Permitted Other Subsidiaries definition

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint Venture Subsidiary of the Borrower which (a) does not own any Unencumbered Property, and (b) is a bankruptcy remote, single purpose Person.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint Venture Subsidiary of the Borrower which (a) does not own and has never owned any Eligible Property, (b) is a newly-formed, single-purpose Person and (c) if such Person has any Hotel Property pledged to secure any Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness, then such Person shall not own any Hotel Properties other than those that secure such Indebtedness.

Permitted Other Subsidiaries means (a) DFW South LP; (b) Meadowlands LP; ---------------------------- (c) AGH DFW South LLC, the sole general partner of DFW South LP; (d) AGH Secaucaus LLC, the sole general partner of Meadowlands LP and (c) such other Subsidiaries of the Borrower which will not be Guarantors and not own Eligible Property, as may be approved by the Agents in their sole discretion.

Examples of Permitted Other Subsidiaries in a sentence

• The Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) to, enter into any agreement (other than a Credit Document) which limits distributions to or any advance by any of the Borrower’s Subsidiaries to the Borrower.

• Industry-sponsored standard-setting is a good example of the contrast.

• The Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) to, enter into any agreement (other than a Credit Document) which limits distributions to or any advance by any of the Borrower's Subsidiaries to the Borrower.

• The ------------------------------------------------------ Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) to, enter into any agreement (other than a Credit Document) which limits distributions to or any advance by any of the Borrower's Subsidiaries to the Borrower.

• The creation and maintenance of building emergency plans that include procedures for fire, tornado, bomb threat, power failure, natural disaster, medical emergency, missing service recipient, intruders and other emergencies requiring rapid dismissal, evacuation, taking shelter, lockdown, and reunification, etc.

More Definitions of Permitted Other Subsidiaries

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint Venture Subsidiary of the Borrower which (a) does not own any

Permitted Other Subsidiaries means (a) DFW South LP; (b) Meadowlands LP; (c) ---------------------------- AGH DFW South LLC, the sole general partner of DFW South LP; (d) AGH Secaucaus LLC, the sole general partner of Meadowlands LP, (e) 75 Arlington Heights Limited Partnership, L.P., (f) 75 LLC, (g) 2780 Atlanta Limited Partnership, L.P., (g) AGH 2780 Atlanta LLC and (h) such other Subsidiaries of the Borrower which will not be Guarantors and not own Eligible Property, as may be approved by the Agents in their sole discretion.

Permitted Other Subsidiaries means (a) a Subsidiary of the Borrower which is a single-purpose Person (i) which owns a Hotel Property or Hotel Properties or an interest in a Person which owns a Property which Property or interest is pledged to secure Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness permitted by this Agreement, and (ii) which does not own any Hotel Properties other than those that secure such Indebtedness, (b) a direct or indirect Subsidiary of the Parent which is a single-purpose Person and which is not a Subsidiary of the Borrower and does not have assets or annual revenues in excess of $5,000,000, or (c) a TRS which (i) is a lessee for a Hotel Property that secures either Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness permitted pursuant to the Credit Agreement and (ii) is not a lessee for any Hotel Property which does not secure any of such Indebtedness.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Non ---------------------------- Wholly-Owned Subsidiary of the Borrower which (a) does not own and has never owned any Eligible Property, (b) is a newly-formed, single-purpose Person and (c) if such Person has any Hotel Property pledged to secure any Secured Non- Recourse Indebtedness or Secured Recourse Indebtedness, then such Person shall not own any Hotel Properties other than those that secure such Indebtedness.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint

Permitted Other Subsidiaries means either (a) a Subsidiary of the ---------------------------- Borrower which is a single-purpose Person (i) which owns a Hotel Property or Hotel Properties or an interest in a Person which owns a Property which Property or interest is pledged to secure Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness permitted by this Agreement, and (ii) which does not own any Hotel Properties other than those that secure such Indebtedness or (b) a direct or indirect Subsidiary of the Parent which is a single-purpose Person and which is not a Subsidiary of the Borrower and does not have assets or annual revenues in excess of $5,000,000.

Permitted Other Subsidiaries means Persons deemed "Permitted Other ---------------------------- Subsidiaries" under the Senior Credit Agreement.