Support Subsidiaries definition
Support Subsidiaries means any Subsidiary (i) that is a Guarantor or (ii) as to which the Agent for the benefit of the Lenders shall have received a valid first priority pledge of at least 65% of its Voting Stock pursuant to a Pledge Agreement.
Examples of Support Subsidiaries in a sentence
The Borrower shall endeavor to select Subsidiaries for designation as Credit Support Subsidiaries in descending order based on the Credit Support Values of the Domestic Subsidiaries.