Majority-Owned Subsidiary definition

Majority-Owned Subsidiary of a person means a company fifty percent (50%) or more of the outstanding Voting Securities of which are owned by such person, or by a company which, within the meaning of this paragraph, is a Majority-Owned Subsidiary of such person.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Majority-Owned Subsidiary means a Consolidated Subsidiary that is not wholly-owned (directly or indirectly) by the Company.

Majority-Owned Subsidiary. ’ of a person means a com- pany 50 per centum or more of the outstanding voting securi- ties of which are owned by such person, or by a company which, within the meaning of this paragraph, is a majority- owned subsidiary of such person.

Examples of Majority-Owned Subsidiary in a sentence

• All of the membership interests of the Majority-Owned Subsidiary have been duly and validly authorized and issued and, based solely upon a certificate of an officer of the Company, are fully paid, under the [LLC law] of ________ and the [Articles of Organization] and the [operating agreement] of the Majority-Owned Subsidiary.

• Thereafter, to the extent that such Upgrade replaces a previous version or any part of the Software, Colleague shall provide Support Services in respect of that Upgrade only and Support Services shall cease in respect of such previous version or part of the Software as appropriate.

• Licensee agrees to enforce the written agreement of the Majority-Owned Subsidiary to be bound by the terms of this Agreement.

• Based solely upon a certificate of an officer of the Company, the Company owns a [60]% membership interest in the Majority-Owned Subsidiary, and to such counsel’s knowledge, such ownership interest is free and clear of all liens, encumbrances, equities and claims.

• The Company will not make, shall cause each Wholly- Owned Subsidiary not to make, and shall use commercially reasonable efforts to cause the Majority-Owned Subsidiary not to make, any material modification or amendment to, or cancel or terminate any Material Contracts or agree to do any of those acts.

More Definitions of Majority-Owned Subsidiary

Majority-Owned Subsidiary means a Subsidiary other than a Wholly Owned Subsidiary.

Majority-Owned Subsidiary means a person or company of which voting securities carrying more than 50 percent of the votes for the election of directors are held by any one or more of

Majority-Owned Subsidiary means, when applied to a Subsidiary, any Subsidiary 80% or more of the Voting Stock of which is owned by the Borrower or a Majority-Owned Subsidiary (other than Voting Stock required to be held as directors' qualifying stock).

Majority-Owned Subsidiary of the Borrower means a Subsidiary of which the Borrower owns, directly or indirectly through another Subsidiary, more than fifty percent (50%) of the issued and outstanding capital stock or other equity interests.

Majority-Owned Subsidiary means a subsidiary more than 50 percent of whose outstanding securities representing the right (other than as affected by events of default) to vote for the election of directors, is owned by the subsidiary's parent and/or one or more of the parent's other majority-owned subsidiaries.

Majority-Owned Subsidiary means, with respect to the Company, (i) any corporation of which more than fifty percent (50%) of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation will have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%).

Majority-Owned Subsidiary means a Restricted Subsidiary of Holdings of which securities (except for directors’ qualifying shares) or other ownership interests representing a majority of the aggregate outstanding Equity Interests of such Restricted Subsidiary are, at the time any determination is being made, owned, Controlled or held by Holdings or one or more wholly owned Subsidiaries of Holdings or by Holdings and one or more wholly owned Subsidiaries of Holdings.