Restricted Subsidiaries definition
Examples of Restricted Subsidiaries in a sentence
In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time as a result of the foregoing, and on any Reversion Date, then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants under this Indenture with respect to future events.
The Borrower will, and will cause the Restricted Subsidiaries to, keep and maintain all property material to the conduct of its business in good working order and condition (ordinary wear and tear, casualty and condemnation excepted), except to the extent that the failure to do so would reasonably be expected to have a Material Adverse Effect.
The Borrower will not, and will not permit the Restricted Subsidiaries to, create, incur or assume any Indebtedness.
During any period of time that the Notes are rated Investment Grade and no Default or Event of Default has occurred and is then continuing, Parent and its Restricted Subsidiaries will not be subject to Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.15 and Section 5.01(a)(iv) and 5.01(c)(iv) (collectively, the “Suspended Covenants”).
Parent shall pay, and shall cause its Restricted Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate negotiations or proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.