First Tier Foreign Subsidiary means each Foreign Subsidiary with respect to which any one or more of the Borrower and its Domestic Subsidiaries directly owns or Controls more than 50% of such Foreign Subsidiary’s issued and outstanding Equity Interests.
First Tier Foreign Subsidiary mean a Foreign Subsidiary all or any portion of whose Stock is owned directly by the Borrower or a Domestic Subsidiary that is a Guarantor.
First Tier Foreign Subsidiary means each Foreign Subsidiary with respect to which any one or more of the Borrower and its Domestic Subsidiaries directly owns or controls more than 50% of such Foreign Subsidiary’s issued and outstanding Equity Interests.
Examples of First Tier Foreign Subsidiary in a sentence
No Grantor shall pledge any equity interests of Roadway Express, S.A. de C.V. for so long as Roadway Express, S.A. de C.V. is a First-Tier Foreign Subsidiary to any party other than to the Bank Group Representative and the Collateral Trustee pursuant to this Security Agreement (or another Secured Instrument).
More Definitions of First Tier Foreign Subsidiary
First Tier Foreign Subsidiary means a Foreign Subsidiary held directly by a Credit Party or indirectly by a Credit Party.
First Tier Foreign Subsidiary means any Foreign Subsidiary that is owned directly by a Domestic Loan Party.
First Tier Foreign Subsidiary means any Foreign Subsidiary that is a “controlled foreign corporation” within the meaning of Section 957 of the Code and the Equity Interests of which are owned directly by any Credit Party.
First Tier Foreign Subsidiary means a Foreign Subsidiary, the Equity Interests of which are directly owned by the Borrower or a Domestic Subsidiary that is not a Subsidiary of a Foreign Subsidiary.
First Tier Foreign Subsidiary means any Foreign Subsidiary that is owned directly by a Domestic Credit Party.
First Tier Foreign Subsidiary means any Foreign Subsidiary that is a “controlled foreign corporation” within the meaning of Section 957 of the IRC and the Equity Interests of which are owned directly by any Loan Party.
First Tier Foreign Subsidiary means a Foreign Subsidiary that is a direct Subsidiary of the Borrower, any Guarantor or a Domestic Subsidiary.