Examples of Restricted Subsidiary in a sentence
The Company shall, and the Company shall cause each Restricted Subsidiary to, at its expense, prepare, give, execute, deliver, file and/or record any notice, financing statement, continuation statement, public deed, instrument or agreement necessary under Applicable Law to maintain, preserve or perfect any Lien granted or created under the Security Documents.
If a Restricted Subsidiary is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as an Unrestricted Subsidiary shall be deemed to be an Investment made as of the time of the designation and may reduce the amount available for Restricted Payments under Section 3.15 as determined by the Company.
That designation shall only be permitted if the Investment would be permitted at the time of such designation and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary.
Any Lien on property or assets of the Company or any Restricted Subsidiary created for the benefit of Holders pursuant to this Section 3.7 shall provide by its terms that such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Lien that gave rise to the obligation to secure to the Notes.
Any such Restricted Subsidiary must also accede to or join, as applicable, the relevant Security Documents as provided in Section 3.26.