LTACH Subsidiary

LTACH Subsidiary. Means a Subsidiary which (i) is engaged in the business of being a long term acute care hospital, (ii) either (a) has minority shareholders or other joint venturers or partners upon its formation or (b) is a wholly owned Subsidiary of the Borrower or one of the Borrower's Subsidiaries upon its formation, so long as within twelve (12) months of such Subsidiary having a total asset value exceeding $1,000,000, minority shareholders or other... joint venturers or partners, in addition to the Borrower or one or more of the Borrower's Subsidiaries, shall own Equity Interests in such Subsidiary, and (iii) complies, together with all other such Subsidiaries, with the provisions of clause (b)(ii) of the definition of "Non-Obligor" contained in this Section 1.01. View More