Material Subsidiaries definition

Material Subsidiaries. Subsidiaries of the Parent Borrower constituting, individually or in the aggregate (as if such Subsidiaries constituted a single Subsidiary), a “significant subsidiary” in accordance with Rule 1-02 under Regulation S-X.

Material Subsidiaries means, at any time, each of the Guarantors and any Subsidiary of the Issuer or any of the Guarantors having, as of the end of the most recent fiscal quarter of the Issuer, total assets greater than 12% of the total assets of the Issuer, the Guarantors and their Subsidiaries on a consolidated basis.

Material Subsidiaries means, collectively, the Material Foreign Subsidiaries and the Material US Subsidiaries.

Examples of Material Subsidiaries in a sentence

• The Guarantor shall not carry on any business other than: (i) the holding of ownership interests in other Subsidiaries and (ii) the on-lending to the Canadian Borrower or other Material Subsidiaries of (A) the proceeds of equity subscriptions made by the Canadian Borrower or other Subsidiaries in the capital of the Guarantor and (B) the proceeds of loans made to the Guarantor by the Canadian Borrower and/or any other Material Subsidiary.

• The Company and the Material Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Material Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage in an amount of at least $10,000,000, and there are no pending or threatened claims against such directors’ and officers’ insurance coverage.

• In any Insolvency Proceeding which requires the classification of claims of creditors for voting purposes on any proposal under the Bankruptcy and Insolvency Act (Canada) or a plan of compromise, arrangement or reorganization (each, a “Plan”), the parties hereto agree that the Borrowers and the Material Subsidiaries shall establish separate classes for the claims of the First Lien Secured Parties and the Second Lien Creditors in recognition of their different interests.

• Any real property and facilities held under lease by the Company and the Material Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the Material Subsidiaries are in compliance, except as would not have or reasonably be expected to result in a Material Adverse Effect.

• The Company and each of the Material Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.

More Definitions of Material Subsidiaries

Material Subsidiaries means any Subsidiary of the Borrower with respect to which (x) the Borrower’s percentage ownership interest in such Subsidiary multiplied by (y) the book value of the Consolidated Assets of such Subsidiary represents at least 15% of the Consolidated Assets of the Borrower as reflected in the latest financial statements of the Borrower delivered pursuant to clause (i) or (ii) of Section 5.01(h).

Material Subsidiaries means the Company’s significant subsidiaries as defined by Rule 1-02(w) of Regulation S-X.

Material Subsidiaries. Restricted Subsidiaries of the Borrower constituting, individually (or, solely for purposes of Section 9.1(f), in the aggregate (as if such Restricted Subsidiaries constituted a single Subsidiary)), a “significant subsidiary” in accordance with Rule 1-02 under Regulation S-X.

Material Subsidiaries means, at any time, each of the Subsidiary Guarantors and any Subsidiary of the Guarantor or any of the Subsidiary Guarantors having, as of the end of the most recent fiscal quarter of the Guarantor, total assets greater than 12% of the total assets of the Guarantor, the Subsidiary Guarantors and their Subsidiaries on a consolidated basis.

Material Subsidiaries has the meaning given to it in Section 8(v);

Material Subsidiaries means any Subsidiary of the Borrower which is not an Immaterial Subsidiary.

Material Subsidiaries means the entities set out in Schedule A in which the Corporation holds the types and percentages of securities or other ownership interests therein set forth;