I am capable of providing concise answers to your questions.

Since the Internet had no information on this, I asked a lawyer, who by his own admittance said he wasn't positive, but believed that:

a wholly owned indirect subsidiary is a wholly owned subsidiary (Company 3) that itself is owned by a wholly owned subsidiary (Company 2) of another company (Company 1). Such that Company 3 is a "wholly owned indirect subsidiary" of Company 1.

Wholly, as in "I am wholly committed to this cause."

adverb.

The budget measures were wholly inadequate.

I am wholly yours.

Wholly Smoke was created in 1938.