Permitted Other Subsidiaries definition

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint Venture Subsidiary of the Borrower which (a) does not own any Unencumbered Property, and (b) is a bankruptcy remote, single purpose Person.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint Venture Subsidiary of the Borrower which (a) does not own and has never owned any Eligible Property, (b) is a newly-formed, single-purpose Person and (c) if such Person has any Hotel Property pledged to secure any Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness, then such Person shall not own any Hotel Properties other than those that secure such Indebtedness.

Permitted Other Subsidiaries means (a) DFW South LP; (b) Meadowlands LP; ---------------------------- (c) AGH DFW South LLC, the sole general partner of DFW South LP; (d) AGH Secaucaus LLC, the sole general partner of Meadowlands LP and (c) such other Subsidiaries of the Borrower which will not be Guarantors and not own Eligible Property, as may be approved by the Agents in their sole discretion.

Examples of Permitted Other Subsidiaries in a sentence

• The Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) to, enter into any agreement (other than a Credit Document) which limits distributions to or any advance by any of the Borrower’s Subsidiaries to the Borrower.

• The Borrower will not, and will not permit any of its Subsidiaries to, enter into or suffer to exist any agreement (other than this Agreement and the Credit Documents) (a) prohibiting the creation or assumption of any Lien upon the Properties of the Borrower or any of its Subsidiaries (except for the Permitted Other Subsidiaries), whether now owned or hereafter acquired, or (b) requiring an obligation to be secured if some other obligation is or becomes secured.

• The Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) to, enter into any agreement (other than a Credit Document) which limits distributions to or any advance by any of the Borrower's Subsidiaries to the Borrower.

• The ------------------------------------------------------ Borrower will not, nor will it permit any of its Subsidiaries (other than Permitted Other Subsidiaries) to, enter into any agreement (other than a Credit Document) which limits distributions to or any advance by any of the Borrower's Subsidiaries to the Borrower.

• Upon the recording of the Mortgages and the recording or filing of the other Security Documents and Participating Lessee Documents, as applicable, the Administrative Agent, as agent for the Banks, will have a valid, perfected first priority lien or security interest, as applicable, in the Property of the Borrower and its Subsidiaries (other than the Permitted Other Subsidiaries) and the Participating Lessee Pledged Property.

More Definitions of Permitted Other Subsidiaries

Permitted Other Subsidiaries means (a) a Subsidiary of the Borrower which is a single-purpose Person (i) which owns a Hotel Property or Hotel Properties or an interest in a Person which owns a Property which Property or interest is pledged to secure Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness permitted by this Agreement, and (ii) which does not own any Hotel Properties other than those that secure such Indebtedness, (b) a direct or indirect Subsidiary of the Parent which is a single-purpose Person and which is not a Subsidiary of the Borrower and does not have assets or annual revenues in excess of $5,000,000, or (c) a TRS which (i) is a lessee for a Hotel Property that secures either Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness permitted pursuant to the Credit Agreement and (ii) is not a lessee for any Hotel Property which does not secure any of such Indebtedness.

Permitted Other Subsidiaries means Persons deemed "Permitted Other ---------------------------- Subsidiaries" under the Senior Credit Agreement.

Permitted Other Subsidiaries means either (a) a Subsidiary of the ---------------------------- Borrower which is a single-purpose Person (i) which owns a Hotel Property or Hotel Properties or an interest in a Person which owns a Property which Property or interest is pledged to secure Secured Non-Recourse Indebtedness or Secured Recourse Indebtedness permitted by this Agreement, and (ii) which does not own any Hotel Properties other than those that secure such Indebtedness or (b) a direct or indirect Subsidiary of the Parent which is a single-purpose Person and which is not a Subsidiary of the Borrower and does not have assets or annual revenues in excess of $5,000,000.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Non ---------------------------- Wholly-Owned Subsidiary of the Borrower which (a) does not own and has never owned any Eligible Property, (b) is a newly-formed, single-purpose Person and (c) if such Person has any Hotel Property pledged to secure any Secured Non- Recourse Indebtedness or Secured Recourse Indebtedness, then such Person shall not own any Hotel Properties other than those that secure such Indebtedness.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint

Permitted Other Subsidiaries means (a) DFW South LP; (b) Meadowlands LP; (c) ---------------------------- AGH DFW South LLC, the sole general partner of DFW South LP; (d) AGH Secaucaus LLC, the sole general partner of Meadowlands LP, (e) 75 Arlington Heights Limited Partnership, L.P., (f) 75 LLC, (g) 2780 Atlanta Limited Partnership, L.P., (g) AGH 2780 Atlanta LLC and (h) such other Subsidiaries of the Borrower which will not be Guarantors and not own Eligible Property, as may be approved by the Agents in their sole discretion.

Permitted Other Subsidiaries means a Wholly-Owned Subsidiary or a Joint Venture Subsidiary of the Borrower which (a) does not own any