Variable Interest Entity definition

Variable Interest Entity means any variable interest entity that the Borrower is required to consolidate at any time pursuant to FASB ASC 810 - Consolidation. Schedule 1.01(a) identifies the entities that are Non-Subsidiary Variable Interest Entities as of the date hereof. Schedule 5.13 identifies the entities that are Variable Interest Entities that are Subsidiaries as of the date hereof.

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Variable Interest Entity means any corporation, partnership, limited partnership, limited liability company, limited liability partnership or other entity the accounts of which would be required to be consolidated with those of the Company in the Company’s consolidated financial statements if such financial statements were prepared in accordance with GAAP solely because of the application of Accounting Standards Codification Topic 810 (Consolidation); and

Variable Interest Entity of a Person means a corporation, partnership, joint venture, limited liability company or other business entity with respect to which such Person is deemed to have a controlling financial interest and is required to consolidate in such Person’s financial statement pursuant to ASC 810 (Consolidation under GAAP), as reasonably determined by such Person in good faith. For the avoidance of doubt, a Subsidiary of a Person is not a Variable Interest Entity of such Person.

Examples of Variable Interest Entity in a sentence

• To the Borrower’s knowledge, the Broadcast Licenses listed in Schedule 5.21 with respect to any Shared Services Party Station include all material authorizations, licenses and permits issued by the FCC that are required or necessary for the operation of such Shared Services Party Station, and the conduct of the business of such Variable Interest Entity for such Shared Services Party Station with respect to such Shared Services Party Station, as now conducted.

• The Borrower shall not, and shall not permit any Covenant Entity to modify, change, amend, or terminate, any of the provisions of any Nexstar/VIE Agreement with a Variable Interest Entity that is a Loan Party or any material Channel Sharing Agreement if any such modification, change, amendment or termination could reasonably be expected to be materially adverse to the interests of the Lenders.

• In addition and notwithstanding any provision herein or in any Group Loan Document to the contrary, each VIE Borrower shall be deemed to be a Variable Interest Entity of Nexstar Media for so long as the applicable VIE Credit Agreement remains outstanding irrespective of any change in GAAP.

More Definitions of Variable Interest Entity

Variable Interest Entity means any Person that is not a Subsidiary under clause (a) of the definition of such term but the accounts of which are consolidated with those of the Borrower under GAAP as a result of its status as a variable interest entity.

Variable Interest Entity shall have the meaning ascribed to such term in the SouFun Subscription Agreement.

Variable Interest Entity means any Person that is not a Subsidiary under clause (a) of the definition of such term but the accounts of which are consolidated with those of the Company under GAAP as a result of its status as a variable interest entity.

Variable Interest Entity of a Person means a corporation, partnership, joint venture, limited liability company or other business entity with respect to which such Person is deemed to have a controlling financial interest and is required to consolidate in such Person’s financial statement pursuant to ASC 810 (Consolidation under GAAP), as reasonably determined by such Person in good faith; provided that, with respect to each Variable Interest Entity of Nexstar Media, Sharing Arrangements between each such Variable Interest Entity or a Subsidiary thereof (other than a Digital Business Entity) and the Borrower or one or more Restricted Subsidiaries of the Borrower, covering all of the Shared Services Party Stations of such Variable Interest Entity shall have been entered into, and with respect to any such Sharing Arrangements, no material portion shall have become invalid, terminated or expired. Notwithstanding the foregoing or any other term or provision in any Group Loan Document to the contrary, each VIE Borrower shall be deemed to be a Variable Interest Entity of Nexstar Media for so long as the applicable VIE Credit Agreement remains outstanding. For the avoidance of doubt, a Subsidiary of a Person is not a Variable Interest Entity of such Person.

Variable Interest Entity means any corporation, partnership, limited partnership, limited liability company, limited liability partnership or other entity that is consolidated under GAAP because the Borrower or a Subsidiary is considered the primary beneficiary of such entity in accordance with GAAP.

Variable Interest Entity or “VIE” shall have the meaning set forth in Statement of Financial Accounting Standards Board Accounting Standards Codification 810 “Consolidation.”

Variable Interest Entity. As defined in accordance with GAAP.