Specified US Assets definition
Specified US Assets of any Person means such Person’s gross assets in the United States, excluding (a) the value of the Equity Interests of such Person’s Subsidiaries and (b) any intercompany debt owing to such Person.
Examples of Specified US Assets in a sentence
If the Borrower shall fail to designate such Wholly-Owned Subsidiaries as Guarantors within such time period, then Wholly-Owned Domestic Subsidiaries that are not Guarantors shall automatically be deemed to be Guarantors in descending order based on the value of such Wholly-Owned Domestic Subsidiary’s Specified US Assets until the aggregate value of the Specified US Assets of the Wholly-Owned Domestic Subsidiaries that are not Guarantors no longer exceeds $75,000,000.