Passive Company definition

Passive Company means, collectively, The Bon-Ton Properties- Irondequoit G.P., Inc., The Bon-Ton Properties- Eastview G.P., Inc., The Bon-Ton Properties- Marketplace G.P., Inc., The Bon-Ton Properties- Greece Ridge G.P., Inc., Capital City Commons Realty, Inc. and Crop Reinsurance Ltd.
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Examples of Passive Company in a sentence

  • Where such Obligor or such Subsidiary is a Passive Company, engage in any trade or business or incur any Debt or guaranteed Debt except for the trade or business in which it is engaged on the Closing Date.

  • Make any Asset Disposition (other than any Asset Disposition by any SPE or Passive Company), except a Permitted Asset Disposition, a disposition of Equipment under Section 8.4.2, or a transfer of Property by any Obligor to another Obligor.

  • Be or become the general partner of any partnership other than (a) a Passive Company and (b) any Subsidiary with nominal assets; provided that notwithstanding anything to the contrary contained herein, at no time may any assets (other than assets with a fair market value of nominal amount) of any Obligor be transferred to any such Subsidiary described in this clause (b).

  • An Eligible Passive Company may not receive working capital funds.

  • Participant — as defined in Section 13.3.1. Passive Company — collectively, The Bon-Ton Properties- Eastview G.P., Inc., The Bon-Ton Properties- Marketplace G.P., Inc., The Bon-Ton Properties- Greece Ridge G.P., Inc., The Bon-Ton Properties- Eastview L.P., The Bon-Ton Properties- Marketplace L.P., and The Bon-Ton Properties- Greece Ridge L.P. Patriot Act — the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub.

  • Be or become the general partner of any partnership other than (a) a Passive Company and (b) any Subsidiary with nominal assets; provided that notwithstanding anything to the contrary contained herein, at no time may any assets (other than assets with a fair market value of a nominal amount) of any Obligor be transferred to any such Subsidiary described in this clause (b).

  • No Passive Company shall engage in any trade or business or incur any Indebtedness or Guaranteed Indebtedness except for (a) the trade or business in which it is engaged on the Closing Date and (b) Indebtedness or Guaranteed Indebtedness existing as of the Closing Date and set forth on Disclosure Schedule (6.20).

  • The amount of any loan re- ceived by an Eligible Passive Company applies to the loan limit of both the El- igible Passive Company and the Oper- ating Company.