Project Subsidiary definition

Project Subsidiary any Subsidiary of the Borrower whose sole business is the ownership and/ or operation of a Project or Projects and substantially all of the assets of which are associated with or acquired or utilized in such Project.

Project Subsidiary means any Subsidiary of the Company held for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties and any Subsidiary of the Company whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of the Company other than obligations of the Company related to Project Debt of one or more Project Subsidiaries.

Project Subsidiary means a Subsidiary of the Borrower formed solely for the purpose of acquiring property relating to and the constructing and operating of one or more ethanol plants (but not to exceed two, in the aggregate, for all Project Subsidiaries) financed in whole or in part by Permitted Project Debt.

Examples of Project Subsidiary in a sentence

That designation will only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Excluded Project Subsidiary.

Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary or Excluded Project Subsidiary will be evidenced to the Trustee by filing with the Trustee a certified copy of a resolution of the Board of Directors giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding conditions and was permitted by Section 4.07 hereof.

A Responsible Officer of the Company may redesignate any Excluded Project Subsidiary to be a Restricted Subsidiary that is not an Excluded Project Subsidiary if that redesignation would not cause a Default.

The Company may designate, by a certificate executed by a Responsible Officer of the Company, any Restricted Subsidiary to be an Excluded Project Subsidiary if that designation would not cause a Default.

The Borrower shall cause (i) each Project Subsidiary to take only such actions that are necessary or incidental to the ownership, construction and operation of one or more Projects and (ii) each Borrowing Base Project to be wholly-owned by one or more Project Subsidiaries or Tax Credit Parties (as set forth on Schedule 1.1(b) or in the applicable Approval Notice submitted and approved in accordance with Section 2.19).

More Definitions of Project Subsidiary

Project Subsidiary means (a) AquaVenture (BVI) Holdings Limited and Seven Seas Water (BVI) Limited, and (b) each other Subsidiary of the BVI Borrower that is formed or acquired after the Closing Date and is designated a Project Subsidiary by BVI Borrower.

Project Subsidiary means any Restricted Party that owns a Borrowing Base Project.

Project Subsidiary means any Subsidiary of the Issuer or the Guarantor:

Project Subsidiary any Person other than the Company obligated in respect of any Project Finance Debt.

Project Subsidiary means any Subsidiary of Clearway Operating LLC held for the purpose of holding, leasing, developing, constructing or acquiring energy generating, transmission or distribution assets, or assets related thereto, or any other power or energy facility or any assets related thereto, and any Subsidiary of Clearway Operating LLC whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of Clearway Operating LLC other than obligations of Clearway Operating LLC related to Project Debt of one or more Project Subsidiaries.

Project Subsidiary means a Subsidiary whose sole purpose is to develop, construct and commission a specific wind energy power project.

Project Subsidiary means a Consolidated Subsidiary of the Company (i) (A) which has no indebtedness other than Project Non-Recourse Debt, (B) which holds no indebtedness of, or direct or indirect equity interest in, the Company of any Subsidiary other than equity interests in another Project Subsidiary and (C) in which any Investment by the Company or any Subsidiary constituted a permitted investment at the time made, (ii) which is a direct or indirect Subsidiary of a Project Subsidiary or (iii) that is in existence as of the Closing Date and set forth on SCHEDULE 1.01C.