Common use of Inactive Subsidiaries Clause in Contracts

Inactive Subsidiaries. Each of the Inactive Subsidiaries has no Indebtedness or other material liabilities, conducts no operations or business, and owns no assets or properties.

Appears in 4 contracts

Samples: Credit Agreement (Omni Energy Services Corp), Credit Agreement (Omni Energy Services Corp), Credit Agreement (Omni Energy Services Corp)

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Inactive Subsidiaries. Each None of the Inactive Subsidiaries has no have any Indebtedness or other material liabilities, conducts no material operations or business, and owns no material assets or properties.

Appears in 2 contracts

Samples: Loan and Security Agreement (SMART Modular Technologies (WWH), Inc.), Loan and Security Agreement (SMART Modular Technologies (DE), Inc.)

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Inactive Subsidiaries. Each of the The Inactive Subsidiaries has do not own or lease any assets, have no Indebtedness or other material liabilities, conducts no operations or businessbusiness operations, and owns have no assets or propertiessources of revenue.

Appears in 1 contract

Samples: Credit Agreement (Captaris Inc)

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