Restricted Subsidiaries definition
Examples of Restricted Subsidiaries in a sentence
Each Loan Party, the Restricted Subsidiaries, and to the knowledge of such Loan Party, its directors, officers and employees when acting on behalf of such Loan Party and the Restricted Subsidiaries, are in compliance in all material respects with Anti-Corruption Laws and applicable Sanctions.
Such insurance shall either be maintained by the Loan Parties and the Restricted Subsidiaries through self-insurance, through captive insurance companies or by insurance issued by responsible and reputable insurance companies.
Each Loan Party has implemented and maintains in effect policies and procedures reasonably designed to promote and achieve compliance by such Loan Party, the Restricted Subsidiaries and their respective directors, officers and employees, in all material respects with Anti-Corruption Laws and applicable Sanctions.
On and as of the Closing Date, after giving effect to the Madison Transactions, including the funding of the Loans hereunder and the use of proceeds thereof, each of (x) the Company and its Subsidiaries and (y) the Borrower and the Restricted Subsidiaries, in each case, on a consolidated basis, are Solvent.
After application of the proceeds of each Loan, not more than 25 percent of the value (as determined by any reasonable method) of the assets of the Company, the Borrower and the Restricted Subsidiaries, on a consolidated basis, subject to any provision of this Agreement under which the sale, pledge or disposition of assets is restricted, will consist of margin stock.