Indirect Owner definition

Indirect Owner means, in the case of a Protected Partner that is an entity that is classified as a partnership, disregarded entity or subchapter S corporation for federal income tax purposes, any person owning an equity interest in such Protected Partner, and in the case of any Indirect Owner that itself is an entity that is classified as a partnership, disregarded entity or subchapter S corporation for federal income tax purposes, any person owning an equity interest in such entity.

Indirect Owner means each Subsidiary of the Borrower that directly or indirectly owns an ownership interest in any Direct Owner.

Indirect Owner has the meaning specified in the definition of “Unencumbered Property Criteria”.

Examples of Indirect Owner in a sentence

• Notwithstanding the foregoing, upon written request by the Partnership, each Protected Partner (or Indirect Owner), in its sole discretion, may waive the payment of any damages that is otherwise payable to such Protected Partner (or Indirect Owner) pursuant to Article 4 hereof.

• Such a waiver shall be effective only if obtained in writing from the affected Protected Partner (or Indirect Owner).

• Each direct and indirect Wholly Owned Subsidiary of the Borrower that is the Direct Owner of an Unencumbered Property or an Indirect Owner of any such Direct Owner and each of which shall be organized under the laws of a State in the United States.

• The terms “Owned,” “Owning” and other variations of the word “Own,” when used with respect to a shareholder or Indirect Owner, have correlative meanings.

• Except as provided in the penultimate sentence of Section 3(b), the OP shall make any required indemnity payment owing to a Protected Partner or Indirect Owner pursuant to this Section 3(a) no later than ten (10) days after delivery of the computation of the indemnity payment to the Protected Partner or Indirect Owner.

More Definitions of Indirect Owner

Indirect Owner means any person who holds a controlling

Indirect Owner means each Subsidiary of the Borrower that directly or indirectly owns an Equity Interest in the Direct Owner of any Eligible Loan Asset.

Indirect Owner means any person who holds a controlling interest in a direct owner or operator, holds a controlling interest in another indirect owner, or holds an interest in a partnership which is an indirect owner or a direct owner or operator, of an industrial establishment;

Indirect Owner means, (a) as to any Unencumbered Property owned by or ground leased to a Subsidiary of the Borrower, each other Subsidiary of the Borrower that owns a direct or indirect interest in the Direct Owner of such Unencumbered Property and (b) as to any Unencumbered First Mortgage Receivable held by a Subsidiary of the Borrower, each other Subsidiary of the Borrower that owns a direct or indirect interest in the Direct Owner of such Unencumbered First Mortgage Receivable.

Indirect Owner means, in the case of a LVP Party that is an entity that is classified as a partnership or disregarded entity for federal income tax purposes, any Person owning an equity interest in such LVP Party and, in the case of any Indirect Owner that itself is an entity that is classified as a partnership or disregarded entity for federal income tax purposes, any Person owning an equity interest in such entity.

Indirect Owner means, in the case of a Protected Partner that is an entity that is classified as a partnership or disregarded entity for federal income tax purposes, any person owning an equity interest in such Protected Partner, and, in the case of any Indirect Owner that itself is an entity that is classified as a partnership or disregarded entity for federal income tax purposes, any person owning an equity interest in such entity.

Indirect Owner means with respect to each Person which is (i) a -------------- corporation or any similar entity, each shareholder and each Indirect Owner of such shareholder; (ii) a limited liability company or any similar entity, each member and each Indirect Owner of such member; (iii) a partnership (whether limited or general) or similar entity, each partner and each Indirect Owner of such partner; (iv) a trust or any similar entity, each beneficiary who has the legal right (or whose spouse has the present legal right) to demand a distribution of the trust's interest and each Indirect Owner of such beneficiary or such beneficiary's spouse (whether in such beneficiary's capacity as a beneficiary, trustee or otherwise and whether by revocation or amendment of such trust or otherwise).