Special Purpose Financing Subsidiary means a Subsidiary of the Borrower that has no direct or indirect interest in the business of the Borrower and its other Subsidiaries and was formed solely for the purpose of issuing Preferred Securities.
Special Purpose Financing Subsidiary means a Subsidiary of the Borrower which is a special-purpose company created and used solely for purposes of effecting a Receivables Financing.
Special Purpose Financing Subsidiary means a Consolidated Subsidiary that has no direct or indirect interest in a Power Supply Business or other AES Business and (1) for purposes of Section 5.09(a)(v), was formed solely for the purpose of acquiring Equity Interests in the Borrower and obtaining financing (including the issuance of securities) the proceeds of which were intended to be used to acquire Equity Interests in the Borrower or (2) for any other purpose hereunder, was formed solely for the purpose of issuing Trust Preferred Securities.
Examples of Special Purpose Financing Subsidiary in a sentence
Schedule 3.12 sets forth as of the date of this Agreement the name of, and the ownership interest of the Parent in, each Subsidiary of the Parent and identifies each such Subsidiary (other than the Borrower) as either an Unrestricted Subsidiary, a Special Purpose Equipment Subsidiary, a Special Purpose License Subsidiary, a Special Purpose Financing Subsidiary, a Non- Material Subsidiary or a Guarantor Subsidiary.
More Definitions of Special Purpose Financing Subsidiary
Special Purpose Financing Subsidiary means an Unrestricted Subsidiary of the Authority established in connection with, and in order to effectuate, a Permitted Lease Financing which Unrestricted Subsidiary meets the following criteria: (a) the business activities of such Unrestricted Subsidiary consists solely of engaging in one or more Permitted Lease Financings and any activities reasonably related or ancillary thereto (including the purchase and financing of Income Assets), (b) no portion of the Indebtedness (including any Permitted Lease Financing) of such Unrestricted Subsidiary or any other obligations (contingent or otherwise) of such Unrestricted Subsidiary is guaranteed by or otherwise recourse to the Authority or any of its Restricted Subsidiaries, other than reasonable and customary undertakings in respect of the Income Assets transferred to such Special Purpose Financing Subsidiary, (c) such Unrestricted Subsidiary is not party to any contracts, agreements, arrangements or understanding with the Authority or its Restricted Subsidiaries other than on terms that are no less favorable to the Authority or such Restricted Subsidiary than those that might be obtained by the Authority or such Restricted Subsidiary from a Person that is not an Affiliate of the Authority and (d) neither the Authority nor any Restricted Subsidiary has any obligation to maintain or preserve such Unrestricted Subsidiary’s financial condition or cause such Unrestricted Subsidiary to achieve certain levels of operating results.
Special Purpose Financing Subsidiary means a Subsidiary of the Borrower that is a special-purpose company created and used solely for purposes of effecting a Receivables Financing.
Special Purpose Financing Subsidiary means any Restricted Subsidiary that is established in connection with a Permitted Receivables Financing; provided that (a) the activities of such Restricted Subsidiary are limited to the purchase of accounts receivable without recourse to the Parent or any other Restricted Subsidiary, the resale or financing thereof pursuant to such Permitted Receivables Financing and activities incidental thereto and (b) such Restricted Subsidiary does not have any Indebtedness other than Indebtedness incurred to finance accounts receivable purchased by it.
Special Purpose Financing Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Asset-Based Financing (including the issuers of the Effective Date Financing Arrangements) for the acquisition, sale or financing of Financing Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with the Borrower or any of the Subsidiaries (other than Special Purpose Financing Subsidiaries) in the event the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Financing Subsidiary.
Special Purpose Financing Subsidiary has the meaning set forth in Section 5.04(b)(ix).
Special Purpose Financing Subsidiary means a Subsidiary of the Company (other than a Guarantor that engages in substantially no other activities other than to provide financing to the Company or Wholly Owned Subsidiary and is designated by the Board of Directors of the Company as a "special purpose financing subsidiary". Any such designation by the Board of Directors shall be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors giving effect to such designation and an Officers' Certificate certifying to the best of such Officers' knowledge and belief that such designation complied with the foregoing.
Special Purpose Financing Subsidiary means a Consolidated Subsidiary that has no direct or indirect interest in a Power Project or other AES Business and was formed solely for the purpose of issuing Equity Credit Preferred Securities.