secured liabilities), the Initial Value of the Secured Assets of the Other Creditors with Corporate Guarantees for Key Subsidiary (being the Bilateral Facilities Secured Debt), is approximately US$25 million.

• Unless otherwise agreed between the relevant Other Creditor and the relevant Key Subsidiary, the interest on the Bilateral Facilities Secured Debt from 1 January 2018 onwards until the completion of the disposal of the Secured Asset(s) shall be based on the terms of the respective Existing Facility.

• Save for CIMB Bank Berhad, Bank of China (Malaysia) Berhad, Hong Leong Bank Berhad and OCBC Labuan (collectively, the “Unsecured Other Creditors”), the respective Existing Facility (as defined below) of the rest of the Other Creditors with Corporate Guarantee For Key Subsidiary are secured by Secured Assets.

• At the Scheme Meeting for the Proposed Scheme, all the Other Creditors with Corporate Guarantee For Key Subsidiary elected or were deemed to have elected the Term Loan Option in relation to the portion of such Creditor’s Eligible Debt that falls under the Sustainable Debt portion under the Proposed Scheme.

More Definitions of Key Subsidiary

Key Subsidiary or “Key Subsidiaries” means, at the relevant time, each Subsidiary or such Subsidiaries where, as of the end of the then most recently completed fiscal year of the Company:

Key Subsidiary means Trilogy REIT, HoldCo, Trilogy Healthcare Holdings, Inc., OpCo, Pro Services, Trilogy Property Holdings, LLC, PropCo I and PropCo II.

Key Subsidiary means each of Net1 Applied Technologies South Africa Proprietary Limited, Zazoo Limited, Cash Paymaster Services Proprietary Limited, Net1 Company Finance Holdings Proprietary Limited, The Smart Life Insurance Company Limited, Prism Holdings Proprietary Limited, EasyPay Proprietary Limited, Moneyline Financial Services Proprietary Limited and KSNET Incorporated;

Key Subsidiary means, at the relevant time or times, each Subsidiary where, as of the end of the then most recently completed fiscal year of the Company the assets of such Subsidiary account for more than ten per cent (10%) of the total consolidated assets of the Company;

Key Subsidiary means each or any of the Key Subsidiaries separately.

Key Subsidiary means, at the relevant time:

Key Subsidiary means, at any given time, any existing or future Subsidiary of the Company (whether or not wholly-owned):