Partially Owned Operating Company definition
Partially Owned Operating Company means any Person (i) that is not a Wholly Owned Subsidiary of the Borrower where the portion of the Equity Interest not owned by the Borrower and its Restricted Subsidiaries is owned by Targa or any of its Subsidiaries, and (ii) that holds operating assets.
Partially Owned Operating Company means any Person that (i) is transferred to a MLP or a MLP Subsidiary in connection with a Permitted MLP Equity Transfer and (ii) holds operating assets and as to which the Borrower or any Restricted Subsidiary continues to own Equity Interests.
Examples of Partially Owned Operating Company in a sentence
Notwithstanding the foregoing, (a) Equity Interests of a Person that is not a Subsidiary or a Partially Owned Operating Company shall not be required to be Collateral to the extent prohibited by a provision that is permitted by clause (II) of the proviso in Section 7.10 and (b) Equity Interests of an Unrestricted Subsidiary shall not be required to be Collateral.