Examples of Non-Material Subsidiary in a sentence
The Borrower agrees to cause each entity which becomes a Subsidiary, other than a Non-Material Subsidiary, after the date of this Agreement to provide to the Administrative Agent a Guarantee as continuing security for all present and future indebtedness and obligations of the Borrower to the Administrative Agent, together with such Credit Documents as the Administrative Agent may reasonably require, within five (5) Business Days of an entity becoming a Subsidiary.
No Non-Material Subsidiary is a party to any tax sharing agreement that could reasonably be expected to have a Material Adverse Effect.
The Borrower agrees to cause each entity which becomes a Subsidiary, other than a Non-Material Subsidiary, after the date of this Agreement to provide to the Administrative Agent a Guarantee as continuing security for all of present and future indebtedness and obligations of the Borrower to the Administrative Agent, together with such Credit Documents as the Administrative Agent may reasonably require, within five (5) Business Days of an entity becoming a Subsidiary.