Subsidiary Definition Example

Subsidiary. Shall mean, in respect of any Person, any corporation, association, limited liability company, partnership or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership or membership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person, (ii) such... Person and one or more Subsidiaries of such Person or (iii) one or more Subsidiaries of such Person. View More