Subsidiary Definition Example

Subsidiary. Any corporation or other entity of which the securities or other ownership interests having the voting power to elect a majority of the board of directors or other governing body are, at the time of determination, owned by Holdings or of which Holdings serves as the managing member or in a similar capacity or of which Holdings holds a majority of the partnership or limited liability company or similar interests or is otherwise entitled to receive a majority of distributions made by it, in each... case directly or through one or more Subsidiaries. View More