Permitted Foreign Subsidiary definition

Permitted Foreign Subsidiary has the meaning specified in Section 6.12.
Sample 1Sample 2Sample 3
Permitted Foreign Subsidiary means any wholly-owned Subsidiary of Company which is organized under the laws of Canada or a Caribbean jurisdiction; provided however that, all such Subsidiaries, in the ---------------- aggregate, shall have not been capitalized by Company in Cash or other property, including equipment, in excess of 3% of the book value of the total assets of Company and its Subsidiaries; provided further that, ---------------- substantially all the assets thereof shall be subject to a First Priority Lien in favor of the Collateral Agent, and Collateral Agent shall be reasonably satisfied that such Liens are substantially similar in respect of priority, enforceability and realization to those granted to Collateral Agent by the Company.
Sample 1
Permitted Foreign Subsidiary means each individually and “Permitted Emtec Canada Foreign Subsidiaries” means collectively, MauritiusCo, Emtec India, Covelix India, Emtec Canada and any other Foreign Subsidiary hereafter created, formed or acquired by any Company or any Subsidiary thereof in accordance with Section 9.1(d).
Sample 1

Examples of Permitted Foreign Subsidiary in a sentence

  • Allow any Foreign Subsidiary to enter into any credit facility that is not a Permitted Foreign Subsidiary Credit Facility.

  • The proceeds of Incremental Loans shall be used to finance Permitted Acquisitions, Permitted Foreign Subsidiary Acquisitions, to pay related fees and expenses and for general corporate purposes.

  • Have a Foreign Subsidiary other than a Permitted Foreign Subsidiary.

  • Make any loans or other advances of money to any Person other than (i) to an officer or employee of an Obligor or a Subsidiary for salary, travel advances, advances against commissions and other similar advances in the Ordinary Course of Business, (ii) loans and advances that constitute Permitted Foreign Subsidiary Investments, (iii) Permitted Excess Collateral Provider Loans; and (iv) loans and advances that are permitted under Section 10.2.3(ii), (iv), (vii) or (viii).

  • The Company shall not permit any of its Restricted Subsidiaries to issue any Preferred Stock (other than to the Company or to a Wholly Owned Restricted Subsidiary of the Company) or permit any Person (other than the Company or a Wholly Owned Restricted Subsidiary of the Company) to own any Preferred Stock of any Restricted Subsidiary of the Company, other than Permitted Foreign Subsidiary Preferred Stock and Permitted Domestic Subsidiary Preferred Stock.

  • Schedule 5.11 Permitted Foreign Subsidiary Loans and Investments Class I Equity Interests Class II Equity Interests (Value in Mexican (Value in Mexican Pesos) Partner Issuer Pesos) Series “A” Series “B” Total Capital Core Composites Coxxxxxxxxxxxx xx 0 0 0 Xxxxxxxxxxx Xxxxxx, S.

  • Change the name, organizational identification number, state of organization, organizational identity or “location” for purposes of Section 9-307 of the Code of any Loan Party, or, other than in order to consummate any Permitted Foreign Subsidiary Reorganization, change the name, organizational identification number, state of organization, organizational identity or “location” for purposes of Section 9-307 of the Code of any Loan Party’s Subsidiaries.

  • No Loan Party shall have a Foreign Subsidiary other than a Permitted Foreign Subsidiary.

  • Upon the closing of the Permitted Foreign Subsidiary Reorganization, certain of the Foreign Located Assets of one or more of the Loan Parties included in Collateral will be transferred from branches of such Loan Party in a foreign jurisdiction to a Foreign Subsidiary of such Loan Party, whereupon such assets and properties will be deemed to be excluded from the Collateral, automatically and without the need for any further action.

  • Each Subsidiary that is a Foreign Subsidiary and each Subsidiary that is a Permitted Foreign Subsidiary is designated as such on such Schedule.


More Definitions of Permitted Foreign Subsidiary

Permitted Foreign Subsidiary means any Subsidiary of Borrower organized under the Laws of the Cayman Islands.
Sample 1
Permitted Foreign Subsidiary means any wholly-owned Subsidiary of Company which is organized under the laws of Canada or a Caribbean jurisdiction; provided however that, all such Subsidiaries, in the aggregate, shall have not been capitalized by Company in Cash or other property, including equipment, in excess of 3% of the book value of the total assets of Company and its Subsidiaries; provided further that, substantially all the assets thereof shall be subject to a first priority Lien (other than those Liens permitted pursuant to Section 7.2(A)(i), (viii) and (ix)) in favor of the Collateral Agent, and Collateral Agent shall be reasonably satisfied that such Liens are substantially similar in respect of priority, enforceability and realization to those granted to Collateral Agent by the Company.
Sample 1

Related to Permitted Foreign Subsidiary

  • Restricted Foreign Subsidiary means a Foreign Subsidiary that is a Restricted Subsidiary.

  • Excluded Foreign Subsidiary any Foreign Subsidiary in respect of which either (a) the pledge of all of the Capital Stock of such Subsidiary as Collateral or (b) the guaranteeing by such Subsidiary of the Obligations, would, in the good faith judgment of the Borrower, result in adverse tax consequences to the Borrower.

  • Affected Foreign Subsidiary means any Foreign Subsidiary to the extent such Foreign Subsidiary acting as a Subsidiary Guarantor would cause a Deemed Dividend Problem.

  • Designated Foreign Subsidiaries means all members of the Company Group that are organized under the laws of any jurisdiction or country other than the United States of America that may be designated by the Board or the Committee from time to time.

  • Wholly-Owned Foreign Subsidiary means, as to any Person, any Wholly-Owned Subsidiary of such Person which is a Foreign Subsidiary.

  • Excluded Foreign Subsidiaries any Foreign Subsidiary in respect of which either (i) the pledge of all of the Capital Stock of such Subsidiary as Collateral or (ii) the guaranteeing by such Subsidiary of the Obligations, would, in the good faith judgment of the Borrower, result in adverse tax consequences to the Borrower.

  • Direct Foreign Subsidiary means a Subsidiary other than a Domestic Subsidiary a majority of whose Voting Securities, or a majority of whose Subsidiary Securities, are owned by the Borrower or a Domestic Subsidiary.

  • Eligible Foreign Subsidiary means any Foreign Subsidiary that is approved from time to time by the Administrative Agent and each of the Lenders.

  • Foreign Subsidiary means any Subsidiary that is not a Domestic Subsidiary.

  • 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.

  • Foreign Subsidiaries means Subsidiaries of Borrower which are organized under the laws of a jurisdiction other than the United States of America, any State of the United States or any political subdivision thereof.

  • Foreign Subsidiary Holdco means any Restricted Subsidiary which is organized under the laws of the United States (as defined for purposes of Section 956 of the Code) that has no material assets other than the Capital Stock and, if any, Indebtedness of (1) one or more Foreign Subsidiaries that are “controlled foreign corporations” as defined by Section 957 of the Code or (2) any other Foreign Subsidiary Holdco.

  • Foreign Subsidiary Total Assets means the total assets of the Foreign Subsidiaries, as determined on a consolidated basis in accordance with GAAP in good faith by a Responsible Officer.

  • Immaterial Foreign Subsidiary means any Foreign Subsidiary of the Borrower that is not a Material Foreign Subsidiary.

  • Material Foreign Subsidiary means any Foreign Subsidiary that is a Material Subsidiary.

  • Excluded Subsidiary means (a) any Subsidiary that is not a wholly-owned direct or indirect Domestic Subsidiary of Holdings, (b) any Subsidiary that is prohibited or restricted by applicable Law or by Contractual Obligations permitted by this Agreement in existence at the time of acquisition of such Subsidiary but not entered into in contemplation thereof, from guaranteeing the Obligations or if guaranteeing the Obligations would require governmental (including regulatory) consent, approval, license or authorization, unless such consent, approval, license or authorization has been received, or for which the provision of a Guarantee would result in material adverse tax consequences to the Borrower or one of its subsidiaries as reasonably determined by the Borrower and agreed in writing by the Administrative Agent, (c) any other Subsidiary with respect to which, in the reasonable judgment of the Borrower and the Administrative Agent, the burden or cost of providing a Guarantee shall be excessive in view of the benefits to be obtained by the Lenders therefrom, (d) any not-for-profit Subsidiaries or captive insurance Subsidiaries, (e) any Unrestricted Subsidiaries, (f) any Securitization Subsidiary, (g) any direct or indirect Domestic Subsidiary of a direct or indirect Foreign Subsidiary of Holdings that is a CFC, (h) any direct or indirect Domestic Subsidiary of Holdings that is a FSHCO, (i) [reserved], (j) captive insurance Subsidiaries, (k) any Subsidiary that is not a Material Subsidiary and (l) any Restricted Subsidiary acquired pursuant to a Permitted Acquisition or other Investment that has assumed secured Indebtedness permitted under Section 7.03(g)(i) and not incurred in contemplation of such Permitted Acquisition or other Investment, in each case to the extent such secured Indebtedness prohibits such Subsidiary from becoming a Guarantor (so long as such prohibition is not incurred in contemplation of such Permitted Acquisition or other Investment). For the avoidance of doubt, the Borrower shall not constitute an Excluded Subsidiary.

  • Foreign Subsidiary Holding Company means any Domestic Subsidiary that is a direct parent of one or more Foreign Subsidiaries and holds, directly or indirectly, no other assets other than Equity Interests of Foreign Subsidiaries and other de minimis assets related thereto.

  • Domestic Subsidiary means any Subsidiary that is organized under the Laws of the United States, any state thereof or the District of Columbia.

  • Excluded Domestic Subsidiary means any Domestic Subsidiary that is (a) a direct or indirect Subsidiary of an Excluded Foreign Subsidiary or (b) an Excluded Domestic Holdco.

  • FSHCO means any Subsidiary that owns no material assets other than the Equity Interests of one or more Foreign Subsidiaries that are CFCs and/or of one or more FSHCOs.

  • Immaterial Domestic Subsidiary means any Domestic Subsidiary that is not a Material Domestic Subsidiary.

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Domestic Subsidiaries means all Subsidiaries incorporated or organized under the laws of the United States of America, any State thereof or the District of Columbia.

  • Foreign Subsidiary Voting Stock the voting Capital Stock of any Foreign Subsidiary.

  • Significant Domestic Subsidiary means any Domestic Subsidiary that is a Significant Subsidiary.

  • Material Domestic Subsidiary means any Domestic Subsidiary that is a Material Subsidiary.