SUBSIDIARY (US) definition
SUBSIDIARY (US) means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the Guarantor or by one or more other Subsidiaries (US), or by the Guarantor and one or more other Subsidiaries (US). For the purposes of this definition, "voting stock" means stock that ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. A Joint Venture (as defined in the Guarantee) shall not be a Subsidiary (US). The expression "Subsidiaries (US)" shall be construed accordingly;
SUBSIDIARY (US) means a c▇▇▇▇▇▇▇▇on more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the Guarantor or by one or more other Subsidiaries (US), or by the Guarantor and one or more other Subsidiaries (US). For the purposes of this definition, "voting stock" means stock that ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. A Joint Venture shall not be a Subsidiary (US);
Examples of SUBSIDIARY (US) in a sentence
PARTNERSHIP NUTRI./SYSTEM, LP By: Bria▇ ▇▇▇▇▇▇▇ Title: President SUBSIDIARY U.S. MEDICAL WEIGHT LOSS CENTERS, INC.
Each Certificate and direct registration advice representing Units shall bear substantially the following Legend: “THE UNITS REPRESENTED HEREBY ARE SUBJECT TO RESTRICTIONS ON BENEFICIAL OWNERSHIP AND CONSTRUCTIVE OWNERSHIP AND TRANSFER FOR THE PURPOSE OF THE PARTNERSHIP’S MAINTENANCE OF THE STATUS OF ITS SUBSIDIARY, U.S. REIT, AS A REAL ESTATE INVESTMENT TRUST UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).