Common use of Newco has no Subsidiaries Clause in Contracts

Newco has no Subsidiaries. TCI has no Subsidiaries except for Newco and each of the companies identified as "Newco" in each of the Other Agreements and other newly incorporated Subsidiaries that have conducted no business and have been created solely to effectuate the business of TCI. Except as set forth in the preceding sentence or set forth on Schedule 6.5 hereto, neither TCI nor any Subsidiary of TCI presently owns, of record or beneficially, or controls, directly or indirectly, any capital stock, securities convertible into capital stock or any other equity interest in any corporation, association or business entity, and neither TCI nor Newco, directly or indirectly, is a participant in any joint venture, partnership or other non-corporate entity.