Common use of Status of Holdings Clause in Contracts

Status of Holdings. As of the Effective Date, Holdings has not engaged in any trade or business and is not obligated to pay any Indebtedness other than the Zero Coupon Debt.

Status of Holdings. As of the Effective Date, Holdings has not engaged in any trade or business and is has not obligated to pay incurred any Indebtedness other than the Zero Coupon Debtholding, managing and directing its equity and debt positions in Borrower and performing its obligations under existing arrangements with its stockholders and taking actions incident thereto.