Limited Minority Holdings means Minority Holdings in which (i) Borrower has a less than fifty percent (50%) ownership interest and (ii) neither the Borrower nor the Company directly or indirectly controls the management of such Minority Holdings, whether as the general partner or managing member of such Minority Holding, or otherwise. As used in this definition only, the term “control” shall mean the authority to make major management decisions or the management of day-to-day operations of such entity or its Property(ies) and shall include instances in which the Management Company manages the day-to-day leasing, management, control or development of the Properties of such Minority Holdings pursuant to the terms of a management agreement.
Limited Minority Holdings means non-Wholly Owned Subsidiaries or Joint Ventures in which (a) Parent and its Wholly Owned Subsidiaries have a less than 50% ownership interest and (b) Parent and its Wholly Owned Subsidiaries do not control the day-to-day management of such non-Wholly Owned Subsidiary or Joint Venture, whether as the general partner or managing member of such non-Wholly Owned Subsidiary or Joint Venture, or otherwise. As used in this definition, Parent and any Wholly Owned Subsidiaries shall be deemed to “control” the management of such non-Wholly Owned Subsidiary or Joint Venture if such Person has the authority to manage day-to-day operations of such non-Wholly Owned Subsidiary or Joint Venture.
Limited Minority Holdings means Minority Holdings in which (i) the Borrower, individually or together with its Affiliates, has less than a 25% ownership interest or (ii) the Borrower, individually or together with its Affiliates, has not less than a 25%, nor more than a 50%, ownership interest and does not control or share with its Affiliates or other Person by contract control of the management of such Minority Holdings, whether as the general partner or managing member of such Minority Holding, or otherwise. As used in this definition only, the term "control" shall mean, in accordance with GAAP, the authority to make major management decisions or the management of day-to-day operations of such entity and shall include instances in which the Borrower manages the day-to-day leasing, management, control or development of the Properties of such Minority Holding pursuant to the terms of a management agreement.
Examples of Limited Minority Holdings in a sentence
Cause the Target and its Subsidiaries and any Minority Holdings owned (directly or indirectly) by the Partnership to dividend or otherwise distribute all of its cash (other than cash necessary to conduct its normal business and operations) to the Partnership (the "Distributions"), subject to, in the case of any Limited Minority Holdings, contractual or other legal restrictions prohibiting or limiting the ability of any Group Member to cause such dividend or distribution.
More Definitions of Limited Minority Holdings
Limited Minority Holdings means Minority Holdings in which (i) Borrower has a less than fifty percent (50%) ownership interest and (ii) neither
Limited Minority Holdings means Minority Holdings in which (i) the Borrower or GGP, Inc. has a less than fifty percent (50%) ownership interest or (ii) the Borrower or GGP, Inc. does not control the management of such Minority Holdings, whether as the general partner or managing member of such Minority Holding, or otherwise or (iii) the Borrower or GGP, Inc. does not control decisions with respect to the financing or sale or
Limited Minority Holdings means Minority Holdings in which (i) Borrower has a less than fifty percent (50%) ownership interest and (ii) neither the Borrower nor the Company directly or indirectly controls the management
Limited Minority Holdings means Minority Holdings which do not ------------------------- qualify as Eligible Minority Holdings but for which (i) there are no restrictions on the ability of such Minority Holding to declare distributions or dividends, as the case may be, and (ii) an acceptable buy/sell agreement exists, as determined by the Arrangers in their sole discretion. As used in this definition, the term "acceptable buy/sell agreement" shall mean an agreement whereby either party thereto may exercise the rights given therein to buy or sell a percentage interest in the Minority Holding in whole, as the case may be, for any reason, and the other party thereto must sell or buy, for cash, the percentage interest in the Minority Holding in whole, upon the terms and conditions set forth in the agreement.
Limited Minority Holdings means Minority Hold- ings in which (i) the Borrower has a less than fifty percent (50%) beneficial ownership interest or (ii) the Borrower or a Consolidated Subsidiary does not control the management of such Minority Holdings, whether as the general partner or managing member of such Minority Holding, or otherwise. As used in this definition only, the term "control" shall mean the authority to make unilaterally major management deci- sions, in addition to the management of day-to-day opera- tions of such entity and shall include instances in which the Borrower manages the day-to-day leasing, management, control or development of the Properties of such Minority Interest pursuant to the terms of a management agreement.
Limited Minority Holdings. Minority Holdings in which (i) Holdings or any Consolidated Entity has a less than 50% ownership interest or (ii) Holdings or any Consolidated Entity does not control the management of such Minority Holdings, whether as the general partner or managing member of such Minority Holding, or otherwise or (iii) Holdings or any Consolidated Entity does not control decisions with respect to the financing or sale or other disposition of the assets thereof. As used in this definition only, the term "control" shall mean the authority to make major management decisions or the management of day-to-day operations of such entity and shall include instances in which the Management Company manages the day-to-day leasing, management, control or development of the GGP Properties of such Minority Holding pursuant to the terms of a management agreement.
Limited Minority Holdings means Minority Holdings in which