New Material Subsidiary has the meaning assigned thereto in Section 8.10.

New Material Subsidiary has the meaning assigned to such term in Section 5.09(a).

New Material Subsidiary means any Domestic Subsidiary that is newly-formed or newly-acquired, directly or indirectly, by the Borrower having total assets, as reflected on its balance sheet as of any date of determination, equal to or in excess of five percent (5%) of the total consolidated assets of the Borrower and its Consolidated Subsidiaries as reflected on the Borrower’s consolidated balance sheet as of such date of determination, in each case as determined in accordance with GAAP.

Examples of New Material Subsidiary in a sentence

If as of the end of any fiscal quarter, the Aggregation Test is not satisfied, then within 60 days after the end of such fiscal quarter the Borrower shall cause such number of Subsidiaries to join into the Subsidiary Guaranty (as if they were each a New Material Subsidiary as provided in the foregoing sentence) so that after giving effect thereto, the Aggregation Test is satisfied.
Promptly notify Administrative Agent after any Person becomes a Material Subsidiary (each a “New Material Subsidiary”) as a result of a Permitted Acquisition, a Fundamental Change Transaction, or a capital contribution, and in such notice set forth the date such Person became a New Material Subsidiary and the full name and jurisdiction of organization of such Person.
Upon execution and delivery by a New Material Subsidiary of a Supplemental Agreement substantially in the form of Exhibit A hereto, such New Material Subsidiary shall become a Guarantor hereunder with the same force and effect as if originally named as a Guarantor herein.
All communications to the New Material Subsidiary shall be given to it at the address or telecopy number set forth under its signature hereto.
The undersigned New Material Subsidiary is executing this Agreement in accordance with the requirements of the Note Purchase Agreement in order to become a Guarantor under the Guaranty as consideration for the Notes previously purchased.

More Definitions of New Material Subsidiary

New Material Subsidiary means any Domestic Subsidiary (other than (A) any Unrestricted Subsidiary, (B) any Receivables Financing Subsidiary and (C) any other Subsidiary that is formed solely for the purpose of acting as a captive insurance company, including the Insurance Subsidiary) that is newly-formed or newly-acquired, directly or indirectly, by the Borrower having total assets, either (x) as reflected on its balance sheet as of any date of determination or (y) with reference to its fair market value as reasonably determined by the Borrower in good faith, equal to or in excess of $37,500,000 as of such date of determination, as determined in accordance with GAAP.

New Material Subsidiary shall have the meaning assigned it in Section 5.21.

New Material Subsidiary means each Subsidiary of the Company formed, created or acquired after the date of this Agreement which is either (a) a direct first-tier Subsidiary of the Company or (b) a Material Subsidiary.

New Material Subsidiary shall have the meaning specified in Section 7.04 of this Agreement.

New Material Subsidiary has the meaning set forth in Section 6.12(b).

New Material Subsidiary means any Subsidiary of the Borrower formed or acquired by the Borrower at any time subsequent to the Agreement Date, having equity in excess of $2,500,000, including, without limitation, Great Smokies, but not including any Subsidiary that is a special-purpose bankruptcy remote corporation formed exclusively to operate as a conduit in Securitizations .

New Material Subsidiary shall have the meaning specified in Section 7.4 of this Agreement.